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Stock impact report

Vitaliy Katsenelson's Contrarian Edge: Here’s the real secret about why corporate mergers fail [MarketWatch]

HP Inc. (HPQ) 
Last hp inc. earnings: 2/24 04:05 pm Check Earnings Report
US:NYSE Investor Relations: h30261.www3.hp.com
Company Research Source: MarketWatch
Opinion: Here’s the real secret about why corporate mergers fail Corporate acquisitions often fail for one simple reason: the buyer pays too much. An old Wall Street adage comes to mind: Price is what you pay, value is what you get. It all starts with a control premium. When we purchase shares of a stock, we pay a price that is within pennies of the last trade. When a company is acquired, the purchase price is negotiated during long dinners at fine restaurants and comes with a control premium that is higher than the latest stock quotation. How much above? Acquisitions have the elements of a zero sum game. Both buyer and seller need to feel that they are getting a good deal. The seller has to convince both directors and shareholders that they are selling at a high (unfairly good) price. The buyer, meanwhile, must convince those same constituents that they are getting a bargain. Remember, both are talking about the same asset. This is where a magic word — which must have been invented b Show less Read more
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