Mergers and acquisitions with a focus on resources and organizational capabilities

Abstract

This article aims to understand the focus given in mergers and acquisitions (M & A) operations for the acquisition of new resources and strategic capabilities. It is based on the resource-based view (RBV) and descriptive exploratory qualitative research. We interviewed nine officials who have managed these operations in large companies in different types of businesses in Brazil. Data were processed and analyzed by applying content analysis. Two groups of companies regarding the focus of resources and capabilities in M & A transactions were identified: those with a tangible-intensive profile that physical assets were considered sought-after and strategic and those characterized with an intangible-intensive profile that de-emphasized capacity. The competitive advantages sought by these companies aimed at raising the perceived value by customers to expand their market and maximize returns and benefits for the shareholders. The adoption of an M & A strategy effectively enabled the expansion of the portfolio of products and services offered to customers