WorldWideScience

Sample records for premerger notification merger

  1. OPTIMAL PRE-MERGER NOTIFICATION THRESHOLDS: A CONTRIBUTION TO THE ITALIAN DEBATE

    Directory of Open Access Journals (Sweden)

    Paolo Buccirossi

    2014-12-01

    Full Text Available This paper outlines a theoretical framework to define the optimal notification thresholds so as to minimize the sum of Type I and Type II error costs. Results suggest that, when the notification rule takes into account in a cumulative way both the aggregate turnover of the merging parties and their individual turnover, the optimal values of these turnovers are interdependent. The model is then applied to the Italian case. The value of the threshold for the aggregate turnover has been obtained by benchmarking the rules set in the EU Member States through a simple econometric exercise. The value of the threshold for the individual turnover is then calculated applying the theoretical framework and the estimated costs of Type I and Type II errors.

  2. The challenge of merging : Merger patterns, premerger status, and merger support

    NARCIS (Netherlands)

    Giessner, [No Value; Täuber, Susanne; Viki, GT; Otten, S; Terry, DJ; Giessner, S.R

    Employees of merging organizations often show resistance to the merger. The employees' support depends on the companies' premerger status and on the merger pattern. Based on an inter-group perspective, three studies were conducted to investigate the influence of premerger status (high, low) and

  3. The University of Johannesburg merger: Academics experience of the pre-merger phase

    Directory of Open Access Journals (Sweden)

    G. A. Goldman

    2006-12-01

    Full Text Available Purpose of the study: The aim of this study is to gain an understanding of the merger experiences academic staff were exposed to during the pre-merger phase of the University of Johannesburg merger. Of particular interest is how these experiences translate into acceptance of the merger amongst academic staff. The study was borne out of the transformation of the higher education landscape in South Africa, which is typified by a spate of mergers between higher education institutions. Design/methodology/approach: As the purpose of the study was, inter alia, aimed at understanding the merger experiences of academic staff, the study was conducted according to an interpretive research paradigm, where interpretation of data calls for an insider perspective, in order to "see things through their eyes" as it were. In this regard, a qualitative methodology was employed. Findings: Findings indicate that academic staff members at the University of Johannesburg experience two distinct mental states during the pre-merger phase. Following the announcement of the merger, reaction and experience tend to be emotionally driven but as merging efforts become more concrete over time, this emotive state is replaced by a more rationally driven disposition. Implications: The distinction between an emotive and rational demeanour during the pre-merger phase of a merger affords managers and leaders the opportunity to plan change interventions in such a way that irrational, emotive responses and behaviour do not hamper progress in terms of merger implementation. In a more general sense, this study highlights the process of transition individual staff members pass through as they have to come to terms with the changes brought about by a merger. Originality / Value: The majority of merger literature, as well as change literature, focuses on the organisational context of change during a merger. Limited literature exists on the personal effects of a change event such as a

  4. Logics of pre-merger decision-making processes: the case of Karolinska University Hospital.

    Science.gov (United States)

    Choi, Soki; Brommels, Mats

    2009-01-01

    The purpose of this paper is to examine how and why a decision to merge two university hospitals in a public context might occur by using an in-depth case study of the pre-merger process of Karolinska University Hospital. Based on extensive document analysis and 35 key informant interviews the paper reconstructed the pre-merger process, searched for empirical patterns, and interpreted those by applying neo-institutional theory. Spanning nearly a decade, the pre-merger process goes from idea generation through transition to decision, and took place on two arenas, political, and scientific. Both research excellence and economic efficiency are stated merger motives. By applying a neo-institutional perspective, the paper finds that the two initial phases are driven by decision rationality, which is typical for political organizations and that the final phase demonstrated action rationality, which is typical for private firms. Critical factors behind this radical change of decision logic are means convergence, uniting key stakeholder groups, and an economic and political crisis, triggering critical incidents, which ultimately legitimized the formal decision. It is evident from the paper that merger decisions in the public sector might not necessarily result from stated and/or economic drivers only. This paper suggests that a change of decision logic from decision to action rationality might promote effective decision making on large and complex issues in a public context. This is the first systematic in-depth study of a university hospital merger employing a decision-making perspective.

  5. 77 FR 14369 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2012-03-09

    ... Limited. 02/16/2012 20111164 G Apple Inc.; Rockstar Bidco, L.P.; Apple Inc. 20111389 G Microsoft Corporation; Rockstar Bidco, LP; Microsoft Corporation. 20111423 G Research In Motion Limited; Rockstar Bidco... Representative, or Theresa Kingsberry, Legal Assistant, Federal Trade Commission, Premerger Notification Office...

  6. 77 FR 50057 - Premerger Notification; Reporting and Waiting Period Requirements

    Science.gov (United States)

    2012-08-20

    ... determine whether a proposed merger or acquisition may violate the antitrust laws if consummated and, when... transaction may, if consummated, violate the antitrust laws. In addition, Section 7A(d)(2) of the Act, 15 U.S... charge of the Antitrust Division of the Department of Justice (``the Assistant Attorney General...

  7. Maintenance of subjective health during a merger : the role of experienced change and pre-merger social support at work in white- and blue-collar workers

    NARCIS (Netherlands)

    Vaananen, A; Pahkin, K; Kalimo, R; Buunk, BP; Väänänen, A.; Buunk, Abraham (Bram)

    Prospective research on psychosocial effects on employees' health associated with organizational mergers has been scarce. The first aim of this study was to explore the subjective health effects (exhaustion and functional incapacity) of an organizational merger among employees who had experienced a

  8. 75 FR 47810 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2010-08-09

    ...-Scott Rodino Antitrust Improvements Act of 1976, requires persons contemplating certain mergers or... status Party name 30-JUN-10 20100840 G Li & Fung Limited. G Steven Kahn. G The Max Leather Group, Inc. G...

  9. Competition and coordination in the U.S. airline hub-to-hub markets: An industry pre-merger case study

    Directory of Open Access Journals (Sweden)

    Prasun Bhattacharjee

    2016-04-01

    Full Text Available Purpose: This paper investigates the nature of conduct that existed in the U.S. airline hub-to-hub markets prior to the recent merger wave of the legacy carriers. We explore the strategic importance of network carrier hubs in form of “spheres of influence” on airline market conduct. We also simultaneously recognize the overgrowing role played by Low Cost Carriers (LCC over the years by estimating two conduct parameters - one in markets where LCCs directly compete head-to-head with legacy carriers and the other for markets which LCCs do not serve but has presence in the hub airports or adjacent airports comprising the market endpoints. Thus our supply side framework also sheds some light on the issue of perfect contestability in airline industry. Design/methodology/approach: We estimate a structural oligopoly model for differentiated products with competitive interactions using DB1B data for first quarter of 2004. Findings: Our results imply that the nature of competition is more aggressive relative to Bertrand behavior in hub-to-hub markets and that these markets are less than perfectly contestable. Originality/value: This paper adds to the empirical literature of airline competition by enabling estimation of the actual conduct parameter assuming firm price setting behavior in presence of product differentiation. Contrary to existing literature on airline competition, a structural model enables us to systematically separate out effects of demand, cost and strategic factors on observed airline prices.

  10. What Drive the Damage to Post-Merger Operating Performance?

    Directory of Open Access Journals (Sweden)

    Soegiharto Soegiharto

    2010-05-01

    Full Text Available This study examines whether bidders’ post-merger operat-ing performance are affected by their CEO behavior, premiumspaid to the target firms, the period of mergers, the method ofpayment, the industry of merged firms, capital liquidity, andtheir pre-merger operating performance. Testing the U.S. suc-cessful merger and acquisition data for the period of 1990s, thisstudy finds that in-wave mergers, intra-industry mergers, thepayment of lower premiums, and better pre-merger operatingperformance drive the bidders to produce better post-mergeroperating performance. Three measures of CEO behavior—themain predictor scrutinezed in this study—are proposed andexamined, and the results demonstrate that the effects of thesemeasures on post-merger operating performance are mixed,suggesting that each of the behavioral measures designed in thisstudy may capture CEO behavior in different ways. Keywords: capital liquidity; CEO overconfidence; merger waves, method of pay-ment operating performance

  11. Mergers: Success versus failure

    International Nuclear Information System (INIS)

    Carley, G. R.

    1997-01-01

    Successful mergers in the context of long-term value creation, as measured by return realized on investor-provided capital, were discussed. In essence, a successful merger is characterized by being motivated by a sound business reason and strategy for the merger, a reasonable price and sound execution. The acquiror's pre-merger success in managing a company is a good indicator of future success. Poorly managed companies that acquire other companies generally continue to be poorly managed with no significant increase in shareholder value. Prior to the acquisition, identification of the potential target, assessment of the people involved on both sides of the transaction, thorough knowledge of the target's potential for value creation, financial implications (debt, equity, terms and demand, tax implications, the potential effect of the proposed acquisition on the acquiror's business plan) and finally the execution of the process itself, are the important determinants of successful mergers

  12. The Impact of Merger Status and Relative Representation on Identification with a Merger Group

    Directory of Open Access Journals (Sweden)

    Filip Boen

    2005-12-01

    Full Text Available This experiment tested to what extent identification with a new merger group is determined by the status of that merger group and by the relative representation of the pre-merger ingroup. One hundred university students were assigned to a team of 'inductive' thinkers, and were later merged with a team of 'deductive' thinkers to form a team of 'analyst' thinkers. The status of the merger group (low, high and the relative representation of the ingroup into the novel merger group (low, high were manipulated. Participants identified more with the merger group in the high than in the low status condition, and they identified more in the high than in the low representation condition. The predicted interaction between relative representation and merger status was not significant. However, relative representation did interact with participants' pre-merger identification: Pre- and post-merger identification were positively related when the ingroup was highly represented, but 'negatively' when the ingroup was lowly represented.

  13. Anatomy of a Cancer Treatment Scam

    Medline Plus

    Full Text Available ... Enforcement Cases and Proceedings Premerger Notification Program Merger Review Anticompetitive Practices Rules Statutes Consumer Sentinel Network Criminal Liaison Unit Policy Advocacy Advisory Opinions Cooperation Agreements ...

  14. The Efficiency of the Regulation for Horizontal Mergers Among Electricity Distribution Operators in Norway

    DEFF Research Database (Denmark)

    Agrell, Per J.; Bogetoft, Peter; Gammeltvedt, Thor Erik

    2015-01-01

    the attractiveness of mergers. Norway is one country having implemented an ex ante regulation for mergers among electricity distribution operators (DSOs). We investigate whether the actual mergers of Norwegian DSOs in the period 1995-2004 can be rationalized as cost saving exercises or whether they should...... to identify plausible pre-merger motivations. We also discuss the possibility to gain from strategic gaming in the regulation. We compare the regulated revenues and the regulated efficiency improvement requirements before and after the mergers. We find limited potential cost gains ex ante but some improvement...

  15. Which types of hospital mergers save consumers money?

    Science.gov (United States)

    Connor, R A; Feldman, R D; Dowd, B E; Radcliff, T A

    1997-01-01

    This study analyzes the changes in costs and prices from 1986 to 1994 for more than 3,500 U.S. short-term general hospitals, including 122 horizontal mergers. These mergers were generally financially beneficial to consumers, providing average price reductions of approximately 7 percent. Merger-related price reductions were considerably less in market areas with higher market concentration levels. Merger-related price reductions in areas with higher penetration by health maintenance organizations (HMOs) were approximately twice those in areas with lower HMO penetration. Merger-related price reductions were greater for low-occupancy hospitals, nonteaching hospitals, nonsystem hospitals, similar-size hospitals, and hospitals with greater premerger service duplication.

  16. Cost effects of hospital mergers in Portugal.

    Science.gov (United States)

    Azevedo, Helda; Mateus, Céu

    2014-12-01

    The Portuguese hospital sector has been restructured by wide-ranging hospital mergers, following a conviction among policy makers that bigger hospitals lead to lower average costs. Since the effects of mergers have not been systematically evaluated, the purpose of this article is to contribute to this area of knowledge by assessing potential economies of scale to explore and compare these results with realized cost savings after mergers. Considering the period 2003-2009, we estimate the translog cost function to examine economies of scale in the years preceding restructuring. Additionally, we use the difference-in-differences approach to evaluate hospital centres (HC) that occurred between 2004 and 2007, comparing the years after and before mergers. Our findings suggest that economies of scale are present in the pre-merger configuration with an optimum hospital size of around 230 beds. However, the mergers between two or more hospitals led to statistically significant post-merger cost increases, of about 8 %. This result indicates that some HC become too large to explore economies of scale and suggests the difficulty of achieving efficiencies through combining operations and service specialization.

  17. Quality competition and hospital mergers-An experiment.

    Science.gov (United States)

    Han, Johann; Kairies-Schwarz, Nadja; Vomhof, Markus

    2017-12-01

    On the basis of a Salop model with regulated prices, we investigate quality provision behaviour of competing hospitals before and after a merger. For this, we use a controlled laboratory experiment where subjects decided on the level of treatment quality as head of a hospital. We find that the post-merger average quality is significantly lower than the average pre-merger quality. However, for merger insiders and outsiders, average quality choices are significantly higher than predicted for pure profit-maximising hospitals. This upward deviation is potentially driven by altruistic behaviour towards patients. Furthermore, we find that in the case where sufficient cost synergies are realised by the merged hospitals, there is a significant increase in average quality choices compared to the scenario without synergies. Finally, we find that our results do not change when comparing individual decisions to team decisions. Copyright © 2017 John Wiley & Sons, Ltd.

  18. Numerical Relativity Simulations for Black Hole Merger Astrophysics

    Science.gov (United States)

    Baker, John G.

    2010-01-01

    Massive black hole mergers are perhaps the most energetic astronomical events, establishing their importance as gravitational wave sources for LISA, and also possibly leading to observable influences on their local environments. Advances in numerical relativity over the last five years have fueled the development of a rich physical understanding of general relativity's predictions for these events. Z will overview the understanding of these event emerging from numerical simulation studies. These simulations elucidate the pre-merger dynamics of the black hole binaries, the consequent gravitational waveform signatures ' and the resulting state, including its kick velocity, for the final black hole produced by the merger. Scenarios are now being considered for observing each of these aspects of the merger, involving both gravitational-wave and electromagnetic astronomy.

  19. 76 FR 42471 - Premerger Notification; Reporting and Waiting Period Requirements

    Science.gov (United States)

    2011-07-19

    ... reach those Confidential Information Memoranda, as stated in Comment 1, received by ``any employee... of seeking an engagement.'' These materials are sometimes also known informally as ``bankers' books... as valuable to staff. Whether developed by a third party for the purpose of seeking an engagement or...

  20. 78 FR 68705 - Premerger Notification; Reporting and Waiting Period Requirements

    Science.gov (United States)

    2013-11-15

    ... the legislative history of the HSR Act suggest that the Commission may not use its broad rulemaking... information in a timely and useful fashion.\\35\\ \\34\\ 44 U.S.C. 3508: Determination of necessity for...

  1. 78 FR 10574 - Premerger Notification; Reporting and Waiting Period Requirements

    Science.gov (United States)

    2013-02-14

    ... such information and documentary material as may be necessary and appropriate to determine whether the... a request for additional information or documentary material and without an agreement in place with... ``collections of information'' to the Office of Management and Budget (``OMB'') and obtain clearance before...

  2. 78 FR 41293 - Premerger Notification; Reporting and Waiting Period Requirements

    Science.gov (United States)

    2013-07-10

    ... documentary material as may be necessary and appropriate to make that determination. In addition, Section 7A(d... of Management and Budget (``OMB'') and obtain clearance before instituting them. Such collections of... Director [of the Office of Management and Budget] shall determine whether the collection of information by...

  3. 75 FR 57109 - Premerger Notification; Reporting and Waiting Period Requirements

    Science.gov (United States)

    2010-09-17

    ... the Antitrust Division of the Department of Justice (the ``Assistant Attorney General'' or the ``Antitrust Division'') (together the ``Antitrust Agencies'' or ``Agencies'') conduct their initial review of... or acquisition may violate the antitrust laws if consummated and, when appropriate, to seek a...

  4. Decomposition of potential efficiency gains from hospital mergers in Greece.

    Science.gov (United States)

    Flokou, Angeliki; Aletras, Vassilis; Niakas, Dimitris

    2017-12-01

    This paper evaluates the technical efficiency of 71 Greek public hospitals and examines potential efficiency gains from 13 candidate mergers among them. Efficiency assessments are performed using bootstrapped Data Envelopment Analysis (DEA) whilst merger analysis is conducted by applying the Bogetoft and Wang methodology which allows the overall potential merger gains to be decomposed into three main components of inefficiency, namely technical (or learning), scope (or harmony) and scale (or size) effects. Thus, the analysis provides important insights not only on the magnitude of the potential total efficiency gains but also on their sources. The overall analysis is conducted in the context of a complete methodological framework where methods for outlier detection, returns to scale identification, and bias corrections for DEA estimations are also applied. Mergers are analyzed under the assumptions of constant, variable and non-decreasing returns to scale in an input oriented DEA model with three inputs and three outputs. The main finding of the study indicates that almost all mergers show substantial potential room for efficiency improvement, which is mainly attributed to the pre-merger technical inefficiencies of the individual hospitals and therefore it might be possible to be achieved without the need of implementing full-scale mergers. The same -though, at a lower extent- applies to the harmony effect whilst the size effect shows marginal or even negative gains.

  5. Anatomy of a Cancer Treatment Scam

    Medline Plus

    Full Text Available ... buying such products and should not stop or delay their conventional treatment. Category: Scam Watch Health Download ... Proceedings Premerger Notification Program Merger Review Anticompetitive Practices Rules Statutes Consumer Sentinel Network Criminal Liaison Unit Policy ...

  6. Evolution models of helium white dwarf--main-sequence star merger remnants: the mass distribution of single low-mass white dwarfs

    OpenAIRE

    Zhang, Xianfei; Hall, Philip D.; Jeffery, C. Simon; Bi, Shaolan

    2017-01-01

    It is not known how single white dwarfs with masses less than 0.5Msolar -- low-mass white dwarfs -- are formed. One way in which such a white dwarf might be formed is after the merger of a helium-core white dwarf with a main-sequence star that produces a red giant branch star and fails to ignite helium. We use a stellar-evolution code to compute models of the remnants of these mergers and find a relation between the pre-merger masses and the final white dwarf mass. Combining our results with ...

  7. Horizontal mergers and weak and strong competition commissions

    Directory of Open Access Journals (Sweden)

    Ristić Bojan

    2014-01-01

    Full Text Available In this paper we analyse the horizontal merger of companies in an already concentrated industry. The participants in mergers are obliged to submit notification to the Competition Commission but they also have the option of rejecting the merger. At the time of the notification submission the participants do not know whether the Commission is strong or weak, and they can complain to the Court if the Commission prohibits the merger. We model the strategic interaction between Participants and Commission in a dynamic game of incomplete information and determine weak perfect Bayesian equilibria. The main finding of our paper is that Participants will base their decision to submit notification on their belief in a weak Commission decision and will almost completely ignore the possibility of a strong Commission decision. We also provide a detailed examination of one case from Serbian regulatory practice, which coincides with the results of our game theoretical model.

  8. Evolution Models of Helium White Dwarf–Main-sequence Star Merger Remnants

    Energy Technology Data Exchange (ETDEWEB)

    Zhang, Xianfei; Bi, Shaolan [Department of Astronomy, Beijing Normal University, Beijing, 100875 (China); Hall, Philip D.; Jeffery, C. Simon, E-mail: zxf@bnu.edu.cn [Armagh Observatory, College Hill, Armagh BT61 9DG (United Kingdom)

    2017-02-01

    It is predicted that orbital decay by gravitational-wave radiation and tidal interaction will cause some close binary stars to merge within a Hubble time. The merger of a helium-core white dwarf with a main-sequence (MS) star can produce a red giant branch star that has a low-mass hydrogen envelope when helium is ignited and thus become a hot subdwarf. Because detailed calculations have not been made, we compute post-merger models with a stellar evolution code. We find the evolutionary paths available to merger remnants and find the pre-merger conditions that lead to the formation of hot subdwarfs. We find that some such mergers result in the formation of stars with intermediate helium-rich surfaces. These stars later develop helium-poor surfaces owing to diffusion. Combining our results with a model population and comparing to observed stars, we find that some observed intermediate helium-rich hot subdwarfs can be explained as the remnants of the mergers of helium-core white dwarfs with low-mass MS stars.

  9. The impact of hospital mergers on treatment intensity and health outcomes.

    Science.gov (United States)

    Hayford, Tamara B

    2012-06-01

    To analyze the impact of hospital mergers on treatment intensity and health outcomes. Hospital inpatient data from California for 1990 through 2006, encompassing 40 mergers. I used a geographic-based IV approach to determine the effect of a zip code's exposure to a merger. The merged facility's market share represents exposure, instrumented with combined premerge shares. Additional specifications include Herfindahl Index (HHI), instrumented with predicted change in HHI. The primary specification results indicate that merger completion is associated with a 3.7 percent increase in the utilization of bypass surgery and angioplasty and a 1.7 percent increase in inpatient mortality above averages in 2000 for the average zip code. Isolating the competition mechanism mutes the treatment intensity result slightly, but it more than doubles the merger exposure effect on inpatient mortality to a 3.9 percent increase. The competition mechanism is associated with a sizeable increase in number of procedures. Unlike previous studies, this analysis finds that hospital mergers are associated with increased treatment intensity and higher inpatient mortality rates among heart disease patients. Access to additional outcome measures such as 30-day mortality and readmission rates might shed additional light on whether the relationship between these outcomes is causal. © Health Research and Educational Trust.

  10. Evolution Models of Helium White Dwarf–Main-sequence Star Merger Remnants

    International Nuclear Information System (INIS)

    Zhang, Xianfei; Bi, Shaolan; Hall, Philip D.; Jeffery, C. Simon

    2017-01-01

    It is predicted that orbital decay by gravitational-wave radiation and tidal interaction will cause some close binary stars to merge within a Hubble time. The merger of a helium-core white dwarf with a main-sequence (MS) star can produce a red giant branch star that has a low-mass hydrogen envelope when helium is ignited and thus become a hot subdwarf. Because detailed calculations have not been made, we compute post-merger models with a stellar evolution code. We find the evolutionary paths available to merger remnants and find the pre-merger conditions that lead to the formation of hot subdwarfs. We find that some such mergers result in the formation of stars with intermediate helium-rich surfaces. These stars later develop helium-poor surfaces owing to diffusion. Combining our results with a model population and comparing to observed stars, we find that some observed intermediate helium-rich hot subdwarfs can be explained as the remnants of the mergers of helium-core white dwarfs with low-mass MS stars.

  11. Mergers + acquisitions.

    Science.gov (United States)

    Hoppszallern, Suzanna

    2002-05-01

    The hospital sector in 2001 led the health care field in mergers and acquisitions. Most deals involved a network augmenting its presence within a specific region or in a market adjacent to its primary service area. Analysts expect M&A activity to increase in 2002.

  12. Mergers & Acquisitions

    DEFF Research Database (Denmark)

    Fomcenco, Alex

    This dissertation is a legal dogmatic thesis, the goal of which is to describe and analyze the current state of law in Europe in regard to some relevant selected elements related to mergers and acquisitions, and the adviser’s counsel in this regard. Having regard to the topic of the dissertation...... and fiscal neutrality, group-related issues, holding-structure issues, employees, stock exchange listing issues, and corporate nationality....

  13. Galaxy mergers

    International Nuclear Information System (INIS)

    Roos, N.

    1981-01-01

    This thesis contains a series of four papers dealing with the effects of interactions among galaxies during the epoch of cluster formation. Galaxy interactions are investigated and the results incorporated in numerical simulations of the formation of groups and clusters of galaxies. The role of galaxy interactions is analysed in the more general context of simulations of an expanding universe. The evolution of galaxies in rich clusters is discussed. The results of the investigations are presented and their relation to other work done in the field are briefly reviewed and an attempt is made to link galaxy mergers to the occurrence of activity in galactic nuclei. (Auth.)

  14. Observational evidence for mergers

    International Nuclear Information System (INIS)

    Schweizer, F.

    1983-01-01

    Theory has long suggested that dynamical friction between colliding galaxies must lead to mergers. The problem for observers has been to find which galaxies are mergers. The author first reviews the available evidence for mergers in various kinds of galaxies, then proposes a tentative classification scheme for mergers, and finally discusses mergers in giant ellipticals and their relation to the evolution and perhaps even the formation of ellipticals. (Auth.)

  15. Surviving mergers & acquisitions.

    Science.gov (United States)

    Dixon, Diane L

    2002-01-01

    Mergers and acquisitions are never easy to implement. The health care landscape is a minefield of failed mergers and uneasy alliances generating great turmoil and pain. But some mergers have been successful, creating health systems that benefit the communities they serve. Five prominent leaders offer their advice on minimizing the difficulties of M&As.

  16. The spatial extent and distribution of star formation in 3D-HST mergers at z ˜ 1.5

    Science.gov (United States)

    Schmidt, Kasper B.; Rix, Hans-Walter; da Cunha, Elisabete; Brammer, Gabriel B.; Cox, Thomas J.; van Dokkum, Pieter; Förster Schreiber, Natascha M.; Franx, Marijn; Fumagalli, Mattia; Jonsson, Patrik; Lundgren, Britt; Maseda, Michael V.; Momcheva, Ivelina; Nelson, Erica J.; Skelton, Rosalind E.; van der Wel, Arjen; Whitaker, Katherine E.

    2013-06-01

    We present an analysis of the spatial distribution of star formation in a sample of 60 visually identified galaxy merger candidates at z > 1. Our sample, drawn from the 3D-HST survey, is flux limited and was selected to have high star formation rates based on fits of their broad-band, low spatial resolution spectral energy distributions. It includes plausible pre-merger (close pairs) and post-merger (single objects with tidal features) systems, with total stellar masses and star formation rates derived from multiwavelength photometry. Here we use near-infrared slitless spectra from 3D-HST which produce Hα or [O III] emission line maps as proxies for star formation maps. This provides a first comprehensive high-resolution, empirical picture of where star formation occurred in galaxy mergers at the epoch of peak cosmic star formation rate. We find that detectable star formation can occur in one or both galaxy centres, or in tidal tails. The most common case (58 per cent) is that star formation is largely concentrated in a single, compact region, coincident with the centre of (one of) the merger components. No correlations between star formation morphology and redshift, total stellar mass or star formation rate are found. A restricted set of hydrodynamical merger simulations between similarly massive and gas-rich objects implies that star formation should be detectable in both merger components, when the gas fractions of the individual components are the same. This suggests that z ˜ 1.5 mergers typically occur between galaxies whose gas fractions, masses and/or star formation rates are distinctly different from one another.

  17. No Assembly Required: Mergers are Mostly Irrelevant for the Growth of Low-mass Dwarf Galaxies

    Science.gov (United States)

    Fitts, Alex; Boylan-Kolchin, Michael; Bullock, James S.; Weisz, Daniel R.; El-Badry, Kareem; Wheeler, Coral; Faucher-Giguère, Claude-André; Quataert, Eliot; Hopkins, Philip F.; Kereš, Dušan; Wetzel, Andrew; Hayward, Christopher C.

    2018-06-01

    We investigate the merger histories of isolated dwarf galaxies based on a suite of 15 high-resolution cosmological zoom-in simulations, all with masses of Mhalo ≈ 1010 M⊙ (and M⋆ ˜ 105 - 107 M⊙) at z = 0, from the Feedback in Realistic Environments (FIRE) project. The stellar populations of these dwarf galaxies at z = 0 are formed essentially entirely "in situ": over 90% of the stellar mass is formed in the main progenitor in all but two cases, and all 15 of the galaxies have >70% of their stellar mass formed in situ. Virtually all galaxy mergers occur prior to z ˜ 3, meaning that accreted stellar populations are ancient. On average, our simulated dwarfs undergo 5 galaxy mergers in their lifetimes, with typical pre-merger galaxy mass ratios that are less than 1:10. This merger frequency is generally comparable to what has been found in dissipationless simulations when coupled with abundance matching. Two of the simulated dwarfs have a luminous satellite companion at z = 0. These ultra-faint dwarfs lie at or below current detectability thresholds but are intriguing targets for next-generation facilities. The small contribution of accreted stars make it extremely difficult to discern the effects of mergers in the vast majority of dwarfs either photometrically or using resolved-star color-magnitude diagrams (CMDs). The important implication for near-field cosmology is that star formation histories of comparably massive galaxies derived from resolved CMDs should trace the build-up of stellar mass in one main system across cosmic time as opposed to reflecting the contributions of many individual star formation histories of merged dwarfs.

  18. Decoding Galactic Merger Histories

    Directory of Open Access Journals (Sweden)

    Eric F. Bell

    2017-12-01

    Full Text Available Galaxy mergers are expected to influence galaxy properties, yet measurements of individual merger histories are lacking. Models predict that merger histories can be measured using stellar halos and that these halos can be quantified using observations of resolved stars along their minor axis. Such observations reveal that Milky Way-mass galaxies have a wide range of stellar halo properties and show a correlation between their stellar halo masses and metallicities. This correlation agrees with merger-driven models where stellar halos are formed by satellite galaxy disruption. In these models, the largest accreted satellite dominates the stellar halo properties. Consequently, the observed diversity in the stellar halos of Milky Way-mass galaxies implies a large range in the masses of their largest merger partners. In particular, the Milky Way’s low mass halo implies an unusually quiet merger history. We used these measurements to seek predicted correlations between the bulge and central black hole (BH mass and the mass of the largest merger partner. We found no significant correlations: while some galaxies with large bulges and BHs have large stellar halos and thus experienced a major or minor merger, half have small stellar halos and never experienced a significant merger event. These results indicate that bulge and BH growth is not solely driven by merger-related processes.

  19. Mergers and Acquisitions

    OpenAIRE

    Frasch, Manfred; Leptin, Maria

    2000-01-01

    Mergers and acquisitions (M&As) are booming a strategy of choice for organizations attempting to maintain a competitive advantage. Previous research on mergers and acquisitions declares that acquirers do not normally benefit from acquisitions. Targets, on the other hand, have a tendency of gaining positive returns in the few days surrounding merger announcements due to several characteristic on the acquisitions deal. The announcement period wealth effect on acquiring firms, however, is as cle...

  20. Characterizing Black Hole Mergers

    Science.gov (United States)

    Baker, John; Boggs, William Darian; Kelly, Bernard

    2010-01-01

    Binary black hole mergers are a promising source of gravitational waves for interferometric gravitational wave detectors. Recent advances in numerical relativity have revealed the predictions of General Relativity for the strong burst of radiation generated in the final moments of binary coalescence. We explore features in the merger radiation which characterize the final moments of merger and ringdown. Interpreting the waveforms in terms of an rotating implicit radiation source allows a unified phenomenological description of the system from inspiral through ringdown. Common features in the waveforms allow quantitative description of the merger signal which may provide insights for observations large-mass black hole binaries.

  1. Simulations of galaxy mergers

    International Nuclear Information System (INIS)

    Villumsen, J.V.

    1982-01-01

    This work is a theoretical investigation of the mechanisms and results of mergers of elliptical galaxies. An N-body code is developed to simulate the dynamics of centrally concentrated collisionless systems. It is used for N-body simulations of the mergers of galaxies with mass ratios of 1:1, 2:1 and 3:1 with a total of 1200 or 2400 particles. The initial galaxies are spherical and non-rotating with Hubble type profiles and isotropic velocity distributions. The remnants are flattened (up to E4) and are oblate, triaxial or prolate depending on the impact parameter. Equal mass mergers are more flattened than unequal mass mergers and have significant velocity anisotropies. The remnants have Hubble type profiles with decreased central surface brightness and increased core radii and tidal radii. In some unequal mass mergers ''isothermal'' haloes tend to form. The density profiles are inconsistent with De Vaucouleurs profiles even though the initial profiles were not. The central velocity dispersion increases in 1:1 and 2:1 mass mergers but decreases in 3:1 mass mergers. Near head-on mergers lead to prolate systems with little rotation while high angular momentum mergers lead to oblate systems with strong rotation. The rotation curves show solid body rotation out to the half mass radius followed by a slow decline. Radial mixing is strong in equal mass mergers where it will weaken radial gradients. In unequal mass mergers there is little radial mixing but matter from the smaller galaxy ends up in the outer parts of the system where it can give rise to colour gradient

  2. Evolution models of helium white dwarf-main-sequence star merger remnants: the mass distribution of single low-mass white dwarfs

    Science.gov (United States)

    Zhang, Xianfei; Hall, Philip D.; Jeffery, C. Simon; Bi, Shaolan

    2018-02-01

    It is not known how single white dwarfs with masses less than 0.5Msolar -- low-mass white dwarfs -- are formed. One way in which such a white dwarf might be formed is after the merger of a helium-core white dwarf with a main-sequence star that produces a red giant branch star and fails to ignite helium. We use a stellar-evolution code to compute models of the remnants of these mergers and find a relation between the pre-merger masses and the final white dwarf mass. Combining our results with a model population, we predict that the mass distribution of single low-mass white dwarfs formed through this channel spans the range 0.37 to 0.5Msolar and peaks between 0.45 and 0.46Msolar. Helium white dwarf--main-sequence star mergers can also lead to the formation of single helium white dwarfs with masses up to 0.51Msolar. In our model the Galactic formation rate of single low-mass white dwarfs through this channel is about 8.7X10^-3yr^-1. Comparing our models with observations, we find that the majority of single low-mass white dwarfs (<0.5Msolar) are formed from helium white dwarf--main-sequence star mergers, at a rate which is about $2$ per cent of the total white dwarf formation rate.

  3. Mergers at z = 1

    Science.gov (United States)

    Kao, Lancelot L.

    1993-01-01

    Multiband images of nearby interacting pairs of galaxies, mergers, and normal field galaxies are used to simulate images of high redshift mergers by identifying distinctive morphological features. Preliminary results indicate that it is feasible for the HST to detect these high redshift objects.

  4. Mergers and Acquisitions

    DEFF Research Database (Denmark)

    Risberg, Annette

    Introduction to the study of mergers and acquisitions. This book provides an understanding of the mergers and acquisitions process, how and why they occur, and also the broader implications for organizations. It presents issues including motives and planning, partner selection, integration......, employee experiences and communication. Mergers and acquisitions remain one of the most common forms of growth, yet they present considerable challenges for the companies and management involved. The effects on stakeholders, including shareholders, managers and employees, must be considered as well...... by editorial commentaries and reflects the important organizational and behavioural aspects which have often been ignored in the past. By providing this in-depth understanding of the mergers and acquisitions process, the reader understands not only how and why mergers and acquisitions occur, but also...

  5. Predation and Mergers: Is Merger Law Counterproductive?

    OpenAIRE

    Persson, Lars

    1999-01-01

    This Paper shows that predation might help firms overcome the free riding problem of mergers by changing the acquisition situation in the buyer's favour relative to the firms outside the merger. It is also shown that the bidding competition for the prey's assets is most harmful to predators when the use of the prey's assets exerts strong negative externalities on rivals, i.e. when their use severely reduces competitors' profits. The reason is that potential buyers are then willing to pay a hi...

  6. The Spatial Extent and Distribution of Star Formation in 3D-HST Mergers at z is approximately 1.5

    Science.gov (United States)

    Schmidt, Kasper B.; Rix, Hans-Walter; da Cunha, Elisabete; Brammer, Gabriel B.; Cox, Thomas J.; Van Dokkum, Pieter; Foerster Schreiber, Natascha M.; Franx, Marijn; Fumagalli, Mattia; Jonsson, Patrik; hide

    2013-01-01

    We present an analysis of the spatial distribution of star formation in a sample of 60 visually identified galaxy merger candidates at z greater than 1. Our sample, drawn from the 3D-HST survey, is flux-limited and was selected to have high star formation rates based on fits of their broad-band, low spatial resolution spectral energy distributions. It includes plausible pre-merger (close pairs) and post-merger (single objects with tidal features) systems,with total stellar masses and star formation rates derived from multi-wavelength photometry. Here we use near-infrared slitless spectra from 3D-HST which produce H or [OIII] emission line maps as proxies for star-formation maps. This provides a first comprehensive high-resolution, empirical picture of where star formation occurred in galaxy mergers at the epoch of peak cosmic star formation rate. We find that detectable star formation can occur in one or both galaxy centres, or in tidal tails. The most common case (58%) is that star formation is largely concentrated in a single, compact region, coincident with the centre of (one of) the merger components. No correlations between star formation morphology and redshift, total stellar mass, or star formation rate are found. A restricted set of hydrodynamical merger simulationsbetween similarly massive and gas-rich objects implies that star formation should be detectable in both merger components, when the gas fractions of the individual components are the same. This suggests that z is approximately 1.5 mergers typically occur between galaxies whose gas fractions, masses, andor star formation rates are distinctly different from one another.

  7. Hospital mergers: a panacea?

    Science.gov (United States)

    Weil, Thomas

    2010-10-01

    Hospital mergers in Europe and North America have been launched to scale down expenditure, enhance the delivery of health care and elevate quality. However, the outcome of mergers suggest that they neither generated cost savings nor improved the quality of care. Almost all consolidations fall short, since those in leadership positions lack the necessary understanding and appreciation of the differences in culture, values and goals of the existing facilities. In spite of these shortcomings, hospital mergers will continue to be pursued in order to improve market share, eliminate excess capacity, gain access to capital and enhance the personal egos of the organizations' leaders.

  8. MERGER ACCOUTING FOR COMPANIES

    Directory of Open Access Journals (Sweden)

    SUCIU GHEORGHE

    2014-05-01

    Full Text Available Companies, especially nowadays, are characterized through great mobility, fast circulation of capital, occurring in their chase for profit. In this context, companies look for alliances, economical and political assistance. These objectives can materialize through merging of companies. The merger can be internal (between Romanian companies or transboundary, which includes foreign companies. In order to correctly reflect these events, the merger operations must be regulated and must respect national and international regulations. One important request concerning the merger operations is that the accounting values of the assets, debts and ownership equity must be brought to the present financial value.

  9. Power plays - global mergers

    International Nuclear Information System (INIS)

    Allen, Simon

    1997-01-01

    This article focuses on the increasing number of mergers and acquisitions by electric utilities in the face of growing competition in home markets. The liberalisation of the UK and Scandinavian electricity markets, the impact in Europe of the EU directive on liberalisation, mergers in Switzerland, the selling of Australian generators to UK electric utilities, the globalisation of the industry, and the growing trend for deals between gas and electric utilities are discussed. (UK)

  10. MERGER ACCOUTING FOR COMPANIES

    OpenAIRE

    SUCIU GHEORGHE

    2014-01-01

    Companies, especially nowadays, are characterized through great mobility, fast circulation of capital, occurring in their chase for profit. In this context, companies look for alliances, economical and political assistance. These objectives can materialize through merging of companies. The merger can be internal (between Romanian companies) or transboundary, which includes foreign companies. In order to correctly reflect these events, the merger operations must be regulated and mu...

  11. Simulations of galaxy mergers

    International Nuclear Information System (INIS)

    Villumsen, J.V.; Yale Univ., New Haven, CT

    1982-01-01

    A number of N-body simulations of mergers of equal and unequal galaxies are presented. A new code is presented which determines the potential from a mass distribution by a fourth-order expansion in Tesseral harmonics in three dimensions as an approximation to a collisionless system. The total number of particles in the system is 1200. Two galaxies, each a spherical non-rotating system with isothermal or Hubble density profile, are put in orbit around each other where tidal effects and dynamical friction lead to merging. The final system has a Hubble profile, and in some mergers an 'isothermal' halo forms as found in cD galaxies. Equal mass mergers are more flattened than unequal mass mergers. The central surface brightness decreases except in a merger of isothermal galaxies which shows a major redistribution of energy towards a Hubble profile. Mixing is severe in equal mass mergers, where radial gradients are weakened, while in unequal mass encounters gradients can build up due to less mixing and the formation of a halo. Oblate systems with strong rotation form in high angular momentum encounters while prolate systems with little rotation are formed in near head-on collisions. (author)

  12. Anti- versus Pro-Competitive Mergers

    OpenAIRE

    Fridolfsson, Sven-Olof

    2007-01-01

    In a framework where mergers are mutually excluding, I show that firms pursue anti- rather than (alternative) pro-competitive mergers. Potential outsiders to anti-competitive mergers refrain from pursuing pro-competitive mergers if the positive externalities from anti-competitive mergers are strong enough. Potential outsiders to pro-competitive mergers pursue anti-competitive mergers if the negative externalities from the pro-competitive mergers are strong enough. Potential participants in an...

  13. College Mergers: An Emerging Alternative.

    Science.gov (United States)

    Breuder, Robert L.

    1989-01-01

    Examines the merger of Williamsport Area Community College (WACC) and the University of Pennsylvania, necessitated by the city of Williamsport's decision to discontinue its sponsorship of WACC. Considers the principles underlying the merger, legal questions, reactions from within WACC and the surrounding community, and the benefits of the merger.…

  14. Understanding FE Mergers. Research Report

    Science.gov (United States)

    Calvert, Natasha

    2009-01-01

    This report presents research findings and discussion to help develop an understanding of what gives rise to mergers and, when they do happen, what makes them work. The research has focused on merger activity between further education (FE) colleges since incorporation in 1993. Mergers are highly contextual, and part of ensuring success is…

  15. When Worlds Collide: Chandra Observes Titanic Merger

    Science.gov (United States)

    2002-04-01

    lobes will continue to expand into space or fall back into Arp 220 is unknown. The center of Arp 220 is of particular interest. Chandra observations allowed astronomers to pinpoint an X-ray source at the exact location of the nucleus of one of the pre-merger galaxies. Another fainter X-ray source nearby may coincide with the nucleus of the other galaxy remnant. The X-ray power output of these point-like sources is greater than expected for stellar black holes accreting from companion stars. The authors suggest that these sources could be due to supermassive black holes at the centers of the merging galaxies. These two remnant sources are relatively weak, and provide strong evidence to support the theory that the extraordinary luminosity of Arp 220 - about a hundred times that of our Milky Way galaxy - is due to the rapid rate of star formation and not to an active, supermassive black hole in the center. However, in a few hundred million years, this balance of power may change. The two massive black holes could merge to produce a central supermassive black hole. This new arrangement could cause much more gas to fall into the central black hole, creating a power source equal to or greater than that due to star formation. "The unusual concentration of X-ray sources in the very center of Arp 220 suggests that we could be observing the early stages of the creation of a supermassive black hole and the eventual rise to power of an active galactic nucleus," said Jonathan McDowell of the Harvard-Smithsonian Center for Astrophysics, Cambridge, MA, another member of the team studying Arp 220. Clements and McDowell were joined on this research by an international group of researchers from the United States, United Kingdom and Spain. Chandra observed Arp 220 on June 24, 2000, for approximately 56,000 seconds using the Advanced CCD Imaging Spectrometer (ACIS) instrument. ACIS was developed for NASA by Pennsylvania State University, University Park, PA, and the Massachusetts Institute

  16. 77 FR 35387 - Granting of Request for Early Termination of the Waiting Period Under The Premerger Notification...

    Science.gov (United States)

    2012-06-13

    ...; Madison Dearborn Capital Partners VI- A, L.P. 05/10/2012 20120774 G Liberty Media Corporation; Live Nation... America; Corvex Master Fund LP. 20120795 G Tom Benson; NBA Development League Holdings. LLC; Tom Benson...

  17. 75 FR 69666 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2010-11-15

    ... Windy City Investments Holdings, L.L.C. G U.S. Bancorp. G FAF Advisors, Inc. 20101168 G Investor AB. G... Republic Intelligent Transportation Services, Inc. 20101172 G Grupo Nacional de Chocolates S.A. G Charles.... [[Page 69671

  18. 76 FR 49481 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2011-08-10

    ... Holdings, AG. 07/12/2011 20111050 G Alimentation Couche- Tard Inc.; Royal Dutch Shell plc; Alimentation.... Corporation; The Timberland Company; V.F. Corporation. 20111061 G Alimentation Couche- Tard, Inc.; Exxon Mobil Corporation; Alimentation Couche- Tard, Inc. 20111068 G Energy Capital Partners II-A, LP; Public Service...

  19. 75 FR 986 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2010-01-07

    ... of Lake Mary, LLC. G Weschase Anesthesiology Professional Services, Inc. G Tampa Pain Relief Center... Company, LLC. G Southern Power Company. G DeSoto County Generating Company, LLC. 20100117 G Ameriprise...

  20. 75 FR 65632 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2010-10-26

    ... Mountain Coffee Roasters, Inc. G Green Mountain Coffee Roasters, Inc. 20101101 G W. Galen Weston. G Kent P..., Dubilier & Rice Fund VIII, L.P. G Ulysses Participation S.a.r.l. G Univar, Inc. 27-SEP-10 20101076 G World...

  1. 77 FR 48520 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2012-08-14

    ... Berger SE; Westcon Holdings, Inc.; Bilfinger Berger SE. 20121084 G Sony Corporation; GaiKai Inc.; Sony..., 2012 Through July 31, 2012 07/02/2012 20121012 G Pinnacle West Capital Corporation; Edison International; Pinnacle West Capital Corporation. 20121022 G Vector Capital IV International. L.P.; Technicolor...

  2. 75 FR 24953 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2010-05-06

    ... Fund, L.P. G Brinker International, Inc. G Chili's, lnc. G Brinker Restaurant Corporation. G Brinker... Straddle LP. G Targa Midstream Services Ltd. Partnership. G Targa Permian LP. G Targa Gas Marketing LLC. 21...

  3. 75 FR 24948 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2010-05-06

    ... Restaurants, Inc. G CKE Restaurants, Inc. 22-MAR-10 20100429 G Kieppe Patrimonial Ltda. G Sunoco, Inc. G... & Marketing--Tulsa LLC. 20100461 G Nucor Corporation. G NuMit LLC. G NuMit LLC. 20100484 G Bristol-Myers...

  4. 75 FR 11538 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2010-03-11

    ... PepsiCo, Inc. G PepsiAmericas, Inc. G PepsiAmericas, Inc. 20100419 G PepsiCo, Inc. G The Pepsi Bottling Group, Inc. G The Pepsi Bottling Group, Inc. 26-FEB-10 20100420 G S.A.C. Private Equity Investors, L.P...

