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Description
The Synergy TrapWith acquisition activity running into the trillions of dollars, the acquisition alternative continues to be the favorite corporate growth strategy of this generation's executives. Unfortunately, creating shareholder value remains the most elusive outcome of these corporate strategies. After decades of research and billions of dollars paid in advisory fees, why do these major decisions continue to destroy value? Building on his groundbreaking research
With acquisition activity running into the trillions of dollars, the acquisition alternative continues to be the favorite corporate growth strategy of this generation's executives. Unfortunately, creating shareholder value remains the most elusive outcome of these corporate strategies. After decades of research and billions of dollars paid in advisory fees, why do these major decisions continue to destroy value? Building on his groundbreaking research first cited in Business Week, Mark L. Sirower explains how companies often pay too much -- and predictably never realize the promises of increased performance and competitiveness -- in their quest to acquire other companies. Armed with extensive evidence, Sirower destroys the popular notion that the acquisition premium represents potential value. He provides the first formal and functional definition for synergy -- the specific increases in performance beyond those already expected for companies to achieve independently. Sirower's refreshing nuts-and-bolts analysis of the fundamentals behind acquisition performance cuts sharply through the existing folklore surrounding failed acquisitions, such as lack of "strategic fit" or corporate culture problems, and gives managers the tools to avoid predictable losses in acquisition decisions. Using several detailed examples of recent major acquisitions and through his masterful integration and extension of techniques from finance and business strategy, Sirower reveals:- The unique business gamble that acquisitions represent
- The managerial challenges already embedded in current stock prices
- The competitive conditions that must be met and the organizational cornerstones that must be in place for any possibility of synergy
- The precise Required Performance Improvements (RPIs) implicitly embedded in acquisition premiums and the reasons why these RPIs normally dwarf realistic performance gains
- The seductiveness and danger of sophisticated valuation models so often used by advisers
Binding Type: Paperback
Publisher: Free Press
Published: 10/26/2007
ISBN: 9781416584650
Pages: 304
Weight: 1.00lbs
Size: 9.02h x 5.98w x 0.69d
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★★★★★ 3
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Color: Black
It’s not a bad divider, the instructions are okay but once I figured it out on my own it was easy. The quality is fine I like how it’s made of metal. The only downside is fall for me is the height. I’m 5”4” yet it’s suppose to be 6 feet tall but it seems to be a little shorter than that. If it was taller and the instructions a little more clear it would get 5 stars.
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Reviewed in the United States on May 25, 2026
★★★★★ 4
Nice, lightweight privacy screen.
Color: Black
Nice,lightweight privacy screen. Easy to assemble.
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Reviewed in the United States on May 29, 2026
★★★★★ 5
valuable room divider
Color: Black
This room divider is fantastic! It’s sturdy, lightweight, and super easy to move around. The panels stand firmly without wobbling, and the design adds a nice touch to the room. It creates privacy instantly and works great for separating spaces in my bedroom or office. The material feels durable, and it folds up easily for storage. Perfect for small apartments or anyone needing a quick room solution. Highly recommend
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Reviewed in the United States on December 8, 2025
★★★★★ 5
More detailed, very “real
Color: Black
This room divider is well made and very stable. The folding design is convenient and does not take up much space when stored. It provides great privacy and looks clean and professional. I am very satisfied with this purchase.
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Reviewed in the United States on December 17, 2025
★★★★★ 1
I have no plans today because I had no space
Color: Black
This was not good
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Reviewed in the United States on May 13, 2026