The 10 dumbest mergers ever
Half the fun of a big merger or acquisition is the doing of the deal. But if the folks in charge forget the other half -- managing the numbers and fitting the pieces together -- even the biggest deals can crash and burn.
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Again, MSN didn't do its research. Daimler wanted Chrysler only to get their greedy hands on the $6 BIllion in cash that Chrysler had at the time, and to gain ownership of some of the US markets/distribution centers where Daimler had not been before. Otherwise they would have loved to shut down a US sales competior...and to take ownership of Jeep. To say that problems at Chrysler "sopped up so much cash that Mercedes quality began to suffer" is pure malarky. Chrysler was profitable at that time and had the cash to show it.
THe Bank of America / Country Wide / Merrill Lynch was going to happen no matter what.
Former CEO Ken Lewis stood to gain a $37M bonus if the deal went thru. He did not care about the bank or the employees, only his pocketbook.
Because of the merger, the bank needed the Government bailout.
Then in order to obtain his year end bonus Lewis had to meet profit objectives - so Lewis laid off 1500 employees in order to meet that commitment and get another $5m bonus.
He then retired!
Heres one not on the List, We were told back in 2008 that Ambev would merge with Anheuser Busch to be one huge great company. Have the photo when Brito came to Saint Louis and the Company people were clapping for him being there. Then within a year almost all were fired. This was not a Merger like we were lied too. But a hostile take over. Remember Mr Busch,(NOT ON MY WATCH) I guess you were to busy making a line or buying a new Car for your collection. Well now Inbev gets its pay back by almost all Michelob products are down over 70%. Yes Jimmy there is a GOD!
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