Publications

29 Nov 2022
Cold Call Podcast

How Will Gamers and Investors Respond to Microsoft’s Acquisition of Activision Blizzard?

Keywords: Re: Joseph Pacelli; Technology; Media & Broadcasting

February 2024
Case

Oak Street Health: From Start-up to Strategic Acquisition

By: Leemore S. Dafny and Thomas H. Lee

Oak Street Health opened its first primary care center for seniors in underserved communities in 2013. By 2022 the company had 169 centers and a market valuation exceeding $10 billion. Oak Street created value by accepting risk-adjusted, capitated payments for Medicare... View Details

Keywords: Value Creation; Mergers and Acquisitions; Business Strategy; Health Industry

September 2015 (Revised February 2023)
Case

Emdeon's Acquisition of Change Healthcare: Innovating Transparency Solutions for Health Care Consumers

By: Regina E. Herzlinger, Jeet Guram and Aanchal Raj

Case describes acquisition of Change Healthcare, which provides health care cost and quality information, by Emdeon, a health information exchange, and discusses health care transparency. Emdeon is a billion-dollar company that has grown through acquisitions; at its... View Details

Keywords: Healthcare; Healthcare Industry; Healthcare Innovation; Health Care and Treatment; Acquisition; Integration; Analytics and Data Science; Mergers and Acquisitions; Competitive Strategy; Health Industry; United States

2011
Working Paper

The Impact of Horizontal Mergers and Acquisitions in Price Competition Models

The question of what impact mergers and acquisitions have on key equilibrium performance measures is fundamental to our understanding of competitive dynamics in an oligopolistic industry. We address these questions in the context of price competition models with... View Details

Keywords: Mergers and Acquisitions; Cost; Price; Profit; Duopoly and Oligopoly; Performance Efficiency; Mathematical Methods; Competition

August 1999 (Revised February 2000)
Case

Cisco Systems, Inc.: Acquisition Integration for Manufacturing (B)

By: Steven C. Wheelwright and Christian G. Kasper

Supplements the (A) case. View Details

Keywords: Manufacturing Industry; Technology Industry; England

2006
Other Paper

State Activism and the Hidden Incentives behind Bank Acquisitions

By: Christopher Marquis and Doug Guthrie

24 Feb 2025
Podcast

From W-2 Job, To Startup Life, To Acquisition Entrepreneurship

In May of 2024, after a self-funded search, Brian Seeling became CEO of PGM Service, a Florida-based company that focuses on maintenance, service, and repair of commercial food equipment. His journey to become an acquisition entrepreneur is distinct in that he first... View Details

16 Mar 2025
News

How a Female-Led AI Startup Achieved a Successful Acquisition

2008
Working Paper

Structural Closure and Exposure: Market Reactions to Announcements of Acquisitions and Divestitures

By: Mikolaj Jan Piskorski and Nitin Nohria

This paper develops an exchange-network perspective on corporate diversification and proposes two measures of corporate scope: structural closure and structural exposure. Structural closure focuses on exchanges of goods and services inside the firm... View Details

Keywords: Mergers and Acquisitions; Market Transactions; Diversification; Boundaries; Valuation

December 2015
Case

KKR, Ringier Digital, and the Acquisition of Scout24 Switzerland

By: Josh Lerner and Nathaniel Burbank

Spring 1970
Article

EPS Growth from Financial Packaging: An Accounting Incentive in Acquisitions

By: Henry B. Reiling

Keywords: Accounting; Acquisition; Finance; Growth and Development

Find at Harvard

2023
Working Paper

Firm Visibility and Acquisition Likelihood: Evidence from Seeking Alpha Coverage

By: Pu Gu, Benjamin Yost and Yuan Zou

This study investigates whether social media coverage influences a firm’s likelihood of being acquired. Specifically, we hypothesize that coverage of a firm on the Seeking Alpha platform raises its visibility to potential acquirers and M&A advisers (i.e., investment... View Details

Keywords: Social Media; Mergers and Acquisitions; Marketplace Matching; Investment Banking

SSRN

October 2001 (Revised November 2001)
Case

Provident Life and Accident Insurance: The Acquisition of Paul Revere

By: Mihir A. Desai, Frank Williamson, Mark Veblen and Yuming Zou

Provident Life & Accident Insurance Co. has made an initial bid to acquire a primary competitor, Paul Revere, from conglomerate, Textron. The due diligence process uncovers a significant block of problematic disability insurance policies. Provident is forced to assess... View Details

Keywords: Insurance; Financial Management; Mergers and Acquisitions; Policy; Investment; Business Strategy; Cash Flow; Price; Bids and Bidding; Financial Reporting; Business Conglomerates; Insurance Industry; Service Industry

2005
Chapter

Concepts Fondamentaux de la Finance et Fusions et Acquisitions

By: Marc L Bertoneche

Keywords: Mergers and Acquisitions; Finance

Find at Harvard

Research Summary

2. Acquisitions of Industrial Units and the Evolution of Operational Performance across the Firm

Abstract: Manufacturing firms frequently expand their production capacity through the acquisition of industrial units. How are the existing units in the acquirer company affected by the acquisition of another facility? I argue that two important... View Details

June 1998 (Revised May 2001)
Teaching Note

Acquisition of Consolidated Rail Corporation, The (A and B) TN

By: Benjamin C. Esty and Mathew M Millett

Teaching Note for (9-298-006) and (9-298-095). View Details

Keywords: Mergers and Acquisitions; Rail Industry

October 2004
Article

Why Acquisitions of Professional Partnerships by Public Corporations Often Fail

By: Ashish Nanda

2021
Working Paper

Public Disclosure of Private Meetings: Does Observing Peers' Information Acquisition Affect Analysts' Attention Allocation?

By: Yi Ru, Ronghuo Zheng and Yuan Zou

We investigate the impact of observing peers’ information acquisition on financial analysts’ attention allocation. Using the timely disclosure mandate by the Shenzhen Stock Exchange as a setting, we find that, when analysts can observe that a firm is visited by other... View Details

Keywords: Attention Allocation; Informational Efficiency; Corporate Site Visits; Externalities; Information; Acquisition; Corporate Disclosure; Outcome or Result

December 2017
Teaching Note

KKR, Ringier Digital, and the Acquisition of Scout24 Switzerland

By: Josh Lerner

Teaching Note for HBS No. 816-059. View Details