By Bryan Burrough
The conflict for the regulate of RJR Nabisco within the Autumn of 1988, which turned the most important and so much dramatic company takeover in American background, despatched shock-waves during the foreign enterprise international and have become an emblem of the greed, extra and egotism of the eighties.
Barbarians on the Gate recounts this two-month conflict with breathtaking velocity and aptitude, and transports again to the Wall highway empire earlier than it crumbled, throughout the boardroom doorways, into the nighttime conferences, the betrayals, the deal makers and exposure flaks, right into a international the place - as Nabisco CEO Ross Johnson placed it - 'a few million cash are misplaced within the sands of time'.
Twenty years on, the area is once more convalescing from a interval of economic extravagance and irresponsibility. This revised version brings the final word company mystery modern for a brand new iteration of readers.
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Released in England less than the name 'Krupp, The Lords of Essen'
Translated from the German by means of G. H. Smith
Extra info for Barbarians at the Gate
Meeks, G. (1977). Disappointing Marriage: A Study of the Gains from Merger. Cambridge: Cambridge University Press. H. (1985). Negotiations after the sale: The roots and ramifications of conflict in an acquisition. Journal of Occupational Behaviour, 6. Nelson-Horchler, J. (1987). A catchall parachute: Herman Miller has a silver shark repellant. Industry Week, 3 February, 16-17. Pritchett, P. (1985). After the Merger: Managing the Shock Waves. New York: Dow Jones Irwin. M. R. (1987). Executive actions for managing human resources before and after acquisition.
We consistently found similar evidence of increased cohesiveness postcombination in our own research. One of our case studies (reported in detail in Appendix 3) involved a friendly Anglo-French merger between Age Engineering Company and the Nouvelle Compagnie. Even though 77 per cent of Age’s managers reported that they were initially excited and entirely positive about the merger, considering it to be in the best interests of their organization, an immediate ‘them and us’ attitude developed, more characteristic of a territorial battle than any cooperative combination.
In contrast, it is usual for merger partners to function as separate business entities for some time following the announcement of the legal combination. This pre-integration period is likely to continue for many months, in some circumstances a year or more, before there is any actual physical or cultural integration. The process is likely to be further lengthened in cross-border combinations by the language difficulties faced by the partners. It is, therefore, difficult to place any exact timescale on the merger or acquisition process, which may be as short as 36 Managing Mergers, Acquisitions and Strategic Alliances twelve to eighteen months in the case of acquisitions, or between three and five years for mergers.
Barbarians at the Gate by Bryan Burrough