Abstract: The book addresses the different ways in which foreign companies acquire, integrate, and manage UK companies and their post-acquisition performance. It is based on research comprising case studies on forty company visits and interviews, and a survey questionnaire on post-acquisition management completed by over 200 companies. The first five chapters review post-acquisition performance and the changes in management practice introduced by acquirers of different nationality. The scale and scope of M&A is examined, followed by research into post-acquisition performance. The disappointing performance of acquisitions is noted, and knowledge about post-acquisition management reviewed. Chapter 4 discusses the debate over the relative significance of national management practices and international norms of practice. Chapter 5 compares management practices of the five countries from which the acquirers in this book originate. A further chapter describes the research scope and methods. Seven chapters then present the results of the study. They indicate that while considerable convergence in management practice is occurring, national management styles still exist among acquiring companies from the UK, USA, Japan, France, and Germany. Furthermore, although some policies are generally associated with better post-acquisition performance, no one national approach is more successful if it is implemented with confidence, determination, and consistency. Failure tends to follow from a lack of these qualities, rather than the ‘wrong’ management style. The book concludes with the findings of the research and relates them to the issues of theory and practical policy in the early chapters.

Keywords: integration, performance, UK, US, France, Germany, Japan