s and threats" (Johnson & Tonnemacher, 1999). Moreover, "insufficient resources are allocated to establishing strategic objectives" or "acquiring companies fail to achieve buy-in from all key stakeholders" (Johnson & Tonnemacher, 1999). Arthur Andersen states that "Before even contemplating specific deals, a company should initiate a planning process by articulating its corporate strategy and goals. Only then is it in a position to consider mergers and acquisitions to fortify weaknesses, fill gaps or take advantage of opportunities to jump ahead of the competition" (Johnson & Tonnemacher, 1999). Arthur Andersen recommends "
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