  5. 75 FR 24951 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2010-05-06

    .... G ATI Holdings, Inc. 20100418 G PepsiCo, Inc. G PepsiAmericas, Inc. G PepsiAmericas, Inc. 20100419 G PepsiCo, Inc. G The Pepsi Bottling Group, Inc. G The Pepsi Bottling Group, Inc. 26-FEB-10 20100420 G S.A...

  6. 77 FR 42730 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2012-07-20

    ... Starbucks Corporation; The Julie Lepinard Alpha Trust; Starbucks Corporation. 20120936 G Monsanto Company... Supply, Inc.; Ray Investment S.a.r.l. 20120876 G PFB Corporation; International Petroleum Investment Company; PFB Corporation. 20120877 G Boyd Gaming Corporation; Peninsula Gaming Partners, LLC; Boyd Gaming...

  7. 76 FR 33758 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2011-06-09

    ... Research Holdings, Inc.; Kendle International Inc.; INC Research Holdings, Inc. 20110885 G Onex Partners... Partners XII, L.P. 20110906 G Mr. Leonard Blavatnik; Warner Music Group Corp.; Mr. Leonard Blavatnik...

  8. 76 FR 41795 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2011-07-15

    ... Holdeo LLC; Green Valley Ranch Gaming, LLC; Station Holdco LLC. 20110912 G Harvest Partners V, L.P.; Blue... Luxembourg Holdings I S.a.r.l. (``KLH I''); Evonik Industries AG; Kinove Luxembourg Holdings I S.a.r.l... Corporation. 20111013 G LyondellBasell Industries, N.V.; B.P. p.l.c.; LyondellBasell Industries, N.V. 20111014...

  9. 76 FR 64348 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2011-10-18

    ....; Blackstone Capital Partners VI, L.P. 20111313 G Boyd Gaming Corporation; Engelstad Family Foundation; Boyd Gaming Corporation. 09/09/2011 20111274 G Armor TPG Holdings LLC; Armstrong World Industries, Inc... Holding Company, Inc.; DaVita Inc. 20110687 G Dawson Geophysical Company; TGC Industries, Inc.; Dawson...

  10. 78 FR 49753 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2013-08-15

    ... KSTW Holdings, Inc.; Steinway Musical Instruments, Inc.; KSTW Holdings, Inc. 20131063 G Quad-C Partners...; Marketing Werks, Inc.; WP Horizon Topco LLC. 07/23/2013 20131051 G Novo Nordisk Foundation; Ophthotech...

  11. 77 FR 61753 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2012-10-11

    .... 20121302 G Arrow Electronics. Inc.; John F. Baker (Micro Electronics, Inc.); Arrow Electronics, Inc. 20121303 G Wind Point Partners L.P.; Mistral Equity Partners, LP; Wind Point Partners VII-A, L.P. 20121307...

  12. 77 FR 74013 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2012-12-12

    ... Robert E. Rich, Jr.; James Farrell and Catherine Farrell; Robert E. Rich, Jr. 20130210 G Starbucks Corporation; Andrew T. Mack; Starbucks Corporation. 20130214 G Westerman Interests, Inc.; Enerven Compression...

  13. 75 FR 76733 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2010-12-09

    ... Platinum Solutions, Inc. 20110099 G Gammon Gold Inc. G Capital Gold Corporation. G Capital Gold Corporation..., L.P. G New Mountain Partners II, L.P. G MailSouth, Inc. Transaction Granted Early Termination 09-NOV...

  14. 75 FR 4561 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2010-01-28

    ... Technologies, Inc. 20100183 G Blackstone Capital Partners V L.P. G Birds Eye Holdings LLC. G Birds Eye Foods.... G Anthony Soave. G Double Eagle Distributing Company. G CITY Beverage-Illinois L.L.C. 20100266 G... Capital Partners IV L.P. Y Macquarie Group Limited. Y Microstar Global Asset Management LLC. Y Microstar...

  15. 76 FR 19993 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2011-04-11

    ... Nomura Holdings, Inc.; BATS Global Markets, Inc.; Nomura Holdings, Inc. 20110645 G Bank of America Corporation; BATS Global Markets, Inc.; Bank of America Corporation 20110648 G China National Chemical... Equity Partners II, L.P.; EPCOR Utilities Inc. 20110677 G Astellas Pharma Inc.; Maxygen, Inc.; Astellas...

  16. 75 FR 32781 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2010-06-09

    ... Holdings, S.A.S. 27-APR-10 20100454 G David Black. G Gannett Co., Inc. G Hawaii Tourism, LLC. G The Courier... Medical, Inc. G Ethicon Endo-Surgery. 20100649 G MDCPVI TU Holdings, LLC. G TransUnion Corp. G TransUnion...

  17. 75 FR 8945 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2010-02-26

    ... Technologies (Shanghi). G Limted MDS Analytical Technolgies GmbH. G MDS Analytical Technologies (Hong Kong.... G Williams Partners L.P. 20100358 G Liberty Media Corporation. G Live Nation, Inc. G Live Nation..., Inc. G David Gelbaum and Monica Chavez Gelbaum. G Standard Renewable Energy, LP. 20100362 G Molina...

  18. 78 FR 17207 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2013-03-20

    ... Equity Partners Liquidating Trust. 20130523 G Parkland Fuel Corporation; AvenEx Energy Corp.; Parkland... Siemens Aktiengesellschaft; Invensys plc; Siemens Aktiengesellschaft. 20130565 G Integrys Energy Group... Reliance Steel & Aluminum Co.; Metals USA Holdings Corp.; Reliance Steel & Aluminum Co. 20130616 G Eastern...

  19. 78 FR 76146 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2013-12-16

    ... Tofane S.A.; Highmark Health; Tofane S.A. 11/14/2013 20140108 G AEA Investors Fund V LP Siemens... voluntary liquidation) Oman Oil Company S.A.O.C. 20140131 G OCP Trust; CH Hold Corp.; OCP Trust. 20140132 G... Investment Fund, L.P. 20140158 G Assa Abloy AB; Amarr Company; Assa Abloy AB. 20140161 G SoftBank Corp.; R...

  20. 78 FR 5179 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2013-01-24

    ... Healthcare Corporation; Lakewood IPA, Inc.; Tenet Healthcare Corporation. 20130401 G Apax VIII-A L.P.; Nike.... Lucas; The Walt Disney Company. 20130208 G Liberty Interactive Corporation; TripAdvisor, Inc.; Liberty... Investment Management Corp. 20130258 G U.S. Bancorp; FSV Payment Systems, Inc.; U.S. Bancorp. 20130260 G...

  1. 76 FR 70452 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2011-11-14

    ... Healthcare Group Limited. 20120055 G G4S plc; FS Invest; G4S plc. 20120062 G Steiner Leisure Limited; Ideal Image Development, Inc.; Steiner Leisure Limited. 20120064 G Vention Medical, Inc.; Christine Bieber...

  2. 75 FR 870 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2010-01-06

    ... status Party name 30-NOV-09 20100139 G German Efromovich. G 5K Holdings Limited. G 5K Holdings Limited... Facility Trust. G Pine Bridge Investments Fund Management Ltd. G Pine Bridge Investments Schweiz GmbH. G... Capital Partners LLC. G Brazos Capital Management, L.P. G New Brazos GP LLC. 20100185 G Telapex, Inc. G...

  3. 77 FR 22318 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2012-04-13

    ... Corporation; SS&C Technologies Holdings, Inc. 20120603 G Kellogg Company; The Procter & Gamble Company; Kellogg Company. 20120608 G DCP Midstream Partners, LP; ConocoPhillips; DCP Midstream Partners, LP...

  4. 75 FR 53699 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2010-09-01

    ... status Party name 26-JUL-10 20100914 G Natural Gas Partners VIII, LP. G The Goldman Sachs Group, Inc. G... Company. G Cedar Power Corporation. G Cogentrix Operating Services Holdings LLC. G Raptor Holdings Company... International, Inc. 20100910 G Galaxy PEF Holding LLC. G Otera US Holding Inc. G CW Financial Services LLC...

  5. 76 FR 2115 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2011-01-12

    ... American Indian Holdings, LLC. G Pride Rock Holding Company, Inc. G First Advantage Philippines, Inc. G... Fairfax Financial Holdings Limited. G AbitibiBowater Inc. G AbitibiBowater Inc. [[Page 2117

  6. 76 FR 2117 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2011-01-12

    ... Liberty Entertainment, Inc. 29-JUN-09........ 20090492........ G Liberty Entertainment, Inc. 02-JUL-09........... 20090517........ C Axsys Technologies, Inc. 07-AUG-09........ 20090517........ G Axsys Technologies, Inc...

  7. 78 FR 21604 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2013-04-11

    ... Electric Company; Advanced Atomization Technologies LLC; General Electric Company. 03/04/2013 20130615 G....; Odyssey Investment Partners Fund IV, L.P. 20130645 G Steve Ballmer; Maloof Sports & Entertainment, LLC... Greenbriar Equity Fund II, L.P.; EDAC Technologies Corporation; Greenbriar Equity Fund II, L.P. 20130706 G...

  8. 76 FR 8739 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2011-02-15

    ... Equity Investors V, L.P. 20110468 G New Generations Trust; Thomas and Dafna Kaplan; New Generations Trust... Corporation; Exxon Mobil Corporation; TSRC Corporation. FOR FURTHER INFORMATION CONTACT: Sandra M. Peay...

  9. 77 FR 69623 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2012-11-20

    ... Corporation. 20121393 G South Mississippi Electric Power Association; Batesville, Generation Holdings, LLC... Pharmaceuticals Corp.; Bruce Kovner. 20130078 G Exxon Mobil Corporation; Denbury Resources Inc.; Exxon Mobil...

  10. 75 FR 82026 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2010-12-29

    ..., LLC. 20110313 G News Corporation. G Wireless Generation, Inc. G Wireless Generation, Inc. 08-DEC-10.... G Exxon Mobil Corporation. G Mobile Eugene Island Pipeline Company. G Exxon Mobil Pipeline Company. G Mobil Oil Exploration & Producing Southeast Inc. 20110256 G Humana Inc. G Welsh, Carson, Anderson...

  11. 76 FR 77534 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2011-12-13

    ...; Mattel, Inc. 20120157 G Longitude Venture Partners, LP; Azur Pharma Public Limited Company; Longitude... Public Company; Cargill, Incorporated; PIT Global Chemical Public Company. 20120205 G ABRY Partners VII....; GCP Fund III Corporation. 11/04/2011 20110804 G Computershare Limited; The Bank of New York Mellon...

  12. 77 FR 27228 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2012-05-09

    ... System, Inc.; University of Rochester. 20120734 G Galaxie Corporation; Prospect Capital Corporation; Galaxie Corporation. 20120735 G Prospect Capital Corporation; Galaxie Corporation; Prospect Capital...

  13. 76 FR 56760 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2011-09-14

    ... Trust; Lochinvar Corporation; Smith Family Voting Trust. 20111190 G WPP plc; Global Market Insite, Inc... Corporation. 20111272 G Hon Hai Precision Ind. Co. Ltd.; Cisco Systems, Inc.; Hon Hai Precision Ind. Co. Ltd...

  14. 76 FR 27320 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2011-05-11

    ... International Business Machines Corporation; The AM3 Irrevocable Trust; International Business Machines..., M.D.; Celgene Corporation; Dr. Patrick Soon-Shiong, M.D. 20110722 G Schneider Electric SA; Weston Presidio V, L.P.; Schneider Electric SA. 20110728 G Charles W. Ergen; Blockbuster Inc.--Debtor-in...

  15. 75 FR 60750 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2010-10-01

    ...-AUG-10 20100676 G UAL Corporation. G Continental Airlines, Inc. G Continental Airlines, Inc. 20100959 G OCM Principal Opportunities Fund IV, L.P. G Advance Food Company Holdings, Inc. G Advance Food Company, Inc. 20101002 G Alfa S.A.B. de C.V. G Timothy T. Day. G Bar-S Foods Co. 20101019 G Pinafore...

  16. 75 FR 41201 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2010-07-15

    ... Providence Equity Partners VI, L.P. G Virtual Radiologic Corporation. G Virtual Radiologic Corporation. 03... Logibec Groupe Informatique Ltee. G Logibec Groupe Informatique Ltee. 20100812 G Primo Water Corporation...

  17. 76 FR 14972 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2011-03-18

    ... William Clay Ford, Jr.; Ford Motor Company; William Clay Ford, Jr. 20110535 G Rock-Tenn Company; Smurfit-Stone Container Corporation; Rock-Tenn Company. 02/07/2011 20110383 G Paychex, Inc.; SurePayroll, Inc... 20110513 G General Electric Company; Gores Capital Partners II, L.P.; General Electric Company. 02/09/2011...

  18. 77 FR 1690 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2012-01-11

    ... Chase & Co.; Wright Medical Group, Inc.; JP Morgan Chase & Co. 12/06/2011 20111253 G Hellman & Friedman Capital Partners VI, L.P.; SunGard Capital Corp.; Hellman & Friedman Capital Partners VI, L.P. 20120164 G... Investors L.P. 20120256 G CareGroup, Inc.; Milton Hospital Foundation, Inc.; CareGroup, Inc. 20120331 G CHS...

  19. 75 FR 38813 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2010-07-06

    ... Holding S.A.S. G Jonathan B. Murray. G Bunim-Murray Productions. G M Theory Entertainment, Inc. G Mobility.... 27-MAY-10 20100641 G Cerberus Institutional Partners, L.P. G DynCorp International Inc. G DynCorp...

  20. 75 FR 77638 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2010-12-13

    .... 20110196 G Barry Diller. G Barry Diller. G IAC/InterActiveCorp. 20110197 G Barry Diller. G Liberty Media... Machine, Inc. d/b/a Living Social G Hungry Machine, Inc. 02-DEC-10 20110212 G Right Choice Credit Union, G.... 20110185 G Excellere Partners. G The SV Partners Limited Partnership. G AxelaCare Health Solutions, LLC...

  1. 78 FR 65315 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2013-10-31

    ....R. Bard, Inc.; Boston Scientific Corporation. 20131136 G Cisco Systems, Inc.; Sourcefire, Inc.; Cisco Systems, Inc. 20131205 G David H. Murdock; Dole Food Company, Inc.; David H. Murdock. 20131211 G..., Inc.; AstraZeneca PLC. 20131271 G Cisco Systems, Inc.; Whiptail Technologies, Inc.; Cisco Systems, Inc...

  2. 78 FR 11187 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2013-02-15

    ...; Gores Capital Partners III, L.P. 20130455 G Charlesbank Equity Find VII, Limited Partnership; Francois... Partners II-B, L.P. 01/04/2013 20130479 G The Medicines Company; Bristol-Myers Squibb Company; The... Company. 20130486 G Trident IV, L.P.; GWC Co- Investment Partners, L.P.; Trident IV, L.P. 20130488 G...

  3. 77 FR 8869 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2012-02-15

    ... Corporation. 20120369 G Tilman J. Fertitta; Morton's Restaurant Group, Inc.; Tilman J. Fertitta. 20120371 G....; Bain Capital Fund X, L.P. 20120386 G Ann Konecny; Dean Operations, Inc.; Ann Konecny. 20120387 G...

  4. 77 FR 56210 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2012-09-12

    ...; Volker Straub; Wells Fargo & Company. 20121180 G Apple Inc.; AuthenTec, Inc.; Apple Inc. 20121204 G..., 2012 Through August 31, 2012 08/01/2012 20120945 G Technip S.A.; The Shaw Group Inc.; Technip S.A... Energy Corporation; DTE Energy Company. 08/03/2012 20121098 G Time Warner Inc.; Bleacher Report, Inc...

  5. 78 FR 57154 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2013-09-17

    ... Corp. 20131099 G Carl C. Icahn; Apple Inc.; Carl C. Icahn. 20131118 G Welsh, Carson, Anderson & Stowe...; Riverstone Global Energy and Power Fund. 20131096 G TPG VI DE AIV II, L.P.; Envision RX Options Holdings Inc.; TPG VI DE AIV II, L.P. 20131102 G ASAC II LP; Activision Blizzard, Inc.; ASAC II LP. 20131119 G Abbott...

  6. 78 FR 41797 - Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification...

    Science.gov (United States)

    2013-07-11

    ....; Virgin Group Holdings Limited; Delta Airlines, Inc. 20130889 G Centre Capital Investors V, L.P.; Overhill....; Vista Equity Partners Fund IV, L.P. 20130906 G The Goldman Sachs Group, Inc.; APT Software Holdings, Inc.; The Goldman Sachs Group, Inc. 20130908 G MABEG/Verein zur Fordurung und Beratung der MAHLE Gruppe e.V...

  7. Mixing processes in galaxy mergers

    International Nuclear Information System (INIS)

    White, S.D.M.

    1980-01-01

    Previously published simulations of mergers between galaxies are used to examine the degree to which population gradients are weakened during the coalescence of two or more stellar systems. Although substantial mixing occurs during a merger, its effect on such gradients is quite moderate and can be overwhelmed by the effect of changes in structure. Experiment suggests that the centre-to-edge population difference in a merger remnant will be 20 per cent smaller than that in its progenitor galaxies if these are identical centrally concentrated systems. A sequence of three binary mergers is thus required to reduce such differences by a factor of 2. Because of changes in radial structure, population gradients are, in general, reduced more rapidly than is suggested by these numbers. Mixing is more efficient in mergers between less concentrated systems. In real merger remnants any weakening of gradients may often be masked by star-formation in residual interstellar gas. (author)

  8. Internationalize Mergers and Acquisitions

    OpenAIRE

    Zhou, Lili

    2017-01-01

    As globalization processes, an increasing number of companies use mergers and acquisitions as a tool to achieve company growth in the international business world. The purpose of this thesis is to investigate the process of an international M&A and analyze the factors leading to success. The research started with reviewing different academic theory. The important aspects in both pre-M&A phase and post-M&A phase have been studied in depth. Because of the complexity in international...

  9. Mergers & Acquisitions and Intangibles

    OpenAIRE

    Ott, Christian

    2012-01-01

    This dissertation explores the disclosure on intangibles acquired in Mergers & Acquisitos. The related empirical analyses are based on a sample of M&As that are accounted for under the International Financial Reporting Standards (IFRS) and United States Generally Accepted Accounting Principles (US-GAAP). In three different research papers I answer three distinct research questions. In order to enable capital providers and other external stakeholders to evaluate the PPA, the International Fina...

  10. Observing Galaxy Mergers in Simulations

    Science.gov (United States)

    Snyder, Gregory

    2018-01-01

    I will describe results on mergers and morphology of distant galaxies. By mock-observing 3D cosmological simulations, we aim to contrast theory with data, design better diagnostics of physical processes, and examine unexpected signatures of galaxy formation. Recently, we conducted mock surveys of the Illustris Simulations to learn how mergers would appear in deep HST and JWST surveys. With this approach, we reconciled merger rates estimated using observed close galaxy pairs with intrinsic merger rates predicted by theory. This implies that the merger-pair observability time is probably shorter in the early universe, and therefore that major mergers are more common than implied by the simplest arguments. Further, we show that disturbance-based diagnostics of late-stage mergers can be improved significantly by combining multi-dimensional image information with simulated merger identifications to train automated classifiers. We then apply these classifiers to real measurements from the CANDELS fields, recovering a merger fraction increasing with redshift in broad agreement with pair fractions and simulations, and with statistical errors smaller by a factor of two than classical morphology estimators. This emphasizes the importance of using robust training sets, including cosmological simulations and multidimensional data, for interpreting observed processes in galaxy evolution.

  11. The Dynamics and Cold Gas Content of Luminous Infrared Galaxy Mergers in the Local Universe

    Science.gov (United States)

    Privon, G. C.

    2014-08-01

    Luminous Infrared Galaxies (LIRGs; 10^11 ≤ L_IR [8 - 1000 μm]/L_sun systems in the local universe, both in terms of their absolute star formation rates—ten to several hundred times that of ``normal'' galaxies—and their star formation rate densities. Many U/LIRGs are interacting or merging disk galaxies undergoing enhanced star formation and/or nuclear activity, likely triggered as the objects transform into massive S0 and elliptical merger remnants. The LIRG population also contains a significant number of apparently isolated disk galaxies which are undergoing enhanced star formation, providing a window on secular galaxy evolution. This work examines nearby U/LIRGs chosen from the Great Observatories All-sky LIRG Survey (GOALS), an infrared flux and luminosity selected sample. The proximity of these systems enables high spatial resolution study of active galactic nuclei (AGN) and extreme star formation in these objects. New maps of the neutral hydrogen (HI) emission are presented for systems morphologically classified in the optical and mid-infrared as non-merging or pre-merger systems. The results of this study suggests that some infrared-selected galaxies may be minor mergers or interactions which are being viewed so soon after first pass that the stellar disk has not yet been significantly disturbed. Galaxy mergers appear to drive much of the enhanced activity observed in U/LIRGs; understanding the merger state of these systems provides a context for observations of star formation and AGN properties. In order to constrain the merger stage, dynamical models for a sample of nine systems were matched to the observed kinematics and morphology as obtained from optical imaging and interferometric HI maps. The resulting models are used not only to constrain the merger stage, but also the encounter geometry of the precursor. Based on these dynamical models a new merger stage classification is presented, which re-scales objects to a common timeline is used to

  12. Competition and Mergers among Nonprofits

    NARCIS (Netherlands)

    Prüfer, J.

    2007-01-01

    Should mergers among nonprofit organizations be regulated differently than mergers among for-profit firms? The relevant empirical literature is highly controversial, the theoretical literature is scarce. We analyze the question by modeling duopoly competition with quality-differentiated goods. We

  13. Competition and Mergers among Nonprofits

    NARCIS (Netherlands)

    Prüfer, J.

    2007-01-01

    Should mergers among nonprofit organizations be regulated differently than mergers among for-profit firms? The relevant empirical literature is highly controversial, the theoretical literature is scarce. I analyze the question by modeling duopoly competition with quality-differentiated goods. I

  14. Welfare standards in hospital mergers.

    Science.gov (United States)

    Katona, Katalin; Canoy, Marcel

    2013-08-01

    There is a broad literature on the consequences of applying different welfare standards in merger control. Total welfare is usually defined as the sum of consumer and provider surplus, i.e., potential external effects are not considered. The general result is then that consumer welfare is a more restrictive standard than total welfare, which is advantageous in certain situations. This relationship between the two standards is not necessarily true when the merger has significant external effects. We model mergers on hospital markets and allow for not-profit-maximizing behavior of providers and mandatory health insurance. Mandatory health insurance detaches the financial and consumption side of health care markets, and the concept consumer in merger control becomes non-evident. Patients not visiting the merging hospitals still are affected by price changes through their insurance premiums. External financial effects emerge on not directly affected consumers. We show that applying a restricted interpretation of consumer (neglecting externality) in health care merger control can reverse the relation between the two standards; consumer welfare standard can be weaker than total welfare. Consequently, applying the wrong standard can lead to both clearing socially undesirable and to blocking socially desirable mergers. The possible negative consequences of applying a simple consumer welfare standard in merger control can be even stronger when hospitals maximize quality and put less weight on financial considerations. We also investigate the implications of these results for the practice of merger control.

  15. Knowledge management in international mergers

    NARCIS (Netherlands)

    Grotenhuis, F.D.J.; Weggeman, M.C.D.P.

    2002-01-01

    This paper discusses the need for knowledge management in mergers and acquisitions. In mergers and acquisitions two cultures are combined, and also two systems of knowledge and insights are integrated. In order to develop and sustain competitive advantages for the knowledge-intensive firm, strategic

  16. Indexing mergers and acquisitions

    OpenAIRE

    Gang, Jianhua; Guo, Jie (Michael); Hu, Nan; Li, Xi

    2017-01-01

    We measure the efficiency of mergers and acquisitions by putting forward an index (the ‘M&A Index’) based on stochastic frontier analysis. The M&A Index is calculated for each takeover deal and is standardized between 0 and 1. An acquisition with a higher index encompasses higher efficiency. We find that takeover bids with higher M&A Indices are more likely to succeed. Moreover, the M&A Index shows a strong and positive relation with the acquirers’ post-acquisition stock perfo...

  17. On universality in ergoregion mergers

    International Nuclear Information System (INIS)

    Elvang, Henriette; Figueras, Pau; Hubeny, Veronika E; Rangamani, Mukund; Horowitz, Gary T

    2009-01-01

    We study non-dynamical mergers of ergoregions in d + 1-dimensional vacuum gravity. At the merger point, where the ergosurfaces bounding each ergoregion just touch, solutions exhibit universal behavior when there is rotation only in one plane: the angle between the merging ergosurfaces depends only on the symmetries of the solution, not on any other details of the configuration. We show that universality follows from the fact that the relevant component of Einstein's equation reduces to Laplace's equation at the point of merger. Thus ergoregion mergers mimic mergers of Newtonian equipotentials and have similar universal behavior. For solutions with rotation in more than one plane, universality is lost. We demonstrate universality and non-universality in several explicit examples.

  18. 7 CFR 3575.89 - Mergers.

    Science.gov (United States)

    2010-01-01

    ... merged borrower. Mergers may be approved when: (1) The merger is in the best interest of the Government.... (b) Distinguishing mergers from transfers and assumptions. Mergers occur when one entity combines with another entity in such a way that the first entity ceases to exist as a separate entity while the...

  19. 7 CFR 1779.89 - Mergers.

    Science.gov (United States)

    2010-01-01

    ... of the merged borrower. Mergers may be approved when: (1) The merger is in the best interest of the... borrower. (b) Distinguishing mergers from transfers and assumptions. Mergers occur when one entity combines with another entity in such a way that the first entity ceases to exist as a separate entity while the...

  20. Endogenous mergers: bidder momentum and market reaction

    NARCIS (Netherlands)

    Kling, G.; Weitzel, G.U.

    2010-01-01

    Recent empirical studies on stock misvaluation as a possible determinant of mergers are inconclusive concerning the central hypothesis that over (under) valuation is negatively (positively) associated with merger announcement returns in stock mergers, but not in cash mergers. We provide empirical

  1. Endogenous mergers: Bidder momentum and market reaction

    NARCIS (Netherlands)

    Kling, G.; Weitzel, U.

    Recent empirical studies on stock misvaluation as a possible determinant of mergers are inconclusive concerning the central hypothesis that over(under)valuation is negatively (positively) associated with merger announcement returns in stock mergers, but not in cash mergers. We provide empirical

  2. Justice Department Airline Merger Policy

    Science.gov (United States)

    Farmer, D. A.

    1972-01-01

    Justice Department airline merger policy is developed within the context of the Federal Aviation Act, in which there is an unusually explicit reliance on competition as a means of fulfilling statutory goals. The economics of the airline industry appear to indicate that low concentration and vigorous competition are particularly viable and desirable. Several factors, including existing regulatory policy, create incentives for airlines to merge whether or not an individual merger promotes or conflicts with the public interest. Specific benefits to the public should be identified and shown to clearly outweight the detriments, including adverse competitive impact, in order for airline mergers to be approved.

  3. Emergency Notification System

    Data.gov (United States)

    US Agency for International Development — The USAID ENS provides quick and effective notification messages during any emergency affecting the Ronald Reagan Building, SA-44, Potomac Yards and USAID Washington...

  4. THE DIRT ON DRY MERGERS

    International Nuclear Information System (INIS)

    Desai, Vandana; Soifer, B. T.; Dey, Arjun; Cohen, Emma; Le Floc'h, Emeric

    2011-01-01

    Using data from the Spitzer Space Telescope, we analyze the mid-infrared (3-70 μm) spectral energy distributions of dry merger candidates in the Booetes field of the NOAO Deep Wide-Field Survey. These candidates were selected by previous authors to be luminous, red, early-type galaxies with morphological evidence of recent tidal interactions. We find that a significant fraction of these candidates exhibit 8 and 24 μm excesses compared to expectations for old stellar populations. We estimate that a quarter of dry merger candidates have mid-infrared-derived star formation rates greater than ∼1 M sun yr -1 . This represents a 'frosting' on top of a large old stellar population, and has been seen in previous studies of elliptical galaxies. Further, the dry merger candidates include a higher fraction of star-forming galaxies relative to a control sample without tidal features. We therefore conclude that the star formation in these massive ellipticals is likely triggered by merger activity. Our data suggest that the mergers responsible for the observed tidal features were not completely dry, and may be minor mergers involving a gas-rich dwarf galaxy.

  5. Trade Union Mergers: A Survey of the Literature.

    Science.gov (United States)

    Michelson, Grant

    2000-01-01

    Examines trade union mergers highlighting merger forms, merger motivation, role played by union officers, and merger waves. Discusses the consequences of mergers on members and union performance and concludes that union merger activity has had little impact. (Contains 74 references.) (JOW)

  6. The Merger Paradox and R&D

    OpenAIRE

    MIYAGIWA, Kaz; WAN, Jiangyun(Yunyun)

    2015-01-01

    The merger paradox is revisited in the presence of cost-reducing R&D in Cournot oligopoly. Two cases are found, in which merger is profitable without satisfying the 80-percent threshold requirement of Salant et al (1983).

  7. University Mergers in Finland: Mediating Global Competition

    Science.gov (United States)

    Välimaa, Jussi; Aittola, Helena; Ursin, Jani

    2014-01-01

    University mergers have become a common strategy for increasing global competitiveness. In this chapter, the authors analyze the implementation of mergers in Finnish universities from the perspective of social justice as conceived within Finland and other Nordic countries.

  8. Mergers, Strategic Investments and Antitrust Policy

    OpenAIRE

    Deneffe, Daniel; Wakker, Peter

    1996-01-01

    textabstractEstablished firms can diversify into new markets in two distinct modes: through internal development or through conglomerate merger. Building on a dynamic three-stage bargaining model with variable threats, this paper shows that a lenient antitrust position toward horizontal mergers can induce established firms that would otherwise not have entered to enter via conglomerate merger. The vigor of antitrust enforcement toward horizontal mergers also affects the conglomerate acquisiti...

  9. The economic impact of merger control legislation

    OpenAIRE

    Carletti, Elena; Hartmann, Philipp; Onega, Steven

    2007-01-01

    We construct a unique dataset of legislative reforms in merger control legislation that occurred in nineteen industrial countries in the period 1987-2004, and investigate the economic impact of these changes on stock prices. In line with the hypothesis that merger control should challenge anticompetitive mergers and thus limit future monopolistic profits, we find that the strengthening of merger control decreases the stock prices of non-financial firms. In contrast, we find that bank stock pr...

  10. DARK MATTER HALO MERGERS: DEPENDENCE ON ENVIRONMENT

    International Nuclear Information System (INIS)

    Hester, J. A.; Tasitsiomi, A.

    2010-01-01

    This paper presents a study of the specific major merger rate as a function of group membership, local environment, and redshift in a very large, 500 h -1 Mpc, cosmological N-body simulation, the Millennium Simulation. The goal is to provide environmental diagnostics of major merger populations in order to test simulations against observations and provide further constraints on major merger driven galaxy evolution scenarios. A halo sample is defined using the maximum circular velocity, which is both well defined for subhalos and closely correlated with galaxy luminosity. Subhalos, including the precursors of major mergers, are severely tidally stripped. Major mergers between subhalos are therefore rare compared to mergers between subhalos and their host halos. Tidal stripping also suppresses dynamical friction, resulting in long major merger timescales when the more massive merger progenitor does not host other subhalos. When other subhalos are present, however, major merger timescales are several times shorter. This enhancement may be due to inelastic unbound collisions between subhalos, which deplete their orbital angular momentum and lead to faster orbital decay. Following these results, we predict that major mergers in group environments are dominated by mergers involving the central galaxy, that the specific major merger rate is suppressed in groups when all group members are considered together, and that the frequency of fainter companions is enhanced for major mergers and their remnants. We also measure an 'assembly bias' in the specific major merger rate in that major mergers of galaxy-like halos are slightly suppressed in overdense environments while major mergers of group-like halos are slightly enhanced. A dynamical explanation for this trend is advanced which calls on both tidal effects and interactions between bound halos beyond the virial radii of locally dynamically dominant halos.

  11. Bundling and mergers in energy markets

    International Nuclear Information System (INIS)

    Granier, Laurent; Podesta, Marion

    2010-01-01

    Does bundling trigger mergers in energy industries? We observe mergers between firms belonging to various energy markets, for instance between gas and electricity providers. These mergers enable firms to bundle. We consider two horizontally differentiated markets. In this framework, we show that bundling strategies in energy markets create incentives to form multi-market firms in order to supply bi-energy packages. Moreover, we find that this type of merger is detrimental to social welfare. (author)

  12. User acceptance of mobile notifications

    CERN Document Server

    Westermann, Tilo

    2017-01-01

    This book presents an alternative approach to studying smartphone-app user notifications. It starts with insights into user acceptance of mobile notifications in order to provide tools to support users in managing these. It extends previous research by investigating factors that influence users’ perception of notifications and proposes tools addressing the shortcomings of current systems. It presents a technical framework and testbed as an approach for evaluating the usage of mobile applications and notifications, and then discusses a series of studies based on this framework that investigate factors influencing users’ perceptions of mobile notifications. Lastly, a set of design guidelines for the usage of mobile notifications is derived that can be employed to support users in handling notifications on smartphones.

  13. Assessment of Innovation Effects of Mergers

    OpenAIRE

    Kern, Benjamin René

    2015-01-01

    Summary of Doctoral Dissertation Assessment of Innovation Effects of Mergers The adequate consideration of innovation effects of mergers in merger review was, and still is, one of the most controversially discussed issues between antitrust scholars. In this connection the question has been raised whether the traditional categories in competition law are sufficiently suitable for dealing with innovation aspects or whether new ...

  14. Nurse Executive Leadership During Organizational Mergers.

    Science.gov (United States)

    Piper, Letty Roth; Schneider, Maureen

    2015-12-01

    The recent growth in hospital mergers and the resultant mergers of nursing service departments (NSDs) have produced a need for chief nursing officers (CNOs) to be aware of implications and anticipated dynamic changes. This article addresses the major issues raised by mergers for NSDs and presents an operational step-by-step checklist for CNOs.

  15. 12 CFR 708b.101 - Mergers generally.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Mergers generally. 708b.101 Section 708b.101 Banks and Banking NATIONAL CREDIT UNION ADMINISTRATION REGULATIONS AFFECTING CREDIT UNIONS MERGERS OF FEDERALLY-INSURED CREDIT UNIONS; VOLUNTARY TERMINATION OR CONVERSION OF INSURED STATUS Mergers § 708b.101...

  16. Is Education Getting Lost in University Mergers?

    Science.gov (United States)

    Ursin, Jani; Aittola, Helena; Henderson, Charles; Valimaa, Jussi

    2010-01-01

    Mergers are common phenomena in higher education institutions. Improving educational quality is typically one of the stated goals of university mergers. Yet, little information exists about how merging institutions approach this goal. This paper presents results from a study of planning documents created prior to four mergers in the Finnish higher…

  17. Accounting for distress in bank mergers

    NARCIS (Netherlands)

    Koetter, M.; Bos, J. W. B.; Heid, F.; Kolari, J. W.; Kool, C. J. M.; Porath, D.

    2007-01-01

    Most bank merger studies do not control for hidden bailouts, which may lead to biased results. In this study we employ a unique data set of approximately 1000 mergers to analyze the determinants of bank mergers. We use undisclosed information on banks' regulatory intervention history to distinguish

  18. Mergers in European Higher Education

    DEFF Research Database (Denmark)

    Rocha, Vera; Teixeira, Pedro N.; Biscaia, Ricardo

    2018-01-01

    In recent years, mergers have been widely used in higher education (HE) to achieve a variety of purposes, ranging from problems of institutional fragmentation to the lack of financial and academic viability, and low institutional efficiency and quality. However, despite a large stream of HE...... literature addressing those issues, there has been little attention to the link between funding-related problems and merger processes. Moreover, there is very little comparative research among different higher education systems experiencing those processes. In this paper, we map and characterize the recent...

  19. Mergers and Acquisitions in India

    OpenAIRE

    Agarwal, Ankita

    2009-01-01

    From the past few decades, Mergers and Acquisitions (M&A) have dominated the environment in which the companies operate. Whenever there is an announcement about a merger, there is an excitement and expectation among the shareholders. This expectation may or may not convert into an abnormal return. It is useful to have some kind of research activity on the performance of M&A, as both bidders and target firms will gain from it. The results have revealed that on average, the returns to the targ...

  20. TSCA Biotechnology Notifications Status

    Science.gov (United States)

    This Notifications Table lists only those submissions received under the Biotechnology Regulation, beginning in 1998. From the Table, you can link to a brief summary of select submission and, in many cases, to a fact sheet on the decision reached by OPPT.

  1. Medical group mergers: strategies for success.

    Science.gov (United States)

    Latham, Will

    2014-01-01

    As consolidation sweeps over the healthcare industry, many medical groups are considering mergers with other groups as an alternative to employment. While mergers are challenging and fraught with risk, an organized approach to the merger process can dramatically increase the odds for success. Merging groups need to consider the benefits they seek from a merger, identify the obstacles that must be overcome to merge, and develop alternatives to overcome those obstacles. This article addresses the benefits to be gained and issues to be addressed, and provides a tested roadmap that has resulted in many successful medical group mergers.

  2. Essays on mergers and acquisitions

    NARCIS (Netherlands)

    Faelten, A.I.

    2016-01-01

    “Essays on Mergers and Acquisitions" tackles some of the most prominent business challenges related to M&A activity. The Introduction examines the reasons why deals fail through well-known case studies; Chapter 1 presents a new index measuring countries M&A maturity worldwide; Chapter 2 focus on the

  3. More Mergers,More Acquisitions

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    China aims to maintain sound development of the national economy through M&As Anew round of corporate mergers and acquisitions (M&As) is on the way. On September 6, the State Council announced that it would require companies in the automobile, iron and steel, cement, machinery manufacturing, electro- lytic aluminum and rare earth industries to accelerate M&As.

  4. More Mergers,More Acquisitions

    Institute of Scientific and Technical Information of China (English)

    LAN XINZHEN

    2010-01-01

    @@ A new round of corporate mergers and acquisitions(M&As)is on the way.On September 6,the State Council announced that it would require companies in the automobile,iron and steel,cement,machinery manufacturing,electrolytic aluminum and rare earth industries to accelerate M&As.

  5. Creating lenticular galaxies with mergers

    NARCIS (Netherlands)

    Querejeta, Miguel; Eliche-Moral, M. Carmen; Tapia, Trinidad; Borlaff, Alejandro; van de Ven, Glenn; Lyubenova, Mariya; Martig, Marie; Falcón-Barroso, Jesús; Méndez-Abreu, Jairo; Zamorano, Jaime; Gallego, Jesús

    Lenticular galaxies (S0s) represent the majority of early-type galaxies in the local Universe, but their formation channels are still poorly understood. While galaxy mergers are obvious pathways to suppress star formation and increase bulge sizes, the marked parallelism between spiral and lenticular

  6. Return on shares of steel companies under the influence of mergers and acquisitions

    Directory of Open Access Journals (Sweden)

    J. Zuzik

    2015-01-01

    Full Text Available The present article intends to asses returns on shares of the steel companies that were formed based on either merger or acquisition. The analysis included 14 operations in the steel industry. Attention was paid to returns of the companies performing acquisitions, as well as to the returns on shares that presented the acquisition target. The analysis was performed based on the “event study” method, and the analysed event was the announcement or notification of realization of an acquisition. Shares of the target steel companies as well as acquirers are attaining higher returns, but the change was not statistical significant.

  7. Automated Status Notification System

    Science.gov (United States)

    2005-01-01

    NASA Lewis Research Center's Automated Status Notification System (ASNS) was born out of need. To prevent "hacker attacks," Lewis' telephone system needed to monitor communications activities 24 hr a day, 7 days a week. With decreasing staff resources, this continuous monitoring had to be automated. By utilizing existing communications hardware, a UNIX workstation, and NAWK (a pattern scanning and processing language), we implemented a continuous monitoring system.

  8. HI Absorption in Merger Remnants

    Science.gov (United States)

    Teng, Stacy H.; Veileux, Sylvain; Baker, Andrew J.

    2012-01-01

    It has been proposed that ultraluminous infrared galaxies (ULIRGs) pass through a luminous starburst phase, followed by a dust-enshrouded AGN phase, and finally evolve into optically bright "naked" quasars once they shed their gas/dust reservoirs through powerful wind events. We present the results of our recent 21- cm HI survey of 21 merger remnants with the Green Bank Telescope. These remnants were selected from the QUEST (Quasar/ULIRG Evolution Study) sample of ULIRGs and PG quasars; our targets are all bolometrically dominated by AGN and sample all phases of the proposed ULIRG -> IR-excess quasar -> optical quasar sequence. We explore whether there is an evolutionary connection between ULIRGs and quasars by looking for the occurrence of HI absorption tracing neutral gas outflows; our results will allow us to identify where along the sequence the majority of a merger's gas reservoir is expelled.

  9. Mergers as an Omega estimator

    International Nuclear Information System (INIS)

    Carlberg, R.G.

    1990-01-01

    The redshift dependence of the fraction of galaxies which are merging or strongly interacting is a steep function of Omega and depends on the ratio of the cutoff velocity for interactions to the pairwise velocity dispersion. For typical galaxies the merger rate is shown to vary as (1 + z)exp m, where m is about 4.51 (Omega)exp 0.42, for Omega near 1 and a CDM-like cosmology. The index m has a relatively weak dependence on the maximum merger velocity, the mass of the galaxy, and the background cosmology, for small variations around a cosmology with a low redshift, z of about 2, of galaxy formation. Estimates of m from optical and IRAS galaxies have found that m is about 3-4, but with very large uncertainties. If quasar evolution follows the evolution of galaxy merging and m for quasars is greater than 4, then Omega is greater than 0.8. 21 refs

  10. Mergers, managerial incentives, and efficiencies

    OpenAIRE

    Jovanovic, Dragan

    2014-01-01

    We analyze the effects of synergies from horizontal mergers in a Cournot oligopoly where principals provide their agents with incentives to cut marginal costs prior to choosing output. We stress that synergies come at a cost which possibly leads to a countervailing incentive effect: The merged firm's principal may be induced to stifle managerial incentives in order to reduce her agency costs. Whenever this incentive effect dominates the well-known direct synergy effect, synergies actually red...

  11. Pre and Post Merger Valuation- A Study of Tata Corus Merger Deal

    OpenAIRE

    Sumeet Gupta

    2009-01-01

    Indian Economy being characterized as Global Economy leading to inorganic growth through Mergers, Acquisitions, Takeovers and Joint Ventures. Mergers would affect the company’s inflow and outflow of various variables like sales, expenses and cash position etc. It becomes imperative to evaluate the pre merger and post merger conditions of the firms so that successful deal can be carried out. The deal would also affect the shareholders wealth. The prediction of future forecasted sales and other...

  12. Disclosure requirements for merger and acquisition transactions

    International Nuclear Information System (INIS)

    Holm, D.I.

    1998-01-01

    The legal disclosure requirements for merger and acquisition transactions involving Canadian public companies are described. The focus is on issues regarding merger and acquisition related disclosure, including the potential consequences of failing to provide proper information, Ontario Securities Commission Policy 9.1 considerations regarding valuation, review, and approval, cross border considerations and financing a merger and acquisition transaction. Legal and practical consequences for failing to provide proper disclosure, including the steps involved in establishing the due diligence defence, are also discussed

  13. National Versus International Mergers and Trade Liberalization

    OpenAIRE

    Yildiz, Halis Murat

    2003-01-01

    This paper uses an endogenous merger formation approach in a concentrated international oligopoly to examine the effects of trade liberalization on the nature of merger incentives (national vs. international). The effects of unilateral trade liberalization on a country’s industry structure are found to be depending on the other country’s trade policy regime. If the other country practices free trade, unilateral liberalization by a country yields international mergers whereas if it practices a...

  14. Mergers and acquisitions: valuation and risk assessment

    International Nuclear Information System (INIS)

    McVeigh, C.A.

    1996-01-01

    An overview of various aspects of mergers and acquisition transactions in the petroleum industry were presented. Incentives to mergers and acquisitions were reviewed and discussed, among them value opportunity, critical size, incremental tax pools, financial distress, shareholder dissatisfaction, strategic infrastructure position, complementary assets, and undeveloped land inventory. Current trends in mergers and acquisitions were highlighted. An industry checklist for risk assessments discussing financial position, engineering forecasts, and taxation was also included

  15. Mass Notification for Higher Education

    Science.gov (United States)

    Schneider, Tod

    2010-01-01

    Mass notification is a high priority in educational institutions. As the number of electronic communication devices has diversified, so has the complexity of designing an effective mass notification system. Picking the right system, with the right features, support services and price, can be daunting. This publication, updated quarterly due to…

  16. LEGAL CONSEQUENCES OF MERGERS AND ACQUISITIONS

    Directory of Open Access Journals (Sweden)

    Amelia-Raluca ONIŞOR

    2016-05-01

    Full Text Available The research analyses the legal effects of mergers and acquisitions from the Romanian Company Law perspective, underlining certain general principles, the procedure of annulment of such a legal transformation of companies and the protection of the employees of companies participating in the merger according to the Law no. 67/2006. These consequences of mergers and acquisions are to be seen in the broader light of the most important purpose of this legal instrument, maximizing financial and organizational efficiencies, thus legal certainty is a desirable goal to be assumed by any merger regulation.

