Everybody knows that most mergers and acquisitions regularly fail to deliver the promised benefits; in fact many actually destroy value. This is especially so where there are complex clashes of corporate or national culture to take into account.
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Piero Morosini is Professor of International Management, M&As and Environmental Management at IMD. Previously he was a full professor at the European Business School, a guest professor at St. Gallen University and a Fellow at Harvard University. Before becoming involved in management education, he was active in German politics. He was Minister of Economics and Technology in the state of Hesse and a member of the German Bundestag. Ulrich Steger has worked with companies and executives on M&A issues throughout his professional career, most recently in his role as director of all DaimlerChrysler in-company executive programs and research initiatives at IMD, as well as a series of executive programs with Allianz Dresdner. He has written numerous books and articles on international management, mergers and acquisitions, and environmental issues.
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