Problems with Mergers and Acquisitions
"We launched our offer to give Wachovia shareholders a choice, and the shareholders overwhelmingly endorsed our deal," said Phil Humann, chairman, president and CEO of SunTrust Bank, "Basically the investment community in New York and Boston got cold feet, so we lost. But it was a perfect deal, and if the same circumstances occurred, we'd do it again." At SunTrust Bank and in the banking industry, in general, mergers and acquisitions are a work related problem all too often. This paper will describe the setting, frame the problem in two different ways…
