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Premier Foods : the great illusion of “future potential”

Cowardice or wisdom? Having developed steadily for three decades through a mix of organic growth and acquisitions since its foundation in 1975 till its listing on the London Stock Exchange in 2004, Premier Foods’ M&A strategy became increasingly bold from 2004 onwards, broadening its portfolio of brands to include Ambrosia from Colman (Unilever), as well […]

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Foxconn’s blunt response to Sharp

The epitome of Kabuki drama The absolute climax of M&A drama unfolded this week in Japan, after a sequence of events that comprised all the ingredients of a great tragedy: past glory, decline, hope, power, notional pride, salvation, betrayal, distrust, deceit and humiliation.  End of Act One. The curtain has gone down, leaving the audience […]

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All lights turned off for Philips’ sales of Lumileds

Dutch group’s strategy marred by the US regulators We have become accustomed over the years merger and acquisition deals being blocked by the regulators of various countries on the grounds of risks of market dominance by the proposed merged business. The severity with which these regulators have defined the threshold of what they believe constitutes […]

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Publicis – Omnicom : A Predictable Failure

How can two world-renowned business leaders commit first-time-beginner mistakes ? Told you so … Some critics, journalists and experts from all walks of life relish in pointing out how accurately they had predicted a business failure many months before it occurred.  One year exactly after Publicis and Omnicom announced their plan to merge, I don’t […]

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A hard lesson for Pfizer : it can sometimes take more than Viagra® to seduce.

A month of intense courtship ends in rejection When Pfizer, the inventor of Viagra, announced on 28th April its interest in acquiring AstraZeneca,  the latter’s shares jumped by more than 14% and kept investors on the edge of their seats during a whole month as they watched the bid rise higher and higher, but not […]

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