RESEARCH ESSAY

Research Essay

Declaration

This project is entirely my own and includes nothing that could be interpreted as plagiarism of any other published or unpublished research or of any other student's unpublished work.

Table of Contents

INTRODUCTION4

BACKGROUND OF THE SRUDY6

Aims and objective9

LITERATURE REVIEW9

Process and Outcome Considerations in Hostile Takeovers9

Takeovers and Defense Tactics11

Process and Outcome Considerations in Mergers and Acquisitions13

MERGERS17

Acquisitions17

Joint Ventures18

Strategic Alliances19

The Merger Syndrome21

Personal Signs of the Merger Syndrome22

Organizational Signs of the Merger Syndrome23

Cultural signals of the Merger Syndrome24

Making Mergers, Acquisitions, And Alliances Work25

HYPOTHESIS, DATA & METHODOLOGY27

RESULTS30

Merger swell and Merger Performance30

Real Value31

Shareholder Value35

Statistical analysis48

LIMITATIONS AND FURTHER RESEARCH48

SUMMARY & CONCLUSION52

BIBLIOGRAPHY57

Research Essay

Introduction

Based in Liverpool, Stanley Leisure plc is the joined Kingdom's biggest casino operator and fourth-biggest operator of wagering shops. In supplement, the publicly swapped business is engaged in online wagering and has concerns in wagering projects in Italy and Bermuda. Stanley splits up its enterprise between two functioning partitions: gaming and betting. The gaming partition is to blame for running Stanley's 41 casinos, of which 37 are established in the provinces and four in London. The division furthermore sprints its own online sports wagering site, www.stanleybet.com., which is dedicated to sports wagering as well as occasional specialty wagers, such as the eventual winner of the large-scale male sibling truth television series. Stanley's executive head person is its founder, Leonard Steinberg. While proponents argue that well planned MA&Ts enhance both the value of the firm and the value of the firm to the larger society, critics respond that far too many of these combinations are undesirable and ill-conceived. In these latter instances, MA&Ts are suggested to create far more harm than benefit for an array of internal (e.g., shareholders, managers, employees) and external (e.g., customers, suppliers, unions, local communities) stakeholders, many of which are not directly considered in the decision-making process.

Leonard Steinberg's grandparents were Jews who got away the pogroms in Poland and Russia during the early 20th years, settling in Manchester, England, and then to the north Ireland. Steinberg grew up in Belfast, the child of Stanley Steinberg, who owned and operated an optical constructing enterprise and a milk bar in supplement to running an illicit wagering shop as a hobby.

Stanley intensified on the lower-end of the wagering market and over the next ten years supplemented some ten shops across Ulster. He furthermore started taking wagers from customers in England before betting stores were legalized there. It was in England that his future lay, especially in lightweight of the advanced grade of violence that afflicted Northern Ireland. "At that time," he notified the press in a 1997 interview, "there was no large distinction between the IRA and the extremists on the Protestant side. They were all at the defence racket. We refused to pay." Some of his shops were set ablaze and his employees threatened. By the early 1970s, Steinberg, who as an Ulster Unionist was a goal of the IRA, determined to relocate his business over the Irish Sea. He begun out by functioning two betting shops on the Isle of Man, which were pursued ...