  17. MERGERS AND BULGE FORMATION IN ΛCDM: WHICH MERGERS MATTER?

    International Nuclear Information System (INIS)

    Hopkins, Philip F.; Bundy, Kevin; Wetzel, Andrew; Croton, Darren; Hernquist, Lars; Keres, Dusan; Younger, Joshua D.; Khochfar, Sadegh; Stewart, Kyle

    2010-01-01

    We use a suite of semi-empirical models to predict the galaxy-galaxy merger rate and relative contributions to bulge growth as a function of mass (both halo and stellar), redshift, and mass ratio. The models use empirical constraints on the halo occupation distribution, evolved forward in time, to robustly identify where and when galaxy mergers occur. Together with the results of high-resolution merger simulations, this allows us to quantify the relative contributions of mergers with different properties (e.g., mass ratios, gas fractions, redshifts) to the bulge population. We compare with observational constraints, and find good agreement. We also provide useful fitting functions and make public a code to reproduce the predicted merger rates and contributions to bulge mass growth. We identify several robust conclusions. (1) Major mergers dominate the formation and assembly of ∼L * bulges and the total spheroid mass density, but minor mergers contribute a non-negligible ∼30%. (2) This is mass dependent: bulge formation and assembly is dominated by more minor mergers in lower-mass systems. In higher-mass systems, most bulges originally form in major mergers near ∼L * , but assemble in increasingly minor mergers. (3) The minor/major contribution is also morphology dependent: higher B/T systems preferentially form in more major mergers, with B/T roughly tracing the mass ratio of the largest recent merger; lower B/T systems preferentially form in situ from minor mergers. (4) Low-mass galaxies, being gas-rich, require more mergers to reach the same B/T as high-mass systems. Gas-richness dramatically suppresses the absolute efficiency of bulge formation, but does not strongly influence the relative contribution of major versus minor mergers. (5) Absolute merger rates at fixed mass ratio increase with galaxy mass. (6) Predicted merger rates agree well with those observed in pair and morphology-selected samples, but there is evidence that some morphology

  18. Mergers, Strategic Investments and Antitrust Policy

    NARCIS (Netherlands)

    D. Deneffe (Daniel); P.P. Wakker (Peter)

    1996-01-01

    textabstractEstablished firms can diversify into new markets in two distinct modes: through internal development or through conglomerate merger. Building on a dynamic three-stage bargaining model with variable threats, this paper shows that a lenient antitrust position toward horizontal mergers can

  19. On Mergers in Consumer Search Markets

    NARCIS (Netherlands)

    M.C.W. Janssen (Maarten); J.L. Moraga-Gonzalez (José Luis)

    2007-01-01

    textabstractWe study mergers in a market where N firms sell a homogeneous good and consumers search sequentially to discover prices. The main motivation for such an analysis is that mergers generally affect market prices and thereby, in a search environment, the search behavior of consumers.

  20. Potential gains from hospital mergers in Denmark.

    Science.gov (United States)

    Kristensen, Troels; Bogetoft, Peter; Pedersen, Kjeld Moeller

    2010-12-01

    The Danish hospital sector faces a major rebuilding program to centralize activity in fewer and larger hospitals. We aim to conduct an efficiency analysis of hospitals and to estimate the potential cost savings from the planned hospital mergers. We use Data Envelopment Analysis (DEA) to estimate a cost frontier. Based on this analysis, we calculate an efficiency score for each hospital and estimate the potential gains from the proposed mergers by comparing individual efficiencies with the efficiency of the combined hospitals. Furthermore, we apply a decomposition algorithm to split merger gains into technical efficiency, size (scale) and harmony (mix) gains. The motivation for this decomposition is that some of the apparent merger gains may actually be available with less than a full-scale merger, e.g., by sharing best practices and reallocating certain resources and tasks. Our results suggest that many hospitals are technically inefficient, and the expected "best practice" hospitals are quite efficient. Also, some mergers do not seem to lower costs. This finding indicates that some merged hospitals become too large and therefore experience diseconomies of scale. Other mergers lead to considerable cost reductions; we find potential gains resulting from learning better practices and the exploitation of economies of scope. To ensure robustness, we conduct a sensitivity analysis using two alternative returns-to-scale assumptions and two alternative estimation approaches. We consistently find potential gains from improving the technical efficiency and the exploitation of economies of scope from mergers.

  1. Patient preferences for partner notification.

    Science.gov (United States)

    Apoola, A; Radcliffe, K W; Das, S; Robshaw, V; Gilleran, G; Kumari, B S; Boothby, M; Rajakumar, R

    2006-08-01

    To identify patient preferences for notification of sexual contacts when a sexually transmitted infection (STI) is diagnosed. A questionnaire survey of 2544 patients attending three large genitourinary clinics at Derby, Birmingham, and Coventry in the United Kingdom. The median age of the respondents was 24 with 1474 (57.9%) women, 1835 (72.1%) white, 1826 (71.8%) single. The most favoured method of partner notification was patient referral, which was rated a "good" method by 65.8% when they had to be contacted because a sexual partner has an STI. Notifying contacts by letter as a method of provider partner notification is more acceptable than phoning, text messaging, or email. Respondents with access to mobile telephones, private emails, and private letters were more likely to rate a method of partner notification using that mode of communication as "good" compared to those without. With provider referral methods of partner notification respondents preferred to receive a letter, email, or text message asking them to contact the clinic rather than a letter, email or text message informing them that they may have an STI. Most respondents think that being informed directly by a partner is the best method of being notified of the risk of an STI. Some of the newer methods may not be acceptable to all but a significant minority of respondents prefer these methods of partner notification. The wording of letters, emails, or text messages when used for partner notification has an influence on the acceptability of the method and may influence success of the partner notification method. Services should be flexible enough to utilise the patients' preferred method of partner notification.

  2. Essays on mergers and acquisitions

    OpenAIRE

    Faelten, A.I.

    2016-01-01

    “Essays on Mergers and Acquisitions" tackles some of the most prominent business challenges related to M&A activity. The Introduction examines the reasons why deals fail through well-known case studies; Chapter 1 presents a new index measuring countries M&A maturity worldwide; Chapter 2 focus on the importance of corporate governance when conducting deals in unknown territories; whilst Chapter 3 and 4 conduct research on companies’ decision to tap capital markets and their subsequent M&A acti...

  3. Mergers and integrated care: the Quebec experience.

    Science.gov (United States)

    Demers, Louis

    2013-01-01

    As a researcher, I have studied the efforts to increase the integration of health and social services in Quebec, as well as the mergers in the Quebec healthcare system. These mergers have often been presented as a necessary transition to break down the silos that compartmentalize the services dispensed by various organisations. A review of the studies about mergers and integrated care projects in the Quebec healthcare system, since its inception, show that mergers cannot facilitate integrated care unless they are desired and represent for all of the actors involved an appropriate way to deal with service organisation problems. Otherwise, mergers impede integrated care by creating increased bureaucratisation and standardisation and by triggering conflicts and mistrust among the staff of the merged organisations. It is then preferable to let local actors select the most appropriate organisational integration model for their specific context and offer them resources and incentives to cooperate.

  4. Mergers and integrated care: the Quebec experience

    Directory of Open Access Journals (Sweden)

    Louis Demers

    2013-02-01

    Full Text Available As a researcher, I have studied the efforts to increase the integration of health and social services in Quebec, as well as the mergers in the Quebec healthcare system. These mergers have often been presented as a necessary transition to break down the silos that compartmentalize the services dispensed by various organisations. A review of the studies about mergers and integrated care projects in the Quebec healthcare system, since its inception, show that mergers cannot facilitate integrated care unless they are desired and represent for all of the actors involved an appropriate way to deal with service organisation problems. Otherwise, mergers impede integrated care by creating increased bureaucratisation and standardisation and by triggering conflicts and mistrust among the staff of the merged organisations. It is then preferable to let local actors select the most appropriate organisational integration model for their specific context and offer them resources and incentives to cooperate.

  5. Risks of Mergers and Acquisitions Processes

    Directory of Open Access Journals (Sweden)

    Skitsko Volodymyr I.

    2017-06-01

    Full Text Available Despite structural changes both in the economies of individual countries and in the world at large, the size of the merger/acquisition market is not declining and is tending to grow further. However, uncertainty in the global environment increases the importance of proper analysis, assessment and risk management in merger/acquisition transactions. Using the relevant research and publications by various authors, we have built a general ranking of the significance of merger and acquisition risks according to phases of the indicated process, with comparison of individual risk ratings, based on the publications by authors from Central and Eastern Europe and other countries around the world. The ranking of risks and threats of mergers/acquisitions proposed in this work can be considered one of the most complete for today. Further research needs to focus on the analysis, evaluation, and modeling of merger/acquisition risks, which occupy the top of the ranking, presented by the article.

  6. Impact of bank mergers on shareholders’ wealth

    Directory of Open Access Journals (Sweden)

    Odero Naor Juma

    2013-07-01

    Full Text Available Mergers and acquisitions (M&As perform a vital role in corporate finance in enabling firms achieve varied objectives and financial strategies. This study sought to comprehend the impacts that previous bank mergers have had on the shareholders’ wealth. The study location was in Kenya and it adopted the descriptive survey and correlation design in which the success of mergers was measured based on the objective oriented model using the annual accounts. The study computed the return on assets (ROA, return on equity (ROE and the efficiency ratio (EFF as indicators of shareholder value. The results of the commercial banks were analysed for a five-year period (2006-2010. The study reveals that mergers significantly influence shareholder value with banks that have undertaken mergers creating more value than those that have not. Such banks were ascertained to have posted better results than the overall sector.

  7. THE HALO MERGER RATE IN THE MILLENNIUM SIMULATION AND IMPLICATIONS FOR OBSERVED GALAXY MERGER FRACTIONS

    International Nuclear Information System (INIS)

    Genel, Shy; Genzel, Reinhard; Bouche, Nicolas; Naab, Thorsten; Sternberg, Amiel

    2009-01-01

    We have developed a new method to extract halo merger rates from the Millennium Simulation. First, by removing superfluous mergers that are artifacts of the standard friends-of-friends (FOF) halo identification algorithm, we find a lower merger rate compared to previous work. The reductions are more significant at lower redshifts and lower halo masses, and especially for minor mergers. Our new approach results in a better agreement with predictions from the extended Press-Schechter model. Second, we find that the FOF halo finder overestimates the halo mass by up to 50% for halos that are about to merge, which leads to an additional ∼20% overestimate of the merger rate. Therefore, we define halo masses by including only particles that are gravitationally bound to their FOF groups. We provide new best-fitting parameters for a global formula to account for these improvements. In addition, we extract the merger rate per progenitor halo, as well as per descendant halo. The merger rate per progenitor halo is the quantity that should be related to observed galaxy merger fractions when they are measured via pair counting. At low-mass/redshift, the merger rate increases moderately with mass and steeply with redshift. At high enough mass/redshift (for the rarest halos with masses a few times the 'knee' of the mass function), these trends break down, and the merger rate per progenitor halo decreases with mass and increases only moderately with redshift. Defining the merger rate per progenitor halo also allows us to quantify the rate at which halos are being accreted onto larger halos, in addition to the minor and major merger rates. We provide an analytic formula that converts any given merger rate per descendant halo into a merger rate per progenitor halo. Finally, we perform a direct comparison between observed merger fractions and the fraction of halos in the Millennium Simulation that have undergone a major merger during the recent dynamical friction time, and find a

  8. Galaxy Mergers and Dark Matter Halo Mergers in LCDM: Mass, Redshift, and Mass-Ratio Dependence

    International Nuclear Information System (INIS)

    Stewart, K.

    2009-01-01

    We employ a high-resolution LCDM N-body simulation to present merger rate predictions for dark matter halos and investigate how common merger-related observables for galaxies - such as close pair counts, starburst counts, and the morphologically disturbed fraction - likely scale with luminosity, stellar mass, merger mass ratio, and redshift from z = 0 to z = 4. We provide a simple 'universal' fitting formula that describes our derived merger rates for dark matter halos a function of dark halo mass, merger mass ratio, and redshift, and go on to predict galaxy merger rates using number density-matching to associate halos with galaxies. For example, we find that the instantaneous merger rate of m/M > 0.3 mass ratio events into typical L ∼> fL * galaxies follows the simple relation dN/dt ≅ 0.03(1+f)Gyr -1 (1+z) 2.1 . Despite the rapid increase in merger rate with redshift, only a small fraction of > 0.4L * high-redshift galaxies (∼ 3% at z = 2) should have experienced a major merger (m/M > 0.3) in the very recent past (t 0.3) in the last 700 Myr and conclude that mergers almost certainly play an important role in delivering baryons and influencing the kinematic properties of Lyman Break Galaxies (LBGs)

  9. 7 CFR 1717.152 - Required documentation for all mergers.

    Science.gov (United States)

    2010-01-01

    ... mergers. In order for RUS to advance funds, send bills, and otherwise conduct business with a successor..., borrowers must submit: (1) A transmittal letter on corporate letterhead signed by the manager of each active... evidence the merger pursuant to applicable law. Examples include plan of merger, articles of merger...

  10. 7 CFR 1782.15 - Mergers and consolidations.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 12 2010-01-01 2010-01-01 false Mergers and consolidations. 1782.15 Section 1782.15... AGRICULTURE (CONTINUED) SERVICING OF WATER AND WASTE PROGRAMS § 1782.15 Mergers and consolidations. Mergers... transaction under consideration and the unique facts involved in each transaction. Mergers occur when two or...

  11. An assessment of bank merger success in Germany

    NARCIS (Netherlands)

    Koetter, Michael

    German banks have experienced a merger wave since the early 1990s. However, the success or bank mergers remains a continuous matter or debate. This paper suggests a taxonomy to evaluate post-merger performance on the basis of cost and profit efficiency (CE and PE). I identify successful mergers as

  12. NotifEye

    DEFF Research Database (Denmark)

    Lucero, Andrés; Vetek, Akos

    2014-01-01

    In this paper we explore the use of interactive eyewear in public. We introduce NotifEye, an application that allows a person to receive social network notifications on interactive glasses while walking on a busy street. The prototype uses a minimalistic user interface (UI) for interactive glasses...... to help people focus their attention on their surroundings and supports discreet interaction by using a finger rub pad to take action on incoming notifications. We studied pragmatic and hedonic aspects of the prototype during a pedestrian navigation task in a city center. We found that, despite...... the potential risk of overwhelming people with information, participants were able to keep track of their surroundings as they dealt with incoming notifications. Participants also positively valued the use of a discreet device to provide input for interactive glasses. Finally, participants reflected...

  13. Business Event Notification Service (BENS)

    Data.gov (United States)

    Department of Veterans Affairs — BENS provides a notification of pre-defined business events to applications, portals, and automated business processes. Such events are defined in the Event Catalog,...

  14. Courtesy notification process

    International Nuclear Information System (INIS)

    Steadman, R.

    2002-01-01

    This paper describes the improvements that have been implemented to enhance communications of a large Department of Energy site with state and local agencies. Through an aggressive off-site communications program, and with constant feedback from stakeholders, the site has established a clear line of communication that provides off-site agencies with timely and accurate information regarding its activities. This paper will discuss the implementation of the courtesy notification process, which takes into consideration the potential for media or public interest, and quarterly facility tours and briefing. This paper will include a historical time-line of events and incidents that have resulted in establishing the Off-site Communications Process and the demonstrated success in opening lines of communication with these off-site agencies. (author)

  15. Analysis of International Mergers and Acquisitions in the Pharmaceutical Industry

    Directory of Open Access Journals (Sweden)

    Božo Matić

    2011-07-01

    Full Text Available There are numerous researches which analyze mergers and acquisitions, but most of them do not focus on a certain industry, but their sample considers companies from different industries. This paper focuses on mergers and acquisitions in the pharmaceutical industry. It is assumed that pharmaceutical companies with no experience in mergers and acquisitions achieve better results in relatively small and domestic mergers and acquisitions while pharmaceutical companies with greater experience in mergers and acquisitions are successful even in bigger and international mergers and acquisitions. Bigger mergers and acquisitions and international mergers and acquisitions are more risky for the companies so lack of experience in mergers and acquisitions additionally increases risks during the process of mergers and acquisitions. On average, such increase of the risk results in lower returns for stock owners of pharmaceutical companies.

  16. Mergers and Product Quality: Evidence from the Airline Industry

    OpenAIRE

    Chen, Yongmin; Gayle, Philip

    2013-01-01

    Retrospective studies of horizontal mergers have focused on their price effects, leaving the important question of how mergers affect product quality largely unanswered. This paper empirically investigates this issue for two recent airline mergers: Delta/Northwest and Continental/United. Consistent with the theoretical premise that mergers improve coordination but diminish competitive pressure for quality provision, we find: (i) each merger is associated with a quality increase in markets whe...

  17. ROLE OF INTERNATIONAL MERGERS AND ACQUISITIONS IN CORPORATE INTEGRATION

    OpenAIRE

    Lucia P. BLĂJUȚ

    2015-01-01

    This paper highlights the role of international mergers and acquisitions in corporate integration. The factors that stimulate mergers and acquisitions activities bring real changes in the world economy. Mergers and acquisitions are a form of expansion: mergers can take place either as a statutory merger or consolidation and minority, majority or full acquisitions dominate the international market. It is very important to not confuse the meaning of the two terms. Multinational companies are fo...

  18. Getting cold feet?: Why health care mergers are abandoned.

    Science.gov (United States)

    Roos, Anne-Fleur; Postma, Jeroen

    2016-01-01

    Despite the frequent occurrence and sizeable consequences of merger abandonment in other sectors, there is no thorough understanding of merger abandonment in health care. The purpose of this study is to improve the understanding of determinants of health care merger abandonment. On the basis of the literature on merger abandonment, we formulated a framework on potential determinants of health care merger abandonment. We then constructed a survey that was sent to 70% of all executives of Dutch health care organizations (response rate = 35%, n = 291). We provide descriptive overviews of open, multiple-response, and multiple-choice questions on merger abandonment and use chi-square tests and Fisher's exact tests to test whether abandoned and completed merger processes differ. About 62% of the respondents were involved in at least one merger process during the period of 2005-2012. Thirty-eight percent of these respondents reported that their last merger case ended prematurely (n = 53). The most frequently mentioned determinants of merger abandonment are changing insights on the desirability and feasibility during merger processes, incompatibilities between executives, and insufficient support for the merger from internal stakeholders. We did not find significant relationships between merger abandonment and executives' previous merger experience, degree of organizational diversification, health care sector, size differences, or other organizational differences. Our findings partially confirm results from previous studies, especially with regard to the importance of changing insights and incompatibilities between the involved executives in merger abandonment. We also find that pressure from internal stakeholders, particularly nonexecutive directors, and distrust, fear, and animosity play an important role in merger abandonment. To minimize the organizational and societal costs of abandoned mergers, we advise executives who engage in mergers to construct backup plans with

  19. MERGERS IN ΛCDM: UNCERTAINTIES IN THEORETICAL PREDICTIONS AND INTERPRETATIONS OF THE MERGER RATE

    International Nuclear Information System (INIS)

    Hopkins, Philip F.; Bundy, Kevin; Wetzel, Andrew; Ma, Chung-Pei; Croton, Darren; Khochfar, Sadegh; Hernquist, Lars; Genel, Shy; Van den Bosch, Frank; Somerville, Rachel S.; Keres, Dusan; Stewart, Kyle; Younger, Joshua D.

    2010-01-01

    Different theoretical methodologies lead to order-of-magnitude variations in predicted galaxy-galaxy merger rates. We examine how this arises and quantify the dominant uncertainties. Modeling of dark matter and galaxy inspiral/merger times contribute factor of ∼2 uncertainties. Different estimates of the halo-halo merger rate, the subhalo 'destruction' rate, and the halo merger rate with some dynamical friction time delay for galaxy-galaxy mergers, agree to within this factor of ∼2, provided proper care is taken to define mergers consistently. There are some caveats: if halo/subhalo masses are not appropriately defined the major-merger rate can be dramatically suppressed, and in models with 'orphan' galaxies and under-resolved subhalos the merger timescale can be severely over-estimated. The dominant differences in galaxy-galaxy merger rates between models owe to the treatment of the baryonic physics. Cosmological hydrodynamic simulations without strong feedback and some older semi-analytic models (SAMs), with known discrepancies in mass functions, can be biased by large factors (∼5) in predicted merger rates. However, provided that models yield a reasonable match to the total galaxy mass function, the differences in properties of central galaxies are sufficiently small to alone contribute small (factor of ∼1.5) additional systematics to merger rate predictions. But variations in the baryonic physics of satellite galaxies in models can also have a dramatic effect on merger rates. The well-known problem of satellite 'over-quenching' in most current SAMs-whereby SAM satellite populations are too efficiently stripped of their gas-could lead to order-of-magnitude under-estimates of merger rates for low-mass, gas-rich galaxies. Models in which the masses of satellites are fixed by observations (or SAMs adjusted to resolve this 'over-quenching') tend to predict higher merger rates, but with factor of ∼2 uncertainties stemming from the uncertainty in those

  20. Can this merger be saved?

    Science.gov (United States)

    Cliffe, S

    1999-01-01

    In this fictional case study, a merger that looked like a marriage made in heaven to those at corporate headquarters is feeling like an infernal union to those on the ground. The merger is between Synergon Capital, a U.S. financial-services behemoth, and Beauchamp, Becker & Company, a venerable British financial-services company with strong profits and an extraordinarily loyal client base of wealthy individuals. Beauchamp also boasts a strong group of senior managers led by Julian Mansfield, a highly cultured and beloved patriarch who personifies all that's good about the company. Synergon isn't accustomed to acquiring such companies. It usually encircles a poorly managed turnaround candidate and then, once the deal is done, drops a neutron bomb on it, leaving file cabinets and contracts but no people. Before acquiring Beauchamp, Synergon's macho men offered loud assurances that they would leave the tradition-bound company alone-provided, of course, that Beauchamp met the ambitious target numbers and showed sufficient enthusiasm for cross-selling Synergon's products to its wealthy clients. In charge of making the acquisition work is Nick Cunningham, one of Synergon's more thoughtful executives. Nick, who was against the deal from the start, is the face and voice of Synergon for Julian Mansfield. And Mansfield, in his restrained way, is angry at the constant flow of bureaucratic forms, at the rude demands for instant information, at the peremptory changes. He's even dropping broad hints at retirement. Nick has already been warned: if Mansfield goes, you go. Six commentators advise Nick on how to save his job by bringing peace and prosperity to the feuding couple.

  1. 50 CFR 665.803 - Notifications.

    Science.gov (United States)

    2010-10-01

    ... notification of the trip type (either deep-setting or shallow-setting). (b) The permit holder, or designated... in processing an application, permit holders failing to receive important notifications, or sanctions...

  2. Oil Notifications: Emergency Response Notification System (ERNS) fact sheet

    International Nuclear Information System (INIS)

    1992-04-01

    The Emergency Response Notification System (ERNS) is a national computer database which provides the only centralized mechanism for documenting and verifying incident notification information as initially reported to the National Response Center (NRC), the U.S. Environmental Protection Agency (EPA), and to a limited extent, the U.S. Coast Guard (USCG). The initial notification data may be followed up with updated information from various Federal, State and local response authorities, as appropriate. ERNS contains data that can be used to analyze release notifications, support emergency planning efforts, and assist decision makers in developing spill prevention programs. The fact sheet provides summary information on notifications of releases of oil reported in accordance with the Clean Water Act (CWA). Under Section 311 of the CWA, discharges of oil which: (1) cause a sheen to appear on the surface of the water; (2) violate applicable water quality standards; or (3) cause sludge or emulsion to be deposited beneath the surface of the water or adjoining shoreline, must be reported to the NRC

  3. Getting to Yes on a Merger.

    Science.gov (United States)

    Burkhardt, John

    1994-01-01

    The merger of the University of Detroit and Mercy College (Michigan) is chronicled from early conversations through preparation and decision making. Salient issues that had to be addressed, especially persistent conflicts, and lessons learned from the experience are noted. (MSE)

  4. Mergers and acquisitions: a most strategic decision.

    Science.gov (United States)

    Laine, Mike; Tyler, David

    2007-11-01

    Five steps are basic to successfully concluding (or deciding not to conclude) a merger or acquisition: Identify targets. Begin with the end in mind. Choose a transaction team. Perform due diligence. Commit to the deal--or to no deal.

  5. DATA MINING THE GALAXY ZOO MERGERS

    Data.gov (United States)

    National Aeronautics and Space Administration — DATA MINING THE GALAXY ZOO MERGERS STEVEN BAEHR, ARUN VEDACHALAM, KIRK BORNE, AND DANIEL SPONSELLER Abstract. Collisions between pairs of galaxies usually end in the...

  6. Multiemployer Pension Plan Terminations, Mergers, and Insolvencies

    Data.gov (United States)

    Pension Benefit Guaranty Corporation — A listing of multiemployer pension plan terminations, mergers, and insolvencies reported to the PBGC for the current fiscal year. This data set will be updated...

  7. French bank mergers and acquisitions performance

    Directory of Open Access Journals (Sweden)

    Houda Ben Said

    2017-11-01

    Full Text Available In this paper, we empirically investigate the impact of mergers and acquisitions on French bank performance. Performance is measured by potential gains in efficiency and value creation. We first analyzed efficiency using the data envelopment analysis (DEA under input oriented with variable returns to scale to obtain the efficiency scores. Second, we analyzed the impact on French bank value creation following mergers-acquisitions operations of a set of control variables (model 1 and explicative variables measuring strategic similarities between bidders and targets (model 2. The sample studied is composed of French bank mergers-acquisitions happening between 1996 and 2006 and implying one of the 14 greatest French banking groups. Empirical result showed that mergers and acquisitions have been traduced by an improvement in the overall efficiency by 17.82% and a shareholder value reduction by 5.14%

  8. Models for mergers in higher education

    African Journals Online (AJOL)

    Investing in creativity: Many happy returns. Education Leadership, ... A possible model for higher education mergers, based on such extrapolation, is ..... working styles should be carefully managed from the very beginning of the process.

  9. Timeliness of notification in infectious disease cases.

    OpenAIRE

    Domínguez, A; Coll, J J; Fuentes, M; Salleras, L

    1992-01-01

    Records of notification in cases of eight infectious diseases in the "Servei Territorial de Salut Publica" of the Province of Barcelona, Spain, between 1982 and 1986 were reviewed. Time from onset of symptoms to notification, time from notification to completion of data collection, and time from onset to completion of the case investigation were analyzed. For the period from onset to notification, the shortest mean was registered for meningococcal infection (6.31 days) and the longest was for...

  10. An Experimental Approach to Merger Evaluation

    OpenAIRE

    Christopher T. Conlon; Julie Holland Mortimer

    2013-01-01

    The 2010 Department of Justice and Federal Trade Commission Horizontal Merger Guidelines lay out a new standard for assessing proposed mergers in markets with differentiated products. This new standard is based on a measure of ``upward pricing pressure,'' (UPP) and the calculation of a ``gross upward pricing pressure index'' (GUPPI) in turn relies on a ``diversion ratio,'' which measures the fraction of consumers of one product that switch to another product when the price of the first produc...

  11. Double neutron stars: merger rates revisited

    Science.gov (United States)

    Chruslinska, Martyna; Belczynski, Krzysztof; Klencki, Jakub; Benacquista, Matthew

    2018-03-01

    We revisit double neutron star (DNS) formation in the classical binary evolution scenario in light of the recent Laser Interferometer Gravitational-wave Observatory (LIGO)/Virgo DNS detection (GW170817). The observationally estimated Galactic DNS merger rate of R_MW = 21^{+28}_{-14} Myr-1, based on three Galactic DNS systems, fully supports our standard input physics model with RMW = 24 Myr-1. This estimate for the Galaxy translates in a non-trivial way (due to cosmological evolution of progenitor stars in chemically evolving Universe) into a local (z ≈ 0) DNS merger rate density of Rlocal = 48 Gpc-3 yr-1, which is not consistent with the current LIGO/Virgo DNS merger rate estimate (1540^{+3200}_{-1220} Gpc-3 yr-1). Within our study of the parameter space, we find solutions that allow for DNS merger rates as high as R_local ≈ 600^{+600}_{-300} Gpc-3 yr-1 which are thus consistent with the LIGO/Virgo estimate. However, our corresponding BH-BH merger rates for the models with high DNS merger rates exceed the current LIGO/Virgo estimate of local BH-BH merger rate (12-213 Gpc-3 yr-1). Apart from being particularly sensitive to the common envelope treatment, DNS merger rates are rather robust against variations of several of the key factors probed in our study (e.g. mass transfer, angular momentum loss, and natal kicks). This might suggest that either common envelope development/survival works differently for DNS (˜10-20 M⊙ stars) than for BH-BH (˜40-100 M⊙ stars) progenitors, or high black hole (BH) natal kicks are needed to meet observational constraints for both types of binaries. Our conclusion is based on a limited number of (21) evolutionary models and is valid within this particular DNS and BH-BH isolated binary formation scenario.

  12. 40 CFR 73.53 - Notification.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 16 2010-07-01 2010-07-01 false Notification. 73.53 Section 73.53 Protection of Environment ENVIRONMENTAL PROTECTION AGENCY (CONTINUED) AIR PROGRAMS (CONTINUED) SULFUR DIOXIDE ALLOWANCE SYSTEM Allowance Transfers § 73.53 Notification. (a) Notification of recordation. The...

  13. When Mergers Fail: A Case Study on the Critical Role of External Stakeholders in Merger Initiatives

    Science.gov (United States)

    Stensaker, Bjørn; Persson, Mats; Pinheiro, Rómulo

    2016-01-01

    One can, in principle, identify numerous arguments for mergers in higher education (HE), including efficiency, diversity, quality, and regional needs. This diversity can be explained by the growing societal interest in the sector, not least concerning the contributions from HE to society at large. However, research on merger processes has tended…

  14. Change commitment in low-status merger partners: The role of information processing, relative ingroup prototypicality, and merger patterns.

    Science.gov (United States)

    Rosa, Miriam; Kavanagh, Eithne; Kounov, Pavel; Jarosz, Sywlia; Waldzus, Sven; Collins, Elizabeth C; Giessner, Steffen

    2017-09-01

    Merger announcements cause stress among employees, often leading to low change commitment, especially among employees from the lower-status merger partner. Such stress influences how deeply employees process merger-relevant information. Previous research examined how merger patterns that preserve versus change status differences impact merger support, but did not address how employees' information processing may influence this relationship. The current research addresses this gap through a scenario experiment, focusing on the low-status merger partner. The interplay between merger patterns and information processing was examined regarding employees' prototypicality claims in relation to merger support. Results suggest that an integration-equality merger pattern increases change commitment via prototypicality claims in the new organization, conditional to employees' systematic information processing. © 2017 The British Psychological Society.

  15. Binary neutron star merger simulations

    Energy Technology Data Exchange (ETDEWEB)

    Bruegmann, Bernd [Jena Univ. (Germany)

    2016-11-01

    Our research focuses on the numerical tools necessary to solve Einstein's equations. In recent years we have been particularly interested in spacetimes consisting of two neutron stars in the final stages of their evolution. Because of the emission of gravitational radiation, the objects are driven together to merge; the emitted gravitational wave signal is visualized. This emitted gravitational radiation carries energy and momentum away from the system and contains information about the system. Late last year the Laser Interferometer Gravitational-wave Observatory (LIGO) began searches for these gravitational wave signals at a sensitivity at which detections are expected. Although such systems can radiate a significant amount of their total mass-energy in gravitational waves, the gravitational wave signals one expects to receive on Earth are not strong, since sources of gravitational waves are often many millions of light years away. Therefore one needs accurate templates for the radiation one expects from such systems in order to be able to extract them out of the detector's noise. Although analytical models exist for compact binary systems when the constituents are well separated, we need numerical simulation to investigate the last orbits before merger to obtain accurate templates and validate analytical approximations. Due to the strong nonlinearity of the equations and the large separation of length scales, these simulations are computationally demanding and need to be run on large supercomputers. When matter is present the computational cost as compared to pure black hole (vacuum) simulations increases even more due to the additional matter fields. But also more interesting astrophysical phenomena can happen. In fact, there is the possibility for a strong electromagnetic signal from the merger (e.g., a short gamma-ray burst or lower-energy electromagnetic signatures from the ejecta) and significant neutrino emission. Additionally, we can expect that

  16. Chandra Observations of Galaxy Zoo Mergers: Frequency of Binary Active Nuclei in Massive Mergers

    Science.gov (United States)

    Teng, Stacy H.; Schawinski, Kevin; Urry, C. Megan; Darg, Dan W.; Kaviraj, Sugata; Oh, Kyuseok; Bonning, Erin W.; Cardamone, Carolin N.; Keel, William C.; Lintott, Chris J.; hide

    2012-01-01

    We present the results from a Chandra pilot study of 12 massive galaxy mergers selected from Galaxy Zoo. The sample includes major mergers down to a host galaxy mass of 1011 M that already have optical AGN signatures in at least one of the progenitors. We find that the coincidences of optically selected active nuclei with mildly obscured (N(sub H) approx merger is found to have confirmed binary X-ray nuclei, though the X-ray emission from its southern nucleus could be due solely to star formation. Thus, the occurrences of binary AGN in these mergers are rare (0-8%), unless most merger-induced active nuclei are very heavily obscured or Compton thick.

  17. Risk Management in Mergers and Acquisitions

    Directory of Open Access Journals (Sweden)

    Dmitry O. Verdiev

    2015-01-01

    Full Text Available M&A statistics show that less than a third of newly merged companies has realized their planned synergistic effects and increased shareholder value. According to the author, such disgusting situation is due to improper planning and failure of corporate management to understand the importance of risk management in M&A. Lack of practice in identification, evaluation, mitigation and regular monitoring of risks leads to the situation when many companies merge despite the fact that the merger bears substantial risks. Corporate management fails to include risk mitigation expenses in merger costs. In many cases, risk mitigation expenses may be so substantive that the merger loses its attractiveness. Only few companies implement risk management methodology while planning M&A activity. This methodology may anticipate and minimize the consequences of various risk factors that negatively influence integration process. The article suggests an implementation of risk management best practice. This risk management best practice may act as an effective tool of successful realization of synergistic effects in M&A and may be helpful in increasing shareholder value in post-merger period. Risk management is conducted throughout the stages of merger and includes identification, analysis, assessment, management and monitoring of risks. Implementation of risk management at early stages of merger planning significantly decreases uncertainty in relation to achievement of financial and operational goals of newly merged company. The article provides with typical M&A risk matrix that may be adapted for specific M&A project. Risk matrix includes a register of risks sorted by stages of M&A deal, quality assessment of their probability, influence and impact on merger as well as risk mitigation methods.

  18. Radioactively powered emission from black hole-neutron star mergers

    International Nuclear Information System (INIS)

    Tanaka, Masaomi; Wanajo, Shinya; Hotokezaka, Kenta; Kyutoku, Koutarou; Kiuchi, Kenta; Sekiguchi, Yuichiro; Shibata, Masaru

    2014-01-01

    Detection of the electromagnetic counterparts of gravitational wave (GW) sources is important to unveil the nature of compact binary coalescences. We perform three-dimensional, time-dependent, multi-frequency radiative transfer simulations for radioactively powered emission from the ejecta of black hole (BH)-neutron star (NS) mergers. Depending on the BH to NS mass ratio, spin of the BH, and equations of state of dense matter, BH-NS mergers can eject more material than NS-NS mergers. In such cases, radioactively powered emission from the BH-NS merger ejecta can be more luminous than that from NS-NS mergers. We show that, in spite of the expected larger distances to BH-NS merger events, the observed brightness of BH-NS mergers can be comparable to or even higher than that of NS-NS mergers. We find that, when the tidally disrupted BH-NS merger ejecta are confined to a small solid angle, the emission from BH-NS merger ejecta tends to be bluer than that from NS-NS merger ejecta for a given total luminosity. Thanks to this property, we might be able to distinguish BH-NS merger events from NS-NS merger events by multi-band observations of the radioactively powered emission. In addition to the GW observations, such electromagnetic observations can potentially provide independent information on the progenitors of GW sources and the nature of compact binary coalescences.

  19. Can mergers make slowly rotating elliptical galaxies

    International Nuclear Information System (INIS)

    White, S.D.M.

    1979-01-01

    The results of numerical experiments are used to guide an analytic discussion of hyperbolic mergers among an uncorrelated galaxy population. The expected merger rate is derived as a function of progenitor mass and relative angular momentum, and is used to predict the distribution of the parameter V/sub c//sigma 0 for merger products where V/sub c/ is the maximum observed rotation velocity in a galaxy and sigma 0 is its central velocity dispersion. The median value of this parameter for mergers between comparable galaxies is estimated to be 0.65 and is higher than the observed value in any of the 14 galaxies for which data are available. It seems unlikely that most elliptical galaxies are the result of single or multiple mergers between initially unbound stellar systems; further observational and theoretical work is suggested which should lead to a conclusive test of this picture. The present arguments cannot, however, exclude formation from low angular momentum elliptical orbits

  20. [Effects of hospital mergers on health economy].

    Science.gov (United States)

    Ingebrigtsen, Tor

    2010-05-06

    Norwegian hospitals have been characterised by increasing activity, expansion of services and increasing costs for a long time. Differences in quality and accessibility have been documented between hospitals in various geographic locations. Transferral of hospital ownership to the state (from 2002) aimed at increasing capacities and improving quality of services, but also at restricting the increase of costs. These goals have only been partly met. The structure of hospital trusts and organisation of services are therefore continuously debated. This literature review aims at examining whether hospital mergers can reduce costs and at the same time increase the quality of services offered. Literature was identified through a Medline search using the terms "hospital", "merger" and "cost saving". The results are summarized and discussed. Seven original studies of totally 476 hospital mergers (in the USA, Great Britain and Norway) were identified in the period 1982 - 2000. The literature indicates that hospital mergers have a potential to reduce costs by about 10 % if the process achieves complete fusion of previously independent organisations, with a more optimal dimensioning of services and development of a common organizational culture. Collaboration between top management and the professional bureaucracy are prerequisites for success. Mergers are associated with a significant risk of unexpected problems and temporary reduced quality of the services.

  1. PERLINDUNGAN HUKUM TERHADAP KEPENTINGAN PARA PIHAK DI DALAM MERGER BANK

    Directory of Open Access Journals (Sweden)

    Dani Amran Hakim

    2016-04-01

    Full Text Available The legal protection of interests of the parties in the merger of banks, which is formulated into the problem as follows a Is the legal basis for bank mergers? b How is the legal protection of the parties in a bank merger? Merger is one of the company's development and growth. Merger is also one other alternative for capital investment through internal and organic growth. In banking mergers regulated in Law Number 10 of 1998. In the implementation of the merger must also consider the interests of the parties, namely, 1 the interests of the shareholders, 2 the interests of the depositors, 3 the interest of the bank employees, and 4 the interests of officials. Keywords: Protection Law, the Parties, Bank Merger 

  2. Merger 1980: The Organizational Integration of College Mental Health Services.

    Science.gov (United States)

    Foster, Thomas V., Jr.

    1982-01-01

    The merger of a traditional counseling center with a traditional comprehensive student health center at Indiana University, Bloomington is described. Important variables, costs and benefits, suggestions for similar mergers, and the outcome of the Indiana University program are discussed. (CJ)

  3. The problems of assessing the value of mergers and acquisitions

    Directory of Open Access Journals (Sweden)

    Borovikov A.D.

    2017-04-01

    Full Text Available the article discusses some questions concerning mergers and acquisitions of companies. The essential foundation of any mergers and acquisitions is always the competitive environment, more precisely, its constant changes.

  4. 29 CFR 4231.7 - De minimis mergers and transfers.

    Science.gov (United States)

    2010-07-01

    ... actuarial valuation. (b) De minimis merger defined. A merger is de minimis if the present value of accrued... market value of all the assets of the transferor plan; (2) The present value of the accrued benefits... value of the plan's assets is the highest. (1) A merger is not de minimis if the total present value of...

  5. Rethinking and re-imagining mergers in further and higher ...

    African Journals Online (AJOL)

    Higher and Further Education in South Africa has been characterized by major changes regarding the shape and size of the system. One of these changes has been the so-called mergers. This article addresses the scenario which contributed to the mergers. An overview of various frameworks or models for mergers is ...

  6. 29 CFR 4231.3 - Requirements for mergers and transfers.

    Science.gov (United States)

    2010-07-01

    ... 29 Labor 9 2010-07-01 2010-07-01 false Requirements for mergers and transfers. 4231.3 Section 4231..., REORGANIZATION, TERMINATION, AND OTHER RULES APPLICABLE TO MULTIEMPLOYER PLANS MERGERS AND TRANSFERS BETWEEN MULTIEMPLOYER PLANS § 4231.3 Requirements for mergers and transfers. (a) General requirements. A plan sponsor...

  7. 29 CFR 4011.6 - Mergers, consolidations, and spinoffs.

    Science.gov (United States)

    2010-07-01

    ... 29 Labor 9 2010-07-01 2010-07-01 false Mergers, consolidations, and spinoffs. 4011.6 Section 4011... REPORTING AND DISCLOSURE REQUIREMENTS DISCLOSURE TO PARTICIPANTS § 4011.6 Mergers, consolidations, and spinoffs. In the case of a plan involved in a merger, consolidation, or spinoff transaction that becomes...

  8. 7 CFR 1717.615 - Consolidations and mergers.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Consolidations and mergers. 1717.615 Section 1717.615... Controls § 1717.615 Consolidations and mergers. A distribution or power supply borrower may without the..., merger, conveyance or transfer shall be on such terms as shall fully preserve the lien and security of...

  9. 7 CFR 1735.62 - Approval of acquisitions and mergers.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Approval of acquisitions and mergers. 1735.62 Section 1735.62 Agriculture Regulations of the Department of Agriculture (Continued) RURAL UTILITIES SERVICE... Mortgage Controls on Acquisitions and Mergers § 1735.62 Approval of acquisitions and mergers. (a) If a...

  10. 7 CFR 1710.108 - Mergers and consolidations.

    Science.gov (United States)

    2010-01-01

    ... operating efficiency and financial soundness. (b) After a merger or consolidation, RUS will give priority... 7 Agriculture 11 2010-01-01 2010-01-01 false Mergers and consolidations. 1710.108 Section 1710.108... and Basic Policies § 1710.108 Mergers and consolidations. (a) RUS encourages its borrowers to consider...

  11. The Fate of Neutron Star Binary Mergers

    Energy Technology Data Exchange (ETDEWEB)

    Piro, Anthony L. [The Observatories of the Carnegie Institution for Science, 813 Santa Barbara Street, Pasadena, CA 91101 (United States); Giacomazzo, Bruno [Physics Department, University of Trento, via Sommarive 14, I-38123 Trento (Italy); Perna, Rosalba, E-mail: piro@carnegiescience.edu [Department of Physics and Astronomy, Stony Brook University, Stony Brook, NY 11794 (United States)

    2017-08-01

    Following merger, a neutron star (NS) binary can produce roughly one of three different outcomes: (1) a stable NS, (2) a black hole (BH), or (3) a supramassive, rotationally supported NS, which then collapses to a BH following angular momentum losses. Which of these fates occur and in what proportion has important implications for the electromagnetic transient associated with the mergers and the expected gravitational wave (GW) signatures, which in turn depend on the high density equation of state (EOS). Here we combine relativistic calculations of NS masses using realistic EOSs with Monte Carlo population synthesis based on the mass distribution of NS binaries in our Galaxy to predict the distribution of fates expected. For many EOSs, a significant fraction of the remnants are NSs or supramassive NSs. This lends support to scenarios in which a quickly spinning, highly magnetized NS may be powering an electromagnetic transient. This also indicates that it will be important for future GW observatories to focus on high frequencies to study the post-merger GW emission. Even in cases where individual GW events are too low in signal to noise to study the post merger signature in detail, the statistics of how many mergers produce NSs versus BHs can be compared with our work to constrain the EOS. To match short gamma-ray-burst (SGRB) X-ray afterglow statistics, we find that the stiffest EOSs are ruled out. Furthermore, many popular EOSs require a significant fraction of ∼60%–70% of SGRBs to be from NS–BH mergers rather than just binary NSs.

  12. Railroad mergers and acquisitions take shape

    Energy Technology Data Exchange (ETDEWEB)

    Fiscor, S.

    1995-12-01

    This year has been one of the most exciting years in recent history concerning US railroads and coal transportation, as mergers and acquisitions narrow the field for Western coal carriers. The views on the mergers and how they will affect coal transportation are mixed. The coal industry`s growth in the West and its stability in the East is the basis for the most recent changes in the rail industry. Restructuring US coal markets to confirm to environmental policy has had a profound effect on much more than the coal industry itself. Deregulation of rail transport has also been an important factor. 1 fig., 3 tabs.

  13. The determinants of merger waves: An international perspective

    Science.gov (United States)

    Gugler, Klaus; Mueller, Dennis C.; Weichselbaumer, Michael

    2012-01-01

    One of the most conspicuous features of mergers is that they come in waves that are correlated with increases in share prices and price/earnings ratios. We use a natural way to discriminate between pure stock market influences on firm decisions and other influences by examining merger patterns for both listed and unlisted firms. If “real” changes in the economy drive merger waves, as some neoclassical theories of mergers predict, both listed and unlisted firms should experience waves. We find significant differences between listed and unlisted firms as predicted by behavioral theories of merger waves. PMID:27346903

  14. Mergers and acquisitions in the oil and gas industries

    International Nuclear Information System (INIS)

    Corlay, C.; Huby, D.

    1999-01-01

    This paper focuses on mergers and acquisitions in the oil and gas industries, and lists the most important mergers in terms of transaction value for the period 1981-1997, and plots oil and gas mergers and acquisitions activity by sector and by major region. The mean operation indicator in 1998 in terms of reserves, production and refining capacity of the major companies are tabulated. The impact of the mergers on the oil and gas markets are examined, and issues concerning these mergers and acquisitions are explored. (UK)

  15. Mergers and acquisitions in the oil and gas industries

    Energy Technology Data Exchange (ETDEWEB)

    Corlay, C.; Huby, D. [Institut Francais du Petrole, Rueil-Malmaison (France)

    1999-07-01

    This paper focuses on mergers and acquisitions in the oil and gas industries, and lists the most important mergers in terms of transaction value for the period 1981-1997, and plots oil and gas mergers and acquisitions activity by sector and by major region. The mean operation indicator in 1998 in terms of reserves, production and refining capacity of the major companies are tabulated. The impact of the mergers on the oil and gas markets are examined, and issues concerning these mergers and acquisitions are explored. (UK)

  16. Convergence properties of halo merger trees; halo and substructure merger rates across cosmic history

    Science.gov (United States)

    Poole, Gregory B.; Mutch, Simon J.; Croton, Darren J.; Wyithe, Stuart

    2017-12-01

    We introduce GBPTREES: an algorithm for constructing merger trees from cosmological simulations, designed to identify and correct for pathological cases introduced by errors or ambiguities in the halo finding process. GBPTREES is built upon a halo matching method utilizing pseudo-radial moments constructed from radially sorted particle ID lists (no other information is required) and a scheme for classifying merger tree pathologies from networks of matches made to-and-from haloes across snapshots ranging forward-and-backward in time. Focusing on SUBFIND catalogues for this work, a sweep of parameters influencing our merger tree construction yields the optimal snapshot cadence and scanning range required for converged results. Pathologies proliferate when snapshots are spaced by ≲0.128 dynamical times; conveniently similar to that needed for convergence of semi-analytical modelling, as established by Benson et al. Total merger counts are converged at the level of ∼5 per cent for friends-of-friends (FoF) haloes of size np ≳ 75 across a factor of 512 in mass resolution, but substructure rates converge more slowly with mass resolution, reaching convergence of ∼10 per cent for np ≳ 100 and particle mass mp ≲ 109 M⊙. We present analytic fits to FoF and substructure merger rates across nearly all observed galactic history (z ≤ 8.5). While we find good agreement with the results presented by Fakhouri et al. for FoF haloes, a slightly flatter dependence on merger ratio and increased major merger rates are found, reducing previously reported discrepancies with extended Press-Schechter estimates. When appropriately defined, substructure merger rates show a similar mass ratio dependence as FoF rates, but with stronger mass and redshift dependencies for their normalization.

