A Quote by Roger Altman

Mergers generate substantial synergies. — © Roger Altman
Mergers generate substantial synergies.
Reasonable mergers generate substantial synergies, so that provides for earnings and cash-flow growth even if it doesn't provide for revenue growth, and I think that's a big driver.
The reason we avoid the word 'synergy' is because people generally claim more synergistic benefits than will come. Yes, it exists, but there are so many false promises.Berkshire is full of synergies - we don't avoid synergies, just claims of synergies.
Whereas Jimmy Carter had aggressively pursued anti-merger activity - the imbecilic case against AT&T was prosecuted under President Carter - Mr. Reagan understood the virtue of allowing companies to exploit the synergies of mergers to gain efficiency and lower costs.
Synergies are not only about cost reduction. Synergies can be access to markets, exchange of products, avoiding overlaps, exchange of best practices.
If we come to the conclusion after 90 days that the synergies are big enough to justify the efforts, then we can go to the second step, which consists of saying: what would be the best organization and conditions - including shareholdings - in order to make sure the synergies happen.
Synergy is the driver. There are two levels of synergy: there are operating synergies, which, you know, you'd have to be stupid not to try to take advantage of, and then there are strategic synergies. In other words, in what positions you would be more sustainable, more long term, and so on.
Much of what is called investment is actually nothing more than mergers and acquisitions, and of course mergers and acquisitions are generally accompanied by downsizing.
The big-business mergers and the big-labour mergers have the appearance of dinosaurs mating.
We knew from theoretical models that mergers of massive, gas-rich galaxies were more frequent in the past. Now we've found that these mergers are responsible for producing both the nearby obscured quasar population and their distant cousins.
Any substantial tax reform would involve substantial redistributions of tax burdens and substantial changes in asset values, and you need some 'lubrication' (i.e., transition rules).
If the first inward thought is not warded off, it will generate a desire, then the desire will generate a wish, and the wish will generate an intention, and the intention will generate the action, and the action will result in ruin and divine wrath. So evil must be cut off at its root, which is when it is simply a thought that crosses the mind, from which all the other things follow on.
I get really restless if I'm not working. I generate or try to generate my own stuff. I'm constantly on the prowl for working with the people I love and respect.
Life and love generate effort but effort will not generate them.
Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop.
We get talent and scale from mergers.
Mergers and acquisitions, we are always looking for that.
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