Merger of Sanofi-Synthélabo and Aventis PDF Download

Author: Juliane Kuballa
Publisher: GRIN Verlag
ISBN: 3638592960
Category : Business & Economics
Languages : en
Pages : 38

View

Book Description
Seminar paper from the year 2006 in the subject Business economics - Investment and Finance, grade: 80, Northumbria University (Newcastle Northumbria University), language: English, abstract: In the first part, this academic assignment provides general information about motives for international acquisitions. Moreover, it discusses whether foreign exchange markets and stock markets can be said to be efficient. The second part critically analyses the Merger of Sanofi-Synthélabo and Aventis by examining the following aspects: - market position of each company prior to the merger - motives for the proposed merger - attack and defence tactics applied by Sanofi-Synthélabo and Aventis - methods used to finance the merger - share price movements immediately before during and after the proposed take-over (commenting on the benefits to shareholders of each company) - company performance in the period following the take-over (reflecting on the initial take-over motives)

Author: Martin Wenderoth
Publisher: GRIN Verlag
ISBN: 3640267052
Category : Business & Economics
Languages : en
Pages : 42

View

Book Description
Essay from the year 2008 in the subject Business economics - Marketing, Corporate Communication, CRM, Market Research, Social Media, grade: (4) good, Eötvös Loránd Tudományegytem (International PhD Program), course: Business Economics, 22 entries in the bibliography, language: English, abstract: Within the ongoing globalisation process, many national markets and industrial branches are in different phases of the transition from local to global economic structures (Bryan, L.; Fraser, J.; Oppenheim, J. Rall, W., 2000, pp. 71-95). As a result of this development organisations in the different industries are increasingly concentrating (Brühl, V., 2003, pp. 274-278). Among other industries, also the pharmaceutical industry is highly influenced by the above mentioned trend, reflected by the increasing number of mergers and acquisitions (M&A's) in the pharmaceutical industry, which is illustrated in the following figure. Figure 1: The present assignment is going to evaluate the reasons and consequences of M&A's within the pharmaceutical industry by using the sanofi-aventis merger as an example. First of all, the recent history of sanofi-aventis is briefly described. The third part will describe the reasons and consequences of mergers and acquisitions in the pharmaceutical industry by describing the challenges the pharmaceutical branch is confronted with and the respective motives of and results from M&A activities. Finally, the major findings are summarised and conclusions will be derived. 2. History of sanofi-aventis Following the company homepage of sanofi-aventis (20071), the year 1999 has been very im-portant because of two reasons. First of all, Sanofi took over the Synthelabo Holding GmbH and changed its company name to Sanofi-Synthelabo. Furthermore, Hoechst merged with Rhône-Poulenc, a French chemical and pharmaceutical organisation in order to form the new company Aventis, with its legal seat in Strassbourgh (...)

Author: Dennis Klett
Publisher: Grin Publishing
ISBN: 9783638717984
Category :
Languages : en
Pages : 64

View

Book Description
Bachelor Thesis from the year 2005 in the subject Business economics - Business Management, Corporate Governance, grade: First Class (83%), University of London (School of Management), 52 entries in the bibliography, language: English, abstract: This research paper analyses the strategic and managerial rationale for M&A activity in the pharmaceutical industry in the case of Sanofi-Aventis. The first two sections provide the conceptual and theoretical framework for this research. First, the concepts of M&A and synergy will be defined; then, a selection of the major theories and literature on M&A from the strategic and managerial schools will be introduced and explained. Consequently, according to the deductive logic, the third section will hypothesize the rationale for Sanofi-Synthelabo to acquire Aventis derived from the general theories on M&A. The subsequent sections represent the main part of the research paper, which deals with testing the hypothesis in the case of the Sanofi-Aventis merger. After having stated the hypotheses, the methodology is provided which analyses and justifies the methods used to test the hypotheses. Then, the pharmaceutical industry and its characteristics, as well as both, Sanofi-Synthelabo and Aventis will be briefly analysed. Finally, the hypotheses are tested on their validity through comparison with the key findings of the research, revealing the strategic and managerial rationale for Sanofi-Synthelabo to acquire Aventis.

Author: Axel V. Werder
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

View

Book Description
Regarding the case of Sanofi-Synthélabo and Aventis, we scrutinize whether and how the reasonings put forward by the two companies differ. From an external governance perspective, managers must communicate convincingly in order to maintain or gain corporate control. If the shareholders do not trust managers to pursue a promising course of action they will engage in corporate governance and try to dismiss unsuccessful managers. In general the addressed shareholders must view the reasoning of the 'winner' of a takeover battle as superior because otherwise they would not have decided to tender their shares in the exchange offer. Yet more detailed reflections are necessary in order to find out how and to what extent the reasonings differ. We analyze the content and the cognitive quality of the arguments in Sanofi-Synthélabo's initial offer for Aventis's shares as well as in the information notice about the rejection of this offer by Aventis. Measuring the thoroughness of these arguments highlights their convincing power and gives hints to weak points which should have deserved additional attention in preparing the respective strategies and communications. Therefore these analyses are important for both managers and shareholders. Whereas the former can learn which additional aspects should be evaluated and communicated in order to present a thorough decision preparation, the latter can use the measurement instrument in order to assess whether the presented reasoning seems to be sufficiently sound or further arguments should be requested before the stockholders agree to tender their shares. Since in the present case Aventis's representatives eventually dismissed their rejection and recommended the merger, we finally scrutinize whether and to what extent the arguments against the merger stated in Aventis's rejection of the initial offer are indeed overruled by the revised offer.

