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Essay / Research Paper Abstract
In mature industries merger and acquisitions are increasingly popular, taking place for defensive and aggressive strategic purposes. This 8 page paper examines the purpose and potential of mergers with a focus in the merger between the major energy companies Texaco and Chevron. The bibliography cites 5 sources.
Page Count:
7 pages (~225 words per page)
File: TS14_TEmergtex.rtf
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Unformatted sample text from the term paper:
industries mature there are increased pressures for merger and acquisitions so that these advantages may be achieved. The oil industry is one where there have been many pressures with fluctuating
profits and the need for high levels of investment. If we look at the merger that has taken place between two large oil companies; Texaco and Chevron the perceived benefits
and the way that this is or in not realised may be examined. Although we are looking at these two companies many of the theories and lesson may be
applied to other companies. 2. Background It can be argued it is due to the search for cost advantages by way of economies
of scale and scope as well as market share that lead many companies to peruse a company policy of mergers or acquisitions and the acquisition of advantages of differentiation has
lead to the increased occurrence of mergers and acquisitions. Mergers or acquisitions may bring resources, including human intellectual knowledge as well as patents to a company which can be
used to further the differentiation of a product or a service. Alternatively, the purchase of the company or the merger may bring that competitive advantage to the newly formed merger
or parent company. It is true that in the competitive market the newer companies may often not be able to compete by way of cost advantage so they look to
differentiation and niche markets. The lack of financial strength may be the element that leaves them vulnerable to a take-over or merger, friendly or hostile and mergers may also be
seen as defensive. Texaco and Chevron were both major oil companies. The result of the merger is a company that is the
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