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Mergers (and regulation) create value shock!

  • Paul Mason
  • 3 Apr 06, 11:10 AM

With Lucent and Alcatel tying the knot today, in just the latest of the mega-takeovers there are a lot of people here in the world of cuff-links and Crystal (business I mean, not Newsnight) musing about how much good takeovers actually do. Quite a lot, says Scott Moeller, and he should know.

First, though a duffer's guide: a merger is where two companies merge; an acquisition is where one buys the other. Together they are known as "M&A" and there are whole swathes of city people who specialise in making money from the transaction. Here's where the scepticism comes in...

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