  17. DRY MERGER RATE AND POST-MERGER FRACTION IN THE COMA CLUSTER CORE

    Energy Technology Data Exchange (ETDEWEB)

    Cordero, Juan P.; Campusano, Luis E.; Haines, Christopher P. [Departamento de Astronomía, Universidad de Chile, Casilla 36-D, Santiago (Chile); De Propris, Roberto [Finnish Centre for Astronomy with ESO, University of Turku, Vaisalantie 20, Piikkio, FI-21500 (Finland); Weinzirl, Tim [School of Physics and Astronomy, The University of Nottingham, University Park, Nottingham NG7 2RD (United Kingdom); Jogee, Shardha, E-mail: jcordero@das.uchile.cl [Department of Astronomy, The University of Texas at Austin, Austin, TX 78712-1205 (United States)

    2016-01-20

    We evaluate the dry merger activity in the Coma cluster, using a spectroscopically complete sample of 70 red-sequence (RS) galaxies, most of which (∼75%) are located within 0.2R{sub 200} (∼0.5 Mpc) from the cluster center, with data from the Coma Treasury Survey obtained with the Hubble Space Telescope. The fraction of close galaxy pairs in the sample is the proxy employed for the estimation of the merger activity. We identify 5 pairs and 1 triplet, enclosing a total of 13 galaxies, based on limits on projected separation and line-of-sight velocity difference. Of these systems, none show signs of ongoing interaction, and therefore we do not find any true mergers in our sample. This negative result sets a 1σ upper limit of 1.5% per Gyr for the major dry merger rate, consistent with the low rates expected in present-day clusters. Detailed examination of the images of all the RS galaxies in the sample reveals only one with low surface brightness features identifiable as the remnant of a past merger or interaction, implying a post-merger fraction below 2%.

  18. DRY MERGER RATE AND POST-MERGER FRACTION IN THE COMA CLUSTER CORE

    International Nuclear Information System (INIS)

    Cordero, Juan P.; Campusano, Luis E.; Haines, Christopher P.; De Propris, Roberto; Weinzirl, Tim; Jogee, Shardha

    2016-01-01

    We evaluate the dry merger activity in the Coma cluster, using a spectroscopically complete sample of 70 red-sequence (RS) galaxies, most of which (∼75%) are located within 0.2R 200 (∼0.5 Mpc) from the cluster center, with data from the Coma Treasury Survey obtained with the Hubble Space Telescope. The fraction of close galaxy pairs in the sample is the proxy employed for the estimation of the merger activity. We identify 5 pairs and 1 triplet, enclosing a total of 13 galaxies, based on limits on projected separation and line-of-sight velocity difference. Of these systems, none show signs of ongoing interaction, and therefore we do not find any true mergers in our sample. This negative result sets a 1σ upper limit of 1.5% per Gyr for the major dry merger rate, consistent with the low rates expected in present-day clusters. Detailed examination of the images of all the RS galaxies in the sample reveals only one with low surface brightness features identifiable as the remnant of a past merger or interaction, implying a post-merger fraction below 2%

  19. THE POPULATION OF HELIUM-MERGER PROGENITORS: OBSERVATIONAL PREDICTIONS

    International Nuclear Information System (INIS)

    Fryer, Chris L.; Belczynski, Krzysztof; Bulik, Tomasz; Berger, Edo; Thöne, Christina; Ellinger, Carola

    2013-01-01

    The helium-merger gamma-ray burst (GRB) progenitor is produced by the rapid accretion onto a compact remnant (neutron star or black hole) when it undergoes a common envelope inspiral with its companion's helium core. This merger phase produces a very distinct environment around these outbursts and recent observations suggest that, in some cases, we are detecting the signatures of the past merger in the GRB afterglow. These observations allow us, for the first time, to study the specific features of the helium-merger progenitor. In this paper, we couple population synthesis calculations to our current understanding of GRB engines and common envelope evolution to make observational predictions for the helium-merger GRB population. Many mergers do not produce GRB outbursts and we discuss the implications of these mergers with the broader population of astrophysical transients.

  20. Corporate Employee-Engagement and Merger Outcomes

    NARCIS (Netherlands)

    Liang, H.; Renneboog, Luc

    2017-01-01

    Extending the theories of employee incentives and inalienability of human capital, we investigate the link between a firm’s engagement in employee issues and the returns to shareholders around mergers and acquisitions (M&As) and analyze an international sample of 4,565 M&A deals from 48 countries.

  1. Mergers and innovation in the pharmaceutical industry.

    Science.gov (United States)

    Comanor, William S; Scherer, F M

    2013-01-01

    Conflicting trends confound the pharmaceutical industry. The productivity of pharmaceutical innovation has declined in recent years. At the same time, the cohort of large companies who are the leading engines of pharmaceutical R&D has become increasingly concentrated. The concurrent presence of these trends is not sufficient to determine causation. In response to lagging innovation prospects, some companies have sought refuge in mergers and acquisitions to disguise their dwindling prospects or gain R&D synergies. On the other hand, the increased concentration brought on by recent mergers may have contributed to the declining rate of innovation. In this paper, we consider the second of these causal relationships: the likely impact of the recent merger wave among the largest pharmaceutical companies on the rate of innovation. In other words, have recent mergers, which may have been taken in response to lagging innovation, represented a self-defeating strategy that only made industry outcomes worse? Copyright © 2012 Elsevier B.V. All rights reserved.

  2. Bargaining in Mergers and Termination Fees

    NARCIS (Netherlands)

    Weitzel, U.; Rosenkranz, S.

    We model takeovers as a bargaining process and explain termination fees for, both, the target and the acquirer, subject to parties’ bargaining power and outside options. In equilibrium, termination fees are offered by firms with outside options in exchange for a greater share of merger synergies.

  3. Mergers and acquisitions involving equine veterinary practices.

    Science.gov (United States)

    Jackman, Brad R; McCafferty, Owen E

    2009-12-01

    This article discusses mergers and acquisitions involving equine veterinary practices. Combining practices can be professionally and economically advantageous but requires a great deal of thought, planning, and implementation. If due diligence is performed and true business teamwork is undertaken, the benefits can be enormous and rewarding.

  4. Cross-border Mergers and Acquisitions

    DEFF Research Database (Denmark)

    Wang, Daojuan

    This paper focuses on three topics in cross-border mergers and acquisitions (CBM&As) field: motivations for CBM&As, valuation techniques and CBM&A performance (assessment and the determinants). By taking an overview of what have been found so far in academic field and investigating...

  5. Mergers and acquisitions: valuation and risk assessment

    International Nuclear Information System (INIS)

    Calvin, B.N.

    1996-01-01

    An independent review of all facets of risk management, as it pertains to mergers and acquisitions within the petroleum industry, with no transactional motivation, was provided by a representative of a firm specializing in all phases of risk assessment. The following topics received attention: (1) the forward curve versus industry expectations, (2) investor expectations, (3) financial versus physical transactions, and (4) synthetic debt

  6. Technology-based Mergers and Acquisitions

    DEFF Research Database (Denmark)

    Wang, Daojuan; Moini, Hamid

    2014-01-01

    The purpose of this chapter is to provide an updated review of what is known about the performance of technology-based mergers and acquisitions (TBM&As) and their determinants. This review brings together papers published from 1990 to 2012 in top-rated academic journals within nearly all fields...

  7. Fueling QSOs: the relevance of mergers

    Czech Academy of Sciences Publication Activity Database

    Bennert, N.; Canalizo, G.; Jungwiert, Bruno; Stockton, A.; Schweizer, F.; Peng, Ch.; Lacy, M.

    2008-01-01

    Roč. 79, č. 4 (2008), s. 1247-1250 ISSN 0037-8720 R&D Projects: GA MŠk(CZ) LC06014 Institutional research plan: CEZ:AV0Z10030501 Keywords : galaxy mergers * quasars * photometry Subject RIV: BN - Astronomy, Celestial Mechanics, Astrophysics

  8. Mergers and alliances the wider view

    CERN Document Server

    Woodsworth, Anne

    2013-01-01

    Volume 36 of Advances in Librarianship seeks to provide a broad review of the factors that lead to mergers and other alliances, the methods used to ensure effective and successful collaborations, and descriptions of the factors which contributed to less successful efforts at consolidation.

  9. Using transfer learning to detect galaxy mergers

    Science.gov (United States)

    Ackermann, Sandro; Schawinksi, Kevin; Zhang, Ce; Weigel, Anna K.; Turp, M. Dennis

    2018-05-01

    We investigate the use of deep convolutional neural networks (deep CNNs) for automatic visual detection of galaxy mergers. Moreover, we investigate the use of transfer learning in conjunction with CNNs, by retraining networks first trained on pictures of everyday objects. We test the hypothesis that transfer learning is useful for improving classification performance for small training sets. This would make transfer learning useful for finding rare objects in astronomical imaging datasets. We find that these deep learning methods perform significantly better than current state-of-the-art merger detection methods based on nonparametric systems like CAS and GM20. Our method is end-to-end and robust to image noise and distortions; it can be applied directly without image preprocessing. We also find that transfer learning can act as a regulariser in some cases, leading to better overall classification accuracy (p = 0.02). Transfer learning on our full training set leads to a lowered error rate from 0.0381 down to 0.0321, a relative improvement of 15%. Finally, we perform a basic sanity-check by creating a merger sample with our method, and comparing with an already existing, manually created merger catalogue in terms of colour-mass distribution and stellar mass function.

  10. Merger incentives and the failing firm defense

    NARCIS (Netherlands)

    Bouckaert, J.M.C.; Kort, P.M.

    2014-01-01

    The merger incentives between profitable firms differ fundamentally from the incentives of a profitable firm to merge with a failing firm. We investigate these incentives under different modes of price competition and Cournot behavior. Our main finding is that firms strictly prefer exit of the

  11. Efficiency Effects of Bank Mergers and Acquisitions

    NARCIS (Netherlands)

    H.P. Huizinga; J.H.M. Nelissen (Jan); R. Vander Vennet

    2001-01-01

    textabstractNext to technological progress and deregulation, the introduction of the euro is widely considered to be an important catalyst for bank consolidation in Europe. In order to assess the public policy issues surrounding bank mergers, this paper analyzes the efficiency effects of 52

  12. Merger and Acquisition in the Banking Sector

    Directory of Open Access Journals (Sweden)

    Anna Szewczyk

    2008-12-01

    Full Text Available The article presents situation on mergers and acquisitions (MA in banking sector during last twenty years. The main motives are selected and analyzed. All is explained on the base on research reports of the Deutsche Bundesbank and the European Central Bank.

  13. Resilience and Coping After Hospital Mergers.

    Science.gov (United States)

    Russo, Cynthia; Calo, Oriana; Harrison, Georgia; Mahoney, Kathleen; Zavotsky, Kathleen Evanovich

    The aim of this study was to explore the relationship between resilience and coping in frontline nurses working in a healthcare system that has recently undergone a merger. Hospital mergers are common in the current healthcare environment. Mergers can provide hospital nurses the opportunity to use and develop positive coping strategies to help remain resilient during times of change. An anonymous-survey, quantitative, exploratory, descriptive study design was used. Data were obtained from an electronic survey that was made available to all nurses working in a 3-hospital system located in the northeast. Overall, the results showed that, when nurses reported using positive coping strategies, they report higher levels of resilience. The levels of resilience also varied from campus to campus. The campus that has been through 2 recent mergers reported the highest levels of resilience. This study suggests that, during times of change in the workplace, if nurses are encouraged to use positive coping strategies, they may have higher levels of resilience. This changing environment provides the clinical nurse specialists/clinical nurse educators the opportunity to foster and support frontline nurses in the use of healthy coping strategies and to help improve and maintain a high level of resilience, which is critical in today's healthcare environment.

  14. A CEO roundtable on making mergers succeed.

    Science.gov (United States)

    Mandl, A; Bohnett, D; Liddy, E; Komansky, D; Kozlowski, D; Leschly, J; Gupta, R; McDonald, M; Avery, B; Moore, N; Krekel, T

    2000-01-01

    The announcement in January of the merger between America Online and Time Warner marked the convergence of the two most important business trends of the last five years--the rise of the Internet and the resurgence of mergers and acquisitions. M&A activity is at a fever pitch, spurred in large part by the breathtaking influx of capital into the Internet space. And all signs indicate the trend will only accelerate. Against this background, an impressive group of experienced deal makers came together to share their experiences of what makes mergers work. They were assembled in Scottsdale, Arizona, under the auspices of the M&A Group, a professional society formed in 1999 for CEOs interested in M&A as a business strategy. Participants included top executives from Internet start-ups like Teligent; venture capital firms like Baroda Ventures; financial institutions like Merrill Lynch and PricewaterhouseCoopers; and major corporations like Allstate, Tyco International, SmithKline Beecham, Rohm and Haas, VF, Crown Cork & Seal, and Hughes Space and Communications. The spirited and surprisingly frank discussion cut a wide swath, considering issues such as whether most mergers fail to pan out as well as expected, how to increase the odds of success, the nuts and bolts of the integration process, the trade-offs between acquiring a company and growing from within, the importance of cultural issues, and why anyone would want to be on the board of a merged company.

  15. The AGN Luminosity Fraction in Galaxy Mergers

    Science.gov (United States)

    Dietrich, Jeremy; Weiner, Aaron; Ashby, Matthew; Martinez-Galarza, Juan Rafael; Smith, Howard Alan

    2017-01-01

    Galaxy mergers are key events in galaxy evolution, generally triggering massive starbursts and AGNs. However, in these chaotic systems, it is not yet known what fraction each of these two mechanisms contributes to the total luminosity. Here we measure and model spectral energy distributions (SEDs) using the Code for Investigating Galaxy Emission (CIGALE) in up to 33 broad bands from the UV to the far-IR for 23 IR-luminous galaxies to estimate the fraction of the bolometric IR luminosity that can be attributed to the AGN. The galaxies are split nearly evenly into two subsamples: late-stage mergers, found in the IRAS Revised Bright Galaxy Sample or Faint Source Catalog, and early-stage mergers found in the Spitzer Interacting Galaxy Sample. We find that the AGN contribution to the total IR luminosity varies greatly from system to system, from 0% up to ~90%, but is substantially greater in the later-stage and brighter mergers. This is consistent with what is known about galaxy evolution and the triggering of AGNs.The SAO REU program is funded in part by the National Science Foundation REU and Department of Defense ASSURE programs under NSF Grant no. 1262851, and by the Smithsonian Institution.

  16. Synergy disclosures in mergers and acquisitions

    NARCIS (Netherlands)

    M.D.R.P. Dutordoir (Marie); P.G.J. Roosenboom (Peter); M. Teixeira de Vasconcelos (Manuel)

    2013-01-01

    textabstractWe examine bidding firms’ motives for disclosing a synergy forecast when announcing a merger or acquisition. Our sample consists of 1,990 M&A deals, of which 345 announce synergy estimates. Our results suggest that synergy disclosures serve to obtain a more favorable market reception for

  17. Shareholders’ expectations, aspiration levels, and mergers

    NARCIS (Netherlands)

    Diecidue, E.; van de Ven, J.; Weitzel, U.

    This paper offers a new explanation of value-reducing mergers and stock market driven takeovers by introducing recent research on aspiration levels and individual decision making under risk. If market valuation constitutes an aspiration level for managers, we show that managers may be tempted to

  18. Ultraluminous Infrared Mergers: Elliptical Galaxies in Formation?

    Science.gov (United States)

    Genzel, R.; Tacconi, L. J.; Rigopoulou, D.; Lutz, D.; Tecza, M.

    2001-12-01

    We report high-quality near-IR spectroscopy of 12 ultraluminous infrared galaxy mergers (ULIRGs). Our new VLT and Keck data provide ~0.5" resolution, stellar and gas kinematics of these galaxies, most of which are compact systems in the last merger stages. We confirm that ULIRG mergers are ``ellipticals in formation.'' Random motions dominate their stellar dynamics, but significant rotation is common. Gasdynamics and stellar dynamics are decoupled in most systems. ULIRGs fall on or near the fundamental plane of hot stellar systems, and especially on its less evolution-sensitive, reff-σ projection. The ULIRG velocity dispersion distribution, their location in the fundamental plane, and their distribution of vrotsini/σ closely resemble those of intermediate-mass (~L*), elliptical galaxies with moderate rotation. As a group ULIRGs do not resemble giant ellipticals with large cores and little rotation. Our results are in good agreement with other recent studies indicating that disky ellipticals with compact cores or cusps can form through dissipative mergers of gas-rich disk galaxies while giant ellipticals with large cores have a different formation history. Based on observations at the European Southern Observatory, Chile (ESO 65.N-0266, 65.N-0289), and on observations at the W. M. Keck Observatory, which is operated as a scientific partnership among the California Institute of Technology, The University of California, and the National Aeronautics and Space Administration. The Keck Observatory was made possible by the general financial support by the W. M. Keck Foundation.

  19. Merger mania: mergers and acquisitions in the generic drug sector from 1995 to 2016.

    Science.gov (United States)

    Gagnon, Marc-André; Volesky, Karena D

    2017-08-22

    Drug shortages and increasing generic drug prices are associated with low levels of competition. Mergers and acquisitions impact the level of competition. Record merger and acquisition activity was reported for the pharmaceutical sector in 2014/15, yet information on mergers and acquisitions in the generic drug sector are absent from the literature. This information is necessary to understand if and how such mergers and acquisitions can be a factor in drug shortages and increasing prices. Data on completed merger and acquisition deals that had a generic drug company being taken over (i.e. 'target') were extracted from Bloomberg Finance L.P. The number and announced value of deals are presented globally, for the United States, and globally excluding the United States annually from 1995 to 2016 in United States dollars. Generic drug companies comprised 9.3% of the value of all deals with pharmaceutical targets occurring from 1995 to 2016. Globally, in 1995 there were no deals, in 2014 there were 22 deals worth $1.86 billion, in 2015 there were 34 deals totalling $33.56 billion, and in 2016 there were 42 deals worth in excess of $44 billion. This substantial increase was partially attributed to Teva's 2016 acquisition of Allergan's generic drug business. The surge in mergers and acquisitions for 2015/16 was driven by deals in the United States, where they represented 89.7% of the dollar value of deals in those years. The recent blitz in mergers and acquisitions signals that the generic drug industry is undergoing a transformation, especially in the United States. This restructuring can negatively affect the level of competition that might impact prices and shortages for some products, emphasizing the importance of updating regulations and procurement policies.

  20. Financial Synergy in Mergers and Acquisitions in Saudi Arabia

    Directory of Open Access Journals (Sweden)

    Basmah Al Qudaiby (Basmah, A. Q.,

    2013-11-01

    Full Text Available Businesses today consider mergers and acquisitions a new strategy for their company’s growth. Companies aim to grow through sales’ increase, assets purchase, profits’ accumulation and market share gains. The better way for achieving these targets is by getting into either a Merger or an Acquisition. As a matter of fact, growth through mergers and acquisitions has been a critical part of the success of many companies operating in the new economy. Mergers and Acquisitions are an important factor in building up market capitalization. Based on three detailed and in depth structured interviews with major Saudi Arabian banks it has been found that, Mergers motivated by economies of scale should be approached cautiously. Companies should also approach vertical mergers cautiously because it is often difficult to gain synergy through a vertical merger and firms should also seek out mergers which allow the firm to acquire specialized knowledge. It has also been found that the firms should look for mergers that increase market power and avoid unrelated or conglomerate mergers.

  1. Synergic motives and economic success of mergers of Czech companies

    Directory of Open Access Journals (Sweden)

    Jaroslav Sedláček

    2013-01-01

    Full Text Available One of the motives for mergers and acquisitions is the synergy effect, which can take several forms. This paper tries to find out whether mergers implemented at the Czech market bring positive or negative synergies. The basis of our investigation is the database of the companies that implemented a merger within 2001–2009; out of these, the companies that published their financial statements in a digitalized form were selected. We monitored the development of six indicators characterizing the economic status of a company. The values of these indicators were compared for all participating companies before the merger and for the successor company three years after the merger. The hypotheses were formulated so that they expressed an expectation of a positive synergy brought about by mergers. However, hypothesis testing has not provided a clear result. A positive effect of a merger on the key indicator of net assets, whose growth means an increase in the accounting value of the company after the merger, has been proved for small and medium-sized companies only. The effect of mergers on the increase in indicators has been confirmed for retained earnings from past years and personal costs. Further research will concentrate on the relations between the indicators with the aim to create an integral indicator for the economic success of mergers.

  2. 49 CFR 192.16 - Customer notification.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 3 2010-10-01 2010-10-01 false Customer notification. 192.16 Section 192.16... BY PIPELINE: MINIMUM FEDERAL SAFETY STANDARDS General § 192.16 Customer notification. (a) This section applies to each operator of a service line who does not maintain the customer's buried piping up...

  3. 5 CFR 179.304 - Notification procedures.

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 1 2010-01-01 2010-01-01 false Notification procedures. 179.304 Section 179.304 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT CIVIL SERVICE REGULATIONS CLAIMS COLLECTION STANDARDS Administrative Offset § 179.304 Notification procedures. Before collecting any debt...

  4. 40 CFR 96.73 - Notifications.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 20 2010-07-01 2010-07-01 false Notifications. 96.73 Section 96.73 Protection of Environment ENVIRONMENTAL PROTECTION AGENCY (CONTINUED) AIR PROGRAMS (CONTINUED) NOX BUDGET... Reporting § 96.73 Notifications. The NOX authorized account representative for a NOX Budget unit shall...

  5. 28 CFR 73.3 - Form of notification.

    Science.gov (United States)

    2010-07-01

    ... 28 Judicial Administration 2 2010-07-01 2010-07-01 false Form of notification. 73.3 Section 73.3 Judicial Administration DEPARTMENT OF JUSTICE (CONTINUED) NOTIFICATIONS TO THE ATTORNEY GENERAL BY AGENTS OF FOREIGN GOVERNMENTS § 73.3 Form of notification. (a) Notification shall be made by the agent in...

  6. CHANDRA OBSERVATIONS OF GALAXY ZOO MERGERS: FREQUENCY OF BINARY ACTIVE NUCLEI IN MASSIVE MERGERS

    Energy Technology Data Exchange (ETDEWEB)

    Teng, Stacy H. [Observational Cosmology Laboratory, NASA/GSFC, Greenbelt, MD 20771 (United States); Schawinski, Kevin; Urry, C. Megan; Bonning, Erin W. [Department of Physics, Yale University, New Haven, CT 06511 (United States); Darg, Dan W.; Kaviraj, Sugata; Lintott, Chris J. [Department of Physics, University of Oxford, Keble Road, Oxford OX1 3RH (United Kingdom); Oh, Kyuseok [Department of Astronomy, Yonsei University, Seoul 120-749 (Korea, Republic of); Cardamone, Carolin N. [Harriet W. Sheridan Center for Teaching and Learning, Brown University, P.O. Box 1912, Providence, RI 02912 (United States); Keel, William C. [Department of Physics and Astronomy, 206 Gallalee Hall, 514 University Boulevard, University of Alabama, Tuscaloosa, AL 35487-034 (United States); Simmons, Brooke D. [Yale Center for Astronomy and Astrophysics, Yale University, P.O. Box 208121, New Haven, CT 06520 (United States); Treister, Ezequiel, E-mail: stacy.h.teng@nasa.gov [Departamento de Astronomia, Universidad de Concepcion, Casilla 160-C, Concepcion (Chile)

    2012-07-10

    We present the results from a Chandra pilot study of 12 massive galaxy mergers selected from Galaxy Zoo. The sample includes major mergers down to a host galaxy mass of 10{sup 11} M{sub Sun} that already have optical active galactic nucleus (AGN) signatures in at least one of the progenitors. We find that the coincidences of optically selected active nuclei with mildly obscured (N{sub H} {approx}< 1.1 Multiplication-Sign 10{sup 22} cm{sup -2}) X-ray nuclei are relatively common (8/12), but the detections are too faint (<40 counts per nucleus; f{sub 2-10keV} {approx}< 1.2 Multiplication-Sign 10{sup -13} erg s{sup -1} cm{sup -2}) to reliably separate starburst and nuclear activity as the origin of the X-ray emission. Only one merger is found to have confirmed binary X-ray nuclei, though the X-ray emission from its southern nucleus could be due solely to star formation. Thus, the occurrences of binary AGNs in these mergers are rare (0%-8%), unless most merger-induced active nuclei are very heavily obscured or Compton thick.

  7. Mergers and acquisitions for the radiologist.

    Science.gov (United States)

    Fleishon, Howard B

    2008-05-01

    In 2006 and the first half of 2007, the rapid pace of global activity contributed to the popularity of mergers and acquisitions (M&A). In fact, the medical imaging industry has a significant history in M&A as well. Along with the expectation of continued growth in medical imaging utilization and other industry trends, radiologists may become more involved in M&A transactions. There is little in the radiology literature dealing with the logistics and pitfalls of M&A. This article is an introduction for radiologists who might consider buying or selling their practices or merging with strategic partners. Although there are significant differences in the approaches of buy or sell situations compared with mergers, they do share several concepts that are outlined. One key to success in M&A transactions is the "process" or approach, which is described with some practical guidelines. Some basic terms and suggestions are also presented for reference.

  8. Do Municipal Mergers Improve Fiscal Outcomes?

    DEFF Research Database (Denmark)

    Hansen, Sune Welling; Houlberg, Kurt; Holm Pedersen, Lene

    2014-01-01

    Improved fiscal management is a frequent justification for promoting boundary consolidations. However, whether or not this is actually the case is rarely placed under rigorous empirical scrutiny. Hence, this article investigates if fiscal outcomes are improved when municipalities are merged....... The basic argument is that the conceptualisation of fiscal management in political science is often too narrow as it focuses on the budget and pays hardly any attention to balances in the final accounts and debts – elements of management which are central to policy making. On this background, the causal...... relationship between municipal mergers and fiscal outcomes is analysed. Measured on the balance between revenues and expenses, liquid assets and debts, municipal mergers improve the fiscal outcomes of the municipalities in a five-year perspective, although the pre-reform effects tend to be negative...

  9. The importance of partnerships, mergers and acquisitions

    Energy Technology Data Exchange (ETDEWEB)

    Trabandt, C.A. [Merrill Lynch, New York, NY (United States)

    1998-09-01

    An overview of the electric utility industry was presented. The main factors driving mergers and acquisitions in the industry were identified as being consolidation, disaggregation, convergence and international expansion. To prove the point, statistics from recent merger and acquisition transactions in the U.S. were presented. The importance of disaggregation of the utility business and convergence as the major themes of the electricity and natural gas industries were demonstrated. They are driven by a new competitive marketplace and fewer regulations. The driving forces behind them were explained, buttressing the arguments with recent statistics reflecting an upsurge in convergence transactions. Significant opportunities abroad and recent foreign acquisitions by U. S. utilities were also reviewed. With regard to convergence, it was shown to be occurring in both the generation/wholesale and distribution/retail marketing segment of the electric power industry. 3 figs.

  10. Estimating the potential gains from mergers

    DEFF Research Database (Denmark)

    Bogetoft, Peter; Wang, Dexiang

    2005-01-01

    We introduce simple production economic models to estimate the potential gains from mergers. We decompose the gains into technical ef¿ciency, size (scale) and harmony (mix) gains, and we discuss alternative ways to capture these gains. We propose to approximate the production processes using...... the non-parametric. Data Envelopment Analysis (DEA) approach, and we use the resulting operational approach to estimate the potential gains from merging agricultural extension of¿ces in Denmark....

  11. Merger negotiations with stock market feedback

    OpenAIRE

    Betton, Sandra; Eckbo, B. Espen; Thompson, Rex; Thorburn, Karin S.

    2011-01-01

    Merger negotiations routinely occur amidst economically significant a target stock price runups. Since the source of the runup is unobservable (is it a target stand-alone value change and/or deal anticipation?), feeding the runup back into the offer price risks "paying twice" for the target shares. We present a novel structural empirical analysis of this runup feedback hypothesis. We show that rational deal anticipation implies a nonlinear relationship between the runup and the offer price ma...

  12. Maximum Redshift of Gravitational Wave Merger Events

    Science.gov (United States)

    Koushiappas, Savvas M.; Loeb, Abraham

    2017-12-01

    Future generations of gravitational wave detectors will have the sensitivity to detect gravitational wave events at redshifts far beyond any detectable electromagnetic sources. We show that if the observed event rate is greater than one event per year at redshifts z ≥40 , then the probability distribution of primordial density fluctuations must be significantly non-Gaussian or the events originate from primordial black holes. The nature of the excess events can be determined from the redshift distribution of the merger rate.

  13. A scoreboard of mergers and acquisitions

    Energy Technology Data Exchange (ETDEWEB)

    Parent, L.V

    1989-08-01

    In the late 70s and early 80s when market growth was not a viable alternative and price deregulation was imminent, new strategies were sought that would provide some basis for survival in a deregulated environment, and merger/acquisition strategy took on new significance. According to the author, eight mega gas pipe line companies have evolved. The strategic objectives behind these merges is analyzed.

  14. Gravitational waves from primordial black hole mergers

    Energy Technology Data Exchange (ETDEWEB)

    Raidal, Martti; Vaskonen, Ville; Veermäe, Hardi, E-mail: martti.raidal@cern.ch, E-mail: ville.vaskonen@kbfi.ee, E-mail: hardi.veermae@cern.ch [NICPB, Rävala 10, 10143 Tallinn (Estonia)

    2017-09-01

    We study the production of primordial black hole (PBH) binaries and the resulting merger rate, accounting for an extended PBH mass function and the possibility of a clustered spatial distribution. Under the hypothesis that the gravitational wave events observed by LIGO were caused by PBH mergers, we show that it is possible to satisfy all present constraints on the PBH abundance, and find the viable parameter range for the lognormal PBH mass function. The non-observation of a gravitational wave background allows us to derive constraints on the fraction of dark matter in PBHs, which are stronger than any other current constraint in the PBH mass range 0.5−30 M {sub ⊙}. We show that the predicted gravitational wave background can be observed by the coming runs of LIGO, and its non-observation would indicate that the observed events are not of primordial origin. As the PBH mergers convert matter into radiation, they may have interesting cosmological implications, for example in the context of relieving the tension between high and low redshift measurements of the Hubble constant. However, we find that these effects are suppressed as, after recombination, no more that 1% of dark matter can be converted into gravitational waves.

  15. GRAVITATIONAL MEMORY IN BINARY BLACK HOLE MERGERS

    International Nuclear Information System (INIS)

    Pollney, Denis; Reisswig, Christian

    2011-01-01

    In addition to the dominant oscillatory gravitational wave signals produced during binary inspirals, a non-oscillatory component arises from the nonlinear 'memory' effect, sourced by the emitted gravitational radiation. The memory grows significantly during the late-inspiral and merger, modifying the signal by an almost step-function profile, and making it difficult to model by approximate methods. We use numerical evolutions of binary black holes (BHs) to evaluate the nonlinear memory during late-inspiral, merger, and ringdown. We identify two main components of the signal: the monotonically growing portion corresponding to the memory, and an oscillatory part which sets in roughly at the time of merger and is due to the BH ringdown. Counterintuitively, the ringdown is most prominent for models with the lowest total spin. Thus, the case of maximally spinning BHs anti-aligned to the orbital angular momentum exhibits the highest signal-to-noise ratio (S/N) for interferometric detectors. The largest memory offset, however, occurs for highly spinning BHs, with an estimated value of h tot 20 ≅ 0.24 in the maximally spinning case. These results are central to determining the detectability of nonlinear memory through pulsar timing array measurements.

  16. Cosmic Collisions: Galaxy Mergers and Evolution

    Science.gov (United States)

    Trouille, Laura; Willett, Kyle; Masters, Karen; Lintott, Christopher; Whyte, Laura; Lynn, Stuart; Tremonti, Christina A.

    2014-08-01

    Over the years evidence has mounted for a significant mode of galaxy evolution via mergers. This process links gas-rich, spiral galaxies; starbursting galaxies; active galactic nuclei (AGN); post-starburst galaxies; and gas-poor, elliptical galaxies, as objects representing different phases of major galaxy mergers. The post-starburst phase is particularly interesting because nearly every galaxy that evolves from star-forming to quiescent must pass through it. In essence, this phase is a sort of galaxy evolution “bottleneck” that indicates that a galaxy is actively evolving through important physical transitions. In this talk I will present the results from the ‘Galaxy Zoo Quench’ project - using post-starburst galaxies to place observational constraints on the role of mergers and AGN activity in quenching star formation. `Quench’ is the first fully collaborative research project with Zooniverse citizen scientists online; engaging the public in all phases of research, from classification to data analysis and discussion to writing the article and submission to a refereed journal.

  17. Merger and Innovation Incentives in a Differentiated Industry

    OpenAIRE

    Kesavayuth, Dusanee; Lee, Sang-Ho; Zikos, Vasileios

    2017-01-01

    In this paper, we consider a duopoly with product differentiation and examine the interaction between merger and innovation incentives. The analysis reveals that a merger tends to discourage innovation, unless the investment cost is sufficiently low. This result holds whether or not side payments between firms are allowed. When side payments are permitted, a bilateral merger-to-monopoly is always profitable, a standard result in the literature. When side payments are not permitted, however, w...

  18. The benefit of mergers and taking-overs

    International Nuclear Information System (INIS)

    Nillesen, P.H.L.; Keats, K.; Pollitt, M.

    2001-01-01

    Electricity companies can realize considerable efficiency benefits through mergers by using management skills of a more efficient company and the resulting changed mix of inputs. In this article a pattern of thought is introduced by means of which cost savings of mergers can be identified in a strategic and scientific way. Such a way of thinking can be applied, e.g. in a cash flow analysis, in the valuation of companies and in the merger and taking-over process. 7 refs

  19. VersaCold: Analysis of Change Management in Mergers & Acquisitions

    OpenAIRE

    Eslami, Sara

    2011-01-01

    Many firms use mergers and acquisitions as a corporate strategy to increase shareholder value. Therefore, understanding such a widely exercised strategy and its implications on corporate change would be critical for organizations that wish to pursue this strategy. This study provides an in depth review of mergers and acquisitions and introduces best practices for managing changes that result from mergers and acquisitions. Next, the concepts are applied to two cases of acquisitions in VersaCol...

  20. Strategy and Tactics of International Mergers and Acquisitions

    Directory of Open Access Journals (Sweden)

    Denys Kiriakov

    2011-12-01

    Full Text Available The article reviews contemporary strategy and tactics issues in terms of international mergers and acquisitions, along with displaying cyclical waves of mergers and acquisitions over the last century as well as motivation thereof. Five strategies adhered to by international companies initiating conclusion of such agreements as well as challenges accompanying execution thereof have been analyzed. Modern strategic and tactical tools of international mergers and acquisitions process management have been researched on exemplary buyer (a corporation case-study.

  1. Value Creation through ICT Integration in Merger & Acquisition Processes

    DEFF Research Database (Denmark)

    Holm Larsen, Michael

    2005-01-01

    As deals are becoming more complex, and as technology, and the people supporting it, are becoming key drivers of merger and acquisition processes, planning of information and communication technologies in early stages of the integration process is vital to the realization of benefits of an Merger...... & Acquisition process. This statement is substantiated through review of literature from academics as well as practitioners, and case exemplifications of the financial service organization, the Nordea Group. Keywords: ICT Integration, Mergers & Acquisitions, Nordea Group....

  2. Manufacturers Mergers and Product Variety in Vertically Related Markets

    OpenAIRE

    Chrysovalantou Milliou; Joel Sandonis

    2014-01-01

    We study final product manufacturers’ incentives to introduce new products into the market and how they are affected by a merger among them. We show that when manufacturers distribute their products through multi-product retailers, a manufacturers merger, although it leads to an increase in the wholesale prices, it can enhance product variety. The merger generated product variety efficiencies though arise only when vertical relations are present: when manufacturers sell directly their produ...

  3. of Mergers and Acquisitions on the Human Resource Department

    OpenAIRE

    mohatta, maulshree

    2007-01-01

    Mergers and acquisitions take place in all forms of industries and businesses, however small or large. They have and impact on almost all the areas and departments of business. One department in any business or industry on which a merger or an acquisition has a major impact is the human recourse department or the personnel of the companies which have undergone a merger, or have acquired, or have been acquired. The following dissertation represents an analysis of the research carried out...

  4. An Empirical Analysis of Post-Merger Organizational Integration

    OpenAIRE

    Smeets, Valerie Anne Rolande; Gibbs, Michael; Ierulli, Kathryn

    2015-01-01

    We study post-merger organizational integration using linked employer-employee data. Integration is implemented by reassigning a small number of high skilled workers, especially in R&D and management. Workforce mixing is concentrated to establishments set up after merger rather than to previously existing establishments. Worker turnover is high after merger, but new hiring yields stable total employment. Target employees have higher turnover and reassignment, particularly if the target fi...

  5. The Fallacies of Mergers Being Acquisitions: Fact or Fiction?

    OpenAIRE

    Maneckji, Hilla Shahpur

    2006-01-01

    The goal of this dissertation study was to examine the fallacies of mergers being acquisitions, which is a very new topic, and that hasn’t been investigated in detail before. The aim of this research was to investigate if major global mergers were acquisitions in camouflage and were only created to portray a false perception. The study was conducted to understand the differences and characteristics between mergers and acquisitions that were further examined taking into account live case studi...

  6. 24 CFR 242.67 - New corporations, subsidiaries, affiliations, and mergers.

    Science.gov (United States)

    2010-04-01

    ..., affiliations, and mergers. 242.67 Section 242.67 Housing and Urban Development Regulations Relating to Housing... Reporting, and Financial Requirements § 242.67 New corporations, subsidiaries, affiliations, and mergers... written approval for all future mergers. ...

  7. Role of Human Resources in the Mergers and Acquisitions Processes

    Directory of Open Access Journals (Sweden)

    Anna Szewczyk

    2007-06-01

    Full Text Available The human resources are one of the most important topics when you talk about the value and importance of a company itself. The article tries to show the different aspects where the human resource affects a merger in the different states of a merger process, especially to the pre-merger-phase, and to which problems it can lead when you not pay attention to it. Finally the question, which is indeed the most important aim concerning mergers namely: how and in which degree the human resource effects the goodwill, is tried to answer.

  8. Maximizing value through mergers and acquisitions in the petroleum industry

    International Nuclear Information System (INIS)

    Anon.

    1996-01-01

    An 'Insight' conference was held in February 1996 to help understand the economics of mergers and acquisitions in the petroleum industry. Speaking notes, overhead projection slides and full text of the presentations (where available) from seven contributors at the conference were combined in this volume of proceedings. Specific topics of discussion included a review of the current scene in mergers and acquisitions, assessing management and employees, optimizing tax advantages, looking for synergies, the value of human perspective in mergers and acquisitions, tips on analyzing the engineering report, and the market's perception of merger and acquisition reporting. tabs., figs

  9. A BARYONIC EFFECT ON THE MERGER TIMESCALE OF GALAXY CLUSTERS

    International Nuclear Information System (INIS)

    Zhang, Congyao; Yu, Qingjuan; Lu, Youjun

    2016-01-01

    Accurate estimation of the merger timescales of galaxy clusters is important for understanding the cluster merger process and further understanding the formation and evolution of the large-scale structure of the universe. In this paper, we explore a baryonic effect on the merger timescale of galaxy clusters by using hydrodynamical simulations. We find that the baryons play an important role in accelerating the merger process. The merger timescale decreases upon increasing the gas fraction of galaxy clusters. For example, the merger timescale is shortened by a factor of up to 3 for merging clusters with gas fractions of 0.15, compared with the timescale obtained with 0 gas fractions. The baryonic effect is significant for a wide range of merger parameters and is particularly more significant for nearly head-on mergers and high merging velocities. The baryonic effect on the merger timescale of galaxy clusters is expected to have an impact on the structure formation in the universe, such as the cluster mass function and massive substructures in galaxy clusters, and a bias of “no-gas” may exist in the results obtained from the dark matter-only cosmological simulations

  10. Using Black Hole Mergers to Explore Structure Formation

    Science.gov (United States)

    Alicea-Munoz, E.; Miller, M. Coleman

    2009-01-01

    Observations of gravitational waves from massive black hole mergers will open a new window into the era of structure formation in the early universe. Past efforts have concentrated on calculating merger rates using different physical assumptions, resulting in merger rate estimates that span a wide range (0.1 - 10(exp 4) mergers/year). We develop a semi-analytical, phenomenological model of massive black hole mergers that includes plausible combinations of several physical parameters, which we then turn around to determine how well observations with the Laser Interferometer Space Antenna (LISA) will be able to enhance our understanding of the universe during the critical z approximately equal to 5-30 epoch. Our approach involves generating synthetic LISA observable data (total BH masses, BH mass ratios, redshifts, merger rates), which are then analyzed using a Markov Chain Monte Carlo method, thus finding constraints for the physical parameters of the mergers. We find that our method works well at estimating merger parameters and that the number of merger events is a key discriminant among models, therefore making our method robust against observational uncertainties. Our approach can also be extended to more physically-driven models and more general problems in cosmology. This work is supported in part by the Cooperative Education Program at NASA/GSFC.

  11. The effect of mergers and acquisitions on behavioral health care.

    Science.gov (United States)

    Lazarus, A

    1995-01-01

    The consolidation of America's managed health care industry rivals any corporate raider scenario. Unlike previous merger booms, however, health care unions in the 1990s have been strategically planned. Particular attention is paid to merger activity in the behavioral health care field. Ultimately, the author writes, mergers will bring greater efficiency and lower costs to health care but also less choice for patients. Unless providers and payers pay close attention to the human side of mergers and acquisitions, new alliances are likely to fall short of their goals.

  12. Maximizing value through mergers and acquisitions in the petroleum industry

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1996-12-01

    An `Insight` conference was held in February 1996 to help understand the economics of mergers and acquisitions in the petroleum industry. Speaking notes, overhead projection slides and full text of the presentations (where available) from seven contributors at the conference were combined in this volume of proceedings. Specific topics of discussion included a review of the current scene in mergers and acquisitions, assessing management and employees, optimizing tax advantages, looking for synergies, the value of human perspective in mergers and acquisitions, tips on analyzing the engineering report, and the market`s perception of merger and acquisition reporting. tabs., figs.

  13. Efficiency Gains and Myopic Antitrust Authority in a Dynamic Merger Game

    OpenAIRE

    MOTTA, Massimo; VASCONCELOS, Helder

    2003-01-01

    This Paper models a sequential merger formation game with endogenous efficiency gains in which every merger has to be submitted for approval to the Antitrust Authority (AA). Two different types of AA are studied: first, a myopic AA, which judges a given merger without considering that subsequent mergers may occur; and, second, a forward-looking AA, which anticipates the ultimate market structure a given merger will lead to. By contrasting the decisions of these two types of AA, merger policy ...

  14. Timeliness of notification systems for infectious diseases: A systematic literature review.

    NARCIS (Netherlands)

    Swaan, Corien; van den Broek, Anouk; Kretzschmar, Mirjam; Richardus, Jan Hendrik

    2018-01-01

    Timely notification of infectious diseases is crucial for prompt response by public health services. Adequate notification systems facilitate timely notification. A systematic literature review was performed to assess outcomes of studies on notification timeliness and to determine which aspects of

  15. Merger market power analysis: Pacific Enterprises and Enova Corporation

    International Nuclear Information System (INIS)

    Bailey, S.

    1999-01-01

    The Pacific Enterprises - Enova (PE-Enova) merger may be viewed as an example of the new breed of gas and power 'convergence' mergers. The merger involved the combination of a large gas distribution utility and a contiguous gas and electric utility located in Southern California. As with most mergers, the PE-Enova merger was proposed to federal and state regulators as an opportunity to achieve ratepayer savings. However, the merger also presented an issue of vertical market power involving the substantial electric generation capacity served by Southern California Gas Company (SoCalGas) and its potential impact on electric market prices, and the associated revenues for generation assets owned by San Diego Gas and Electric (SDGandE). In order for the merger to proceed, the approval of at least five separate State and federal regulators would be required. Although much of the attention of state regulators, proponents, and intervenors surrounded the division of synergy savings between ratepayers and shareholders, the analysis of the potential for market power abuse was extensive. Intervenors presented numerous complex arguments regarding the potential adverse effects of the merger on competition. In particular, intervenors argued that the combined company would manipulate its storage and transport operations to influence the delivered price of gas to California generators, and therefore, the price of power in the wholesale electric market. The arguments surrounding the existence and impacts of market power in this case are of interest in the understanding the nature and complexity of factors that may be considered in evaluating mergers. The proceeding also provides insight into how regulators are grappling with market power issues associated with convergence mergers, and weigh merger costs and benefits

  16. MERGER SIGNATURES IN THE DYNAMICS OF STAR-FORMING GAS

    International Nuclear Information System (INIS)

    Hung, Chao-Ling; Sanders, D. B.; Hayward, Christopher C.; Smith, Howard A.; Ashby, Matthew L. N.; Martínez-Galarza, Juan R.; Zezas, Andreas; Lanz, Lauranne

    2016-01-01

    The recent advent of integral field spectrographs and millimeter interferometers has revealed the internal dynamics of many hundreds of star-forming galaxies. Spatially resolved kinematics have been used to determine the dynamical status of star-forming galaxies with ambiguous morphologies, and constrain the importance of galaxy interactions during the assembly of galaxies. However, measuring the importance of interactions or galaxy merger rates requires knowledge of the systematics in kinematic diagnostics and the visible time with merger indicators. We analyze the dynamics of star-forming gas in a set of binary merger hydrodynamic simulations with stellar mass ratios of 1:1 and 1:4. We find that the evolution of kinematic asymmetries traced by star-forming gas mirrors morphological asymmetries derived from mock optical images, in which both merger indicators show the largest deviation from isolated disks during strong interaction phases. Based on a series of simulations with various initial disk orientations, orbital parameters, gas fractions, and mass ratios, we find that the merger signatures are visible for ∼0.2–0.4 Gyr with kinematic merger indicators but can be approximately twice as long for equal-mass mergers of massive gas-rich disk galaxies designed to be analogs of z ∼ 2–3 submillimeter galaxies. Merger signatures are most apparent after the second passage and before the black holes coalescence, but in some cases they persist up to several hundred Myr after coalescence. About 20%–60% of the simulated galaxies are not identified as mergers during the strong interaction phase, implying that galaxies undergoing violent merging process do not necessarily exhibit highly asymmetric kinematics in their star-forming gas. The lack of identifiable merger signatures in this population can lead to an underestimation of merger abundances in star-forming galaxies, and including them in samples of star-forming disks may bias the measurements of disk

  17. INSPIRALLING SUPERMASSIVE BLACK HOLES: A NEW SIGNPOST FOR GALAXY MERGERS

    International Nuclear Information System (INIS)

    Comerford, Julia M.; Gerke, Brian F.; Newman, Jeffrey A.; Davis, Marc; Yan, Renbin; Cooper, Michael C.; Coil, Alison L.; Faber, S. M.; Koo, David C.; Rosario, D. J.; Dutton, Aaron A.

