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| Author: | Gillan, S. L. Kensinger, J. W. Martin, J. D. |
| Title: | Value creation and corporate diversification: the case of Sears, Roebuck & Co. |
| Journal: | Journal of Financial Economics
2000 : JAN, VOL. 55:1, p. 103-137 |
| Index terms: | Companies Mergers Diversification USA |
| Freeterms: | Restructuring |
| Language: | eng |
| Abstract: | In this paper, clinical evidence of corporate restructuring is provided at Sears, Roebuck & Co., beginning with the firm's 1981 diversification into financial services, by acquiring Coldwell, Banker & Co. and Dean Witter, Reynolds Inc. The initial purchases resulted in a wealth gain to shareholders of appr. USD 400 million. |
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