EFFECTS OF MERGERS AND ACQUISITIONS ON BUSINESS GROWTH: CASE STUDY OF SOCIÉTÉ GÉNÉRALE - SOCIAL SECURITY BANK LTD (SG-SSB)
1.0 INTRODUCTION AND BACKGROUND TO THE STUDY
Chief Executive Officers and the Board of Directors of most businesses often think about the growth of their businesses. The reason is that when businesses grow, they yield the best returns other things being equal. Mergers and acquisitions is one of the favored methods used to achieve growth and increase shareholders value. According to Angwin, (2001) mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling and combining of different companies that can aid, finance, or help a growing company in a given industry grow rapidly. Although they are used as though they were synonymous, the terms mergers and acquisitions mean slightly different things. A merger happens when two firms, often about the same size, agrees to go forward as a single new company rather than remain separately owned and operated. (Cartwright, S. and Cooper, C. 1990) .Acquisitions occurs when one company takes over another and clearly established itself as the new owner. SG-SSB is a bank based in Ghana. The name "SG-SSB" stands for Société Générale Social Security Bank. The bank is based in Accra. According to its website it is the 4th largest bank in Ghana and has 37 branches in Ghana. The bank was first known as Social Security Bank but later rebranded its name to Société Générale Social Security Bank after Société Générale; one of the world’s largest banks acquired controlling shares in the bank. The mission of the bank is to create the preferred banking institution, which employs professionalism, team work and innovation to provide quality products and services that best satisfy the needs of its customers. SG-SSB Ltd has been one of the leading banks in Ghana operating...
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