    2009-01-01

    We present a new technique for observationally identifying galaxy mergers spectroscopically rather than through host galaxy imaging. Our technique exploits the dynamics of supermassive black holes (SMBHs) powering active galactic nuclei (AGNs) in merger-remnant galaxies. Because structure in the universe is built up through galaxy mergers and nearly all galaxies host a central SMBH, some galaxies should possess two SMBHs near their centers as the result of a recent merger. These SMBHs spiral to the center of the resultant merger-remnant galaxy, and one or both of the SMBHs may power AGNs. Using the DEEP2 Galaxy Redshift Survey, we have examined 1881 red galaxies, of which 91 exhibit [O III] and Hβ emission lines indicative of Seyfert 2 activity. Of these, 32 AGNs have [O III] emission-line redshifts significantly different from the redshifts of the host galaxies' stars, corresponding to velocity offsets of ∼50 km s -1 to ∼300 km s -1 . Two of these AGNs exhibit double-peaked [O III] emission lines, while the remaining 30 AGNs each exhibit a single set of velocity-offset [O III] emission lines. After exploring a variety of physical models for these velocity offsets, we argue that the most likely explanation is inspiralling SMBHs in merger-remnant galaxies. Based on this interpretation, we find that roughly half of the red galaxies hosting AGNs are also merger remnants, which implies that mergers may trigger AGN activity in red galaxies. The AGN velocity offsets we find imply a merger fraction of ∼30% and a merger rate of ∼3 mergers Gyr -1 for red galaxies at redshifts 0.34 < z < 0.82.

  18. 49 CFR 577.11 - Reimbursement notification.

    Science.gov (United States)

    2010-10-01

    ...-notification remedies and identify the type of remedy eligible for reimbursement; (3) Identify any limits on..., and arguments, that all covered vehicles are under warranty or that no person would be eligible for...

  19. 29 CFR 2400.5 - Notification.

    Science.gov (United States)

    2010-07-01

    ... individuals to determine the types of systems of records maintained by OSHRC. (1) Upon written request, OSHRC.... Interested persons may then submit written data, views, or arguments to OSHRC. (e) Notification of exemptions...

  20. Pre-Trip Notification Database (PTNS)

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — The PTNS contains pre-trip notification data from vessels participating in the Northeast Multispecies groundfish fishery from 2010 to present and the Longfin squid...

  1. GALAXY MERGERS AND DARK MATTER HALO MERGERS IN ΛCDM: MASS, REDSHIFT, AND MASS-RATIO DEPENDENCE

    International Nuclear Information System (INIS)

    Stewart, Kyle R.; Bullock, James S.; Barton, Elizabeth J.; Wechsler, Risa H.

    2009-01-01

    We employ a high-resolution ΛCDM N-body simulation to present merger rate predictions for dark matter (DM) halos and investigate how common merger-related observables for galaxies-such as close pair counts, starburst counts, and the morphologically disturbed fraction-likely scale with luminosity, stellar mass, merger mass ratio, and redshift from z = 0 to z = 4. We investigate both rate at which subhalos first enter the virial radius of a larger halo (the 'infall rate'), and the rate at which subhalos become destroyed, losing 90% of the mass they had at infall (the d estruction rate ) . For both merger rate definitions, we provide a simple 'universal' fitting formula that describes our derived merger rates for DM halos a function of dark halo mass, merger mass ratio, and redshift, and go on to predict galaxy merger rates using number density matching to associate halos with galaxies. For example, we find that the instantaneous (destruction) merger rate of m/M > 0.3 mass-ratio events into typical L ∼> f L * galaxies follows the simple relation dN/dt ≅ 0.03(1 + f) Gyr -1 (1 + z) 2.1 . Despite the rapid increase in merger rate with redshift, only a small fraction of >0.4 L * high-redshift galaxies (∼3% at z = 2) should have experienced a major merger (m/M > 0.3) in the very recent past (t 0.3) in the previous 700 Myr and conclude that mergers almost certainly play an important role in delivering baryons and influencing the kinematic properties of Lyman break galaxies (LBGs).

  2. STRUCTURAL ANALYSIS OF MERGERS AND ACQUISITIONS IN THE FOOD INDUSTRY

    OpenAIRE

    Adams, Wendi L.; Love, H. Alan; Capps, Oral, Jr.

    1997-01-01

    Determinants of merger and acquisition activity in the food industry are analyzed using logit regression analysis. Factors affecting the food processing, food retailing and food service sectors are considered. Results indicate merger and acquisition activity in all three sectors are significantly influenced by antitrust activity, profitability and real gross domestic product.

  3. Transparency and Coordinated Effects in European Merger Control

    DEFF Research Database (Denmark)

    Albæk, Svend; Møllgaard, H. Peter; Overgaard, Per Baltzer

    2010-01-01

    In this paper, we first outline the foundations in economic theory of so-called coordinated effects with a particular view to mergers and with a special focus on transparency. Then, we review a number of seminal merger cases in EU competition policy (Airtours, Sony/BMG, ABF/GBI Business) in light...

  4. 12 CFR 931.5 - Liquidation, merger, or consolidation.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Liquidation, merger, or consolidation. 931.5 Section 931.5 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.5 Liquidation, merger, or consolidation. The...

  5. What Drives Private and Public Merger Waves in Europe?

    DEFF Research Database (Denmark)

    Bartholdy, Jan; Blunck, Benjamin

    What drives merger waves? Harford 2005 argues that mergers are an efficient response to economic shocks to an industry, whereas Rhodes-Kropf, Robinson & Viswanathan 2005 argues that merger waves are driven by overvaluation of the acquiring firm, and to a lesser extent, the target firm. Both paper...... significant differences between driving forces for listed firms and for private firms. Public or listed firm mergers and acquisitions are primarily driven by overvaluation or behavioural factors, whereas private transactions are driven by economic factors.......What drives merger waves? Harford 2005 argues that mergers are an efficient response to economic shocks to an industry, whereas Rhodes-Kropf, Robinson & Viswanathan 2005 argues that merger waves are driven by overvaluation of the acquiring firm, and to a lesser extent, the target firm. Both papers...... are based on empirical analyses of listed US firms. This paper presents additional evidence of merger waves in the European Union (EU). The use of European data allows a more detailed analysis, since firm level data is available for both listed as well as private transactions. This analysis reveals...

  6. Migrating Legacy Systems in the Global Merger & Acquisition Environment

    Science.gov (United States)

    Katerattanakul, Pairin; Kam, Hwee-Joo; Lee, James J.; Hong, Soongoo

    2009-01-01

    The MetaFrame system migration project at WorldPharma, while driven by merger and acquisition, had faced complexities caused by both technical challenges and organizational issues in the climate of uncertainties. However, WorldPharma still insisted on instigating this post-merger system migration project. This project served to (1) consolidate the…

  7. Mergers and acquisitions's impact on financial performance: an ...

    African Journals Online (AJOL)

    Mergers and acquisitions's impact on financial performance: an evaluation with perspective of time. ... Journal Home > Vol 9, No 5S (2017) > ... are firms are able to convert these qualitative aspects into quantitative form and if yes than ... Keywords: mergers and acquisitions; du pont analysis; long run; financial performance; ...

  8. Strategic Mergers of Strong Institutions to Enhance Competitive Advantage

    Science.gov (United States)

    Harman, Grant; Harman, Kay

    2008-01-01

    Strategic mergers are formal combinations or amalgamations of higher education institutions with the aim of enhancing competitive advantage, or merging for "mutual growth". Recently, in a number of countries, there has been a decided shift from mergers initiated by governments, and dealing mainly with "problem" cases, towards…

  9. University Mergers in Russia: Four Waves of Educational Policy

    Science.gov (United States)

    Romanenko, K. R.; Lisyutkin, M. A.

    2018-01-01

    This article is aimed at identifying distinctive features of the educational policy of university mergers--their main stages, types, and declared goals. We analyzed cases of university mergers and acquisitions (M&A) from the 1990s to the present, which allowed us to identify and describe four Russia-specific waves of educational policy. Based…

  10. Do Mergers of Potentially Dominant firms foster Innovation?

    NARCIS (Netherlands)

    Cefis, E.; Sabidussi, A.; Schenk, E.J.J.

    2007-01-01

    We investigate the effects of M&A on innovation in the specific context of potential or realized market dominance. Authorities are challenged by balancing both detrimental and beneficial effects of mergers on innovation, especially when a merger threatens to result in market dominance, while

  11. Star formation in mergers with comologically motivated initial conditions

    NARCIS (Netherlands)

    Karman, Wouter; Macciò, Andrea V.; Kannan, Rahul; Moster, Benjamin P.; Somerville, Rachel S.

    2015-01-01

    We use semi-analytic models and cosmological merger trees to provide the initial conditions for multimerger numerical hydrodynamic simulations, and exploit these simulations to explore the effect of galaxy interaction and merging on star formation (SF). We compute numerical realizations of 12 merger

  12. Discriminating strange star mergers from neutron star mergers by gravitational-wave measurements

    International Nuclear Information System (INIS)

    Bauswein, A.; Oechslin, R.; Janka, H.-T.

    2010-01-01

    We perform three-dimensional relativistic hydrodynamical simulations of the coalescence of strange stars and explore the possibility to decide on the strange matter hypothesis by means of gravitational-wave measurements. Self-binding of strange quark matter and the generally more compact stars yield features that clearly distinguish strange star from neutron star mergers, e.g. hampering tidal disruption during the plunge of quark stars. Furthermore, instead of forming dilute halo structures around the remnant as in the case of neutron star mergers, the coalescence of strange stars results in a differentially rotating hypermassive object with a sharp surface layer surrounded by a geometrically thin, clumpy high-density strange quark matter disk. We also investigate the importance of including nonzero temperature equations of state in neutron star and strange star merger simulations. In both cases we find a crucial sensitivity of the dynamics and outcome of the coalescence to thermal effects, e.g. the outer remnant structure and the delay time of the dense remnant core to black hole collapse depend on the inclusion of nonzero temperature effects. For comparing and classifying the gravitational-wave signals, we use a number of characteristic quantities like the maximum frequency during inspiral or the dominant frequency of oscillations of the postmerger remnant. In general, these frequencies are higher for strange star mergers. Only for particular choices of the equation of state the frequencies of neutron star and strange star mergers are similar. In such cases additional features of the gravitational-wave luminosity spectrum like the ratio of energy emitted during the inspiral phase to the energy radiated away in the postmerger stage may help to discriminate coalescence events of the different types. If such characteristic quantities could be extracted from gravitational-wave signals, for instance with the upcoming gravitational-wave detectors, a decision on the

  13. Vergi Hukukunda Tebligatta Yeni Bir Uygulama: Elektronik Tebligat(A Recent Implementation in Notification in Tax Law: Electronic Notification

    Directory of Open Access Journals (Sweden)

    Hatice YURTSEVER

    2016-08-01

    Full Text Available Tax-basis documents are to be notified to tax payers via various manners and methods. Timely notification is important on the basis of people given enough time and instruments for their right to legal remedies to be carried into effect. Notifications regarding tax collection are carried out according to Tax Precedure Law whereas notifications regarding tax trials for tax disputes are carried out according to Notification Law. In order to solve notification related problems, an analogy should be drawn between Tax Precedure Law and Notification Law. Also, in the case of notifications via traditional methods, it is seen that significant information for tax payers may not be delivered on time and therefore tax claim collections may be legally impossible. Within this framework, in order to provide timely taxation and complete the taxation procedure, by virtue of the development in IT, electronic notification in addition to the said notification methods should take place in regulations. It is obvious that electronic notification would be safer and faster in comparison to the physical notification methods. Notification taking days through traditinional notification methods could be received by the addressee via e-notification in such a swift way.

  14. MORTUARY MERGERS AND THE INTERNATIONALIZATION OF INTERMENT

    Directory of Open Access Journals (Sweden)

    David O. Whitten

    2001-01-01

    Full Text Available “Mortuary Mergers and the Internationalization of Interment” is a study ofthe death services industry’s response to a changing market. Throughout the industry and across national borders, independent mortuaries and cemeteries are merging or consolidating. International death services firms are structured much as the automobile, oil, and communications multinationals are. Monopolistic competition is increasingly replaced by national and international oligopoly that may well translate into monopoly in isolated markets and lead to antitrust action and regulation. The study develops the historical roots of the death services industry but concentrates on the revolution underway. The prospects for the industry in the twenty-first century conclude the paper.

  15. The human resources in mergers and acquisitions

    Directory of Open Access Journals (Sweden)

    Noemí Martínez Caraballo

    2007-07-01

    Full Text Available In view of intangible resources -and, among them, human capital- play a significant role in the managerial strategy, this article aims to analyze the fit of human resources in companies that has been target of mergers and/or acquisitions processes. In this sense, the present paper will be centered in carrying out a state of the art of this topic and in showing some evidences about the top managers perceptions of the target company with the purpose of better understanding which are the reasons for the departure and the permanence of them.

  16. Performance Assessment of Mergers and Acquisitions

    DEFF Research Database (Denmark)

    Wang, Daojuan; Moini, Hamid

    2012-01-01

    on the performance measures and benchmarks adopted in M&A research field and the relevant empirical results. We find that the definitions of performance varied in terms of accounting, financial, operational and perceptual metrics. And performance assessment is sensitive to the definition of performance, methodology......Corporate mergers and acquisitions (M&As) have been increasing popular during these decades. However, a majority of research show failure rate (40% - 80%) has not significantly changed. This “success paradox” triggers us to reflect on performance assessment of M&As: how the performance of M...

  17. Mergers, Acquisitions, and Access: STM Publishing Today

    Science.gov (United States)

    Robertson, Kathleen

    Electronic publishing is changing the fundamentals of the entire printing/delivery/archive system that has served as the distribution mechanism for scientific research over the last century and a half. The merger-mania of the last 20 years, preprint pools, and publishers' licensing and journals-bundling plans are among the phenomena impacting the scientific information field. Science-Technology-Medical (STM) publishing is experiencing a period of intense consolidation and reorganization. This paper gives an overview of the economic factors fueling these trends, the major STM publishers, and the government regulatory bodies that referee this industry in Europe, Canada, and the USA.

  18. ROLE OF INTERNATIONAL MERGERS AND ACQUISITIONS IN CORPORATE INTEGRATION

    Directory of Open Access Journals (Sweden)

    Lucia P. BLĂJUȚ

    2015-04-01

    Full Text Available This paper highlights the role of international mergers and acquisitions in corporate integration. The factors that stimulate mergers and acquisitions activities bring real changes in the world economy. Mergers and acquisitions are a form of expansion: mergers can take place either as a statutory merger or consolidation and minority, majority or full acquisitions dominate the international market. It is very important to not confuse the meaning of the two terms. Multinational companies are forced by the competitive environment to adopt new strategies to penetrate a particular market and decrease the position of competition on global market or to counteract competitor action on the other market. Cross-border M and A is functionally classified in horizontal, vertical, concentric and conglomerate. The balance between these types of M and A has been changing over time and the distinction among these four categories is not always clear-cut.

  19. Impact of HMO mergers and acquisitions on financial performance.

    Science.gov (United States)

    Weech-Maldonado, Robert

    2002-01-01

    This study examines the effect of health maintenance organization (HMO) mergers and acquisitions on financial performance, as indicated by cash flow returns, profitability ratios, and efficiency indicators. Pooled, cross-sectional files of financial performance data were created for HMO mergers occurring in the period of 1988 to 1994. The study uses a time-series design involving the analysis of pre- and post-acquisition financial performance measured over a period of four years. Change scores for the industry-adjusted financial performance measures were calculated and then evaluated using t-tests. The study showed that HMO mergers had a positive effect on financial performance and efficiency. This effect disappeared, however, after adjusting for HMO industry returns. Potential synergies arising from HMO mergers have been largely illusory. Mergers may have been a result of non-value enhancing motives or management overconfidence.

  20. Energy mergers, acquisitions and trusts : no end in sight

    International Nuclear Information System (INIS)

    Shiry, J.

    1998-01-01

    An overview of Canadian export of natural gas to the U.S. and mergers in the Canadian gas industry was presented. Issues discussed included: (1) the Canadian role in U.S. gas markets, (2) growth, returns, and reinvestment rates in the Canadian gas industry, (3) current and historical mergers and acquisitions activity, (4) the driving forces of continued mergers, and (5) the role of trusts in mergers and acquisitions. It was stressed that the recent trend of energy industry mergers is reshaping the industry. Canadian gas producers are currently finding themselves in a high risk, low-return, capital intensive industry caught in a 10-year major growth trend driven by U.S. exports. Unfortunately, for the immediate future there is no end in sight. figs

  1. Merger Strategy, Cross-Cultural Involvement, and Polyphony

    DEFF Research Database (Denmark)

    Svane, Marita; Boje, David

    2014-01-01

    to the learning from the experience. By storytelling we mean the dynamic interplay between grander narratives of the past and more emergent living stories of participants. Living story is ontological in its Being-in-the-world, its aliveness primordially in lived-life from birth to death. In this case...... (Aristotle, 350 BCE: 1450b: 25, p. 233). Design: We present a dialogic performance of the cross-cultural dynamics of a merger. The context is a two-year old merger. The merger was strategically a good decision that takes into the consideration that the market is highly competitive with a decreasing number...... of customers and many competitors. The industry is therefore characterised by a high degree of mergers and acquisitions. Despite the strategic advantages the idea of the merger was not equally attractive to both of the organisations. They had a history of being competitors with a good deal of hostility. One...

  2. Energy mergers, acquisitions and trusts : no end in sight

    Energy Technology Data Exchange (ETDEWEB)

    Shiry, J. [Woodside Research Ltd., Calgary, AB (Canada)

    1998-08-01

    An overview of Canadian export of natural gas to the U.S. and mergers in the Canadian gas industry was presented. Issues discussed included: (1) the Canadian role in U.S. gas markets, (2) growth, returns, and reinvestment rates in the Canadian gas industry, (3) current and historical mergers and acquisitions activity, (4) the driving forces of continued mergers, and (5) the role of trusts in mergers and acquisitions. It was stressed that the recent trend of energy industry mergers is reshaping the industry. Canadian gas producers are currently finding themselves in a high risk, low-return, capital intensive industry caught in a 10-year major growth trend driven by U.S. exports. Unfortunately, for the immediate future there is no end in sight. figs.

  3. Tuberculosis Notification: Issues and Challenges

    Directory of Open Access Journals (Sweden)

    Manisha Nagpal

    2013-08-01

    Full Text Available Tuberculosis (TB is a major public health problem. An emerging menace in India is drug resistant forms of TB. In order to ensure proper TB diagnosis and case management, reduce TB transmission and address the problems of emergence of spread of Drug Resistant-TB, it is essential to have complete information of all TB cases. Therefore, Govt. of India declared Tuberculosis a notifiable disease on 7th May 2012. This paper highlights the fact that notification of TB in the absence of regulation of diagnostic practices, rational use of anti-TB medicines and availability of diagnostic and treatment facilities for drug-resistant TB will pose more problems rather than provide solutions to this problem.

  4. HUBBLE CAPTURES MERGER BETWEEN QUASAR AND GALAXY

    Science.gov (United States)

    2002-01-01

    This NASA Hubble Space Telescope image shows evidence fo r a merger between a quasar and a companion galaxy. This surprising result might require theorists to rethink their explanations for the nature of quasars, the most energetic objects in the universe. The bright central object is the quasar itself, located several billion light-years away. The two wisps on the (left) of the bright central object are remnants of a bright galaxy that have been disrupted by the mutual gravitational attraction between the quasar and the companion galaxy. This provides clear evidence for a merger between the two objects. Since their discovery in 1963, quasars (quasi-stellar objects) have been enigmatic because they emit prodigious amounts of energy from a very compact source. The most widely accepted model is that a quasar is powered by a supermassive black hole in the core of a galaxy. These new observations proved a challenge for theorists as no current models predict the complex quasar interactions unveiled by Hubble. The image was taken with the Wide Field Planetary Camera-2. Credit: John Bahcall, Institute for Advanced Study, NASA.

  5. Neutron Star Mergers and the R process

    Science.gov (United States)

    Joniak, Ronald; Ugalde, Claudio

    2017-09-01

    About half of the elements of the periodic table that are present today in the Solar System were synthesized before the formation of the Sun via a rapid neutron capture process (r process). However, the astrophysical site of the r process is a longstanding problem that has captivated both experimental and theoretical astrophysicists. Up to date, two possible scenarios for the site of the r process have been suggested: the first involves the high entropy wind of core collapse supernovae, and the second corresponds to the merger of two compact stellar objects such as neutron stars. We will study the robustness of the nucleosynthesis abundance pattern between the second and third r process peaks as produced by neutron star mergers with r process-like neutron exposures. First, we will vary parameters to obtain an understanding of the astrophysical mechanisms that create the r process. Next, we will create a program to obtain the best possible parameters based on a chi-squared test. Once we have the best fits, we will test the effect of fission in the overall isotope abundance pattern distribution. Later on, we will vary the ratio of masses of the two fission fragments and study its effect on elemental abundances. This research was supported by the UIC College of Liberal Arts and Sciences Undergraduate Research Initiative (LASURI).

  6. The galaxy major merger fraction to {z} 1

    Science.gov (United States)

    López-Sanjuan, C.; Balcells, M.; Pérez-González, P. G.; Barro, G.; García-Dabó, C. E.; Gallego, J.; Zamorano, J.

    2009-07-01

    Aims: The importance of disc-disc major mergers in galaxy evolution remains uncertain. We study the major merger fraction in a SPITZER/IRAC-selected catalogue in the GOODS-S field up to z 1 for luminosity- and mass-limited samples. Methods: We select disc-disc merger remnants on the basis of morphological asymmetries/distortions, and address three main sources of systematic errors: (i) we explicitly apply morphological K-corrections; (ii) we measure asymmetries in galaxies artificially redshifted to zd = 1.0 to deal with loss of morphological information with redshift; and (iii) we take into account the observational errors in z and A, which tend to overestimate the merger fraction, though use of maximum likelihood techniques. Results: We obtain morphological merger fractions (f_m^mph) below 0.06 up to z 1. Parameterizing the merger fraction evolution with redshift as f_m^mph(z) = f_m^mph(0) (1+z)^m, we find that m = 1.8 ± 0.5 for MB ≤ -20 galaxies, while m = 5.4 ± 0.4 for Mstar ≥ 1010 M⊙ galaxies. When we translate our merger fractions to merger rates (Re_m^mph), their evolution, parameterized as Re_m^mph(z) = Re_m^mph(0) (1+z)^n, is quite similar in both cases: n = 3.3 ± 0.8 for MB ≤ -20 galaxies, and n = 3.5 ± 0.4 for Mstar ≥ 1010 M⊙ galaxies. Conclusions: Our results imply that only 8% of today's Mstar ≥ 1010 M⊙ galaxies have undergone a disc-disc major merger since z 1. In addition, 21% of Mstar ≥ 1010 M⊙ galaxies at z 1 have undergone one of these mergers since z 1.5. This suggests that disc-disc major mergers are not the dominant process in the evolution of Mstar ≥ 1010 M⊙ galaxies since z 1, with only 0.2 disc-disc major mergers per galaxy, but may be an important process at z > 1, with ˜1 merger per galaxy at 1 < z < 3.

  7. 17 CFR 270.17a-8 - Mergers of affiliated companies.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Mergers of affiliated... (CONTINUED) RULES AND REGULATIONS, INVESTMENT COMPANY ACT OF 1940 § 270.17a-8 Mergers of affiliated companies. (a) Exemption of affiliated mergers. A Merger of a registered investment company (or a series thereof...

  8. 7 CFR 1717.159 - Applications for RUS approvals of mergers.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Applications for RUS approvals of mergers. 1717.159... ELECTRIC LOANS Mergers and Consolidations of Electric Borrowers § 1717.159 Applications for RUS approvals of mergers. If a proposed merger requires RUS approval according to RUS regulations and/or the loan...

  9. Galaxy Mergers from the Largest to the Smallest Scales: Introduction and Overview

    Science.gov (United States)

    Centrella, Joan

    2012-01-01

    Galaxy mergers encompass a wide range of astrophysical phenomena, including cosmological considerations, gas and stellar dynamics, AGN evolution, and mergers of the central SMBHs. Astrophysical signatures of galaxy mergers can be observed across most of the electromagnetic spectrum and through gravitational radiation. This talk provides an introduction and overview of the meeting, highlighting the key aspects of galaxy mergers from large to small scales.

  10. Economic and organizational determinants of HMO mergers and failures.

    Science.gov (United States)

    Feldman, R; Wholey, D; Christianson, J

    1996-01-01

    This study analyzed data from all operational health maintenance organizations (HMOs) in the United States from 1986 through 1993. Eighty HMOs disappeared through mergers and 149 failed over that period. We estimated a multinomial logit model to predict whether an HMO would merge and survive, merge and disappear, or fail, relative to the probability of no event. We found that enrollment and profitability play a critical role in explaining HMO mergers and failures: large and profitable HMOs were more likely to merge and survive, but less likely to merge and disappear or fail. These results explain why HMO merger and failure rates fell after 1988, as most surviving HMOs became larger and more profitable. Among several market-area variables in the model, state anti-takeover regulations had a negative impact on mergers. Mergers were more likely in markets with more competing HMOs, but the overall market penetration of HMOs had no effect on mergers. This result may have important implications for the current debate over the future of the competitive health care strategy. If public policy successfully stimulates the development of large numbers of new HMOs, another wave of mergers and failures is likely to occur. But it appears that growth in overall HMO penetration will not lead inevitably to increased market concentration.

  11. On the consequences of low-mass white dwarf mergers

    International Nuclear Information System (INIS)

    Iben, I. Jr.

    1990-01-01

    The theory of binary star evolution suggests that about 10 percent of all main-sequence binary systems should evolve into a close pair of light white dwarfs which merge within a Hubble time. This paper explores the consequences of such mergers on the assumption that a merger can be approximated by a mass-transfer event which occurs on a time scale shorter than that given by the Eddington accretion limit. The evolution of He + He mergers and of CO + He and of hybrid + He mergers are discussed. The birthrate of helium degenerate pairs which merge in less than a Hubble time is estimated, and the space density of low-luminosity merger products currently present in the Galaxy is predicted. It is shown that the evolutionary tracks of models of simulated mergers pass through the region in the H-R diagram occupied by subdwarfs, but that the predicted space density of merger products exceeds by over a factor of three the space density of subdwarf estimated form the known sample of such stars. 61 refs

  12. Single and simultaneous binary mergers in Wright-Fisher genealogies.

    Science.gov (United States)

    Melfi, Andrew; Viswanath, Divakar

    2018-05-01

    The Kingman coalescent is a commonly used model in genetics, which is often justified with reference to the Wright-Fisher (WF) model. Current proofs of convergence of WF and other models to the Kingman coalescent assume a constant sample size. However, sample sizes have become quite large in human genetics. Therefore, we develop a convergence theory that allows the sample size to increase with population size. If the haploid population size is N and the sample size is N 1∕3-ϵ , ϵ>0, we prove that Wright-Fisher genealogies involve at most a single binary merger in each generation with probability converging to 1 in the limit of large N. Single binary merger or no merger in each generation of the genealogy implies that the Kingman partition distribution is obtained exactly. If the sample size is N 1∕2-ϵ , Wright-Fisher genealogies may involve simultaneous binary mergers in a single generation but do not involve triple mergers in the large N limit. The asymptotic theory is verified using numerical calculations. Variable population sizes are handled algorithmically. It is found that even distant bottlenecks can increase the probability of triple mergers as well as simultaneous binary mergers in WF genealogies. Copyright © 2018 Elsevier Inc. All rights reserved.

  13. EUROPEAN CROSS-BORDER MERGERS AND ACQUISITIONS- REALITIES AND PERSPECTIVES

    Directory of Open Access Journals (Sweden)

    Vancea Mariana

    2011-07-01

    Full Text Available This paper analyses the impact of the economic and financial crisis on merger and acquisition activity in Europe and the latest trends manifested on the cross-border merger and acquisition market involving European companies. Thus, a first objective of this research is to reveal the evolution of the European cross-border merger and acquisition activity in terms of dynamics, volume and structure. Another objective of this research is to reveal the short and medium term perspectives on mergers and acquisitions in Europe. Thus, under the continuous economic recovery of the European countries and the other worldwide economies, the recovery of financial markets and the growth of corporate profits, we shall witness an intensive cross-border merger and acquisition activity in Europe. The expansion engine of these operations seems to be represented by the emerging economies. This research is based on a systematic, logical and comparative analysis of scientific literature and statistical data regarding the cross-border mergers and acquisitions that involve European companies in recent years. This paper is part of the doctoral thesis Mergers and acquisitions- strategies of growth and development of enterprises. European and national particularities, coordinated by professor Ph.D. Alina Bădulescu from University of Oradea, Faculty of Economics. The doctoral research is supported by The Sectorial Operational Program for Human Resources Development 2007-2013, Contract POSDRU 59/1.5/S/1- Romanian researchers through modern and efficient doctoral programs.

  14. Properties of Kilonovae from Dynamical and Post-merger Ejecta of Neutron Star Mergers

    Science.gov (United States)

    Tanaka, Masaomi; Kato, Daiji; Gaigalas, Gediminas; Rynkun, Pavel; Radžiūtė, Laima; Wanajo, Shinya; Sekiguchi, Yuichiro; Nakamura, Nobuyuki; Tanuma, Hajime; Murakami, Izumi; Sakaue, Hiroyuki A.

    2018-01-01

    Ejected material from neutron star mergers gives rise to electromagnetic emission powered by radioactive decays of r-process nuclei, the so-called kilonova or macronova. While properties of the emission are largely affected by opacities in the ejected material, available atomic data for r-process elements are still limited. We perform atomic structure calculations for r-process elements: Se (Z = 34), Ru (Z = 44), Te (Z = 52), Ba (Z = 56), Nd (Z = 60), and Er (Z = 68). We confirm that the opacities from bound–bound transitions of open f-shell, lanthanide elements (Nd and Er) are higher than those of the other elements over a wide wavelength range. The opacities of open s-shell (Ba), p-shell (Se and Te), and d-shell (Ru) elements are lower than those of open f-shell elements, and their transitions are concentrated in the ultraviolet and optical wavelengths. We show that the optical brightness can be different by > 2 mag depending on the element abundances in the ejecta such that post-merger, lanthanide-free ejecta produce brighter and bluer optical emission. Such blue emission from post-merger ejecta can be observed from the polar directions if the mass of the preceding dynamical ejecta in these regions is small. For the ejecta mass of 0.01 {M}ȯ , observed magnitudes of the blue emission will reach 21.0 mag (100 Mpc) and 22.5 mag (200 Mpc) in the g and r bands within a few days after the merger, which are detectable with 1 m or 2 m class telescopes.

  15. 50 CFR 660.411 - Notification and publication procedures.

    Science.gov (United States)

    2010-10-01

    ... 50 Wildlife and Fisheries 9 2010-10-01 2010-10-01 false Notification and publication procedures. 660.411 Section 660.411 Wildlife and Fisheries FISHERY CONSERVATION AND MANAGEMENT, NATIONAL OCEANIC... West Coast Salmon Fisheries § 660.411 Notification and publication procedures. (a) Notification and...

  16. 49 CFR 840.3 - Notification of railroad accidents.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 7 2010-10-01 2010-10-01 false Notification of railroad accidents. 840.3 Section... SAFETY BOARD RULES PERTAINING TO NOTIFICATION OF RAILROAD ACCIDENTS § 840.3 Notification of railroad accidents. The operator of a railroad shall notify the Board by telephoning the National Response Center at...

  17. 30 CFR 41.11 - Notification by operator.

    Science.gov (United States)

    2010-07-01

    ... ADMINISTRATIVE REQUIREMENTS NOTIFICATION OF LEGAL IDENTITY Notification of Legal Identity § 41.11 Notification by... of the legal identity of the operator in accordance with the applicable provisions of paragraph (b...) the Federal mine identification numbers of all other mines in which any corporate officer has a 20...

  18. Federal Information Security and Data Breach Notification Laws

    Science.gov (United States)

    2009-01-29

    The following report describes information security and data breach notification requirements included in the Privacy Act, the Federal Information...information for unauthorized purposes. Data breach notification laws typically require covered entities to implement a breach notification policy, and...Feinstein), S. 495 (Leahy), and S. 1178 (Inouye)--were reported favorably out of Senate committees. Those bills include information security and data

  19. Maximizing HIV partner notification opportunities for index patients ...

    African Journals Online (AJOL)

    that provider-assisted partner notification could potentially help clients with disclosure in relationships that would likely be under after (self-)disclosure of HIV status. This means, depending on the situation, provider-assisted partner notification and couple's counselling complement passive notification. This conditional view ...

  20. 28 CFR 73.5 - Termination of notification.

    Science.gov (United States)

    2010-07-01

    ... 28 Judicial Administration 2 2010-07-01 2010-07-01 false Termination of notification. 73.5 Section 73.5 Judicial Administration DEPARTMENT OF JUSTICE (CONTINUED) NOTIFICATIONS TO THE ATTORNEY GENERAL BY AGENTS OF FOREIGN GOVERNMENTS § 73.5 Termination of notification. (a) An agent shall, within 30...

  1. Parents' Perspectives on Parental Notification of College Students' Alcohol Use

    Science.gov (United States)

    Cosden, Merith; Hughes, Jennifer B.

    2012-01-01

    Although many colleges and universities use "parental notification" to inform parents of students' alcohol use, the impact of this intervention on student and parent behavior is unclear. Surveys were obtained from 326 parents of university undergraduates, 56 of whom had received a notification. Parent responses to the notification were…

  2. Merger of binary neutron stars: Gravitational waves and electromagnetic counterparts

    Energy Technology Data Exchange (ETDEWEB)

    Shibata, Masaru

    2016-12-15

    Late inspiral and merger phases of binary neutron stars are the valuable new experimental fields for exploring nuclear physics because (i) gravitational waves from them will bring information for the neutron-star equation of state and (ii) the matter ejected after the onset of the merger could be the main site for the r-process nucleosynthesis. We will summarize these aspects of the binary neutron stars, describing the current understanding for the merger process of binary neutron stars that has been revealed by numerical-relativity simulations.

  3. An Empirical Analysis of Post-Merger Organizational Integration

    DEFF Research Database (Denmark)

    Smeets, Valerie Anne Rolande; Ierulli, Kathryn; Gibbs, Michael

    2016-01-01

    existing establishments. Worker turnover is high after merger, but new hiring yields stable total employment. Target employees have higher turnover and reassignment, particularly if the target firm is small relative to the acquiring firm. These findings may suggest integration is costly, but can......We study post-merger organizational integration using linked employer-employee data. Integration is implemented by reassigning a small number of high skilled workers, especially in R&D and management. Workforce mixing is concentrated to establishments set up after merger rather than to previously...... be achieved by focusing on key employees. Alternatively, reassigning a few key employees is sufficient for achieving integration....

  4. Mergers and acquisitions in the international banking sector

    Directory of Open Access Journals (Sweden)

    Botis, S.

    2013-06-01

    Full Text Available The economic crisis emphasized the risks that banks assume and run. Reducing them is a strong reason for the acceleration of mergers and acquisitions in the international banking field. The merger of banking entities has established itself as a modern method of global credit risk management within every country and internationally. The main objective of this article is to highlight the latest developments on the bank mergers and acquisitions market in the U.S. and EU and on emerging market trends.

  5. GdF-Suez. The challenges of a merger

    International Nuclear Information System (INIS)

    Lepetit, V.

    2007-01-01

    After 18 months of stamping, the GdF-Suez merger is finally started. This operation will lead to the creation of a major actor of the European energy scene in particular for natural gas and LNG. This paper reviews the stakes of this merger in terms of employment and its impacts on energy prices and markets. One goal of this merger is to gain market shares in electricity and to compete with EdF (Electricite de France), the French electric utility. (J.S.)

  6. Mergers and acquisitions: new arrangements in health care. Part 1.

    Science.gov (United States)

    Grant, E A

    1988-02-01

    Mergers and acquisitions are assuming a more important role in the healthcare industry today. These transactions require various issues be considered, such as valuation, capital planning, and so forth. In this article, the first in a five-part series on mergers and acquisitions, the fundamental methods and techniques of valuation are discussed. Some of these valuation methods, including comparative market transactions and free cash flow, are explained and examples are used to help potential purchasers and sellers to determine an organization's true value. Other articles in this series will include legal issues, tax implications, purchase investigations, and capital planning for mergers and acquisitions.

  7. MAJOR-MERGER GALAXY PAIRS IN THE COSMOS FIELD—MASS-DEPENDENT MERGER RATE EVOLUTION SINCE z = 1

    International Nuclear Information System (INIS)

    Xu, C. Kevin; Zhao, Yinghe; Gao, Y.; Scoville, N.; Capak, P.; Drory, N.

    2012-01-01

    We present results of a statistical study of the cosmic evolution of the mass-dependent major-merger rate since z = 1. A stellar mass limited sample of close major-merger pairs (the CPAIR sample) was selected from the archive of the COSMOS survey. Pair fractions at different redshifts derived using the CPAIR sample and a local K-band-selected pair sample show no significant variations with stellar mass. The pair fraction exhibits moderately strong cosmic evolution, with the best-fitting function of f pair = 10 –1.88(±0.03) (1 + z) 2.2(±0.2) . The best-fitting function for the merger rate is R mg (Gyr –1 ) = 0.053 × (M star /10 10.7 M ☉ ) 0.3 (1 + z) 2.2 /(1 + z/8). This rate implies that galaxies of M star ∼ 10 10 -10 11.5 M ☉ have undergone ∼0.5-1.5 major mergers since z = 1. Our results show that, for massive galaxies (M star ≥ 10 10.5 M ☉ ) at z ≤ 1, major mergers involving star-forming galaxies (i.e., wet and mixed mergers) can account for the formation of both ellipticals and red quiescent galaxies (RQGs). On the other hand, major mergers cannot be responsible for the formation of most low mass ellipticals and RQGs of M star ∼ 10.3 M ☉ . Our quantitative estimates indicate that major mergers have significant impact on the stellar mass assembly of the most massive galaxies (M star ≥ 10 11.3 M ☉ ), but for less massive galaxies the stellar mass assembly is dominated by the star formation. Comparison with the mass-dependent (ultra)luminous infrared galaxies ((U)LIRG) rates suggests that the frequency of major-merger events is comparable to or higher than that of (U)LIRGs.

  8. Electromagnetic Counterparts to Black Hole Mergers

    Science.gov (United States)

    Schnittman, Jeremy D.

    2011-01-01

    During the final moments of a binary black hole (BH) merger, the gravitational wave (GW) luminosity of the system is greater than the combined electromagnetic (EM) output of the entire observable universe. However, the extremely weak coupling between GWs and ordinary matter makes these waves very difficult to detect directly. Fortunately, the inspirating BH system will interact strongly-on a purely Newtonian level-with any surrounding material in the host galaxy, and this matter can in turn produce unique EM signals detectable at Earth. By identifying EM counterparts to GW sources, we will be able to study the host environments of the merging BHs, in turn greatly expanding the scientific yield of a mission like LISA. Here we present a comprehensive review of the recent literature on the subject of EM counterparts, as well as a discussion of the theoretical and observational advances required to fully realize the scientific potential of the field.

  9. Managing mergers in the petroleum industry

    International Nuclear Information System (INIS)

    Swartout, H. B.

    1997-01-01

    The size and scope of various acquisitions by Precision Drilling Corporation over the last decade were examined from the point of view of the acquiror. Also examined were Precision Drilling's approach to acquisitions and the probable reasons for the Corporation's success in acquiring other companies. In a series of 15 acquisitions from 1985 to 1997, the company went from the initial three drilling rigs to 205 rigs and from $4.5 million in revenues in 1985 to $455 million in 1997. Knowing the drilling business and the customers' business, an informed assessment of the target company's long term potential, decisive action, efficient and knowledgeable negotiators able to assess what is driving the other side, and a flexible, creative approach to financing mergers, were identified as most responsible for the Corporation's success

  10. Analyzing and executing mergers and acquisitions.

    Science.gov (United States)

    Woodard, M A; Lindstrom, K

    1997-05-01

    Healthcare organization are consolidating at an unprecedented rate. With the number of mergers and acquisitions not likely to abate, healthcare organizations will need to become involved in strategic planning to manage the effects of this transaction activity and exert more control over the direction it will take. In particular, healthcare organizations need to know how to respond when their organizations are approached about a consolidation opportunity and how to determine whether a consolidation transaction would be strategically advantageous. Healthcare organizations can increase the chances that a consolidation will be successful by following six steps: performing a business inventory; determining the desire business profile; setting criteria for selecting a partner; identifying potential buyers and sellers; negotiating terms; and closing the transaction.

  11. Neutrino flavor evolution in neutron star mergers

    Science.gov (United States)

    Tian, James Y.; Patwardhan, Amol V.; Fuller, George M.

    2017-08-01

    We examine the flavor evolution of neutrinos emitted from the disklike remnant (hereafter called "neutrino disk") of a binary neutron star (BNS) merger. We specifically follow the neutrinos emitted from the center of the disk, along the polar axis perpendicular to the equatorial plane. We carried out two-flavor simulations using a variety of different possible initial neutrino luminosities and energy spectra and, for comparison, three-flavor simulations in specific cases. In all simulations, the normal neutrino mass hierarchy was used. The flavor evolution was found to be highly dependent on the initial neutrino luminosities and energy spectra; in particular, we found two broad classes of results depending on the sign of the initial net electron neutrino lepton number (i.e., the number of neutrinos minus the number of antineutrinos). In the antineutrino-dominated case, we found that the matter-neutrino resonance effect dominates, consistent with previous results, whereas in the neutrino-dominated case, a bipolar spectral swap develops. The neutrino-dominated conditions required for this latter result have been realized, e.g., in a BNS merger simulation that employs the "DD2" equation of state for neutron star matter [Phys. Rev. D 93, 044019 (2016), 10.1103/PhysRevD.93.044019]. For this case, in addition to the swap at low energies, a collective Mikheyev-Smirnov-Wolfenstein mechanism generates a high-energy electron neutrino tail. The enhanced population of high-energy electron neutrinos in this scenario could have implications for the prospects of r -process nucleosynthesis in the material ejected outside the plane of the neutrino disk.

  12. Black Hole Mergers, Gravitational Waves, and Multi-Messenger Astronomy

    Science.gov (United States)

    Centrella, Joan M.

    2010-01-01

    The final merger of two black holes is expected to be the strongest source of gravitational waves for both ground-based detectors such as LIGO and VIRGO, as well as the space-based LISA. Since the merger takes place in the regime of strong dynamical gravity, computing the resulting gravitational waveforms requires solving the full Einstein equations of general relativity on a computer. Although numerical codes designed to simulate black hole mergers were plagued for many years by a host of instabilities, recent breakthroughs have conquered these problems and opened up this field dramatically. This talk will focus on the resulting gold rush of new results that is revealing the dynamics and waveforms of binary black hole mergers, and their applications in gravitational wave detection, astrophysics, and testing general relativity.

  13. Black Hole Mergers and Gravitational Waves: Opening the New Frontier

    Science.gov (United States)

    Centrella, Joan

    2012-01-01

    The final merger of two black holes produces a powerful burst of gravitational waves, emitting more energy than all the stars in the observable universe combined. Since these mergers take place in the regime of strong dynamical gravity, computing the gravitational waveforms requires solving the full Einstein equations of general relativity on a computer. For more than 30 years, scientists tried to simulate these mergers using the methods of numerical relativity. The resulting computer codes were plagued by instabilities, causing them to crash well before the black holes in the binary could complete even a single orbit. In the past several years, this situation has changed dramatically, with a series of remarkable breakthroughs. This talk will highlight these breakthroughs and the resulting 'gold rush' of new results that is revealing the dynamics of binary black hole mergers, and their applications in gravitational wave detection, testing general relativity, and astrophysics.

  14. 76 FR 72823 - Voluntary Mergers of Federal Home Loan Banks

    Science.gov (United States)

    2011-11-28

    ... corporate law, disclosure practices that are required under the federal securities laws, and the approval standards required under federal banking laws relating to mergers of insured depository institutions. D...

  15. Mergers and acquisitions: some implications of cultural change.

    Science.gov (United States)

    Cavanaugh, S J

    1996-01-01

    A result of recent National Health Service reforms is the need to investigate, and possibly change, the culture of the professional working relationship between members of staff and their employer. This is particularly the case in situations of mergers and acquisitions where staff working from different cultural environments must work together. Mergers are becoming a feature of health service provision, perhaps this becomes most obvious with the recent moves by colleges of nursing and midwifery into the higher education sector and amalgamations of some purchasing authorities. Mergers highlight the practical issues of bringing together different organizational and work cultures to deliver a high quality service. This article discusses some aspects of the nature of organizational culture, the human impact of mergers and acquisitions and offers strategies for managing these events.

