Mergers & High Tech Industries
INTRODUCTION
This research examines merger a
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This research examines merger and acquisition activity in American high technology industries. The findings of this research are presented in discussions dealing with the back ground to the situation, and the current status of the situa tion, and concludes with a projection for the future. Of par ticular interest is how such mergers and acquisitions will likely be financed in the future.When one thinks of merger and acquisition activity in high technology industries, the most prevalent conception is of a union of firms engaged in similar endeavors. In fact, how ever, firms outside of the high technology classification often acquire high technology firms. Conversely, some high technol ogy firms also make acquisitions outside of the high technology classification. For the purposes of this current research, however, only deals involving the acquisition of an American high technology firm (by either another high technology firm, or by a firm from outside of the high technology classifica tion) were considered. Of particular concern to many people in the United States in the early 1990s, is the potential for American high technol ogy firms to be acquired by foreign firms the fear being that the United States will lose either or both control over the pace and direction of high technology development, and, possibly, the ability to compete globally in high technology markets. To a great extent, these fears appear to hold some degree of va
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alue Profit Change (%) Merger
Merger Non Merged
Hybritech 1986 $ 375 mil. 1.5 + 0.0 Eli Lilly
RCA GE 1985 $ 6.0 bil. 1.2 12.0
ROLM IBM 1984 $ 1.2 bil. 6.1 4.0
Sanders/Lockheed 1986 $ 1.2 bil 9.1 4.0
Sperry/ 1986 $ 4.4 bil. + 6.4 + 0.0Burroughs (Unisys)
Tymshare 1984 $ 306 mil. 1.4 + 1.0McDonald/Douglas
[sources: W. T. Grimm & Co., 1987; W. T. Grimm & Co., 1986; Standard & Poor's Compustat Services, 1984, 1985, 1986, 1987, 1988]
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As the data presented in Table 4
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Some common words found in the essay are:
Sperry Burroughs, Compustat Services, IBM DEC, Burroughs Sperry, Grimm Co, Company Inc, BACKGROUND SITUATION, Business Week, Sanborn Company, Lilly RCA GE, surviving company, market share, business week, 1986 $, grimm co, standard poor's compustat, high technology firms, standard poor's, american high technology, poor's compustat, sperry burroughs, $ 12 bil, changes surviving firms, merger acquisition activity, poor's compustat service,
Approximate Word count = 3324
Approximate Pages = 13 (250 words per page)
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INTRODUCTION
This research examines merger a
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