Mergers and acquisitions - the transactions when two firms legally join forces - is
a common tool for firms to reach increased growth and profitability. Research
however shows that M&A often fail to achieve their goals. It could be expected
that firms which repeatedly conduct M&A; serial acquirers, should benefit from
experience, and hence cumulatively improve their M&A performance. Despite
this, relatively little research attention has been given the organizational
structures and processes which serial acquirers use to develop this experience.
Therefore, the overall purpose of this project is to develop knowledge about how
firms can increase M&A performance. The question which the project addresses
is how serial acquirers attempt to develop their M&A experience.
This project will be conducted in the form of multiple case studies, empirically
focusing the often specially designated departments responsible for M&A
planning and execution in eight to twelve Swedish large firms openly expressing
ambitions to conduct M&A. Important contributions to the literature on M&A
will develop under what circumstances M&A is a possible vehicle for growth, the
degree to which experience is limited to certain types of M&A, as well as
explicating important means by which firms can improve M&A performance. As
these results have potential to guide firms they are expected to be of interest also
to practitioners.