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The limits to portfolio restructuring: lessons from regional consolidation in the US department store industry

Wood, Steve (2002) The limits to portfolio restructuring: lessons from regional consolidation in the US department store industry Regional Studies, 36, (5), pp. 515-529. (doi:10.1080/00343400220137128).

Record type: Article

Abstract

The relationship between merger and acquisition activity and the making of competitive space remains an underemphasized theme within contemporary economic geography. This paper seeks to add to this debate through a case study of the regional consolidation strategies of US department store firms during the 1990s. It seeks to establish lessons regarding the importance of competitive space, synergy and due diligence in the analysis of potential consolidation targets and how neglect of these factors is likely to result in failure of the constituent firms. Au sein le gographie conomique, le rapport entre les activits de fusion et d'acquisition et la cration d'un espace comptitif reste une question laquelle on ne donne pas assez d'importance. Cet article cherche contribuer ce dbat par moyen d'une tude de cas des stratgies de consolidation rgionales des grands magasins aux Etats-Unis pendant les annes 1990. Il cherche en tirer des leons quant l'importance de l'espace comptitif, de la synergie et de la diligence normale dans l'analyse des cibles de consolidation ventuelles, et comment ne pas faire attention ces facteurs risque de finir par l'chec des entreprises constituantes. Die Beziehung zwischen Fusion und Erwerbesinn, und der Schaffung von Wettbewerbsraum ist ein immer noch wenig behandeltes Thema der modernen Wirtschaftsgeographie. Dieser Aufsatz versucht, zu der Debatte beizutragen, indem er den Fall regionaler Zusammenlegungsstrategien von Warenhausfirmen in den Vereinigten Staaten whrend der neunziger Jahre darstellt. Er versucht, daraus Lehren fr die Bedeutung von Wettbewerbsraten, Synergie und den ntigen Flei zu ziehen, und zu zeigen, wie Vernachlssigung dieser Faktoren durchaus zum Scheitern der einzelnen Teilfirmen fhren kann.

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More information

Published date: July 2002
Keywords: consolidation, synergy, merger, acquisition, retailing, portfolio restructuring
Organisations: Management

Identifiers

Local EPrints ID: 178219
URI: http://eprints.soton.ac.uk/id/eprint/178219
ISSN: 0034-3404
PURE UUID: d42dc966-f51a-4606-b10f-4791c7909384

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Date deposited: 24 Mar 2011 09:52
Last modified: 18 Jul 2017 12:04

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Contributors

Author: Steve Wood

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