synergy). We show that the existence of positive synergies implies declining expected prices. When synergies are negative … simultaneously as a bundle or sequentially when synergies are positive. Second, when synergies are negative, the expected revenue … addition, in the presence of positive synergies, an option to buy the additional object at the price of the first object is …

Managers promises of future synergies are a common means to convince shareholders that an intended merger will raise … remains non-synergetic, and will not necessarily gain even if positive synergies can be realized. In a simple model of … conglomerate mergers, a corresponding critical level of synergies is made explicit, and moral hazard-induced effects are deducted …

practice to maximise and unlock synergies from M&As, and establish possible areas where mergers can go wrong. Additionally, the … study explores the pre/post-merger financial performance of key M&As in the Greek banking sector, whilst reviewing prospects … that such reasons include: errors in estimating real revenues and failure to account for income “dis-synergies”; income …

analyses do not seem to confirm the hypothesis that diversification is the optimal response to the presence of synergies and … less efficient firms, just able to survive due to the synergies they achieve diversifying. …

Bidders often face avoidable fixed costs or other synergies that can make bidding decisions complex and risky, and …