  16. Modeling the Complete Gravitational Wave Spectrum of Neutron Star Mergers.

    Science.gov (United States)

    Bernuzzi, Sebastiano; Dietrich, Tim; Nagar, Alessandro

    2015-08-28

    In the context of neutron star mergers, we study the gravitational wave spectrum of the merger remnant using numerical relativity simulations. Postmerger spectra are characterized by a main peak frequency f2 related to the particular structure and dynamics of the remnant hot hypermassive neutron star. We show that f(2) is correlated with the tidal coupling constant κ(2)^T that characterizes the binary tidal interactions during the late-inspiral merger. The relation f(2)(κ(2)^T) depends very weakly on the binary total mass, mass ratio, equation of state, and thermal effects. This observation opens up the possibility of developing a model of the gravitational spectrum of every merger unifying the late-inspiral and postmerger descriptions.

  17. Understanding Information Systems Integration Deficiencies in Mergers and Acquisitions

    DEFF Research Database (Denmark)

    Henningsson, Stefan; Kettinger, William J.

    2017-01-01

    Information systems (IS) integration is a critical challenge for value-creating mergers and acquisitions. Appropriate design and implementation of IS integration is typically a precondition for enabling a majority of the anticipated business benefits of a combined organization. Often...

  18. Modeling the Effects of Mergers in the Retail Sector

    DEFF Research Database (Denmark)

    Blomgren-Hansen, Niels

    2013-01-01

    the retail and wholesale markets is constructed, calibrated and simulated based on a concrete case (the acquisition and merger of 250 shops previously organized in a voluntary chain of shops comprising roughly half of the market for high-end cosmetics in Denmark). Model simulations predicts that the merger......According to EU competition law, mergers that significantly impedes effective competition, particularly by creating or strengthening a dominant position are prohibited. To identify these cases, authorities need a quantifiable model of the relationship between the variables that are affected...... by the merger and some measure of competition. Furthermore, the authorities must make their decision quickly, rendering deliberate data collection and econometric analyses infeasible in practice. The decision must be based on easily accessible data. In this paper, a simple model of the interaction between...

  19. The effects of union mergers and internal restructuring:

    DEFF Research Database (Denmark)

    Navrbjerg, Steen Erik; Larsen, Trine Pernille

    2016-01-01

    Trade union mergers and restructuring are often seen as strategy for union revitalisation and renewal and have been ongoing in the majority of European trade unions. This paper explores how recent union mergers and internal restructuring has affected unions service provision, union democracy...... and interest representation. This is analysed drawing on longitudinal data from two Danish shop steward surveys conducted in 1998 and 2010, comparing shop stewards in merged and non-merged unions respectively. The main results are that although it could be expected that union mergers and internal restructuring......, where union size and less so the union’s recent merger and restructuring history appears to affect shop stewards’ relations with their unions....

  20. Efficiency defense and administrative fuzziness in merger regulation

    Czech Academy of Sciences Publication Activity Database

    Medvedev, Andrei

    -, č. 234 (2004), s. 1-42 ISSN 1211-3298 Institutional research plan: CEZ:AV0Z7085904 Keywords : merger regulation * efficiency defense Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp234.pdf

  1. 7 CFR 1735.19 - Mergers and consolidations.

    Science.gov (United States)

    2010-01-01

    ... Basic Policies § 1735.19 Mergers and consolidations. RUS does not make loans for the sole purpose of... making loans to the telephone system to finance the improvement or extension of telephone service in...

  2. Mergers and Acquisitions By China's Petroleum and Chemical Companies

    Institute of Scientific and Technical Information of China (English)

    Peter Zong

    2007-01-01

    @@ In the world of mergers and acquisitions (M&A), deals by Asian players usually account for around 15% of the activity.In 2005 and 2006, however, this proportion increased and was estimated to be 18% - 20%.

  3. AN OVERVIEW ON THE DETERMINANTS OF MERGERS AND ACQUISITIONS WAVES

    Directory of Open Access Journals (Sweden)

    Vancea Mariana

    2012-12-01

    Full Text Available This paper concentrates on the presentation of the economic dimension of the mergers and acquisitions from a macroeconomic perspective. Thus, the objective of this paper is to reveal the main drivers of merger and acquisition activity. These operations take place in waves, which enters the context of changing the competition game marked by economic changes, technological evolutions, changes generated by the phenomenon of globalization, and by regulating changes. On the other side, a series of studies in the literature argue the existence of a connection between evaluating the securities and the merger and acquisition activity. This research is based on a systematic, logical and comparative analysis of scientific literature regarding the macroeconomic determinants of mergers and acquisitions.

  4. The Role of Occupational Identification During Post-Merger Integration.

    Science.gov (United States)

    Kroon, David P; Noorderhaven, Niels G

    2018-04-01

    Integration processes after mergers are fraught with difficulties, and constitute a main cause of merger failure. This study focuses on the human aspect of post-merger integration, and in particular, on the role of occupational identification. We theorize and empirically demonstrate by means of a survey design that employees' identification with their occupation is positively related to their willingness to cooperate in the post-merger integration process, over and above the effect of organization members' organizational identification. This positive effect of occupational identification is stronger for uniformed personnel but attenuates in the course of the integration process. Qualitative interviews further explore and interpret the results from our statistical analysis. Together, these findings have important practical implications and suggest future research directions.

  5. COMPANIES’ MERGERS AND AQUISITIONS AS A SOCIAL PROCESS: MODERN REALITIES

    Directory of Open Access Journals (Sweden)

    S. A. Barkov

    2017-01-01

    Full Text Available Mergers and acquisitions have become one of the main business strategies in the past decades. However, as the international experience indicates, the impact of mergers and acquisitions is rather ambiguous. On the one hand, mergers accelerate the evolution of organizations, strengthen their market positions and competitive advantages, create opportunities for the future development. On the other hand, mergers and acquisitions often lead to severe system crises, caused by various confrontations and risks. From the social and administrative point of view, mergers and acquisitions are commonly perceived as troublesome transformation processes instilling distrust and fear in the workers. Fear of the upcoming mergers is typical not only for ordinary employees, but also for senior management, who remains the most vulnerable unit in the M&A process. Mergers are considered as a stress and challenge for all the categories of employees. The employees realize the instability and the vulnerability of their current statuses, the limited ability to influence the situation and job insecurity. The uncertainty and fear lead to the employees’ resistance of different kinds, which eventually destroys the corporate unity, exacerbates the contradictions between various groups of employees and destabilizes the operation of companies. The authors assume that in the post-industrial age the employees’ perceptions of the merger processes can change and study the trends and factors which determine employees’ attitude towards mergers and acquisitions. Nowadays management strategies and the logic of administrative processes change radically, the structure of companies and the relationships in organizations networks undergo crucial transformations. The tendency to the democratization of organizations has received widespread recognition; companies become more flexible and are more frequently perceived and operate as open systems. The companies start to use the project

  6. Numerical Relativity, Black Hole Mergers, and Gravitational Waves: Part II

    Science.gov (United States)

    Centrella, Joan

    2012-01-01

    This series of 3 lectures will present recent developments in numerical relativity, and their applications to simulating black hole mergers and computing the resulting gravitational waveforms. In this second lecture, we focus on simulations of black hole binary mergers. We hig hlight the instabilities that plagued the codes for many years, the r ecent breakthroughs that led to the first accurate simulations, and the current state of the art.

  7. Imposed Change During Merger: Impact on Psychological Contract of employees

    OpenAIRE

    Mysore, Somashekar Sthaneshwar

    2008-01-01

    Acquisitions, amalgamation or mergers and change have been an ongoing part of the operational strategy of many organisations with the intention of achieving growth or rationalisation (Cartwright & cooper, 1992). Kavanagh and Ashkanasy (2006) have noted that amalgamation or mergers are highly complex events with a number of factors that can lead to success or failure and because they influence so many parts of the participating organisations in such fundamental ways. As such, amalgamation, mer...

  8. RECOILING MASSIVE BLACK HOLES IN GAS-RICH GALAXY MERGERS

    International Nuclear Information System (INIS)

    Guedes, Javiera; Madau, Piero; Mayer, Lucio; Callegari, Simone

    2011-01-01

    The asymmetric emission of gravitational waves produced during the coalescence of a massive black hole (MBH) binary imparts a velocity 'kick' to the system that can displace the hole from the center of its host. Here, we study the trajectories and observability of MBHs recoiling in three (one major, two minor) gas-rich galaxy merger remnants that were previously simulated at high resolution, and in which the pairing of the MBHs had been shown to be successful. We run new simulations of MBHs recoiling in the major merger remnant with Mach numbers in the range 1≤M≤6 and use simulation data to construct a semi-analytical model for the orbital evolution of MBHs in gas-rich systems. We show the following. (1) In major merger remnants the energy deposited by the moving hole into the rotationally supported, turbulent medium makes a negligible contribution to the thermodynamics of the gas. This contribution becomes significant in minor merger remnants, potentially allowing for an electromagnetic signature of MBH recoil. (2) In major merger remnants, the combination of both deeper central potential well and drag from high-density gas confines even MBHs with kick velocities as high as 1200 km s -1 within 1 kpc from the host's center. (3) Kinematically offset nuclei may be observable for timescales of a few Myr in major merger remnants in the case of recoil velocities in the range 700-1000 km s -1 . (4) In minor merger remnants the effect of gas drag is weaker, and MBHs with recoil speeds in the range 300-600 km s -1 will wander through the host halo for longer timescales. When accounting for the probability distribution of kick velocities, however, we find that the likelihood of observing recoiling MBHs in gas-rich galaxy mergers is very low even in the best-case scenario.

  9. The failing firm defence: merger policy and entry

    OpenAIRE

    Mason, Robin; Weeds, Helen

    2003-01-01

    This Paper considers the 'failing firm defence'. Under this principle, found in most antitrust jurisdictions, a merger that would otherwise be blocked due to its adverse effect on competition is permitted when the firm to be acquired is a failing firm, and an alternative, less detrimental merger is unavailable. Competition authorities have shown considerable reluctance to accept the failing firm defence, and it has been successfully used in just a handful of cases. The Paper considers the def...

  10. Evaluating mergers and acquisitions with a purchase investigation.

    Science.gov (United States)

    Grant, E A; Giniat, E J

    1988-04-01

    Mergers and acquisitions are risk transactions. Therefore, a well-planned and executed purchase investigation that considers financial, personnel, legal and risk management, third-party payer, and medical staff issues is imperative. Organizations that can successfully complete a purchase investigation will be able to make better informed, lower risk, financial decisions, and will have a competitive advantage in achieving strategic goals. This article is the third in a series on mergers and acquisitions. Other articles will include legal issues and capital planning.

  11. Mergers and acquisitions in the natural gas industry

    Energy Technology Data Exchange (ETDEWEB)

    Burkhardt, D.A.; Brown, M.L.

    1984-04-26

    Three examples of natural gas distribution companies involved in merger activity illustrate how the distribution as well as the transmission side of the industry may be attractive to potential acquiring companies seeking diversification. Although the mergers are a new phenonmenon, the acquiring firms are attracted by the overlapping service areas and the operating efficiency of the regulated distributors. They also see a possible outlet for surplus natural gas. 1 table.

  12. Electric utility mergers and acquisitions seen in a larger perspective

    Energy Technology Data Exchange (ETDEWEB)

    Hawes, D.W.

    1995-10-01

    Merger negotiations are intricate and sensitive dances which, far more often than not, may end in failure. The famed prediction of {open_quotes}50 in five{close_quotes} may prove correct - though it may be 50 utilities in 2005. Still, mergers are only a partial hedge against what may, after all, be 10 years of better prices for customers and tougher times for shareholders.

  13. Merger and Industrial Acceleration: Study at Indonesian Islamic Banking Industry

    Directory of Open Access Journals (Sweden)

    Kindy Miftah

    2017-02-01

    Full Text Available The purpose of this research tries to feed the alternatives of merger between Islamic banks which becomes a form of recommendation to optimize the merger result, so it will contribute to the development of Indonesia’s banking sector in particular. Methodolgy of this study is using comparison technique utilize result of calculation valuation based on valuation theory in general with method discounted cash flaw (DCF. Valuation data processing using data past performance sharia banks is to plan future financial performance. Results of valuation will be conducted both with individual banks that will be merged and alternative merger determined. These findings implied from various possibility alternative mergers between sharia banks, there are 5 alternatives that are feasible considering the internal aspect such as tendency shareholder and condition sharia bank to be merged related to internal interest and external aspect namely scale of assets from merger banks and probability success from merger process.DOI:  10.15408/sjie.v6i1.4728

  14. 38 CFR 75.117 - Notification.

    Science.gov (United States)

    2010-07-01

    ... information that were involved in the data breach (e.g., full name, Social Security number, date of birth... protect themselves from the risk of identity theft, including steps to obtain fraud alerts (alerts of any... conspicuous posting on the home page of VA's Web site and notification in major print and broadcast media...

  15. 40 CFR 57.815 - State notification.

    Science.gov (United States)

    2010-07-01

    ....815 Protection of Environment ENVIRONMENTAL PROTECTION AGENCY (CONTINUED) AIR PROGRAMS (CONTINUED... Technology § 57.815 State notification. The Administrator shall give notice of the final decision in writing to the air pollution control agency of the State in which the smelter is located. ...

  16. 47 CFR 64.1603 - Customer notification.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 3 2010-10-01 2010-10-01 false Customer notification. 64.1603 Section 64.1603 Telecommunication FEDERAL COMMUNICATIONS COMMISSION (CONTINUED) COMMON CARRIER SERVICES (CONTINUED) MISCELLANEOUS RULES RELATING TO COMMON CARRIERS Calling Party Telephone Number; Privacy § 64.1603 Customer...

  17. 48 CFR 245.7308 - Antitrust notification.

    Science.gov (United States)

    2010-10-01

    ... action would tend to create or maintain a situation inconsistent with the antitrust laws. (c) If the Attorney General advises that the proposed disposition is inconsistent with the antitrust laws, do not... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Antitrust notification...

  18. 29 CFR 20.107 - Debtor notification.

    Science.gov (United States)

    2010-07-01

    ... notification. (a) The agency head (or designee) of the creditor Labor Department agency shall send appropriate..., agencies should give due regard to the need to act promptly so the ability to refer a debt for tax refund... make a reasonable attempt to notify the debtor by using the most recent address information obtained...

  19. 32 CFR 989.24 - Public notification.

    Science.gov (United States)

    2010-07-01

    ... of possible notification methods in 40 CFR 1506.6(b)(3) is only illustrative. The EPF may use other... Force actions are of limited interest to persons or organizations outside the Air Force, the EPF may... with EPF funds an advertisement in a prominent section of the local newspaper(s) of general circulation...

  20. 40 CFR 97.73 - Notifications.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 20 2010-07-01 2010-07-01 false Notifications. 97.73 Section 97.73 Protection of Environment ENVIRONMENTAL PROTECTION AGENCY (CONTINUED) AIR PROGRAMS (CONTINUED) FEDERAL NOX BUDGET TRADING PROGRAM AND CAIR NOX AND SO2 TRADING PROGRAMS Monitoring and Reporting § 97.73...

  1. 7 CFR 1400.402 - Notification.

    Science.gov (United States)

    2010-01-01

    ... social security number or taxpayer identification number of such a person or legal entity, if known, and... SUBSEQUENT CROP, PROGRAM, OR FISCAL YEARS Foreign Persons § 1400.402 Notification. (a) Any legal entity... legal entity conducts its farming operation if: (1) Any person, group of persons, legal entity, or group...

  2. Integrated delivery systems: mergers and acquisitions.

    Science.gov (United States)

    Pinkerton, S

    1999-01-01

    Mergers and acquisitions are usually the way an IDS is built. The CNO and/or CNOs/DONs have an integral role in the resolution of the M/A process. During this time of significant change, during which there may even be chaos, the CNOs work to maintain stability so there is as little impact as possible on patient outcomes, a core responsibility of the CNOs. The CNOs should focus on identifying and working with the highly skilled individuals in the organization to get to the recovery stage of the M/A process, at which time a high-performing organization is achieved. To build this new organization or IDS, the old organizations of the M/A must be changed (Moss Kanter, 1994). The successful CNOs will manage the trade-offs and will become experts in collaboration. The CNO's goals are to maximize the quality of patient care, the professional satisfaction of the nurse, and the goals of achieving cost effectiveness for the system (Clifford, 1998), and keeping this focus through the M/A process will yield success.

  3. Making operational sense of mergers and acquisitions

    Energy Technology Data Exchange (ETDEWEB)

    Anderson, J.E.

    1999-09-01

    Mergers and acquisitions place a new requirement on many utilities. Not only must they be operationally efficient, but they must also be able to effectively manage internal change projects that results in the integration of new and acquired businesses. Evidence from US industry suggests that this is not an easy feat. However, careful planning of integration strategy, as well as taking the proper steps to design, develop, and implement integrated overhead functions, contribute significantly to successful M and A. Fundamentally, this means choosing the right integration organizational structure, picking the right overhead functions for integration, developing complete plans for integration, and thoroughly executing those plans. For the many utilities that are attempting to develop shared services operations, a number of specific steps can be taken to avoid common pitfalls. Key among these is to develop plans in a manner very similar to the establishment of new ventures. Communicating these efforts to the affected staff and garnering executive buy-in are key aspects of the change effort. Ultimately, utilities must track the impacts of these change efforts in cost savings and service quality improvements.

  4. The cosmic merger rate of neutron stars and black holes

    Science.gov (United States)

    Mapelli, Michela; Giacobbo, Nicola

    2018-06-01

    Six gravitational wave detections have been reported so far, providing crucial insights on the merger rate of double compact objects. We investigate the cosmic merger rate of double neutron stars (DNSs), neutron star-black hole binaries (NSBHs) and black hole binaries (BHBs) by means of population-synthesis simulations coupled with the Illustris cosmological simulation. We have performed six different simulations, considering different assumptions for the efficiency of common envelope (CE) ejection and exploring two distributions for the supernova (SN) kicks. The current BHB merger rate derived from our simulations spans from ˜150 to ˜240 Gpc-3 yr-1 and is only mildly dependent on CE efficiency. In contrast, the current merger rates of DNSs (ranging from ˜20 to ˜600 Gpc-3 yr-1) and NSBHs (ranging from ˜10 to ˜100 Gpc-3 yr-1) strongly depend on the assumptions on CE and natal kicks. The merger rate of DNSs is consistent with the one inferred from the detection of GW170817 only if a high efficiency of CE ejection and low SN kicks (drawn from a Maxwellian distribution with one dimensional root mean square σ = 15 km s-1) are assumed.

  5. Observing Mergers of Non-Spinning Black-Hole Binaries

    Science.gov (United States)

    McWilliams, Sean T.; Boggs, William D.; Baker, John G.; Kelly, Bernard J.

    2010-01-01

    Advances in the field of numerical relativity now make it possible to calculate the final, most powerful merger phase of binary black-hole coalescence for generic binaries. The state of the art has advanced well beyond the equal-mass case into the unequal-mass and spinning regions of parameter space. We present a study of the nonspinning portion of parameter space, primarily using an analytic waveform model tuned to available numerical data, with an emphasis on observational implications. We investigate the impact of varied m8BS ratio on merger signal-to-noise ratios (SNR) for several detectors, and compare our results with expectations from the test-mass limit. We note a striking similarity of the waveform phasing of the merger waveform across the available mass ratios. Motivated by this, we calculate the match between our equal-mass and 4:1 mass-ratio waveforms during the merger as a function of location on the source sky, using a new formalism for the match that accounts for higher harmonics. This is an indicator of the amount of degeneracy in mass ratio for mergers of moderate mass ratio systems.

  6. THE MAIN OPERATIONS OF REORGANIZATION THROUGH MERGERS OF TRADING COMPANIES

    Directory of Open Access Journals (Sweden)

    Alexandra-Gabriela Rolea

    2013-11-01

    Full Text Available Notwithstanding the optimistic forecasts issued by experts a couple of years ago, the economic predicaments of the European Union’s member states, including Romania, are far from being settled. The extension of the economic and financial dowturn, the continuing process of globalization and the financial markets’ volatility have imposed an unparalleled flexibility upon the economic agents, in that the amount of mergers and acquisitions has risen at a both national and international level. This background calls for a detailed but nonetheless approachable study of the reorganization of the trading companies though mergers, aimed mainly at the business environment. In order to reach the aforementioned objectives, the theoretical endeavor seeks to explore the relevant legal provisions, including the European Directives. The juridical and accounting operations of mergers, their legal consequences and concrete implications on the activity of the trading companies will also be analysed. Some particular approaches embraced by the legal practice are to be presented, as in Romania mergers are submitted to the control of the court. The study will have a positive impact on the economic agents, who are fostered to conclude this type of restructuring, by altering the line of thought shaped a few years ago, according to which mergers are difficult, isolated and sometimes even unacceptable operations.

  7. Specification of merger gains in the Norwegian electricity distribution industry

    International Nuclear Information System (INIS)

    Saastamoinen, Antti; Bjørndal, Endre; Bjørndal, Mette

    2017-01-01

    Electricity distribution often exhibits economies of scale. In Norway, a number of smaller distribution system operators exist and thus there is potential to restructure the industry, possibly through mergers. However, the revenue cap regulatory model in Norway does not incentivize firms to merge as merging leads to a stricter revenue cap for the merged company. Thus the regulator compensates the firms in order to create such incentives. The amount of compensation is based on the potential gains of the merger estimated using a data envelopment analysis (DEA) based frontier approach introduced by Bogetoft and Wang (2005). DEA is however only one of many possible frontier estimators that can be used in estimation. Furthermore, the returns to scale assumption, the operating environment of firms and the presence of stochastic noise and outlier observations are all known to affect to the estimation of production technology. In this paper we explore how varying assumptions under two alternative frontier estimators shape the distribution of merger gains within the Norwegian distribution industry. Our results reveal that the restructuring policies of the industry may be significantly altered depending how potential gains from the mergers are estimated. - Highlights: • The merger gains of Norwegian electricity distribution firm are investigated. • Different estimators and model specifications are applied. • Results show that the gains are significantly affected by the model choice. • Incentives to merge may be shaped through the estimation of gains.

  8. Signatures of Heavy Element Production in Neutron Star Mergers

    Science.gov (United States)

    Barnes, Jennifer

    2018-06-01

    Compact object mergers involving at least one neutron star have long been theorized to be sites of astrophysical nucleosynthesis via rapid neutron capture (the r-process). The observation in light and gravitational waves of the first neutron star merger (GW1701817) this past summer provided a stunning confirmation of this theory. Electromagnetic emission powered by the radioactive decay of freshly synthesized nuclei from mergers encodes information about the composition burned by the r-process, including whether a particular merger event synthesized the heaviest nuclei along the r-process path, or froze out at lower mass number. However, efforts to model the emission in detail must still contend with many uncertainties. For instance, the uncertain nuclear masses far from the valley of stability influence the final composition burned by the r-process, as will weak interactions operating in the merger’s immediate aftermath. This in turn can affect the color electromagnetic emission. Understanding the details of these transients’ spectra will also require a detailed accounting the electronic transitions of r-process elements and ions, in order to identify the strong transitions that underlie spectral formation. This talk will provide an overview of our current understanding of radioactive transients from mergers, with an emphasis on the role of experiment in providing critical inputs for models and reducing uncertainty.

  9. A comprehensive, holistic people integration process for mergers and acquisitions

    Directory of Open Access Journals (Sweden)

    Rina P. Steynberg

    2011-03-01

    Research purpose: To develop and validate a comprehensive, holistic model for the people integration process during mergers and acquisitions. Motivation for the study: The literature on a comprehensive, holistic people integration process for mergers and acquisitions is sparse and fragmented. Research design, approach and method: A qualitative approach was adopted consisting of a three step process which solicited the views of seasoned M&A Practioners; these views were compared against the available literature. Finally, practioners were asked to critique the final model from a practice perspective. The utility of the final model was assessed against two mergers and acquisitions case studies. Main findings: A comprehensive, holistic people integration process model for mergers and acquisitions was developed and validated. However, this model will only significantly enhance mergers and acquisitions value realisation if it is applied from the appropriate vantage point. Practical/managerial implications: The proposed approach will increase the probability of a successful M&A people-wise and M&A value realisation. Contribution/value add: Theoretically, the development and validation of a M&A people process integration model; practically, guidelines for successful people integration; organisationally, significantly enhancing the chances of M&A success; and community wise, the reduction of the negative effects of M&A failure on communities.

  10. University Merger Reforms: Rational, political, institutional or incidental processes? The case of Denmark

    DEFF Research Database (Denmark)

    Aagaard, Kurt; Hansen, Hanne Foss; Rasmussen, Jørgen Gulddahl

    Mergers have for some years been popular within the public sector in many countries this includes mergers between higher education institutions. In the Danish university and Government Research Institutions sector a process of merger took place in 2006. ‘University merger reforms’ is an analysis ...... on an organizational level demands the use of more than one conceptual model for agenda-setting - decision making and institutional restructuring,......-sector and some of the conclusions made from other kinds of merger studies. Important conclusions of the study of the three universities are that mergers and especially post-mergers processes are much more than linear, straight forward rational processes and that understanding merger processes...

  11. A Marketing Perspective on Mergers and Acquisitions : How Marketing Integration Affects Postmerger Performance

    OpenAIRE

    Homburg, Christian; Bucerius, Matthias

    2004-01-01

    Previous research on mergers and acquisitions (M&A) has neglected marketing issues by and large. This paper examines the effects of post merger integration (PMI) in marketing (ex tent and speed of marketing integration) on M&A performance mediated by integration outcomes (magnitude of cost savings and market-related performance). Results from a survey of 232 horizontal mergers and acquisitions show that market-related performance after the merger or acquisition has a much stronger impac...

  12. Does Merger Simulation Work? A "Natural Experiment" in the Swedish Analgesics Market Market

    OpenAIRE

    Björnerstedt, Jonas; Verboven, Frank

    2012-01-01

    We exploit a natural experiment associated with a large merger in the Swedish market for analgesics (painkillers). We confront the predictions from a merger simulation study, as conducted during the investigation, with the actual merger effects over a two-year comparison window. The merger simulation model is based on a constant expenditures specification for the nested logit model (as an alternative to the typical unit demand specification). The model predicts a large price increase of 34% b...

  13. Quantifying the impact of mergers on the angular momentum of simulated galaxies

    Science.gov (United States)

    Lagos, Claudia del P.; Stevens, Adam R. H.; Bower, Richard G.; Davis, Timothy A.; Contreras, Sergio; Padilla, Nelson D.; Obreschkow, Danail; Croton, Darren; Trayford, James W.; Welker, Charlotte; Theuns, Tom

    2018-02-01

    We use EAGLE to quantify the effect galaxy mergers have on the stellar specific angular momentum of galaxies, jstars. We split mergers into dry (gas-poor)/wet (gas-rich), major/minor and different spin alignments and orbital parameters. Wet (dry) mergers have an average neutral gas-to-stellar mass ratio of 1.1 (0.02), while major (minor) mergers are those with stellar mass ratios ≥0.3 (0.1-0.3). We correlate the positions of galaxies in the jstars-stellar mass plane at z = 0 with their merger history, and find that galaxies of low spins suffered dry mergers, while galaxies of normal/high spins suffered predominantly wet mergers, if any. The radial jstars profiles of galaxies that went through dry mergers are deficient by ≈0.3 dex at r ≲ 10 r50 (with r50 being the half-stellar mass radius), compared to galaxies that went through wet mergers. Studying the merger remnants reveals that dry mergers reduce jstars by ≈30 per cent, while wet mergers increase it by ≈10 per cent, on average. The latter is connected to the build-up of the bulge by newly formed stars of high rotational speed. Moving from minor to major mergers accentuates these effects. When the spin vectors of the galaxies prior to the dry merger are misaligned, jstars decreases by a greater magnitude, while in wet mergers corotation and high orbital angular momentum efficiently spun-up galaxies. We predict what would be the observational signatures in the jstars profiles driven by dry mergers: (i) shallow radial profiles and (ii) profiles that rise beyond ≈10 r50, both of which are significantly different from spiral galaxies.

  14. Hydrodynamic evolution of neutron star merger remnants

    Science.gov (United States)

    Liu, Men-Quan; Zhang, Jie

    2017-11-01

    Based on the special relativistic hydrodynamic equations and updated cooling function, we investigate the long-term evolution of neutron stars merger (NSM) remnants by a one-dimensional hydrodynamic code. Three NSM models from one soft equation of state, SFHo, and two stiff equations of state, DD2 and TM1, are used to compare their influences on the hydrodynamic evolution of remnants. We present the luminosity, mass and radius of remnants, as well as the velocity, temperature and density of shocks. For a typical interstellar medium (ISM) density with solar metallicity, we find that the NSM remnant from the SFHo model makes much more changes to ISM in terms of velocity, density and temperature distributions, compared with the case of DD2 and TM1 models. The maximal luminosity of the NSM remnant from the SFHo model is 3.4 × 1038 erg s-1, which is several times larger than that from DD2 and TM1 models. The NSM remnant from the SFHo model can maintain high luminosity (>1038 erg s-1) for 2.29 × 104 yr. Furthermore, the density and temperature of remnants at the maximal luminosity are not sensitive to the power of the original remnant. For the ISM with the solar metallicity and nH = 1 cm- 3, the density of the first shock ∼10-23 g cm-3 and the temperature ∼3 × 105 K in the maximal luminosity phase; The temperature of the first shock decreases and there is a thin 'dense' shell with density ∼10-21 g cm-3 after the maximal luminosity. These characteristics may be helpful for future observations of NSM remnants.

  15. BRIGHT 'MERGER-NOVA' FROM THE REMNANT OF A NEUTRON STAR BINARY MERGER: A SIGNATURE OF A NEWLY BORN, MASSIVE, MILLISECOND MAGNETAR

    International Nuclear Information System (INIS)

    Yu, Yun-Wei; Zhang, Bing; Gao, He

    2013-01-01

    A massive millisecond magnetar may survive the merger of a neutron star (NS) binary, which would continuously power the merger ejecta. We develop a generic dynamic model for the merger ejecta with energy injection from the central magnetar. The ejecta emission (the m erger-nova ) powered by the magnetar peaks in the UV band and the peak of the light curve, progressively shifts to an earlier epoch with increasing frequency. A magnetar-powered merger-nova could have an optical peak brightness comparable to a supernova, which is a few tens or hundreds times brighter than the radioactive-powered merger-novae (the so-called macro-nova or kilo-nova). On the other hand, such a merger-nova would peak earlier and have a significantly shorter duration than that of a supernova. An early collapse of the magnetar could suppress the brightness of the optical emission and shorten its duration. Such millisecond-magnetar-powered merger-novae may be detected from NS-NS merger events without an observed short gamma-ray burst, and could be a bright electromagnetic counterpart for gravitational wave bursts due to NS-NS mergers. If detected, it suggests that the merger leaves behind a massive NS, which has important implications for the equation-of-state of nuclear matter

  16. Implications of mergers and acquisitions in gas and electric markets: The role of yardstick competition in merger analysis

    International Nuclear Information System (INIS)

    Reiter, H.L.

    1999-01-01

    There has been no shortage of proposed and consummated mergers of regulated utilities in the electric, natural gas, and telecommunication industries over the last decade. For example, the National Rural Electric Cooperative Association states that there have been thirty electric utility mergers since 1992 and dozens of so-called convergence mergers between electric and gas utilities during that period. Yardstick competition or the competition that occurs when the regulator can compare the relative performances of utilities it regulates with other utilities it regulates or with neighboring utilities in other jurisdictions, places pressure on the regulated utilities to perform better for fear of coming up short in the comparison process. There are three important questions regulators may ask about the importance of yardstick competition as regulatory tool and the weight regulators should give to diminution of yardstick competition in the merger context. First, does it make that much difference? In the electric industry, for example, distribution costs typically comprise less than ten percent of the delivered price of electricity. Second, to preserve theoretical yardstick competition, are regulators then going to block mergers that bring other efficiencies? And finally, are there sound tools at the regulators' disposal should they be inclined to take yardstick competition seriously as a factor in regulation of utilities?

  17. Implications of mergers and acquisitions in gas and electric markets: The role of yardstick competition in merger analysis

    Energy Technology Data Exchange (ETDEWEB)

    Reiter, H.L.

    1999-06-30

    There has been no shortage of proposed and consummated mergers of regulated utilities in the electric, natural gas, and telecommunication industries over the last decade. For example, the National Rural Electric Cooperative Association states that there have been thirty electric utility mergers since 1992 and dozens of so-called convergence mergers between electric and gas utilities during that period. Yardstick competition or the competition that occurs when the regulator can compare the relative performances of utilities it regulates with other utilities it regulates or with neighboring utilities in other jurisdictions, places pressure on the regulated utilities to perform better for fear of coming up short in the comparison process. There are three important questions regulators may ask about the importance of yardstick competition as regulatory tool and the weight regulators should give to diminution of yardstick competition in the merger context. First, does it make that much difference? In the electric industry, for example, distribution costs typically comprise less than ten percent of the delivered price of electricity. Second, to preserve theoretical yardstick competition, are regulators then going to block mergers that bring other efficiencies? And finally, are there sound tools at the regulators' disposal should they be inclined to take yardstick competition seriously as a factor in regulation of utilities?

  18. Astrophysics of Super-Massive Black Hole Mergers

    Science.gov (United States)

    Schnittman, Jeremy D.

    2013-01-01

    We present here an overview of recent work in the subject of astrophysical manifestations of super-massive black hole (SMBH) mergers. This is a field that has been traditionally driven by theoretical work, but in recent years has also generated a great deal of interest and excitement in the observational astronomy community. In particular, the electromagnetic (EM) counterparts to SMBH mergers provide the means to detect and characterize these highly energetic events at cosmological distances, even in the absence of a space-based gravitational-wave observatory. In addition to providing a mechanism for observing SMBH mergers, EM counterparts also give important information about the environments in which these remarkable events take place, thus teaching us about the mechanisms through which galaxies form and evolve symbiotically with their central black holes.

  19. Employer-provided health insurance and hospital mergers.

    Science.gov (United States)

    Garmon, Christopher

    2013-07-01

    This paper explores the impact of employer-provided health insurance on hospital competition and hospital mergers. Under employer-provided health insurance, employer executives act as agents for their employees in selecting health insurance options for their firm. The paper investigates whether a merger of hospitals favored by executives will result in a larger price increase than a merger of competing hospitals elsewhere. This is found to be the case even when the executive has the same opportunity cost of travel as her employees and even when the executive is the sole owner of the firm, retaining all profits. This is consistent with the Federal Trade Commission's findings in its challenge of Evanston Northwestern Healthcare's acquisition of Highland Park Hospital. Implications of the model are further tested with executive location data and hospital data from Florida and Texas.

  20. A Framework for Understanding Post-Merger Information Systems Integration

    DEFF Research Database (Denmark)

    Alaranta, Maria; Kautz, Karlheinz

    2012-01-01

    This paper develops a theoretical framework for the integration of information systems (IS) after a merger or an acquisition. The framework integrates three perspectives: a structuralist, an individualist, and an interactive process perspective to analyze and understand such integrations....... The framework is applied to a longitudinal case study of a manufacturing company that grew through an acquisition. The management decided to integrate the production control IS via tailoring a new system that blends together features of existing IS. The application of the framework in the case study confirms...... several known impediments to IS integrations. It also identifies a number of new inhibitors, as well as known and new facilitators that can bring post-merger IS integration to a success. Our findings provide relevant insights to researching and managing post-merger IS integrations. They emphasize...

  1. Managing Key Risks in Post-Merger IS Integration

    DEFF Research Database (Denmark)

    Alaranta, Mar; Mathiassen, L

    2014-01-01

    Mergers and acquisitions (M&A) require organizations to blend together different information system (IS) configurations. Unfortunately, less than 50 percent of M&A's achieve their goals, with IS integration being a major problem. Here, the authors offer a framework to help managers prepare for......, analyze, and mitigate risks during post-merger IS integration. They identify key risks relating to IS integration content, process, and context, and present five strategies for mitigating those risks. Their framework aims to help managers proactively reduce the impact of adverse events. Adopting...... the framework supported by their templates is straightforward and the time and resources required are minimal. When properly executed, adoption increases the likelihood of successful merger outcomes; the framework is thus a valuable addition to the management tool box and can be applied in collaboration...

  2. SHOCKING TAILS IN THE MAJOR MERGER ABELL 2744

    Energy Technology Data Exchange (ETDEWEB)

    Owers, Matt S.; Couch, Warrick J. [Center for Astrophysics and Supercomputing, Swinburne University of Technology, Hawthorn, VIC 3122 (Australia); Nulsen, Paul E. J.; Randall, Scott W., E-mail: mowers@aao.gov.au [Harvard Smithsonian Center for Astrophysics, 60 Garden Street, Cambridge, MA 02138 (United States)

    2012-05-01

    We identify four rare 'jellyfish' galaxies in Hubble Space Telescope imagery of the major merger cluster Abell 2744. These galaxies harbor trails of star-forming knots and filaments which have formed in situ in gas tails stripped from the parent galaxies, indicating they are in the process of being transformed by the environment. Further evidence for rapid transformation in these galaxies comes from their optical spectra, which reveal starburst, poststarburst, and active galactic nucleus features. Most intriguingly, three of the jellyfish galaxies lie near intracluster medium features associated with a merging 'Bullet-like' subcluster and its shock front detected in Chandra X-ray images. We suggest that the high-pressure merger environment may be responsible for the star formation in the gaseous tails. This provides observational evidence for the rapid transformation of galaxies during the violent core passage phase of a major cluster merger.

  3. Towards a Novel Conceptual Framework for Understanding Mergers in Higher Education

    Science.gov (United States)

    Cai, Yuzhuo; Pinheiro, Rómulo; Geschwind, Lars; Aarrevaara, Timo

    2016-01-01

    This paper tries to develop a conceptual framework for a comprehensive understanding of the merger process, which is regarded as a matter of institutionalization of organizational innovation. In the framework, a number of factors affecting merger process or institutionalization of merger are identified, such as those related to environmental…

  4. Discursive "Policy Logics" of Mergers in US Higher Education: Strategy or Tragedy?

    Science.gov (United States)

    Stephenson, Sandria S.

    2011-01-01

    Mergers are part of the historical fabric of US higher education. However, the current economic recession and other policy issues have experts and academicians predicting an increase in higher education mergers in the USA. Consequently, this study analysed the discursive "policy logics" surrounding merger negotiations in US higher…

  5. 7 CFR 1717.158 - Mergers with borrowers who prepaid RUS loans.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Mergers with borrowers who prepaid RUS loans. 1717.158 Section 1717.158 Agriculture Regulations of the Department of Agriculture (Continued) RURAL... GUARANTEED ELECTRIC LOANS Mergers and Consolidations of Electric Borrowers § 1717.158 Mergers with borrowers...

  6. 17 CFR 230.145 - Reclassification of securities, mergers, consolidations and acquisitions of assets.

    Science.gov (United States)

    2010-04-01

    ..., mergers, consolidations and acquisitions of assets. 230.145 Section 230.145 Commodity and Securities... § 230.145 Reclassification of securities, mergers, consolidations and acquisitions of assets.... A statutory merger or consolidation or similar plan or acquisition in which securities of such...

  7. Mergers in Chinese Higher Education: Lessons for Studies in a Global Context

    Science.gov (United States)

    Cai, Yuzhuo; Yang, Xi

    2016-01-01

    Since the 1990s, there have been more than 400 cases of university mergers in China, representing various types and involving 1000 public institutions. While China has provided good and abundant cases for studies on university mergers, such an opportunity has not yet been fully exploited by international scholars of university merger research.…

  8. Mergers between Governmental Research Institutes and Universities in the Danish HE Sector

    Science.gov (United States)

    Aagaard, Kaare; Hansen, Hanne Foss; Rasmussen, Jørgen Gulddahl

    2016-01-01

    This article presents an analysis of the mergers in the Danish Higher Education (HE)-sector with a particular emphasis on the 2007 mergers involving universities and Government Research Institutes (GRIs). Furthermore, it follows the post-merger processes up to 2014/2015 at two Danish universities and examines the consequences of the changes seen…

  9. Mergers between governmental research institutes and Universities in the Danish HE sector

    DEFF Research Database (Denmark)

    Aagaard, Kaare; Hansen, Hanne Foss; Rasmussen, Jørgen Gulddahl

    2016-01-01

    This article presents an analysis of the mergers in the Danish Higher Education (HE)-sector with a particular emphasis on the 2007 mergers involving universities and Government Research Institutes (GRIs). Furthermore, it follows the post-merger processes up to 2014/2015 at two Danish universities...

  10. Creditor-focused corporate governance: Evidence from mergers and acquisitions in Japan

    NARCIS (Netherlands)

    V. Mehrotra (Vikas); D. van Schaik (Dimitri); J. Spronk (Jaap); O.W. Steenbeek (Onno)

    2011-01-01

    textabstractMergers in Japan have the dubious distinction of not creating wealth for shareholders of target firms, in sharp contrast to what occurs in much of the rest of the world. Using a sample of 91 mergers from 1982 through 2003 we document several distinctive features of the merger market in

  11. 12 CFR 611.1125 - Treatment of associations not approving districtwide mergers.

    Science.gov (United States)

    2010-01-01

    ... in a districtwide merger or consolidation: (1) Discriminate in the provision of any financial service... ORGANIZATION Mergers, Consolidations, and Charter Amendments of Associations § 611.1125 Treatment of... certificates of territory for districtwide mergers or consolidations of associations, the Farm Credit...

  12. From discs to bulges: effect of mergers on the morphology of galaxies

    NARCIS (Netherlands)

    Kannan, Rahul; Macciò, Andrea V.; Fontanot, Fabio; Moster, Benjamin P.; Karman, Wouter; Somerville, Rachel S.

    2015-01-01

    We study the effect of mergers on the morphology of galaxies by means of the simulated merger tree approach first proposed by Moster et al. This method combines N-body cosmological simulations and semi-analytic techniques to extract realistic initial conditions for galaxy mergers. These are then

  13. 40 CFR 300.125 - Notification and communications.

    Science.gov (United States)

    2010-07-01

    ..., EMERGENCY PLANNING, AND COMMUNITY RIGHT-TO-KNOW PROGRAMS NATIONAL OIL AND HAZARDOUS SUBSTANCES POLLUTION... local number (Telecommunication Device for the Deaf (TDD) and collect calls accepted). (Notification...

  14. REPRODUCING THE OBSERVED ABUNDANCES IN RCB AND HdC STARS WITH POST-DOUBLE-DEGENERATE MERGER MODELS-CONSTRAINTS ON MERGER AND POST-MERGER SIMULATIONS AND PHYSICS PROCESSES

    Energy Technology Data Exchange (ETDEWEB)

    Menon, Athira; Herwig, Falk; Denissenkov, Pavel A. [Department of Physics and Astronomy, University of Victoria, Victoria, BC V8P5C2 (Canada); Clayton, Geoffrey C.; Staff, Jan [Department of Physics and Astronomy, Louisiana State University, 202 Nicholson Hall, Tower Dr., Baton Rouge, LA 70803-4001 (United States); Pignatari, Marco [Department of Physics, University of Basel, Klingelbergstrasse 82, CH-4056 Basel (Switzerland); Paxton, Bill [Kavli Institute for Theoretical Physics and Department of Physics, Kohn Hall, University of California, Santa Barbara, CA 93106 (United States)

    2013-07-20

    The R Coronae Borealis (RCB) stars are hydrogen-deficient, variable stars that are most likely the result of He-CO WD mergers. They display extremely low oxygen isotopic ratios, {sup 16}O/{sup 18}O {approx_equal} 1-10, {sup 12}C/{sup 13}C {>=} 100, and enhancements up to 2.6 dex in F and in s-process elements from Zn to La, compared to solar. These abundances provide stringent constraints on the physical processes during and after the double-degenerate merger. As shown previously, O-isotopic ratios observed in RCB stars cannot result from the dynamic double-degenerate merger phase, and we now investigate the role of the long-term one-dimensional spherical post-merger evolution and nucleosynthesis based on realistic hydrodynamic merger progenitor models. We adopt a model for extra envelope mixing to represent processes driven by rotation originating in the dynamical merger. Comprehensive nucleosynthesis post-processing simulations for these stellar evolution models reproduce, for the first time, the full range of the observed abundances for almost all the elements measured in RCB stars: {sup 16}O/{sup 18}O ratios between 9 and 15, C-isotopic ratios above 100, and {approx}1.4-2.35 dex F enhancements, along with enrichments in s-process elements. The nucleosynthesis processes in our models constrain the length and temperature in the dynamic merger shell-of-fire feature as well as the envelope mixing in the post-merger phase. s-process elements originate either in the shell-of-fire merger feature or during the post-merger evolution, but the contribution from the asymptotic giant branch progenitors is negligible. The post-merger envelope mixing must eventually cease {approx}10{sup 6} yr after the dynamic merger phase before the star enters the RCB phase.

