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Se define como eyaculación precoz aquella que se produce antes de dos minutos tras la penetración, acompañada de escaso o nulo control sobre la eyaculación y de angustia emocional a consecuencia de ello.dapoxetina comprarSe estima que, cumpliendo con esta definición, la eyaculación precoz realmente afectaría a un 4% de los varones. Sin embargo encuestas realizadas a nivel comunitario lanzan cifras de hasta un 30%.

Mergers, Acquisitions and Takeovers – Evaluation

 


Business integrations including mergers, acquisitions and takeovers bring benefits such as synergy and higher market share, but may cause companies to lose their corporate identity, create conflicts and regulatory problems.

Let’s take a look in details at advantages and disadvantages of business integrations.

Advantages of Mergers, Acquisitions and Takeovers

Advantages of mergers, acquisition and takeovers include:

  1. Synergy. Synergy is the magic force that allows for revenue enhancement and enhanced cost savings of the new business. The integrating firms are able to better use their combined abilities to boost productivity levels and improve profits thanks to access to each other’s resources, such as technology, distribution channels, management know-how, etc.
  2. Greater market share. The integrated firm will have larger customer base thanks to greater combined market share. After a merger, takeover or acquisition the integrated firm will be better equipped to reach new markets and grow revenues and earnings. Thanks to expanded marketing and distribution network there will be new sales opportunities.
  3. Improved market standing. The business integration will improve the company’s standing and visibility in the investment community. It is easier for large businesses to raise capital and negotiate lower interest rates. 
  4. Cost savings. Size matters for businesses. Larger companies benefit from internal economies of scale which help to lower the average cost of producing one product. It will improve the firm’s competitiveness in setting prices and increase profit margins. Whether it is purchasing stationery, office equipment or a new corporate IT system, a bigger company placing the order can save more on costs. It is because larger companies have a greater ability to negotiate prices with their suppliers.
  5. Acquiring new technology. To stay competitive, companies need to stay on top of technological developments and their business applications. By buying a smaller company with unique technology, the business can gain fast access to the best solutions available on the market to develop a competitive edge that will allow the business to stay ahead of the competition.
  6. Diversification. Some mergers, acquisitions and takeovers allow firms to enter into new markets. Having a diversified product portfolio allows them to benefit from a larger customer base across different industries which can greatly reduce risks of revenue loss.
  7. Survival. Sometimes, two small and struggling companies can greatly benefit from the merger. That integration will give the new firm a stronger position to compete with its rivals, hence protecting the survival of a business.  


Disadvantages of Mergers, Acquisitions and Takeovers

Disadvantages of mergers, acquisition and takeovers include:

  1. Redundancies. Job cuts are unavoidable in mergers, acquisitions and takeovers. It is because the new integrated business will surely not need two finance directors or two marketing managers. Job losses are likely to occur because of cost savings and will include both top leadership as the new firm does not need two CEOs as well as reducing the number of staff members from four functional departments including finance, marketing, human resources and operations. 
  2. Culture clashes. The newly formed organization that will emerge after the business integration will have its own, new and unique corporate culture built upon the previous two corporate cultures. All of the current employees will need to adapt quickly to the desired culture, new methods of working and the firm’s updated vision statement and mission statement. 
  3. Conflicts. There will be many disagreements and severe arguments between stakeholders of the firms involved in a merger, acquisition or takeover. Some of the employees will have conflict with the new management while the new management will have conflict with shareholders regarding payouts of free cashflow. It is very important to manage conflict properly.
  4. Loss of control. The original owners of the businesses involved in a business integration will inevitably lose some degree of control. The new Board of Directors (BOD) will need to be restructured which may include managers who were not originally appointed by the owners. 
  5. Higher costs. Because of internal diseconomies of scale, larger firms usually suffer from poor coordination, poor communication, poor control, demotivation of workers, complacency, alienation of the workforce and increased bureaucracy. As a result, less effective decision-making will cause the business costs to rise.
  6. Regulatory problems. The government and certain market watchdogs may be concerned with, and hence prevent, a merger, acquisition or takeover from happening, if it may lead to a monopoly giving the amalgamated business too much market power. The government wants to ensure proper competitiveness of the markets. 
  7. Discounted share price. Sadly, synergy opportunities may exist only in the minds of the corporate leaders and the deal makers. If there is no real added value created, the CEO and investment bankers (who earn commission from a successful deal) will try their best to create an image of enhanced value. However, the market will see through this sooner or later, and will ‘penalize’ the company by assigning it a discounted share price.

A lot be learned from companies that have successfully merged with, acquired or took over other companies. While advantages and disadvantages of business integrations are quite straightforward, the fact is that sometimes the full value of a deal takes years to formulate, or years for problems to emerge.