Author: B. Rajesh Kumar
Publisher: Springer
ISBN: 303002363X
Category : Business & Economics
Languages : en
Pages : 359

View

Book Description
This book highlights research-based case studies in order to analyze the wealth created in the world’s largest mergers and acquisitions (M&A). This book encourages cross fertilization in theory building and applied research by examining the links between M&A and wealth creation. Each chapter covers a specific case and offers a focused clinical examination of the entire lifecycle of M&A for each mega deal, exploring all aspects of the process. The success of M&A are analyzed through two main research approaches: event studies and financial performance analyses. The event studies examine the abnormal returns to the shareholders in the period surrounding the merger announcement. The financial performance studies examine the reported financial results of acquirers before and after the acquisition to see whether financial performance has improved after merger. The relation between method of payment, premium paid and stock returns are examined. The chapters also discuss synergies of the deal-cost and revenue synergies. Mergers and acquisitions represent a major force in modern financial and economic environment. Whether in times of boom or bust, M&As have emerged as a compelling strategy for growth. The biggest companies of modern day have all taken form through a series of restructuring activities like multiple mergers. Acquisitions continue to remain as the quickest route companies take to operate in new markets and to add new capabilities and resources. The cases covered in this book highlights high profile M&As and focuses on the wealth creation for shareholders of acquirer and target firms as a financial assessment of the merger’s success. The book should be useful for finance professionals, corporate planners, strategists, and managers.

Author: Mohammed Ibrahimi
Publisher: John Wiley & Sons
ISBN: 1786303450
Category : Mathematics
Languages : en
Pages : 260

View

Book Description
This book deals with corporate mergers and acquisitions by analyzing the financial and strategic aspects. It starts with a chronological justification of the evolution of external growth operations and ends with case studies in order to put into practice the theoretical contribution of the previous titles. Through this book, we wish to detail the types of mergers and acquisitions, their modes, their motivations, their consequences and their performances. First of all, we propose a panoply of scientific research, methodological explanations and logical structuring to expose a subject of experience considered for a long time as a phenomenon in finance. Then, through a sample of 90 mergers or acquisitions, we analyze the effects of these transactions on French companies.

Author: Duduzile Sindisile Bhengu
Publisher:
ISBN:
Category : Consolidation and merger of corporations
Languages : en
Pages : 144

View

Book Description
Examines how the merger between Aventis Pharma and Sanofi Synthelabo in 2004 influenced employee's motivation. It also looks at the job satisfaction of employees from shop floor up to management level.

Author: B. Kumar
Publisher: Springer
ISBN: 1137005904
Category : Business & Economics
Languages : en
Pages : 151

View

Book Description
A casebook that discusses all the mega mergers and acquisitions in terms of value, that have happened in different industry sectors such as pharmacy, technology, telecommunications, media and entertainment, electrical and electronics, energy, finance, consumer goods, metals, and automobile and airlines.

Author: Mohammed Ibrahimi
Publisher: John Wiley & Sons
ISBN: 1119544289
Category : Mathematics
Languages : en
Pages : 265

View

Book Description
This book deals with corporate mergers and acquisitions by analyzing the financial and strategic aspects. It starts with a chronological justification of the evolution of external growth operations and ends with case studies in order to put into practice the theoretical contribution of the previous titles. Through this book, we wish to detail the types of mergers and acquisitions, their modes, their motivations, their consequences and their performances. First of all, we propose a panoply of scientific research, methodological explanations and logical structuring to expose a subject of experience considered for a long time as a phenomenon in finance. Then, through a sample of 90 mergers or acquisitions, we analyze the effects of these transactions on French companies.

Author: Chris A. Mallin
Publisher: Edward Elgar Publishing
ISBN: 1845429990
Category : Business & Economics
Languages : en
Pages : 332

View

Book Description
This compilation serves a particularly useful purpose by presenting a full range of fascinating case studies. The editor thus enables each reader to assimilate the particulars in his own parlance, thus avoiding the almost insoluble problem of international corporate governance namely that each country uses the same words, but with utterly different meanings. Obviously, this problem has inhibited constructive conversation. After digesting these case studies, one is encouraged to derive certain generalized conclusions, among which are no matter what the terminology, the integrity of publicly traded securities depends on transparency and enforceable accountability of manager to owner. Robert Monks, Lens Governance Advisors, US This collection of thoroughly researched and well-written case studies of the governance of companies in nine countries demonstrates how far away we are from convergence in corporate governance systems. Differences in ownership structures, board composition, financial markets, accounting standards, takeover defences, legal systems, societal and corporate cultures, and even political involvement, are highlighted in this splendid collection. The book demonstrates the importance of the few core concepts that are emerging in the field, such as greater transparency, independence in non-executive directors, and the need for more effective governance. The consideration of case studies is presently the best way to understand the reality of corporate governance around the world. This book offers valuable insights to students, teachers and practitioners of the subject. R.I. (Bob) Tricker, Honorary Professor, University of Hong Kong and Founder Editor, Corporate Governance an international review Corporate governance has become a global phenomenon. This book highlights, through various case studies, how corporate governance has evolved in a number of countries around the world. The international cast of contributors, from varying professional backgrounds including academics, lawyers and company directors, focus on different regions around the globe, reflecting various ownership structures, legal systems, and political and cultural aspirations. Some of the case studies used include: Standard Life; Telecom Italia; and Eskom. Academics, directors and practitioners will find this book valuable for its insights into corporate governance developments in different legal environments and different business forms. It will also be immensely useful to postgraduate and undergraduate students for the up-to-date case studies on corporate governance, which will add depth and real world meaning to their studies.