  15. REPRODUCING THE OBSERVED ABUNDANCES IN RCB AND HdC STARS WITH POST-DOUBLE-DEGENERATE MERGER MODELS—CONSTRAINTS ON MERGER AND POST-MERGER SIMULATIONS AND PHYSICS PROCESSES

    International Nuclear Information System (INIS)

    Menon, Athira; Herwig, Falk; Denissenkov, Pavel A.; Clayton, Geoffrey C.; Staff, Jan; Pignatari, Marco; Paxton, Bill

    2013-01-01

    The R Coronae Borealis (RCB) stars are hydrogen-deficient, variable stars that are most likely the result of He-CO WD mergers. They display extremely low oxygen isotopic ratios, 16 O/ 18 O ≅ 1-10, 12 C/ 13 C ≥ 100, and enhancements up to 2.6 dex in F and in s-process elements from Zn to La, compared to solar. These abundances provide stringent constraints on the physical processes during and after the double-degenerate merger. As shown previously, O-isotopic ratios observed in RCB stars cannot result from the dynamic double-degenerate merger phase, and we now investigate the role of the long-term one-dimensional spherical post-merger evolution and nucleosynthesis based on realistic hydrodynamic merger progenitor models. We adopt a model for extra envelope mixing to represent processes driven by rotation originating in the dynamical merger. Comprehensive nucleosynthesis post-processing simulations for these stellar evolution models reproduce, for the first time, the full range of the observed abundances for almost all the elements measured in RCB stars: 16 O/ 18 O ratios between 9 and 15, C-isotopic ratios above 100, and ∼1.4-2.35 dex F enhancements, along with enrichments in s-process elements. The nucleosynthesis processes in our models constrain the length and temperature in the dynamic merger shell-of-fire feature as well as the envelope mixing in the post-merger phase. s-process elements originate either in the shell-of-fire merger feature or during the post-merger evolution, but the contribution from the asymptotic giant branch progenitors is negligible. The post-merger envelope mixing must eventually cease ∼10 6 yr after the dynamic merger phase before the star enters the RCB phase

  16. Properties of Merger Shocks in Merging Galaxy Clusters

    Science.gov (United States)

    Ha, Ji-Hoon; Ryu, Dongsu; Kang, Hyesung

    2018-04-01

    X-ray shocks and radio relics detected in the cluster outskirts are commonly interpreted as shocks induced by mergers of subclumps. We study the properties of merger shocks in merging galaxy clusters, using a set of cosmological simulations for the large-scale structure formation of the universe. As a representative case, we focus on the simulated clusters that undergo almost head-on collisions with mass ratio ∼2. Due to the turbulent nature of the intracluster medium, shock surfaces are not smooth, but composed of shocks with different Mach numbers. As the merger shocks expand outward from the core to the outskirts, the average Mach number, , increases in time. We suggest that the shocks propagating along the merger axis could be manifested as X-ray shocks and/or radio relics. The kinetic energy through the shocks, F ϕ , peaks at ∼1 Gyr after their initial launching, or at ∼1–2 Mpc from the core. Because of the Mach number dependent model adopted here for the cosmic-ray (CR) acceleration efficiency, their CR-energy-weighted Mach number is higher with }CR}∼ 3{--}4, compared to the kinetic-energy-weighted Mach number, }φ ∼ 2{--}3. Most energetic shocks are to be found ahead of the lighter dark matter (DM) clump, while the heavier DM clump is located on the opposite side of clusters. Although our study is limited to the merger case considered, the results such as the means and variations of shock properties and their time evolution could be compared with the observed characteristics of merger shocks, constraining interpretations of relevant observations.

  17. Spatially Offset Active Galactic Nuclei. II. Triggering in Galaxy Mergers

    Energy Technology Data Exchange (ETDEWEB)

    Barrows, R. Scott; Comerford, Julia M. [Department of Astrophysical and Planetary Sciences, University of Colorado Boulder, Boulder, CO 80309 (United States); Greene, Jenny E. [Department of Astrophysical Sciences, Princeton University, Princeton, NJ 08544 (United States); Pooley, David, E-mail: Robert.Barrows@Colorado.edu [Department of Physics and Astronomy, Trinity University, San Antonio, TX 78212 (United States)

    2017-04-01

    Galaxy mergers are likely to play a role in triggering active galactic nuclei (AGNs), but the conditions under which this process occurs are poorly understood. In Paper I, we constructed a sample of spatially offset X-ray AGNs that represent galaxy mergers hosting a single AGN. In this paper, we use our offset AGN sample to constrain the parameters that affect AGN observability in galaxy mergers. We also construct dual-AGN samples with similar selection properties for comparison. We find that the offset AGN fraction shows no evidence for a dependence on AGN luminosity, while the dual-AGN fractions show stronger evidence for a positive dependence, suggesting that the merger events forming dual AGNs are more efficient at instigating accretion onto supermassive black holes than those forming offset AGNs. We also find that the offset and dual-AGN fractions both have a negative dependence on nuclear separation and are similar in value at small physical scales. This dependence may become stronger when restricted to high AGN luminosities, although a larger sample is needed for confirmation. These results indicate that the probability of AGN triggering increases at later merger stages. This study is the first to systematically probe down to nuclear separations of <1 kpc (∼0.8 kpc) and is consistent with predictions from simulations that AGN observability peaks in this regime. We also find that the offset AGNs are not preferentially obscured compared to the parent AGN sample, suggesting that our selection may be targeting galaxy mergers with relatively dust-free nuclear regions.

  18. Valuation of Company Merger from the Shareholders’ Point of View

    Directory of Open Access Journals (Sweden)

    Christian Toll

    2017-08-01

    Full Text Available By means of a company merger formerly legally and economically independent companies are tied up to an economic entity. To order the financial state of affairs after the merger, the current shareholders must revalue their stake in the merged company. The interest is focused on the valuation of shares and, consequently, on the allocation of the future economic benefits of the merged company to each owner. Despite the apparent relevance of company mergers in practice, the scientific literature deals with this topic only in an unsatisfying manner. After some early simple model-oriented approaches with the aim to define an ideal exchange ratio, the valuation problem of a merger was taken up again not earlier than in Hering (2004. Based on his considerations, the aim of our paper is to extend and generalize the valuation methods for a company merger and foremost to set the algebra for the computation of the critical share by using maximization of wealth as target function on a firm foundation. We assign a certain marginal quota to the shareholders representing the minimum share in the merged company which puts them in a financial position no worse than compared to the going concern basis. For this reason, we introduce the state marginal quota model as an innovative valuation approach that considers both existing market imperfections and individual expectations of a specific shareholder. To pinpoint our key finding: If private financial redistributions are available, our extended and generalized model shows that the marginal quota * in question cannot be “trivially” obtained as a ratio of utilities. Instead, it is essential to consider the private decision field of a shareholder to allow a restructuring of the dividend payout stream offered by the merged company in order to reach at least a level of utility which is comparable to the state before the merger.

  19. Spatially Offset Active Galactic Nuclei. II. Triggering in Galaxy Mergers

    Science.gov (United States)

    Barrows, R. Scott; Comerford, Julia M.; Greene, Jenny E.; Pooley, David

    2017-04-01

    Galaxy mergers are likely to play a role in triggering active galactic nuclei (AGNs), but the conditions under which this process occurs are poorly understood. In Paper I, we constructed a sample of spatially offset X-ray AGNs that represent galaxy mergers hosting a single AGN. In this paper, we use our offset AGN sample to constrain the parameters that affect AGN observability in galaxy mergers. We also construct dual-AGN samples with similar selection properties for comparison. We find that the offset AGN fraction shows no evidence for a dependence on AGN luminosity, while the dual-AGN fractions show stronger evidence for a positive dependence, suggesting that the merger events forming dual AGNs are more efficient at instigating accretion onto supermassive black holes than those forming offset AGNs. We also find that the offset and dual-AGN fractions both have a negative dependence on nuclear separation and are similar in value at small physical scales. This dependence may become stronger when restricted to high AGN luminosities, although a larger sample is needed for confirmation. These results indicate that the probability of AGN triggering increases at later merger stages. This study is the first to systematically probe down to nuclear separations of <1 kpc (˜0.8 kpc) and is consistent with predictions from simulations that AGN observability peaks in this regime. We also find that the offset AGNs are not preferentially obscured compared to the parent AGN sample, suggesting that our selection may be targeting galaxy mergers with relatively dust-free nuclear regions.

  20. Notification of brain death in the hospital

    Directory of Open Access Journals (Sweden)

    Bruna Soares de Jesus Souza

    2015-05-01

    Full Text Available Objective: to identifying brain death in the hospital. Methods: it is a cross sectional and quantitative study which analyzed secondary data extracted from the notified brain death registers and from the medical records of the eligible patients. The data were processed and analyzed through descriptive statistics and comparisons. Results: of the 64 cases of notifications, the male gender predominated (67.2% within the age range from 40 to 59 years (64.1%. There was a greater proportion (71.8% of causes of death related to Hemorrhagic Cerebral Vascular Accident and Traumatic Brain Injury caused by motorcycle accident, showing statistically significant difference (p<0.05 regarding the gender, age and location. Conclusion: the Hemorrhagic Cerebral Vascular Accident was the most prevalent cause of notification of brain death and the Intensive Therapy Unit was the most notified venue.

  1. Impacts of Mergers and Acquisitions on Acquirer Banks’ Performance

    Directory of Open Access Journals (Sweden)

    Burhan Ali Shah

    2017-09-01

    Full Text Available This study investigates the effects of mergers and acquisitions (M & A on the operating performance of the acquirer banks in Pakistan. For this purpose, a sample of 18 transactions, involving acquirer banks, listed on the Karachi Stock Exchange, is used. The Financial Ratio Analysis (FRA is used to determine the effects of M & A. The significance of change in the operating performances is tested through a paired sample t-test. The results indicate deterioration in the performances of the acquirer banks in the post-merger period.

  2. Hospital mergers and acquisitions: does market consolidation harm patients?

    Science.gov (United States)

    Ho, V; Hamilton, B H

    2000-09-01

    Debate continues on whether consolidation in health care markets enhances efficiency or instead facilitates market power, possibly damaging quality. We compare the quality of hospital care before and after mergers and acquisitions in California between 1992 and 1995. We analyze inpatient mortality for heart attack and stroke patients, 90-day readmission for heart attack patients, and discharge within 48 h for normal newborn babies. Recent mergers and acquisitions have not had a measurable impact on inpatient mortality, although the associated standard errors are large. Readmission rates and early discharge increased in some cases. The adverse consequences of increased market power on the quality of care require further substantiation.

  3. MERGERS, ACQUISITIONS AND BANKING CONSOLIDATION IN CENTRAL AND EASTERN EUROPE

    Directory of Open Access Journals (Sweden)

    Andreea Nicoleta Popovici

    2013-12-01

    Full Text Available Acquisitions and mergers are the growth and expansion strategies that are commonly used by the companies in all over the world because of several reasons such as increasing the profit, sales and market share, entering into new markets, operating with economics of scale, coping with managerial problems and so on. This article underlines the characteristics of mergers and acquisitions (M&A, the different types of M&A, the challenges and opportunities for the banking system in Central and Eastern Europe and we analyze the implications of the recently observed sharp expansion of foreign banks in the Central and Eastern European Countries.

  4. Recent mergers and acquisitions changes face of RSA coal

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-10-01

    During the last two years, the South African coal industry has altered dramatically, with several major mergers and acquisitions taking place affecting production and Richards Bay Coal Terminal (RBCT) entitlement. This article summarises the current position, as it happened. Events discussed include: the merger of Trans-Natal and Randcoal; Sasol becoming a member of RBCT; Tavistock`s Shell acquisition; the Duiker Mining-Lonrho acquisition; Amcoal`s purchase of Gold Fields Coal; the sale of Welgedacht Exploration Company to the Kangra Group and the formation of New Coal by Amcoal and Ingwe. 2 tabs., 2 photos.

  5. Antecedents of hospital ownership conversions, mergers, and closures.

    Science.gov (United States)

    Sloan, Frank A; Ostermann, Jan; Conover, Christopher J

    2003-01-01

    This study assesses the determinants of conversions in hospital ownership from 1986 through 1996. To place such changes in context, we also analyze causes of hospital mergers and closures, which are often alternatives to hospital ownership conversion. A consistent result from our analysis is that an important antecedent of ownership conversions is a low profit margin. Conversions from private nonprofit or government ownership to for-profit status are preceded by chronically low margins and high debt-to-asset ratios. By contrast, conversions from for-profit ownership occur quickly following declines in margins. Many mergers seem motivated by a desire to increase market power--a consideration not evident for conversions.

  6. Event notification system with a PLC

    International Nuclear Information System (INIS)

    Kawase, M.; Yoshikawa, Hiroshi; Sakaki, Hironao; Takahashi, Hiroki; Sako, Hiroyuki; Kamiya, Junichiro; Takayanagi, Tomohiro

    2004-01-01

    When an interlock occurs in the equipment, it is required to notify the upper rank control system of the Interlock and receive information for apparatus information in the upper rank control system as at high speed as possible. In the apparatus using FA-M3, it can respond to this by using the notice function of an event. This report shows the event notification system with a PLC based Kicker electromagnet power supply for 3GeV RCS. (author)

  7. Notification of brain death in the hospital

    OpenAIRE

    Bruna Soares de Jesus Souza; Gerlene Grudka Lira; Rachel Mola

    2015-01-01

    Objective: to identifying brain death in the hospital. Methods: it is a cross sectional and quantitative study which analyzed secondary data extracted from the notified brain death registers and from the medical records of the eligible patients. The data were processed and analyzed through descriptive statistics and comparisons. Results: of the 64 cases of notifications, the male gender predominated (67.2%) within the age range from 40 to 59 years (64.1%). There was a greater proportion (71.8...

  8. TOWARDS MODELING DISEASE OUTBREAK NOTIFICATION SYSTEMS

    OpenAIRE

    Farag Azzedin; Jaweed Yazdani,; Salahadin Adam; Mustafa Ghaleb

    2014-01-01

    Disease outbreak detection, monitoring and notification systems play an important role in assessing threats to public health since disease outbreaks are becoming increasingly common world-wide. There are several systems in use around the world, with coverage of national, international and global disease outbreaks. These systems use different taxonomies and classifications for the detection and prioritization of potential disease outbreaks. In this paper, we study and analyze th...

  9. SENT SMS : School Event Notification Through SMS

    Directory of Open Access Journals (Sweden)

    Ramil G. Lumauag

    2016-11-01

    Full Text Available Mobile phones are now considered as an essential part of people’s daily lives which is used for communication and provides diversified information. The use of mobile phone is not only limited to communication alone, but now used for subscription to value-added services like disaster warning, alert systems, and notifications. The development of School Event Notification Through SMS (SENT SMS is beneficial to students, teachers, and parents in receiving first-hand information from the school right into their mobile phone. With the use of SMS Notification, students will be notified with the upcoming events of the school, changes in schedule of events, and suspension of classes due to bad weather. Teachers will be notified for schedule of meetings, emergency meetings, and deadlines of requirements. Parents will also be informed about the school activities and be aware of the activities of their children in school. The system was tested and evaluated using ISO 9126 standard questionnaire for software quality characteristics such as functionality, reliability, usability, efficiency, maintainability, and portability. The result implies that the overall usefulness of the system is very effective, that is, it is highly functional, highly reliable, highly usable, highly efficient, highly maintainable and highly portable.

  10. The impact of post-merger cross-shareholdings on South African merger control policy

    Directory of Open Access Journals (Sweden)

    Chris Charter

    2012-10-01

    Full Text Available There is a concentration of EU and US standards in the South African economy. In addition, a number of large industries have been undergoing consolidation. As a result, the phenomenon of cross-holdings, both within and across industries, is not unusual. In cases where the level of cross-holding falls short of joint control, the competition authorities have at times sought to apply the co-ordinated effects doctrine or some variation thereof hoping to lessen potential competition. More recently, the Tribunal has also considered the possible unilateral effects of the acquisition of a minority stake in a rival. A number of cases has emerged that to a greater or lesser degree explores the impact of crossholdings and cross-directorships on the competitive behaviour of the firms concerned. This paper includes a review of some of these decisions with a view to determining whether any clear policy seems likely to emerge from the competition authorities. The authorities’ approach to date, reveals an evolution from reflex suspicion to a more reasoned, fact-based outlook. Cross-holdings and directorships are treated in the same way as any other evidence relevant to an analysis of a given merger. However, despite the Tribunal’s willingness to wrestle with various economic theories, the most recent decision suggests that the acquisition of a non-controlling cross-holding in a company may not fall under the analysis of South African merger regulation at all. Should that position change, following clarification by the Tribunal or an unequivocal ruling of the Competition Appeal Court, the body of case law goes some way to indicating the type and manner of analysis the authorities will employ.

  11. Eccentric, nonspinning, inspiral, Gaussian-process merger approximant for the detection and characterization of eccentric binary black hole mergers

    Science.gov (United States)

    Huerta, E. A.; Moore, C. J.; Kumar, Prayush; George, Daniel; Chua, Alvin J. K.; Haas, Roland; Wessel, Erik; Johnson, Daniel; Glennon, Derek; Rebei, Adam; Holgado, A. Miguel; Gair, Jonathan R.; Pfeiffer, Harald P.

    2018-01-01

    We present ENIGMA, a time domain, inspiral-merger-ringdown waveform model that describes nonspinning binary black holes systems that evolve on moderately eccentric orbits. The inspiral evolution is described using a consistent combination of post-Newtonian theory, self-force and black hole perturbation theory. Assuming eccentric binaries that circularize prior to coalescence, we smoothly match the eccentric inspiral with a stand-alone, quasicircular merger, which is constructed using machine learning algorithms that are trained with quasicircular numerical relativity waveforms. We show that ENIGMA reproduces with excellent accuracy the dynamics of quasicircular compact binaries. We validate ENIGMA using a set of Einstein Toolkit eccentric numerical relativity waveforms, which describe eccentric binary black hole mergers with mass-ratios between 1 ≤q ≤5.5 , and eccentricities e0≲0.2 ten orbits before merger. We use this model to explore in detail the physics that can be extracted with moderately eccentric, nonspinning binary black hole mergers. In particular, we use ENIGMA to show that the gravitational wave transients GW150914, GW151226, GW170104, GW170814 and GW170608 can be effectively recovered with spinning, quasicircular templates if the eccentricity of these events at a gravitational wave frequency of 10 Hz satisfies e0≤{0.175 ,0.125 ,0.175 ,0.175 ,0.125 }, respectively. We show that if these systems have eccentricities e0˜0.1 at a gravitational wave frequency of 10 Hz, they can be misclassified as quasicircular binaries due to parameter space degeneracies between eccentricity and spin corrections. Using our catalog of eccentric numerical relativity simulations, we discuss the importance of including higher-order waveform multipoles in gravitational wave searches of eccentric binary black hole mergers.

  12. THE MERGER-TRIGGERED ACTIVE GALACTIC NUCLEUS CONTRIBUTION TO THE ULTRALUMINOUS INFRARED GALAXY POPULATION

    International Nuclear Information System (INIS)

    Draper, A. R.; Ballantyne, D. R.

    2012-01-01

    It has long been thought that there is a connection between ultraluminous infrared galaxies (ULIRGs), quasars, and major mergers. Indeed, simulations show that major mergers are capable of triggering massive starbursts and quasars. However, observations by the Herschel Space Observatory suggest that, at least at high redshift, there may not always be a simple causal connection between ULIRGs and mergers. Here, we combine an evolving merger-triggered active galactic nucleus (AGN) luminosity function with a merger-triggered starburst model to calculate the maximum contribution of major mergers to the ULIRG population. We find that major mergers can account for the entire local population of ULIRGs hosting AGNs and ∼25% of the total local ULIRG luminosity density. By z ∼ 1, major mergers can no longer account for the luminosity density of ULIRGs hosting AGNs and contribute ∼<12% of the total ULIRG luminosity density. This drop is likely due to high-redshift galaxies being more gas rich and therefore able to achieve high star formation rates through secular evolution. Additionally, we find that major mergers can account for the local population of warm ULIRGs. This suggests that selecting high-redshift warm ULIRGs will allow for the identification of high-redshift merger-triggered ULIRGs. As major mergers are likely to trigger very highly obscured AGNs, a significant fraction of the high-redshift warm ULIRG population may host Compton thick AGNs.

  13. Mergers and acquisitions: A synthesis of theories and directions for future research

    Directory of Open Access Journals (Sweden)

    Wissal Ben Letaifa

    2017-02-01

    Full Text Available The purpose of this paper is to review a synthesis of theories and empirical studies dealing with the mergers and acquisitions in the recent decay in an attempt to provide directions for future research. The review focuses on four main streams including: first, the motives for mergers-acquisitions; which are the strategic profits, the overconfidence of managers and the desire to create a big empire resulting from merger. From second, corporate characteristics of firms that did merger or acquisition; third, the economic consequences of the operation of merger and acquisition and finally; fourth, the implication on the market with the impact of merger on the value of the firm. We think that this article can give another idea about the information disclosed by any company choosing to merge and can be analyzed by practitioners by giving them the theoretical background of the merger and acquisition problem.

  14. Welfare effects of mergers and multilateral trade liberalization

    NARCIS (Netherlands)

    Ray Chaudhuri, A.; Benchekroun, H.

    2012-01-01

    In a two-country model where firms behave à la Cournot, we show that trade liberalization increases (decreases) the social desirability of those mergers that generate sufficiently large (small) reductions in marginal cost. There exists a range of intermediate levels of marginal cost savings such

  15. THE ELM SURVEY. IV. 24 WHITE DWARF MERGER SYSTEMS

    International Nuclear Information System (INIS)

    Kilic, Mukremin; Brown, Warren R.; Kenyon, S. J.; Allende Prieto, Carlos; Heinke, Craig O.; Agüeros, M. A.; Kleinman, S. J.

    2012-01-01

    We present new radial velocity and X-ray observations of extremely low mass (ELM, ∼0.2 M ☉ ) white dwarf (WD) candidates in the Sloan Digital Sky Survey Data Release 7 area. We identify seven new binary systems with 1-18 hr orbital periods. Five of the systems will merge due to gravitational wave radiation within 10 Gyr, bringing the total number of merger systems found in the ELM Survey to 24. The ELM Survey has now quintupled the known merger WD population. It has also discovered the eight shortest period detached binary WD systems currently known. We discuss the characteristics of the merger and non-merger systems observed in the ELM Survey, including their future evolution. About half of the systems have extreme mass ratios. These are the progenitors of the AM Canum Venaticorum systems and Type Ia supernovae. The remaining targets will lead to the formation of extreme helium stars, subdwarfs, or massive WDs. We identify three targets that are excellent gravitational wave sources. These should be detected by the Laser Interferometer Space Antenna like missions within the first year of operation. The remaining targets are important indicators of what the Galactic foreground may look like for gravitational wave observatories.

  16. EdF-Gaz de France. No merger without dismembering

    International Nuclear Information System (INIS)

    Lepetit, V.

    2007-01-01

    Gathering together the two historical French energy monopolies, Electricite de France (EdF) and Gaz de France (GdF), and warranting low electricity and gas prices is still an attractive idea for some political and syndicate representatives. However, such a merger would create a dominating position which is forbidden with respect to Brussels criteria. (J.S.)

  17. Multi-messenger Observations of a Binary Neutron Star Merger

    NARCIS (Netherlands)

    Scholten, Olaf; van den Berg, Adriaan

    2017-01-01

    On 2017 August 17 a binary neutron star coalescence candidate (later designated GW170817) with merger time 12:41:04 UTC was observed through gravitational waves by the Advanced LIGO and Advanced Virgo detectors. The Fermi Gamma-ray Burst Monitor independently detected a gamma-ray burst (GRB 170817A)

  18. Astrophysical Implications of the Binary Black Hole Merger GW150914

    Science.gov (United States)

    Abbott, B. P.; Abbott, R.; Abbott, T. D.; Abernathy, M. R.; Acernese, F.; Ackley, K.; Adams, C.; Adams, T.; Addesso, P.; Adhikari, R. X.; hide

    2016-01-01

    The discovery of the gravitational-wave (GW) source GW150914 with the Advanced LIGO detectors provides the first observational evidence for the existence of binary black hole (BH) systems that in spiral and merge within the age of the universe. Such BH mergers have been predicted in two main types of formation models, involving isolated binaries in galactic fields or dynamical interactions in young and old dense stellar environments. The measured masses robustly demonstrate that relatively heavy BHs (> or approx. 25 Stellar Mass) can form in nature. This discovery implies relatively weak massive-star winds and thus the formation of GW150914 in an environment with a metallicity lower than about 12 of the solar value. The rate of binary-BH (BBH) mergers inferred from the observation of GW150914 is consistent with the higher end of rate predictions (> or approx. 1/cu Gpc/yr) from both types of formation models. The low measured redshift (z approx. = 0.1) of GW150914 and the low inferred metallicity of the stellar progenitor imply either BBH formation in a low-mass galaxy in the local universe and a prompt merger, or formation at high redshift with a time delay between formation and merger of several Gyr. This discovery motivates further studies of binary-BH formation astrophysics. It also has implications for future detections and studies by Advanced LIGO and Advanced Virgo, and GW detectors in space.

  19. Numerical Relativity, Black Hole Mergers, and Gravitational Waves: Part I

    Science.gov (United States)

    Centrella, Joan

    2012-01-01

    This series of 3 lectures will present recent developments in numerical relativity, and their applications to simulating black hole mergers and computing the resulting gravitational waveforms. In this first lecture, we introduce the basic ideas of numerical relativity, highlighting the challenges that arise in simulating gravitational wave sources on a computer.

  20. Numerical Relativity, Black Hole Mergers, and Gravitational Waves: Part III

    Science.gov (United States)

    Centrella, Joan

    2012-01-01

    This series of 3 lectures will present recent developments in numerical relativity, and their applications to simulating black hole mergers and computing the resulting gravitational waveforms. In this third and final lecture, we present applications of the results of numerical relativity simulations to gravitational wave detection and astrophysics.

  1. Staff perceptions of the merger between two South African regional ...

    African Journals Online (AJOL)

    As a result of political changes in South Africa in 1994, the Government of National Unity proposed that the higher education system should be reorganised to address past inequities. Subsequent investigations into restructuring the higher education system resulted in a wave of mergers across the sector. The literature on ...

  2. Exploring the cosmic evolution of habitability with galaxy merger trees

    Science.gov (United States)

    Stanway, E. R.; Hoskin, M. J.; Lane, M. A.; Brown, G. C.; Childs, H. J. T.; Greis, S. M. L.; Levan, A. J.

    2018-04-01

    We combine inferred galaxy properties from a semi-analytic galaxy evolution model incorporating dark matter halo merger trees with new estimates of supernova and gamma-ray burst rates as a function of metallicity from stellar population synthesis models incorporating binary interactions. We use these to explore the stellar-mass fraction of galaxies irradiated by energetic astrophysical transients and its evolution over cosmic time, and thus the fraction which is potentially habitable by life like our own. We find that 18 per cent of the stellar mass in the Universe is likely to have been irradiated within the last 260 Myr, with GRBs dominating that fraction. We do not see a strong dependence of irradiated stellar-mass fraction on stellar mass or richness of the galaxy environment. We consider a representative merger tree as a Local Group analogue, and find that there are galaxies at all masses which have retained a high habitable fraction (>40 per cent) over the last 6 Gyr, but also that there are galaxies at all masses where the merger history and associated star formation have rendered galaxies effectively uninhabitable. This illustrates the need to consider detailed merger trees when evaluating the cosmic evolution of habitability.

  3. Impact of information technology infrastructure flexibility on mergers and acquisitions

    NARCIS (Netherlands)

    Benitez, Jose; Ray, Gautam; Henseler, Jörg

    2018-01-01

    Although mergers and acquisitions (M&A) are a common strategy to reduce costs and pursue growth, the variance in returns from M&A is very high. This research examines how information technology (IT) infrastructure flexibility affects M&A. We use a combination of secondary as well as matched-pair

  4. Multi-messenger Observations of a Binary Neutron Star Merger

    DEFF Research Database (Denmark)

    Abbott, B. P.; Abbott, R.; Abbott, T. D.

    2017-01-01

    On 2017 August 17 a binary neutron star coalescence candidate (later designated GW170817) with merger time 12:41:04 UTC was observed through gravitational waves by the Advanced LIGO and Advanced Virgo detectors. The Fermi Gamma-ray Burst Monitor independently detected a gamma-ray burst (GRB 17081...

  5. Galaxy pairs as a probe for mergers at z ~ 2

    DEFF Research Database (Denmark)

    Man, A.W.S.; Zirm, Andrew Wasmuth; Toft, Sune

    2011-01-01

    In this work I investigate the redshift evolution of pair fraction of a sample of 196 massive galaxies from z = 0 to 3, selected from the COSMOS field. We find that on average a massive galaxy undergoes ~ 1.1 \\pm 0.5 major merger since z = 3. I will review the current limitations of using the pair...

  6. THE ELM SURVEY. IV. 24 WHITE DWARF MERGER SYSTEMS

    Energy Technology Data Exchange (ETDEWEB)

    Kilic, Mukremin [Homer L. Dodge Department of Physics and Astronomy, University of Oklahoma, 440 West Brooks Street, Norman, OK 73019 (United States); Brown, Warren R.; Kenyon, S. J. [Smithsonian Astrophysical Observatory, 60 Garden Street, Cambridge, MA 02138 (United States); Allende Prieto, Carlos [Instituto de Astrofisica de Canarias, E-38205 La Laguna, Tenerife (Spain); Heinke, Craig O. [Department of Physics, CCIS 4-183, University of Alberta, Edmonton, AB, T6G 2E1 (Canada); Agueeros, M. A. [Department of Astronomy, Columbia University, 550 West 120th Street, New York, NY 10027 (United States); Kleinman, S. J., E-mail: kilic@ou.edu [Gemini Observatory, 670 North A' ohoku Place, Hilo, HI 96720 (United States)

    2012-06-01

    We present new radial velocity and X-ray observations of extremely low mass (ELM, {approx}0.2 M{sub Sun }) white dwarf (WD) candidates in the Sloan Digital Sky Survey Data Release 7 area. We identify seven new binary systems with 1-18 hr orbital periods. Five of the systems will merge due to gravitational wave radiation within 10 Gyr, bringing the total number of merger systems found in the ELM Survey to 24. The ELM Survey has now quintupled the known merger WD population. It has also discovered the eight shortest period detached binary WD systems currently known. We discuss the characteristics of the merger and non-merger systems observed in the ELM Survey, including their future evolution. About half of the systems have extreme mass ratios. These are the progenitors of the AM Canum Venaticorum systems and Type Ia supernovae. The remaining targets will lead to the formation of extreme helium stars, subdwarfs, or massive WDs. We identify three targets that are excellent gravitational wave sources. These should be detected by the Laser Interferometer Space Antenna like missions within the first year of operation. The remaining targets are important indicators of what the Galactic foreground may look like for gravitational wave observatories.

  7. MINOR MERGERS AND THE SIZE EVOLUTION OF ELLIPTICAL GALAXIES

    International Nuclear Information System (INIS)

    Naab, Thorsten; Johansson, Peter H.; Ostriker, Jeremiah P.

    2009-01-01

    Using a high-resolution hydrodynamical cosmological simulation of the formation of a massive spheroidal galaxy we show that elliptical galaxies can be very compact and massive at high redshift in agreement with recent observations. Accretion of stripped infalling stellar material increases the size of the system with time and the central concentration is reduced by dynamical friction of the surviving stellar cores. In a specific case of a spheroidal galaxy with a final stellar mass of 1.5 x 10 11 M sun we find that the effective radius r e increases from 0.7 ± 0.2 kpc at z = 3 to r e = 2.4 ± 0.4 kpc at z = 0 with a concomitant decrease in the effective density of an order of magnitude and a decrease of the central velocity dispersion by approximately 20% over this time interval. A simple argument based on the virial theorem shows that during the accretion of weakly bound material (minor mergers) the radius can increase as the square of the mass in contrast to the usual linear rate of increase for major mergers. By undergoing minor mergers compact high-redshift spheroids can evolve into present-day systems with sizes and concentrations similar to observed local ellipticals. This indicates that minor mergers may be the main driver for the late evolution of sizes and densities of early-type galaxies.

  8. Post-merger IT integration strategies: An IT alignment perspective

    NARCIS (Netherlands)

    Wijnhoven, Alphonsus B.J.M.; Spil, Antonius A.M.; Stegwee, R.A.; Fa, Rachel Tjang A

    2006-01-01

    When a company decides to merge with or to acquire another company, a major question is to what extent to integrate the information technologies and the organization. Interpreting merger objectives to proper IT integration strategies is a complex and time-consuming process, due to a lack of explicit

  9. Structural remedies in merger regulation in a Cournot framework

    Czech Academy of Sciences Publication Activity Database

    Medvedev, Andrei

    -, 2004-006 (2004), s. 1-21 ISSN 1572-4042 Institutional research plan: CEZ:AV0Z7085904 Keywords : merger regulation * structural remedies * auction Subject RIV: AH - Economics http://www.tilburguniversity.nl/tilec/publications/discussionpapers/2004-006.pdf

  10. Gravitational-Wave Luminosity of Binary Neutron Stars Mergers

    Science.gov (United States)

    Zappa, Francesco; Bernuzzi, Sebastiano; Radice, David; Perego, Albino; Dietrich, Tim

    2018-03-01

    We study the gravitational-wave peak luminosity and radiated energy of quasicircular neutron star mergers using a large sample of numerical relativity simulations with different binary parameters and input physics. The peak luminosity for all the binaries can be described in terms of the mass ratio and of the leading-order post-Newtonian tidal parameter solely. The mergers resulting in a prompt collapse to black hole have the largest peak luminosities. However, the largest amount of energy per unit mass is radiated by mergers that produce a hypermassive neutron star or a massive neutron star remnant. We quantify the gravitational-wave luminosity of binary neutron star merger events, and set upper limits on the radiated energy and the remnant angular momentum from these events. We find that there is an empirical universal relation connecting the total gravitational radiation and the angular momentum of the remnant. Our results constrain the final spin of the remnant black hole and also indicate that stable neutron star remnant forms with super-Keplerian angular momentum.

  11. Can mergers-in-progress be unmerged in speech accommodation?

    Science.gov (United States)

    Babel, Molly; McAuliffe, Michael; Haber, Graham

    2013-01-01

    This study examines spontaneous phonetic accommodation of a dialect with distinct categories by speakers who are in the process of merging those categories. We focus on the merger of the NEAR and SQUARE lexical sets in New Zealand English, presenting New Zealand participants with an unmerged speaker of Australian English. Mergers-in-progress are a uniquely interesting sound change as they showcase the asymmetry between speech perception and production. Yet, we examine mergers using spontaneous phonetic imitation, which is phenomenon that is necessarily a behavior where perceptual input influences speech production. Phonetic imitation is quantified by a perceptual measure and an acoustic calculation of mergedness using a Pillai-Bartlett trace. The results from both analyses indicate spontaneous phonetic imitation is moderated by extra-linguistic factors such as the valence of assigned conditions and social bias. We also find evidence for a decrease in the degree of mergedness in post-exposure productions. Taken together, our results suggest that under the appropriate conditions New Zealanders phonetically accommodate to Australian English and that in the process of speech imitation, mergers-in-progress can, but do not consistently, become less merged.

  12. Financing and Regulatory Frictions in Mergers and Acquisitions

    NARCIS (Netherlands)

    Q. Zhang (Quxian)

    2018-01-01

    markdownabstractThis dissertation studies how financial frictions and regulatory costs affect mergers and acquisitions (M&A). The first conclusion is that financial distress drives firms to make diversifying acquisitions. Acquisitions made by distressed firms in recent years are economically

  13. Topics in Finance: Part VIII--Mergers & Acquisitions

    Science.gov (United States)

    Laux, Judy

    2012-01-01

    In this series, three key axioms--stockholder wealth maximization, the risk-return tradeoff, and agency conflicts--are applied to the major topics in financial management. The current article looks at mergers and acquisitions, reviewing the presumed motivations, the ethical challenges, and the literature dedicated to this financial activity.

  14. Merger, Akusisi dan Konsolidasi dalam Perspektif Hukum Persaingan Usaha

    Directory of Open Access Journals (Sweden)

    Paulus Aluk Fajar Dwi Santo

    2011-05-01

    Full Text Available Mergers, acquisitions and consolidation is a business strategy that is commonly used in the business world to be able to build competitive advantage company, which in time can enhance shareholder value while maximizing the prosperity of the company owners or shareholders. To achieve the above objective normative, policy-makers need a plan and steps of strategic and accurate information to avoid the risk of failure. However, the strategy of merger, acquisition and consolidation of certain potentially inhibit fair competition conditions, thus becoming one of the objects that need to be regulated in Law no. 5 Year 1999 concerning Prohibition of Monopolistic Practices and Unfair Business Competition. Market impact of mergers, acquisitions and consolidation is important for analysis because it can have significant legal consequences for businesses, so that the research method used is the juridical normative and empirical approaches. In practice of mergers, acquisitions and consolidation intersect with regulation in other sectors, especially banking and capital markets. That is, there should be equality of perception and interpretation among the institutions that issued the policy.

  15. Downsizings, Mergers, and Acquisitions: Perspectives of Human Resource Development Practitioners

    Science.gov (United States)

    Shook, LaVerne; Roth, Gene

    2011-01-01

    Purpose: This paper seeks to provide perspectives of HR practitioners based on their experiences with mergers, acquisitions, and/or downsizings. Design/methodology/approach: This qualitative study utilized interviews with 13 HR practitioners. Data were analyzed using a constant comparative method. Findings: HR practitioners were not involved in…

  16. 12 CFR 611.1122 - Requirements for mergers or consolidations.

    Science.gov (United States)

    2010-01-01

    ....1122 Section 611.1122 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM ORGANIZATION... or proposed Articles of Association; (6) All of the information specified in paragraph (e) of this... basis for the boards' recommendation on the merger or consolidation. (5) A description of any agreement...

  17. Gravitational-Wave Luminosity of Binary Neutron Stars Mergers.

    Science.gov (United States)

    Zappa, Francesco; Bernuzzi, Sebastiano; Radice, David; Perego, Albino; Dietrich, Tim

    2018-03-16

    We study the gravitational-wave peak luminosity and radiated energy of quasicircular neutron star mergers using a large sample of numerical relativity simulations with different binary parameters and input physics. The peak luminosity for all the binaries can be described in terms of the mass ratio and of the leading-order post-Newtonian tidal parameter solely. The mergers resulting in a prompt collapse to black hole have the largest peak luminosities. However, the largest amount of energy per unit mass is radiated by mergers that produce a hypermassive neutron star or a massive neutron star remnant. We quantify the gravitational-wave luminosity of binary neutron star merger events, and set upper limits on the radiated energy and the remnant angular momentum from these events. We find that there is an empirical universal relation connecting the total gravitational radiation and the angular momentum of the remnant. Our results constrain the final spin of the remnant black hole and also indicate that stable neutron star remnant forms with super-Keplerian angular momentum.

  18. Early Experiences Implementing Voluntary School District Mergers in Vermont

    Science.gov (United States)

    Rogers, John D.; Glesner, Talia J.; Meyers, Herman W.

    2014-01-01

    This article describes the implementation of an initiative to encourage voluntary school district mergers in Vermont. The law was intended to increase educational opportunities for Vermont students while reducing costs. Three research activities were conducted to understand how districts and supervisory unions around the state responded to the new…

  19. Models for mergers in higher education | Botha | South African ...

    African Journals Online (AJOL)

    As it is highly unlikely that no combinations whatsoever will be effected, it is valuable to investigate a combination/merger scenario. This article provides some basic information on various models for merging institutions/ companies, that has been sourced from the literature regarding the private sector. The appropriateness ...

  20. Mergers & Acquisitions in Japan : Lessons for Dutch companies

    NARCIS (Netherlands)

    Grotenhuis, F.D.J.

    2009-01-01

    This article deals with lessons learned from mergers and acquisitions in Japan. In general, such combinations are not success stories, since 50–80 percent of them do not bring the benefits that were expected. Several reasons for such failures have been brought up in the literature, but real-life

  1. Impact of Mergers and Acquisitions on the Performance of ...

    African Journals Online (AJOL)

    This research study examined the impact of mergers and acquisition on the performance of manufacturing firms in Nigeria. A total of thirty-five (35) companies formed the population of this study and questionnaire was used to collect data for this research work. Data generated from the study were analysed descriptively ...

  2. Organisational mergers: a behavioural perspective on identity management

    NARCIS (Netherlands)

    S.R. Giessner (Steffen)

    2016-01-01

    markdownabstractOrganisational mergers are one of the most extreme forms of organisational change processes. Consequently, they often result in difficulties for employees to adjust to the altered organisational conditions. This is often reflected in low levels of employee identification with the

  3. ASTROPHYSICAL IMPLICATIONS OF THE BINARY BLACK HOLE MERGER GW150914

    NARCIS (Netherlands)

