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Corporate Control in the UK Building Society Sector: An Examination of Failed Mergers

Research output: Contribution to Journal/Magazine › Journal article › peer-review

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Corporate Control in the UK Building Society Sector: An Examination of Failed Mergers. / Ingham, Hilary; Wong, Pauline.
In: The Service Industries Journal, Vol. 14, No. 3, 30.09.1994, p. 352-368.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Ingham, H & Wong, P 1994, 'Corporate Control in the UK Building Society Sector: An Examination of Failed Mergers', The Service Industries Journal, vol. 14, no. 3, pp. 352-368. https://doi.org/10.1080/02642069400000038

APA

Ingham, H., & Wong, P. (1994). Corporate Control in the UK Building Society Sector: An Examination of Failed Mergers. The Service Industries Journal, 14(3), 352-368. https://doi.org/10.1080/02642069400000038

Vancouver

Ingham H, Wong P. Corporate Control in the UK Building Society Sector: An Examination of Failed Mergers. The Service Industries Journal. 1994 Sept 30;14(3):352-368. doi: 10.1080/02642069400000038

Author

Ingham, Hilary ; Wong, Pauline. / Corporate Control in the UK Building Society Sector : An Examination of Failed Mergers. In: The Service Industries Journal. 1994 ; Vol. 14, No. 3. pp. 352-368.

Bibtex

@article{96799009d03c442e8a049ba2bf8e847f,
title = "Corporate Control in the UK Building Society Sector: An Examination of Failed Mergers",
abstract = "In this article we focus on the market for corporate control in the UK building society sector. The universal mutuality of this sector protects societies from external bids but there is a buoyant volume of intra-sector take-over activity. We examine the trends in this activity and discuss why external growth is strategically chosen by societies. An additional facet of take-over activity which we consider is mergers which are abandoned. Using two case studies we examine ex ante reasons why the proposed mergers appeared attractive to the societies concerned and conjecture as to why ex post they failed. Our analysis suggests that, in one of our cases, although ex ante assessment reveals potential benefits, ex post the revelation of further information on the financial base of one of the societies made it an unattractive merger partner. For our other case we are unable to establish the existence ex ante of potential benefits and conclude that the attainment of large size was a major motivational force.",
author = "Hilary Ingham and Pauline Wong",
year = "1994",
month = sep,
day = "30",
doi = "10.1080/02642069400000038",
language = "English",
volume = "14",
pages = "352--368",
journal = "The Service Industries Journal",
issn = "0264-2069",
publisher = "Frank Cass Publishers",
number = "3",

}

RIS

TY - JOUR

T1 - Corporate Control in the UK Building Society Sector

T2 - An Examination of Failed Mergers

AU - Ingham, Hilary

AU - Wong, Pauline

PY - 1994/9/30

Y1 - 1994/9/30

N2 - In this article we focus on the market for corporate control in the UK building society sector. The universal mutuality of this sector protects societies from external bids but there is a buoyant volume of intra-sector take-over activity. We examine the trends in this activity and discuss why external growth is strategically chosen by societies. An additional facet of take-over activity which we consider is mergers which are abandoned. Using two case studies we examine ex ante reasons why the proposed mergers appeared attractive to the societies concerned and conjecture as to why ex post they failed. Our analysis suggests that, in one of our cases, although ex ante assessment reveals potential benefits, ex post the revelation of further information on the financial base of one of the societies made it an unattractive merger partner. For our other case we are unable to establish the existence ex ante of potential benefits and conclude that the attainment of large size was a major motivational force.

AB - In this article we focus on the market for corporate control in the UK building society sector. The universal mutuality of this sector protects societies from external bids but there is a buoyant volume of intra-sector take-over activity. We examine the trends in this activity and discuss why external growth is strategically chosen by societies. An additional facet of take-over activity which we consider is mergers which are abandoned. Using two case studies we examine ex ante reasons why the proposed mergers appeared attractive to the societies concerned and conjecture as to why ex post they failed. Our analysis suggests that, in one of our cases, although ex ante assessment reveals potential benefits, ex post the revelation of further information on the financial base of one of the societies made it an unattractive merger partner. For our other case we are unable to establish the existence ex ante of potential benefits and conclude that the attainment of large size was a major motivational force.

U2 - 10.1080/02642069400000038

DO - 10.1080/02642069400000038

M3 - Journal article

AN - SCOPUS:0010950222

VL - 14

SP - 352

EP - 368

JO - The Service Industries Journal

JF - The Service Industries Journal

SN - 0264-2069

IS - 3

ER -