Leemos en Knowledge Wharton el artículo Sears-Kmart Merger: Is It a Tough Sell? dónde recogen la opinión de diferentes de profesores de Wharton sobre la bondad de la fusión entre Kmart y Sears ( ver: Kmart-Sears, fusión de perdedores )
“Here you have two retailers who are doing badly right now and who don’t really see a clear way to pull themselves out of the downward spiral,”"It’s hard to fathom how combining them is suddenly going to produce a new entity that will do better. That’s tough to do, especially because the competition, including Wal-Mart and Target, isn’t exactly standing still.” ….Prof. Stephen J. Hoch
“The rationale for this merger clearly has to be operations efficiencies, including the ability to compete more effectively against Wal-Mart, which is the leader in that area. If this is the goal of the merger, then it makes sense,”
“But that isn’t enough, in and of itself, for success. Sears has been struggling for a long time, as has Kmart. Two struggling companies coming together potentially make a bigger struggling company. At the same time, if the merger is done strategically and wisely, it will provide the scale” …prof. Barbara Kahn
Parece que el mundo académico es un poco escéptico respecto a las supuestas bondades de la fusión. La premisa es tan sencilla como lógica: perdedor+ perdedor = perdedor
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65% of mergers don’t increase the value of new shares.
In this case will be included with 35%
of winners!!!!!! only if this merger increase the globalization of purchases.
Ricardo Roglá de Leuw Mergers consultant in Spain since 1987