Mergers and Acquisitions: Do They Create or Destroy Value?

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Mergers and acquisitions (M&A) are perhaps the most important decisions that a company ever faces, yet very many deals destroy substantial value. 

This talk will discuss the correct and incorrect motives for M&A, using both examples and large-scale evidence. It will discuss the conflicts of interest that may lead investment banks to persuade clients to do value-destroying deals, and ways to motivate these conflicts. It will also critically analyse policy proposals to reform M&A, e.g. a national interest test.

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Alex Edmans is the Mercers' School Memorial Professor of Business at Gresham College.

Professor Alex Edmans

Mercers’ School Memorial Professor of Business

Alex Edmans is the Mercers' School Memorial Professor of Business at Gresham College.

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