Corporate Merger Madness

Questions about corporate takeovers become more and more insistent. There is a fear that takeovers sap America’s competitive strength and contribute to an unhealthy obsession with short-term growth.

While defenders of takeovers have taken the position that few negative effects have been demonstrated, a strong case can be made against them. Peter Drucker recently commented that the SEC, founded to protect investors against the financial wolves, has by encouraging takeovers become ...