Mergers and Acquisitions and Productivity in the U.S. Meat Products Industries: Evidence from the Micro Data |
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| Authors: | Sang V Nguyen and Michael Ollinger |
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| Institution: | Sang V. Nguyen is a senior economist at the Center for Economic Studies at the U.S. Bureau of the Census. Michael Ollinger is an economist at the Economic Research Service of the U.S. Department of Agriculture. |
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| Abstract: | This article investigates the motives for mergers and acquisitions (M&As) in the U.S. meat products industry from 1977 to 1992. Results show that acquired meat and poultry plants were very productive before mergers, and that all but the very largest meat slaughter and processing plants and all but the bottom 20% of the poultry slaughter and processing plants significantly improved their productivity growth in their postmerger periods. These results lead to the conclusion that synergies and related efficiencies are important motives for M&As. |
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| Keywords: | acquisitions meat industries mergers productivity structural change |
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