Jan 29, 2015 mergers and acquisition can be categorized according to the nature of merger. Types of mergers legal definition of types of mergers. Valves common types pinch valves pinch valves are used for flow control application, usually to regulate another parameter such as slurry level or thickener underflow % solids. Ball valve, for onoff control without pressure drop. Valves are quite diverse and may be classified into a number types. Types, regulation, and patterns of practice john c. A merger refers to an agreement in which two companies join together to form one company. A statutory merger is one in which all the assets and liabilities of the smaller company is acquired by the bigger acquiring company.
In this article, we look at different types of mergers that companies can undergo. It is critical, however, that the right business partner be identified if you are considering a market extension merger. Valves can be categorized into the following types, based on their operating mechanism. Chapter 2 develops the vital topic of control valve performance. To select the correct valve to fulfill these functions properly, an outline of the different types of valves and their features is given below. An integrated approach to process, tools, cases, and solutions kindle edition by depamphilis, donald. Types of mergers and acquisitions there are many types of mergers and acquisitions that redefine the business world with new strategic alliances and improved corporate philosophies. It works well at both the undergraduate and the graduate level. Mergers and acquisitions definition, types and examples. Monopoly theory it views mergers as being planned and executed to achieve market power. Mergers are rare, since most often companies are acquired by other companies, and it is more of absorption. Consolidation combines them to create the new company c. Results showed that many of these factors have significant explanatory power, leading the authors to the.
From a hostile takeover to a friendly merger or a strategic alliance there are many ways companies can combine forces in this article we look at four of the main types of mergers and acquisitions and provide a minicase study of a wellknown merger that did not turn out as planned. Globe, needle, butterfly, diaphragm, ball, plug, and pinch valve are used as a control valve. Types of mergers mergers appear in three forms, based on the competitive relationships between the merging parties. The vast majority of research in mergers and acquisitions literature uses predefined industry coding systems such as the standard industry classification sic to distinguish between related and unrelated merger and acquisition deals. The valve operating principle relies on a flexible section of pipe being flattened between pinched two moving bars like a vice.
Most mergers are simply done when one firm takeover another firm, but there are different strategic reasons behind this decision. Raider theory this merger will trigger wealth transfers from the stockholders of the companies it bids for. In other words, a merger is the combination of two companies into a single legal entity. What is the difference between a merger and a consolidation. The main parts of the most usual type of valve are the body and the bonnet. Valves are actually fittings, however, are normally talked about as a different classification. The manufacturer sets p1 6 to maximize her own pro. Types of mergers, acquisitions, and corporate restructurings mergers and acquisitions are usually, but not always, part of an expansion strategy. Mergers, acquisitions, andother restructuring activities is intended for students in mergers and acquisitions, corporate restructuring, business strategy, management, and entrepreneurship courses. Swing check valve piston check valve butterfly check valve stop check valve.
The term chosen to describe the merger depends on the economic function, purpose of the business transaction and relationship between the merging companies. Mar 16, 2011 gate valves globe valves plug valves diaphragm valves ball valves butterfly valves needle valves check valves pressure relief valves control valves s slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. The mergers can be classified as follows on the basis of forms of integration. But since the result is to reduce the number of rivals, the potential to harm competition is clear. Relief and safety valves prevent equipment damage by relieving accidental over pressurization of fluid systems. Coates iv1 the core goal of corporate law and governance is to improve outcomes for participants in businesses organized as corporations, and for society, relative to what could be achieved. Let us look at the types of mergers and acquisitions, the ways the companies can do business combinations. Butterfly valve, for onoff flow control in large diameter pipes.
Some valves are capable of throttling flow, other valve types can only stop flow, others work well in corrosive systems, and others handle high pressure fluids. Valves can be categorized also based on their function check valve or nonreturn valve, allows the fluid to pass in one direction only. Valve failure is the single most reason for a scheduled or unscheduled shut down. Different types of valves with pdf file engineering. Four industries where mergers and acquisitions may become the norm of course, in the real world companies merge and acquire one another for other reasons too. In an acquisition, company a buys up a majority of bs stock, or its most valuable assets.
Solenoid valve, an electrically actuated valve for hydraulic or pneumatic fluid control. A merger or acquisition transaction is the combination of two companies into one resulting in either one corporate entity or a parentholding and subsidiary company structure. There are five commonlyreferred to types of business combinations known as mergers. Types of valves summary gate valves are generally used in systems where low flow resistance for a fully open valve is desired and there is no need to throttle the flow. Types of mergers there are five different types of. May 07, 2017 this pdf contains that various types of mergers which exist in an economy. These can vary based on control, purpose, and other criteria. Globe valves are used in systems where good throttling characteristics and low seat leakage are desired and a relatively high head loss in an open valve is acceptable. Effects on customers and suppliers due to mergers and acquisitions johan holtstrom, linkopings universitet, department of management and economics, industrial marketing, se581 83 linkoping, sweden abstract mergers and acquisitions appear to be relatively frequent phenomena in business life today. The text also should interest financial analysts, chief financial officers, operating. In the same way, legal terminology also differs from merger to merger, hence it is important to differentiate and understand the subtle differences. Gate valves also known as knife valves or slide valves are the most common valve used for onoff service but could be used for throttling. Mergers around the world, journal of financial economics lin et al.
In a horizontal merger, one firm acquires another firm that produces and sells an identical or similar product in the same geographic area and thereby eliminates competition between the two firms. Mergers, acquisitions, and other restructuring activities an integrated approach to process, tools, cases, and solutions fifth edition donald m. However, instead of a ball mounted in the valve body a circular disc called a butterfly because the two half circles around the vertical shaft appear like wings. How to build a merger model a basic overview of the key steps.
Another example is when a national company mergers with a locally based company. There are many reasons that companies participate in mergers and acquisitions including eliminating competitors through acquisition, synergy companies. Mergers can categorized by the competitive relationship between the parties and by the legal structure of the transaction. There is one distributor who buys at p1 from the manufacturer, and sells at p2 to the consumers. Ideal for quick shutoff, since a 90 turn completely shutsoff, compared to multiple 360 turns for other manual valves. A valve is a device or natural object that regulates, directs or controls the flow of a fluid by. Companies merge and acquire each other for many different reasons.
Types of mergers financial definition of types of mergers. Valves common types butterfly valves butterfly valves use a similar principle to ball valves. Toward a complete definition of relatedness in mergers and. They can be horizontal deals, in which competitors are combined. May 31, 2004 applied mergers and acquisitions aims to present a onevolume coverage of practice and research in a way that is both pragmatic and rigorous. Mergers and acquisitions summer 2009 example of double monopoly markup suppose p 10. It refers to two firms operating in same industry or producing ideal products combining together. However, other types of mergers that occur as a result of the repercussions of the crisis on a particular sector or company, may be motivated by the reevaluation of the collapsed institution, such as the merger of the bank of america and merrill lynch. A merger takes place when two companies combine together as equals to form an entirely new company.
Applied mergers and acquisitions aims to present a onevolume coverage of practice and research in a way that is both pragmatic and rigorous. Mergers and acquisitions are the ways in which businesses get combined. In order to obtain a clear and systematic understanding of the consumer and welfare effects of mergers, discussed in section 1. Download it once and read it on your kindle device, pc, phones or tablets. Types of manual valves tlv a steam specialist company.
Efficiency theory it views mergers as being planned and executed to achieve synergies. When two companies combine to become one entity, there are many executive compensation issues to deal with. Valves have numerous utilizations, including controlling water for the water system, modern uses for controlling procedures, private uses, for example, onoff and weight control to dish and garments washers and taps in the home. Short notes on different valve types instrumentation tools. Valve types and features the three basic functions of valves are. Mergers and acquisitions have been heating up over the past few years as business valuations continue to rebound and owners look to sell businesses as part of their retirement strategy.
Typically, executive compensation takes the form of. Types of valves summary nuclear power fundamentals. They are linear motion valves and a flat disk or wedge slides into the flow stream to act as flow control element, as shown in below figure. The government does approve many other types of mergers in the business world. Abstract the suction and discharge valves are key parts of every reciprocating compressor.
Mergers, acquisitions, and other restructuring activities. Learn how mergers and acquisitions and deals are completed. From the business structure perspective, some of the most common and significant types of mergers and acquisitions are listed below. Aug 11, 2010 a takeover of merger is vertical where one of two companies is an actual or potential supplier of goods or services to the other, so that the two companies are both engaged in the manufacture or provision of the same goods or services but at the different stages in the supply route for example where a motor car manufacturer takes over a manufacturer of sheet metal or a car distributing firm. Apart from describing the main kinds of mergers, it also talks about the various mis slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Mergers and acquisition is a contemporary issue culminating the effect of recapitalisation of banks in nigerian financial system, sequel to the increase of the capital base of banks from n2billion to n25billion through consolidation mainly by mergers and acquisition and management buyout. Aug 22, 2019 one company can combine with another by merger, acquisition or consolidation. The general types of check valves are swing, tiltingdisk, piston, butterfly, and stop. Effects on customers and suppliers due to mergers and. They can be little intricate to understand all the legal and tax issues surrounding the deals. The goal of the market extension merger is to gain access to a larger market and therefore, a greater client base. A control valve that regulates the flow of fluid falls in the regulation category.
973 934 1020 747 262 1158 1270 865 793 1022 231 1498 1313 857 275 394 422 695 807 97 153 1100 286 866 152 1380 217 236 1476 367 1207 1245 48 460 185 986 476 820 1379 322 898 1259 176 719 236 177