    Abbott, B. P.; Abbott, R.; Abbott, T. D.; Abernathy, M. R.; Acernese, F.; Ackley, K.; Adams, C.; Phythian-Adams, A.T.; Addesso, P.; Adhikari, R. X.; Adya, V. B.; Affeldt, C.; Agathos, M.; Agatsuma, K.; Aggarwal, N.T.; Aguiar, O. D.; Aiello, L.; Ain, A.; Ajith, P.; Allen, B.; Allocca, A.; Altin, P. A.; Anderson, S. B.; Anderson, W. G.; Arai, K.; Araya, M. C.; Arceneaux, C. C.; Areeda, J. S.; Arnaud, N.; Arun, K. G.; Ascenzi, S.; Ashton, G.; Ast, M.; Aston, S. M.; Astone, P.; Aufmuth, P.; Aulbert, C.; Babak, S.; Bacon, P.; Bader, M. K. M.; Baker, P. T.; Baldaccini, F.; Ballardin, G.; Ballmer, S. W.; Barayoga, J. C.; Barclay, S. E.; Barish, B. C.; Barker, R.D.; Barone, F.; Barr, B.; Barsotti, L.; Barsuglia, M.; Barta, D.; Bartlett, J.; Bartos, I.; Bassiri, R.; Basti, A.; Batch, J. C.; Baune, C.; Bavigadda, V.; Bazzan, M.; Behnke, B.; Bejger, M.; Belczynski, C.; Bell, A. S.; Bell, C. J.; Berger, B. K.; Bergman, J.; Bergmann, G.; Berry, C. P. L.; Bersanetti, D.; Bertolini, A.; Betzwieser, J.; Bhagwat, S.; Bhandare, R.; Bilenko, I. A.; Billingsley, G.; Birch, M.J.; Birney, R.; Biscans, S.; Bisht, A.; Bitossi, M.; Biwer, C.; Bizouard, M. A.; Blackburn, J. K.; Blair, C. D.; Blair, D. G.; Blair, R. M.; Bloemen, A.L.S.; Bock, O.; Bodiya, T. P.; Boer, M.; Bogaert, J.G.; Bogan, C.; Bohe, A.; Bojtos, P.; Bond, T.C; Bondu, F.; Bonnand, R.; Boom, B. A.; Bork, R.; Boschi, V.; Bose, S.; Bouffanais, Y.; Bozzi, A.; Bradaschia, C.; Brady, P. R.; Braginsky, V. B.; Branchesi, M.; Brau, J. E.; Briant, T.; Brillet, A.; Brinkmann, M.; Brisson, V.; Brockill, P.; Brooks, A. F.; Brown, A.D.; Brown, D.; Brown, N. M.; Buchanan, C. C.; Buikema, A.; Bulik, T.; Bulten, H. J.; Buonanno, A.; Buskulic, D.; Buy, C.; Byer, R. L.; Cadonati, L.; Cagnoli, G.; Cahillane, C.; Bustillo, J. Calderon; Callister, T. A.; Calloni, E.; Camp, J. B.; Cannon, K. C.; Cao, J.; Capano, C. D.; Capocasa, E.; Carbognani, F.; Caride, S.; Diaz, J. Casanueva; Casentini, C.; Caudill, S.; Cavaglia, M.; Cavalier, F.; Cavalieri, R.; Cella, G.; Cepeda, C. B.; Baiardi, L. Cerboni; Cerretani, G.; Cesarini, E.; Chakraborty, R.; Chalermsongsak, T.; Chamberlin, S. J.; Chan, M.; Chao, D. S.; Charlton, P.; Chassande-Mottin, E.; Chen, H. Y.; Chen, Y; Cheng, C.; Chincarini, A.; Chiummo, A.; Cho, H. S.; Cho, M.; Chow, J. H.; Christensen, N.; Chu, Qian; Chua, S. E.; Chung, E.S.; Ciani, G.; Clara, F.; Clark, J. A.; Cleva, F.; Coccia, E.; Cohadon, P. -F.; Colla, A.; Collette, C. G.; Cominsky, L.; Constancio, M., Jr.; Conte, A.; Conti, L.; Cook, D.; Corbitt, T. R.; Cornish, N.; Corsi, A.; Cortese, S.; Costa, A.C.; Coughlin, M. W.; Coughlin, S. B.; Coulon, J. -P.; Countryman, S. T.; Couvares, P.; Cowan, E. E.; Coward, D. M.; Cowart, M. J.; Coyne, D. C.; Coyne, R.; Craig, K.; Creighton, J. D. E.; Cripe, J.; Crowder, S. G.; Cumming, A.; Cunningham, A.L.; Cuoco, E.; Dal Canton, T.; Danilishin, S. L.; D'Antonio, S.; Danzmann, K.; Darman, N. S.; Dattilo, V.; Dave, I.; Daveloza, H. P.; Davier, M.; Davies, G. S.; Daw, E. J.; Day, R.; Debra, D.; Debreczeni, G.; Degallaix, J.; De laurentis, M.; Deleglise, S.; Del Pozzo, W.; Denker, T.; Dent, T.; Dereli, H.; Dergachev, V.A.; DeRosa, R. T.; DeRosa, R. T.; DeSalvo, R.; Dhurandhar, S.; Diaz, M. C.; Di Fiore, L.; Giovanni, M.G.; Di Lieto, A.; Di Pace, S.; Di Palma, I.; Di Virgilio, A.; Dojcinoski, G.; Dolique, V.; Donovan, F.; Dooley, K. L.; Doravari, S.; Douglas, R.; Downes, T. P.; Drago, M.; Drever, R. W. P.; Driggers, J. C.; Du, Z.; Ducrot, M.; Dwyer, S. E.; Edo, T. B.; Edwards, M. C.; Effler, A.; Eggenstein, H. -B.; Ehrens, P.; Eichholz, J.; Eikenberry, S. S.; Engels, W.; Essick, R. C.; Etzel, T.; Evans, T. M.; Evans, T. M.; Everett, R.; Factourovich, M.; Fafone, V.; Fair, H.; Fairhurst, S.; Fan, X.M.; Fang, Q.; Farinon, S.; Farr, B.; Farr, W. M.; Favata, M.; Fays, M.; Fehrmann, H.; Fejer, M. M.; Ferrante, I.; Ferreira, E. C.; Ferrini, F.; Fidecaro, F.; Fiori, I.; Fiorucci, D.; Fisher, R. P.; Flaminio, R.; Fletcher, M; Fournier, J. -D.; Franco, S; Frasca, S.; Frasconi, F.; Frei, Z.; Freise, A.; Frey, R.; Frey, V.; Fricke, T. T.; Fritschel, P.; Frolov, V. V.; Fulda, P.; Fyffe, M.; Gabbard, H. A. G.; Gair, J. R.; Gammaitoni, L.; Gaonkar, S. G.; Garufi, F.; Gatto, A.; Gaur, G.; Gehrels, N.; Gemme, G.; Gendre, B.; Genin, E.; Gennai, A.; George, J.; Gergely, L.; Germain, V.; Ghosh, Archisman; Ghosh, S.; Giaime, J. A.; Giardina, K. D.; Giazotto, A.; Gill, K.P.; Glaefke, A.; Goetz, E.; Goetz, R.; Gondan, L.; Gonzalez, Idelmis G.; Gonzalez Castro, J. M.; Gopakumar, A.; Gordon, N. A.; Gorodetsky, M. L.; Gossan, S. E.; Lee-Gosselin, M.; Gouaty, R.; Graef, C.; Graff, P. B.; Granata, M.; Grant, A.; Gras, S.; Gray, C.M.; Greco, G.; Green, A. C.; Groot, P.; Grote, H.; Grunewald, S.; Guidi, G. M.; Guo, X.; Gupta, A.; Gupta, M. K.; Gushwa, K. E.; Gustafson, E. K.; Gustafson, R.; Hacker, J. J.; Buffoni-Hall, R.; Hall, E. D.; Hammond, G.L.; Haney, M.; Hanke, M. M.; Hanks, J.; Hanna, C.; Hannam, M. D.; Hanson, P.J.; Hardwick, T.; Harms, J.; Harry, G. M.; Harry, I. W.; Hart, M. J.; Hartman, M. T.; Haster, C. -J.; Haughian, K.; Heidmann, A.; Heintze, M. C.; Heitmann, H.; Hello, P.; Hemming, G.; Hendry, M.; Heng, I. S.; Hennig, J.; Heptonstall, A. W.; Heurs, M.; Hild, S.; Hoak, D.; Hodge, K. A.; Hofman, D.; Hollitt, S. E.; Holt, K.; Holz, D. E.; Hopkins, P.; Hosken, D. J.; Hough, J.; Houston, E. A.; Howell, E. J.; Hu, Y. M.; Huang, S.; Huerta, E. A.; Huet, D.; Hughey, B.; Husa, S.; Huttner, S. H.; Huynh-Dinh, T.; Idrisy, A.; Indik, N.; Ingram, D. R.; Inta, R.; Isa, H. N.; Isac, J. -M.; Isi, M.; Islas, G.; Isogai, T.; Iyer, B. R.; Izumi, K.; Jacqmin, T.; Jang, D.H.; Jani, K.; Jaranowski, P.; Jawahar, S.; Jimenez-Forteza, F.; Johnson, W.; Jones, I.D.; Jones, R.; Jonker, R. J. G.; Ju, L.; Haris, K.; Kalaghatgi, C. V.; Kalogera, V.; Kandhasamy, S.; Kang, G.H.; Kanner, J. B.; Karki, S.; Kasprzack, M.; Katsavounidis, E.; Katzman, W.; Kaufer, S.; Kaur, T.; Kawabe, K.; Kawazoe, F.; Kefelian, F.; Kehl, M. S.; Keitel, D.; Kelley, D. B.; Kells, W.; Kennedy, R.E.; Key, J. S.; Khalaidovski, A.; Khalili, F. Y.; Khan, I.; Khan., S.; Khan, Z.; Khazanov, E. A.; Kijbunchoo, N.; Kim, C.; Kim, J.; Kim, K.; Kim, Nam-Gyu; Kim, Namjun; Kim, Y.M.; King, E. J.; King, P. J.; Kinzel, D. L.; Kissel, J. S.; Kleybolte, L.; Klimenko, S.; Koehlenbeck, S. M.; Kokeyama, K.; Koley, S.; Kondrashov, V.; Kontos, A.; Korobko, M.; Korth, W. Z.; Kowalska, I.; Kozak, D. B.; Kringel, V.; Krishnan, B.; Krolak, A.; Krueger, C.; Kuehn, G.; Kumar, P.; Kuo, L.; Kutynia, A.; Lackey, B. D.; Landry, M.; Lange, J.; Lantz, B.; Lasky, P. D.; Lazzarini, A.; Lazzaro, C.; Leaci, P.; Leavey, S.; Lebigot, E. O.; Lee, C.H.; Lee, K.H.; Lee, M.H.; Lee, K.; Lenon, A.; Leonardi, M.; Leong, J. R.; Leroy, N.; Letendre, N.; Levin, Y.; Levine, B. M.; Li, T. G. F.; Libson, A.; Littenberg, T. B.; Lockerbie, N. A.; Logue, J.; Lombardi, A. L.; Lord, J. E.; Lorenzini, M.; Loriette, V.; Lormand, M.; Losurdo, G.; Lough, J. D.; Lueck, H.; Lundgren, A. P.; Luo, J.; Lynch, R.; Ma, Y.; MacDonald, T.T.; Machenschalk, B.; MacInnis, M.; Macleod, D. M.; Magna-Sandoval, F.; Magee, R. M.; Mageswaran, M.; Majorana, E.; Maksimovic, I.; Malvezzi, V.; Man, N.; Mandel, I.; Mandic, V.; Mangano, V.; Mansell, G. L.; Manske, M.; Mantovani, M.; Marchesoni, F.; Marion, F.; Marka, S.; Marka, Z.; Markosyan, A. S.; Maros, E.; Martelli, F.; Martellini, L.; Martin, I. W.; Martin, R.M.; Martynov, D. V.; Marx, J. N.; Mason, K.; Masserot, A.; Massinger, T. J.; Masso-Reid, M.; Matichard, F.; Matone, L.; Mavalvala, N.; Mazumder, N.; Mazzolo, G.; McCarthy, R.; McClelland, D. E.; McCormick, S.; McGuire, S. C.; McIntyre, G.; McIver, J.; McManus, D. J.; McWilliams, S. T.; Meacher, D.; Meadors, G. D.; Meidam, J.; Melatos, A.; Mendell, G.; Mendoza-Gandara, D.; Mercer, R. A.; Merilh, E. L.; Merzougui, M.; Meshkov, S.; Messenger, C.; Messick, C.; Meyers, P. M.; Mezzani, F.; Miao, H.; Michel, C.; Middleton, H.; Mikhailov, E. E.; Milano, L.; Miller, J.; Millhouse, M.; Minenkov, Y.; Ming, J.; Mirshekari, S.; Mishra, C.; Mitra, S.; Mitrofanov, V. P.; Mitselmakher, G.; Mittleman, R.; Moggi, A.; Mohan, M.; Mohapatra, S. R. P.; Montani, M.; Moore, B.C.; Moore, J.C.; Moraru, D.; Gutierrez Moreno, M.; Morriss, S. R.; Mossavi, K.; Mours, B.; Mow-Lowry, C. M.; Mueller, C. L.; Mueller, G.; Muir, A. W.; Mukherjee, Arunava; Mukherjee, S.D.; Mukherjee, S.; Mukund, N.; Mullavey, A.; Munch, J.; Murphy, D. J.; Murray, P.G.; Mytidis, A.; Nardecchia, I.; Naticchioni, L.; Nayak, R. K.; Necula, V.; Nedkova, K.; Nelemans, G.; Gutierrez-Neri, M.; Neunzert, A.; Newton-Howes, G.; Nguyen, T. T.; Nielsen, A. B.; Nissanke, S.; Nitz, A.; Nocera, F.; Nolting, D.; Normandin, M. E. N.; Nuttall, L. K.; Oberling, J.; Ochsner, E.; O'Dell, J.; Oelker, E.; Ogin, G. H.; Oh, J.; Oh, S. H.; Ohme, F.; Oliver, M. B.; Oppermann, P.; Oram, Richard J.; O'Reilly, B.; O'Shaughnessy, R.; Ottaway, D. J.; Ottens, R. S.; Overmier, H.; Owen, B. J.; Pai, A.; Pai, S. A.; Palamos, J. R.; Palashov, O.; Palomba, C.; Pal-Singh, A.; Pan, H.; Pankow, C.; Pannarale, F.; Pant, B. C.; Paoletti, F.; Paoli, A.; Papa, M. A.; Paris, H. R.; Parker, W.S; Pascucci, D.; Pasqualetti, A.; Passaquieti, R.; Passuello, D.; Patricelli, B.; Patrick, Z.; Pearlstone, B. L.; Pedraza, M.; Pedurand, R.; Pekowsky, L.; Pele, A.; Penn, S.; Perreca, A.; Phelps, M.; Piccinni, O. J.; Pichot, M.; Piergiovanni, F.; Pierro, V.; Pillant, G.; Pinard, L.; Pinto, I. M.; Pitkin, M.; Poggiani, R.; Popolizio, P.; Post, A.; Powell, J.; Prasad, J.; Predoi, V.; Premachandra, S. S.; Prestegard, T.; Price, L. R.; Prijatelj, M.; Principe, M.; Privitera, S.; Prix, R.; Prodi, G. A.; Prokhorov, L. G.; Puncken, O.; Punturo, M.; Puppo, P.; Puerrer, M.; Qi, H.; Qin, J.; Quetschke, V.; Quintero, E. A.; Quitzow-James, R.; Raab, F. J.; Rabeling, D. S.; Radkins, H.; Raffai, P.; Raja, S.; Rakhmanov, M.; Rapagnani, P.; Raymond, V.; Razzano, M.; Re, V.; Read, J.; Reed, C. M.; Regimbau, T.; Rei, L.; Reid, S.; Reitze, D. H.; Rew, H.; Reyes, S. D.; Ricci, F.; Riles, K.; Robertson, N. A.; Robie, R.; Robinet, F.; Rocchi, A.; Rolland, L.; Rollins, J. G.; Roma, V. J.; Romano, J. D.; Romano, R.; Romanov, G.; Romie, J. H.; Rosinska, D.; Rowan, S.; Ruediger, A.; Ruggi, P.; Ryan, K.A.; Sachdev, P.S.; Sadecki, T.; Sadeghian, L.; Salconi, L.; Saleem, M.; Salemi, F.; Samajdar, A.; Sammut, L.; Sanchez, E. J.; Sandberg, V.; Sandeen, B.; Sanders, J. R.; Sassolas, B.; Sathyaprakash, B. S.; Saulson, P. R.; Sauter, O.; Savage, R. L.; Sawadsky, A.; Schale, P.; Schilling, R.; Schmidt, J; Schmidt, P.; Schnabel, R.B.; Schofield, R. M. S.; Schoenbeck, A.; Schreiber, K.E.C.; Schuette, D.; Schutz, B. F.; Scott, J.; Scott, M.S.; Sellers, D.; Sentenac, D.; Sequino, V.; Sergeev, A.; Serna, G.; Setyawati, Y.; Sevigny, A.; Shaddock, D. A.; Shah, S.; Shahriar, M. S.; Shaltev, M.; Shao, Z.M.; Shapiro, B.; Shawhan, P.; Sheperd, A.; Shoemaker, D. H.; Shoemaker, D. M.; Siellez, K.; Siemens, X.; Sigg, D.; Silva, António Dias da; Simakov, D.; Singer, A; Singer, L. P.; Singh, A.; Singh, R.; Singhal, A.; Sintes, A. M.; Slagmolen, B. J. J.; Smith, R. J. E.; Smith, N.D.; Smith, R. J. E.; Son, E. J.; Sorazu, B.; Sorrentino, F.; Souradeep, T.; Srivastava, A. K.; Staley, A.; Steinke, M.; Steinlechner, J.; Steinlechner, S.; Steinmeyer, D.; Stephens, B. C.; Stevenson-Moore, P.; Stone, J.R.; Strain, K. A.; Straniero, N.; Stratta, G.; Strauss, N. A.; Strigin, S. E.; Sturani, R.; Stuver, A. L.; Summerscales, T. Z.; Sun, L.; Sutton, P. J.; Swinkels, B. L.; Szczepanczyk, M. J.; Tacca, M.D.; Talukder, D.; Tanner, D. B.; Tapai, M.; Tarabrin, S. P.; Taracchini, A.; Taylor, W.R.; Theeg, T.; Thirugnanasambandam, M. P.; Thomas, E. G.; Thomas, M.; Thomas, P.; Thorne, K. A.; Thorne, K. S.; Thrane, E.; Tiwari, S.; Tiwari, V.; Tokmakov, K. V.; Tomlinson, C.; Tonelli, M.; Torres, C. V.; Torrie, C. I.; Toyra, D.; Travasso, F.; Traylor, G.; Trifir, D.; Tringali, M. C.; Trozzo, L.; Tse, M.; Turconi, M.; Tuyenbayev, D.; Ugolini, D.; Unnikrishnan, C. S.; Urban, A. L.; Usman, S. A.; Vahlbruch, H.; Vajente, G.; Valdes, G.; Van Bakel, N.; Van Beuzekom, Martin; Van den Brand, J. F. J.; Van Den Broeck, C.F.F.; Vander-Hyde, D. C.; van der Schaaf, L.; van Heijningen, J. V.; van Veggel, A. A.; Vardaro, M.; Vass, S.; Vasuth, M.; Vaulin, R.; Vecchio, A.; Vedovato, G.; Veitch, J.; Veitch, P.J.; Venkateswara, K.; Verkindt, D.; Vetrano, F.; Vicere, A.; Vinciguerra, S.; Vine, D. J.; Vinet, J. -Y.; Vitale, S.; Vo, T.; Vocca, H.; Vorvick, C.; Voss, D. V.; Vousden, W. D.; Vyatchanin, S. P.; Wade, A. R.; Wade, L. E.; Wade, MT; Walker, M.; Wallace, L.; Walsh, S.; Wang, G.; Wang, H.; Wang, M.; Wang, X.; Wang, Y.; Ward, R. L.; Warner, J.; Was, M.; Weaver, B.; Wei, L. -W.; Weinert, M.; Weinstein, A. J.; Weiss, R.; Welborn, T.; Wen, L.M.; Wessels, P.; Westphal, T.; Wette, K.; Whelan, J. T.; White, D. J.; Whiting, B. F.; Williams, D.R.; Williamson, A. R.; Willis, J. L.; Willke, B.; Wimmer, M. H.; Winkler, W.; Wipf, C. C.; Wittel, H.; Woan, G.; Worden, J.; Wright, J.L.; Wu, G.; Yablon, J.; Yam, W.; Yamamoto, H.; Yancey, C. C.; Yap, M. J.; Yu, H.; Yvert, M.; Zadrozny, A.; Zangrando, L.; Zanolin, M.; Zendri, J. -P.; Zevin, M.; Zhang, F.; Zhang, L.; Zhang, M.; Zhang, Y.; Zhao, C.; Zhou, M.; Zhou, Z.; Zhu, X. J.; Zucker, M. E.; Zuraw, S. E.; Zweizig, J.

    2016-01-01

    The discovery of the gravitational-wave (GW) source GW150914 with the Advanced LIGO detectors provides the first observational evidence for the existence of binary black hole (BH) systems that inspiral and merge within the age of the universe. Such BH mergers have been predicted in two main types of

  4. Multi-messenger observations of a binary neutron star merger

    NARCIS (Netherlands)

    LIGO Scientific Collaboration and Virgo Collaboration; Fermi GBM; INTEGRAL; IceCube Collaboration; AstroSat Cadmium Zinc Telluride Imager Team; IPN Collaboration; The Insight-HXMT Collaboration; ANTARES Collaboration; The Swift Collaboration; AGILE Team; The 1M2H Team; The Dark Energy Camera GW-EM Collaboration and the DES Collaboration; The DLT40 Collaboration; GRAWITA: GRAvitational Wave Inaf TeAm; The Fermi Large Area Telescope Collaboration; ATCA: Australia Telescope Compact Array; ASKAP: Australian SKA Path finder; Las Cumbres Observatory Group; OzGrav; DWF (Deeper, Wider, Faster Program); AST3; CAASTRO Collaborations; The VINROUGE Collaboration; MASTER Collaboration; J-GEM; GROWTH; JAGWAR; Caltech- NRAO; TTU-NRAO; NuSTAR Collaborations; Pan-STARR; The MAXI Team; TZAC Consortium; KU Collaboration; Nordic Optical Telescope; ePESSTO; GROND; Texas Tech University; SALT Group; TOROS: Transient Robotic Observatory of the South Collaboration; The BOOTES Collaboration; MWA: Murchison Wide field Array; The CALET Collaboration; IKI-GW Follow-up Collaboration; H.E.S.S. Collaboration; LOFAR Collaboration; LWA: Long Wavelength Array; HAWC Collaboration; The Pierre Auger Collaboration; ALMA Collaboration; Euro VLBI Team; Pi of the Sky Collaboration; The Chandra Team at McGill University; DFN: Desert Fireball Network; ATLAS; High Time Resolution Universe Survey; RIMAS and RATIR; SKA South Africa / MeerKAT

    2017-01-01

    On 2017 August 17 a binary neutron star coalescence candidate (later designated GW170817) with merger time 12:41:04 UTC was observed through gravitational waves by the Advanced LIGO and Advanced Virgo detectors. The Fermi Gamma-ray Burst Monitor independently detected a gamma-ray burst (GRB 170817A)

  5. THE FATE OF THE COMPACT REMNANT IN NEUTRON STAR MERGERS

    Energy Technology Data Exchange (ETDEWEB)

    Fryer, Chris L. [Department of Physics, The University of Arizona, Tucson, AZ 85721 (United States); Belczynski, Krzysztoff [Astronomical Observatory, University of Warsaw, Al Ujazdowskie 4, 00-478 Warsaw (Poland); Ramirez-Ruiz, Enrico [Department of Astronomy and Astrophysics, University of California, Santa Cruz, CA 95064 (United States); Rosswog, Stephan [The Oskar klein Center, Department of Astronomy, AlbaNova, Stockholm University, SE-106 91 Stockholm (Sweden); Shen, Gang [Institute for Nuclear Theory, University of Washington, Seattle, WA 98195 (United States); Steiner, Andrew W. [Department of Physics and Astronomy, University of Tennessee, Knoxville, TN 37996 (United States)

    2015-10-10

    Neutron star (binary neutron star and neutron star–black hole) mergers are believed to produce short-duration gamma-ray bursts (GRBs). They are also believed to be the dominant source of gravitational waves to be detected by the advanced LIGO and advanced VIRGO and the dominant source of the heavy r-process elements in the universe. Whether or not these mergers produce short-duration GRBs depends sensitively on the fate of the core of the remnant (whether, and how quickly, it forms a black hole). In this paper, we combine the results of Newtonian merger calculations and equation of state studies to determine the fate of the cores of neutron star mergers. Using population studies, we can determine the distribution of these fates to compare to observations. We find that black hole cores form quickly only for equations of state that predict maximum non-rotating neutron star masses below 2.3–2.4 solar masses. If quick black hole formation is essential in producing GRBs, LIGO/Virgo observed rates compared to GRB rates could be used to constrain the equation of state for dense nuclear matter.

  6. On order and chaos in the mergers of galaxies

    Science.gov (United States)

    Vandervoort, Peter O.

    2018-03-01

    This paper describes a low-dimensional model of the merger of two galaxies. The governing equations are the complete sets of moment equations of the first and second orders derived from the collisionless Boltzmann equations representing the galaxies. The moment equations reduce to an equation governing the relative motion of the galaxies, tensor virial equations, and equations governing the kinetic energy tensors. We represent the galaxies as heterogeneous ellipsoids with Gaussian stratifications of their densities, and we represent the mean stellar motions in terms of velocity fields that sustain those densities consistently with the equation of continuity. We reduce and solve the governing equations for a head-on encounter of a dwarf galaxy with a giant galaxy. That reduction includes the effect of dynamical friction on the relative motion of the galaxies. Our criterion for chaotic behaviour is sensitivity of the motion to small changes in the initial conditions. In a survey of encounters and mergers of a dwarf galaxy with a giant galaxy, chaotic behaviour arises mainly in non-linear oscillations of the dwarf galaxy. The encounter disrupts the dwarf, excites chaotic oscillations of the dwarf, or excites regular oscillations. Dynamical friction can drive a merger to completion within a Hubble time only if the dwarf is sufficiently massive. The survey of encounters and mergers is the basis for a simple model of the evolution of a `Local Group' consisting of a giant galaxy and a population of dwarf galaxies bound to the giant as satellites on radial orbits.

  7. The Scanfin Merger: Managing Organisational Change (Case C)

    DEFF Research Database (Denmark)

    Smith, Pernille; Carugati, Andrea; Giangreco, Antonio

    This is the third of a four-case series (408-115-1, 908-025-1, 308-343-1 and 608-037-1). This case is about resistance to organisational change in relation to a merger. The case describes a major organisational change in a newly established department, which has been instituted to speed up the in...

  8. THE ELM SURVEY. II. TWELVE BINARY WHITE DWARF MERGER SYSTEMS

    International Nuclear Information System (INIS)

    Kilic, Mukremin; Brown, Warren R.; Kenyon, S. J.; Prieto, Carlos Allende; Agueeros, M. A.; Heinke, Craig

    2011-01-01

    We describe new radial velocity and X-ray observations of extremely low-mass white dwarfs (ELM WDs, ∼0.2 M sun ) in the Sloan Digital Sky Survey Data Release 4 and the MMT Hypervelocity Star survey. We identify four new short period binaries, including two merger systems. These observations bring the total number of short period binary systems identified in our survey to 20. No main-sequence or neutron star companions are visible in the available optical photometry, radio, and X-ray data. Thus, the companions are most likely WDs. Twelve of these systems will merge within a Hubble time due to gravitational wave radiation. We have now tripled the number of known merging WD systems. We discuss the characteristics of this merger sample and potential links to underluminous supernovae, extreme helium stars, AM CVn systems, and other merger products. We provide new observational tests of the WD mass-period distribution and cooling models for ELM WDs. We also find evidence for a new formation channel for single low-mass WDs through binary mergers of two lower mass objects.

  9. Capitalisation, Mergers and the Nigerian Economy: A Historical ...

    African Journals Online (AJOL)

    This paper, seeks to give a historical insight into the story of mergers, capitalisation and the Nigerian economy, beginning from the earliest British economic adventures in the country in the 19th century up to the present time. It also examines the impact of the recent bank re-capitalisation exercise in the country and the ...

  10. The Impact of Belonging Groups in an Institutional Merger Process

    DEFF Research Database (Denmark)

    Broeng, Susanne

    2017-01-01

    for the discussions and worker's disaffection and anxieties about job security were brought to light in the research process. The analysis of the research process is informed by psychodynamic system theory and focuses on individual and group processes, and on the leaders' roles in the merger process. This leads...

  11. The Effect of Merger on Performance: Evidence from the UAE

    African Journals Online (AJOL)

    user

    The study examines the effect of the merger on the wealth of shareholders and ... Consolidation of business entities is a world-wide phenomenon. One of the tools for ..... The expected rate of return on the security is found out using the Market.

  12. Mergers and Acquisitions in Selected Frontier Markets of Asia

    Directory of Open Access Journals (Sweden)

    Farhan Ahmed

    2018-01-01

    Full Text Available This paper aims to provide contemporary and comparative information on mergers and acquisition activities. The findings have shown that Vietnam is very active in mergers and acquisitions activities, for instance in Vietnam 2946 transactions were announced, and 2114 completed in the last decade. Furthermore, Vietnam has a distinctive element of merging local firms; Out of top 20 deals, in 18 transactions target firms and acquirer both were from Vietnam. On the other hand, Sri Lanka has the highest percentage of completed M&A transactions in the last decade compared to Pakistan and Vietnam. In case of Pakistan, the findings suggest that Pakistan has had the highest number of value-based Mergers and Acquisitions deals in comparison to Sri Lanka and Vietnam. Interestingly, even though the number of transactions is higher compared to Sri Lanka and Vietnam; however, mergers and acquisition have had no significant impact on the profitability of Pakistan companies.DOI: 10.15408/sjie.v7i1.6074

  13. EFFECTIVE SCHEMES OF FINANCING MERGERS AND ACQUISITIONS OF INTERNATIONAL CORPORATIONS

    Directory of Open Access Journals (Sweden)

    Vladimir Momot

    2013-10-01

    Full Text Available The article considers the question of a choice of the optimum scheme of financing mergers and acquisitions (M&As in the environment of international corporations. Methods and ways of financing integration transactions are considered and key factors and system processes of realization of these transactions are defined.

  14. Can mergers-in-progress be unmerged in speech accommodation?

    Directory of Open Access Journals (Sweden)

    Molly eBabel

    2013-09-01

    Full Text Available This study examines spontaneous phonetic accommodation of a dialect with distinct categories by speakers who are in the process of merging those categories. We focus on the merger of the NEAR and SQUARE lexical sets in New Zealand English, presenting New Zealand participants with an unmerged speaker of Australian English. Mergers-in-progress are a uniquely interesting sound change as they showcase the asymmetry between speech perception and production. Yet, we examine mergers using spontaneous phonetic imitation, which is phenomenon that is necessarily a behavior where perceptual input influences speech production. Phonetic imitation is quantified by a perceptual measure and an acoustic calculation of mergedness using a Pillai-Bartlett trace. The results from both analyses indicate spontaneous phonetic imitation is moderated by extra-linguistic factors such as the valence of assigned conditions and social bias. We also find evidence for a decrease in the degree of mergedness in post-exposure productions. Taken together, our results suggest that under the appropriate conditions New Zealanders phonetically accommodate to Australian English and that in the process of speech imitation, mergers-in-progress can, but do not consistently, become less merged.

  15. Information Quality and Risk Around Mergers and Acquisition ...

    African Journals Online (AJOL)

    We consolidate our understanding of the link between risk and quality of new around information intensive periods for a sample of 169 stocks from London Stock Exchange by using mergers and acquisitions announcements as a source of unscheduled news disclosure. We document that volatility of stock returns around ...

  16. Charting a path to efficiencies following a merger.

    Science.gov (United States)

    Klar, Brandon; Shufelt, Gregory P

    2015-06-01

    Health systems can access the full range of opportunities for enhanced efficiencies following a merger or an acquisition by pursuing the following five-step process, which constitutes the development of a business plan of operational efficiencies: Secure executive sponsorship and involvement. Establish an integration steering committee. Develop guiding principles. Identify and validate potential efficiencies. Develop an action plan for each department and function.

  17. 48 CFR 970.4401-3 - Advance notification.

    Science.gov (United States)

    2010-10-01

    ... subcontracts relating to functions derived from the Atomic Energy Commission. (c) The advance notice shall... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Advance notification. 970... 970.4401-3 Advance notification. (a) Contracting officers shall assure that the written description of...

  18. 43 CFR 29.8 - Notification and advertisement.

    Science.gov (United States)

    2010-10-01

    ... 43 Public Lands: Interior 1 2010-10-01 2010-10-01 false Notification and advertisement. 29.8... LIABILITY FUND § 29.8 Notification and advertisement. (a) As soon as the person in charge of a vessel has... advertisement no later than 45 days from the date the Fund receives notice of the incident and shall continue...

  19. 7 CFR 1412.44 - Notification of base acres.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 10 2010-01-01 2010-01-01 false Notification of base acres. 1412.44 Section 1412.44... through 2012 § 1412.44 Notification of base acres. The operator and owners of record of a farm will be notified in writing of the number of base acres eligible for enrollment in a contract, unless such operator...

  20. 28 CFR 511.14 - Notification of possible search.

    Science.gov (United States)

    2010-07-01

    ... 28 Judicial Administration 2 2010-07-01 2010-07-01 false Notification of possible search. 511.14... ADMINISTRATION GENERAL MANAGEMENT POLICY Searching and Detaining or Arresting Non-Inmates § 511.14 Notification of possible search. We display conspicuous notices at the entrance to all Bureau facilities...

  1. 45 CFR 164.406 - Notification to the media.

    Science.gov (United States)

    2010-10-01

    ... REQUIREMENTS SECURITY AND PRIVACY Notification in the Case of Breach of Unsecured Protected Health Information § 164.406 Notification to the media. (a) Standard. For a breach of unsecured protected health... the discovery of the breach as provided in § 164.404(a)(2), notify prominent media outlets serving the...

  2. 7 CFR 400.204 - Notification of deviation from standards.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 6 2010-01-01 2010-01-01 false Notification of deviation from standards. 400.204... Contract-Standards for Approval § 400.204 Notification of deviation from standards. A Contractor shall advise the Corporation immediately if the Contractor deviates from the requirements of these standards...

  3. 47 CFR 2.107 - Radio astronomy station notification.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 1 2010-10-01 2010-10-01 false Radio astronomy station notification. 2.107....107 Radio astronomy station notification. (a) Pursuant to No. 1492 of Article 13 and Section F of Appendix 3 to the international Radio Regulations (Geneva, 1982), operators of radio astronomy stations...

  4. 39 CFR 281.1 - Notification of firm mailers.

    Science.gov (United States)

    2010-07-01

    ... 39 Postal Service 1 2010-07-01 2010-07-01 false Notification of firm mailers. 281.1 Section 281.1 Postal Service UNITED STATES POSTAL SERVICE ORGANIZATION AND ADMINISTRATION FIRM MAILINGS DAMAGED OR DESTROYED THROUGH TRANSPORTATION ACCIDENTS OR CATASTROPHES § 281.1 Notification of firm mailers. Whenever...

  5. 22 CFR 72.4 - Notifications of death.

    Science.gov (United States)

    2010-04-01

    ... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Notifications of death. 72.4 Section 72.4... DEATHS AND ESTATES Reporting Deaths of United States Nationals § 72.4 Notifications of death. The... legal representative (if any, and if different from the next of kin), of the death of a United States...

  6. 40 CFR 166.7 - User notification; advertising.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 23 2010-07-01 2010-07-01 false User notification; advertising. 166.7... § 166.7 User notification; advertising. (a) A State or Federal agency that obtains an exemption may... received) delivers or offers to deliver any pesticide, to advertise the pesticide for any use authorized by...

  7. 40 CFR 61.09 - Notification of startup.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 8 2010-07-01 2010-07-01 false Notification of startup. 61.09 Section...) NATIONAL EMISSION STANDARDS FOR HAZARDOUS AIR POLLUTANTS General Provisions § 61.09 Notification of startup. (a) The owner or operator of each stationary source which has an initial startup after the effective...

  8. 50 CFR 12.11 - Notification of seizure.

    Science.gov (United States)

    2010-10-01

    ... 50 Wildlife and Fisheries 1 2010-10-01 2010-10-01 false Notification of seizure. 12.11 Section 12... SEIZURE AND FORFEITURE PROCEDURES Preliminary Requirements § 12.11 Notification of seizure. Except where the owner or consignee is personally notified or seizure is made pursuant to a search warrant, the...

  9. 76 FR 17111 - 36(b)(1) Arms Sales Notification

    Science.gov (United States)

    2011-03-28

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal Nos. 11-10] 36(b)(1) Arms Sales Notification AGENCY: Department of Defense, Defense Security Cooperation Agency. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of a section 36(b)(1) arms sales notification. This...

  10. 76 FR 37071 - 36(b)(1) Arms Sales Notification

    Science.gov (United States)

    2011-06-24

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal Nos. 10-03] 36(b)(1) Arms Sales Notification AGENCY: Department of Defense, Defense Security Cooperation Agency. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of a section 36(b)(1) arms sales notification. This...

  11. 75 FR 60424 - 36(b)(1) Arms Sales Notifications

    Science.gov (United States)

    2010-09-30

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal Nos. 10-28 and 10-30] 36(b)(1) Arms Sales Notifications AGENCY: Defense Security Cooperation Agency, DoD. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of two section 36(b)(1) arms sales notifications to...

  12. 76 FR 37075 - 36(b)(1) Arms Sales Notification

    Science.gov (United States)

    2011-06-24

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal Nos. 10-77] 36(b)(1) Arms Sales Notification AGENCY: Department of Defense, Defense Security Cooperation Agency. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of a section 36(b)(1) arms sales notification. This...

  13. 76 FR 43659 - 36(b)(1) Arms Sales Notification

    Science.gov (United States)

    2011-07-21

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal Nos. 11-28] 36(b)(1) Arms Sales Notification AGENCY: Department of Defense, Defense Security Cooperation Agency. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of a section 36(b)(1) arms sales notification. This...

  14. 76 FR 27026 - 36(b)(1) Arms Sales Notification

    Science.gov (United States)

    2011-05-10

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal Nos. 11-13] 36(b)(1) Arms Sales Notification AGENCY: Defense Security Cooperation Agency, Department of Defense. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of a section 36(b)(1) arms sales notification. This...

  15. 76 FR 37078 - 36(b)(1) Arms Sales Notification

    Science.gov (United States)

    2011-06-24

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal Nos. 10-68] 36(b)(1) Arms Sales Notification AGENCY: Department of Defense, Defense Security Cooperation Agency. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of a section 36(b)(1) arms sales notification. This...

  16. 77 FR 60384 - 36(b)(1) Arms Sales Notification

    Science.gov (United States)

    2012-10-03

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal Nos. 12-54] 36(b)(1) Arms Sales Notification AGENCY: Defense Security Cooperation Agency, DoD. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of a section 36(b)(1) arms sales notification. This is...

  17. 75 FR 61440 - 36(b)(1) Arms Sales Notifications

    Science.gov (United States)

    2010-10-05

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal Nos. 10-47, 10-48, and 10-51] 36(b)(1) Arms Sales Notifications AGENCY: Defense Security Cooperation Agency, DoD. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of three section 36(b)(1) arms sales notifications...

  18. 75 FR 29998 - 36(b)(1) Arms Sales Notification

    Science.gov (United States)

    2010-05-28

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal No. 10-22] 36(b)(1) Arms Sales Notification AGENCY: Defense Security Cooperation Agency, DoD. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of a section 36(b)(1) arms sales notification to fulfill the...

  19. 76 FR 29212 - 36(b)(1) Arms Sales Notification

    Science.gov (United States)

    2011-05-20

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal Nos. 10-75] 36(b)(1) Arms Sales Notification AGENCY: Defense Security Cooperation Agency, Department of Defense. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of a section 36(b)(1) arms sales notification. This...

  20. 75 FR 48646 - 36(b)(1) Arms Sales Notifications

    Science.gov (United States)

    2010-08-11

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal Nos. 10-27, 10-31 and 10-41] 36(b)(1) Arms Sales Notifications AGENCY: Defense Security Cooperation Agency, DoD. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of three section 36(b)(1) arms sales notifications...

  1. 75 FR 23247 - 36(b)(1) Arms Sales Notification

    Science.gov (United States)

    2010-05-03

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal No. 10-08] 36(b)(1) Arms Sales Notification AGENCY: Defense Security Cooperation Agency, DoD. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of a section 36(b)(1) arms sales notification to fulfill the...

  2. 75 FR 27314 - 36(b)(1) Arms Sales Notification

    Science.gov (United States)

    2010-05-14

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal No. 10-19] 36(b)(1) Arms Sales Notification AGENCY: Defense Security Cooperation Agency, DoD. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of a section 36(b)(1) arms sales notification to fulfill the...

  3. 75 FR 11865 - 36(b)(1) Arms Sales Notification

    Science.gov (United States)

    2010-03-12

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal No. 10-12] 36(b)(1) Arms Sales Notification AGENCY: Defense Security Cooperation Agency, DoD. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of a section 36(b)(1) arms sales notification to fulfill the...

  4. 75 FR 76418 - 36(b)(1) Arms Sales Notification

    Science.gov (United States)

    2010-12-08

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal Nos. 10-65] 36(b)(1) Arms Sales Notification AGENCY: Department of Defense, Defense Security Cooperation Agency. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of a section 36(b)(1) arms sales notification. This...

  5. 75 FR 76415 - 36(b)(1) Arms Sales Notification

    Science.gov (United States)

    2010-12-08

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal Nos. 10-72] 36(b)(1) Arms Sales Notification AGENCY: Defense Security Cooperation Agency, Department of Defense. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of a section 36(b)(1) arms sales notification. This...

  6. 75 FR 74011 - 36(b)(1) Arms Sales Notification

    Science.gov (United States)

    2010-11-30

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal Nos. 10-24] 36(b)(1) Arms Sales Notification AGENCY: Department of Defense, Defense Security Cooperation Agency. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of a section 36(b)(1) arms sales notification. This...

  7. 75 FR 76412 - 36(b)(1) Arms Sales Notification

    Science.gov (United States)

    2010-12-08

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal Nos. 10-69] 36(b)(1) Arms Sales Notification AGENCY: Defense Security Cooperation Agency, Department of Defense. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of a section 36(b)(1) arms sales notification. This...

  8. 77 FR 60391 - 36(b)(1) Arms Sales Notification

    Science.gov (United States)

    2012-10-03

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal Nos. 12-32] 36(b)(1) Arms Sales Notification AGENCY: Defense Security Cooperation Agency, DoD. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of a section 36(b)(1) arms sales notification. This is...

  9. 75 FR 74014 - 36(b)(1) Arms Sales Notification

    Science.gov (United States)

    2010-11-30

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal Nos. 10-49] 36(b)(1) Arms Sales Notification AGENCY: Department of Defense, Defense Security Cooperation Agency. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of a section 36(b)(1) arms sales notification. This...

  10. 76 FR 27022 - 36(b)(1) Arms Sales Notification

    Science.gov (United States)

    2011-05-10

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal Nos. 11-12] 36(b)(1) Arms Sales Notification AGENCY: Defense Security Cooperation Agency, Department of Defense. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of a section 36(b)(1) arms sales notification. This...

  11. 77 FR 60387 - 36(b)(1) Arms Sales Notification

    Science.gov (United States)

    2012-10-03

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal Nos. 12-26] 36(b)(1) Arms Sales Notification AGENCY: Defense Security Cooperation Agency, DoD. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of a section 36(b)(1) arms sales notification. This is...

  12. 75 FR 76408 - 36(b)(1) Arms Sales Notification

    Science.gov (United States)

    2010-12-08

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal Nos. 10-73] 36(b)(1) Arms Sales Notification AGENCY: Defense Security Cooperation Agency, Department of Defense. ACTION: Notice. SUMMARY: The Department of Defense is publishing the unclassified text of a section 36(b)(1) arms sales notification. This...

  13. 75 FR 41820 - 36(b)(1) Arms Sales Notifications

    Science.gov (United States)

    2010-07-19

    ... DEPARTMENT OF DEFENSE Office of the Secretary [Transmittal Nos. 10-05, 10-11, 10-18, 10-21 and 10-29] 36(b)(1) Arms Sales Notifications AGENCY: Defense Security Cooperation Agency, DoD. ACTION...) arms sales notifications to fulfill the requirements of section 155 of Public Law 104-164, dated 21...

  14. 31 CFR 50.73 - Notification of recoupment.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Notification of recoupment. 50.73 Section 50.73 Money and Finance: Treasury Office of the Secretary of the Treasury TERRORISM RISK INSURANCE PROGRAM Recoupment and Surcharge Procedures § 50.73 Notification of recoupment. (a) Treasury will provide...

  15. 5 CFR 330.706 - Notification of displaced employees.

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 1 2010-01-01 2010-01-01 false Notification of displaced employees. 330... RECRUITMENT, SELECTION, AND PLACEMENT (GENERAL) Interagency Career Transition Assistance Plan for Displaced Employees § 330.706 Notification of displaced employees. (a) In addition to meeting the requirements of...

  16. The USGS Earthquake Notification Service (ENS): Customizable notifications of earthquakes around the globe

    Science.gov (United States)

    Wald, Lisa A.; Wald, David J.; Schwarz, Stan; Presgrave, Bruce; Earle, Paul S.; Martinez, Eric; Oppenheimer, David

    2008-01-01

    At the beginning of 2006, the U.S. Geological Survey (USGS) Earthquake Hazards Program (EHP) introduced a new automated Earthquake Notification Service (ENS) to take the place of the National Earthquake Information Center (NEIC) "Bigquake" system and the various other individual EHP e-mail list-servers for separate regions in the United States. These included northern California, southern California, and the central and eastern United States. ENS is a "one-stop shopping" system that allows Internet users to subscribe to flexible and customizable notifications for earthquakes anywhere in the world. The customization capability allows users to define the what (magnitude threshold), the when (day and night thresholds), and the where (specific regions) for their notifications. Customization is achieved by employing a per-user based request profile, allowing the notifications to be tailored for each individual's requirements. Such earthquake-parameter-specific custom delivery was not possible with simple e-mail list-servers. Now that event and user profiles are in a structured query language (SQL) database, additional flexibility is possible. At the time of this writing, ENS had more than 114,000 subscribers, with more than 200,000 separate user profiles. On a typical day, more than 188,000 messages get sent to a variety of widely distributed users for a wide range of earthquake locations and magnitudes. The purpose of this article is to describe how ENS works, highlight the features it offers, and summarize plans for future developments.

  17. Merger rate of primordial black-hole binaries

    Science.gov (United States)

    Ali-Haïmoud, Yacine; Kovetz, Ely D.; Kamionkowski, Marc

    2017-12-01

    Primordial black holes (PBHs) have long been a candidate for the elusive dark matter (DM), and remain poorly constrained in the ˜20 - 100 M⊙ mass range. PBH binaries were recently suggested as the possible source of LIGO's first detections. In this paper, we thoroughly revisit existing estimates of the merger rate of PBH binaries. We compute the probability distribution of orbital parameters for PBH binaries formed in the early Universe, accounting for tidal torquing by all other PBHs, as well as standard large-scale adiabatic perturbations. We then check whether the orbital parameters of PBH binaries formed in the early Universe can be significantly affected between formation and merger. Our analytic estimates indicate that the tidal field of halos and interactions with other PBHs, as well as dynamical friction by unbound standard DM particles, do not do significant work on nor torque PBH binaries. We estimate the torque due to baryon accretion to be much weaker than previous calculations, albeit possibly large enough to significantly affect the eccentricity of typical PBH binaries. We also revisit the PBH-binary merger rate resulting from gravitational capture in present-day halos, accounting for Poisson fluctuations. If binaries formed in the early Universe survive to the present time, as suggested by our analytic estimates, they dominate the total PBH merger rate. Moreover, this merger rate would be orders of magnitude larger than LIGO's current upper limits if PBHs make a significant fraction of the dark matter. As a consequence, LIGO would constrain ˜10 - 300 M⊙ PBHs to constitute no more than ˜1 % of the dark matter. To make this conclusion fully robust, though, numerical study of several complex astrophysical processes—such as the formation of the first PBH halos and how they may affect PBH binaries, as well as the accretion of gas onto an extremely eccentric binary—is needed.

  18. V1309 Scorpii: merger of a contact binary

    Science.gov (United States)

    Tylenda, R.; Hajduk, M.; Kamiński, T.; Udalski, A.; Soszyński, I.; Szymański, M. K.; Kubiak, M.; Pietrzyński, G.; Poleski, R.; Wyrzykowski, Ł.; Ulaczyk, K.

    2011-04-01

    Context. Stellar mergers are expected to take place in numerous circumstences in the evolution of stellar systems. In particular, they are considered as a plausible origin of stellar eruptions of the V838 Mon type. V1309 Sco is the most recent eruption of this type in our Galaxy. The object was discovered in September 2008. Aims: Our aim is to investigate the nature of V1309 Sco. Methods: V1309 Sco has been photometrically observed in course of the OGLE project since August 2001. We analyse these observations in different ways. In particular, periodogram analyses were done to investigate the nature of the observed short-term variability of the progenitor. Results: We find that the progenitor of V1309 Sco was a contact binary with an orbital period of ~1.4 day. This period was decreasing with time. The light curve of the binary was also evolving, indicating that the system evolved towards its merger. The violent phase of the merger, marked by the systematic brightenning of the object, began in March 2008, i.e. half a year before the outburst discovery. We also investigate the observations of V1309 Sco during the outburst and the decline and show that they can be fully accounted for within the merger hypothesis. Conclusions: For the first time in the literature we show from direct observations that contact binaries indeed end up by merging into a single object, as was suggested in numerous theoretical studies of these systems. Our study also shows that stellar mergers indeed result in eruptions of the V838 Mon type. Based on observations obtained with the 1.3-m Warsaw telescope at the Las Campanas Observatory of the Carnegie Institution of Washington. The photometric data analysed in the present paper are available from the OGLE Internet archive: ftp://ogle.astrouw.edu.pl/ogle/ogle3/V1309_SCO

  19. Search for Post-merger Gravitational Waves from the Remnant of the Binary Neutron Star Merger GW170817

    NARCIS (Netherlands)

    Abbott, B. P.; Abbott, R.; Abbott, T. D.; Acernese, F.; Ackley, K.; Adams, C.; Adams, T.; Addesso, P.; Adhikari, R. X.; Adya, V. B.; Affeldt, C.; Afrough, M.; Agarwal, B.; Agathos, M.; Agatsuma, K.; Aggarwal, N.; Aguiar, O. D.; Aiello, L.; Ain, A.; Ajith, P.; Allen, B.; Allen, G.; Allocca, A.; Altin, P. A.; Amato, A.; Ananyeva, A.; Anderson, S. B.; Anderson, W. G.; Angelova, S. V.; Antier, S.; Appert, S.; Arai, K.; Araya, M. C.; Areeda, J. S.; Arnaud, N.; Arun, K. G.; Ascenzi, S.; Ashton, G.; Ast, M.; Aston, S. M.; Astone, P.; Atallah, D. V.; Aufmuth, P.; Aulbert, C.; AultONeal, K.; Austin, C.; Avila-Alvarez, A.; Babak, S.; Bacon, P.; Bader, M. K. M.; Bae, S.; Baker, P. T.; Baldaccini, F.; Ballardin, G.; Ballmer, S. W.; Banagiri, S.; Barayoga, J. C.; Barclay, S. E.; Barish, B. C.; Barker, D.; Barkett, K.; Barone, F.; Barr, B.; Barsotti, L.; Barsuglia, M.; Barta, D.; Bartlett, J.; Bartos, I.; Bassiri, R.; Basti, A.; Batch, J. C.; Bawaj, M.; Bayley, J. C.; Bazzan, M.; Becsy, B.; Beer, C.; Bejger, M.; Belahcene, I.; Bell, A. S.; Berger, B. K.; Bergmann, G.; Bernuzzi, S.; Bero, J. J.; Berry, C. P. L.; Bersanetti, D.; Bertolini, A.; Betzwieser, J.; Bhagwat, S.; Bhandare, R.; Bilenko, I. A.; Billingsley, G.; Billman, C. R.; Birch, J.; Birney, R.; Birnholtz, O.; Biscans, S.; Biscoveanu, S.; Bisht, A.; Bitossi, M.; Biwer, C.; Bizouard, M. A.; Blackburn, J. K.; Blackman, J.; Blair, C. D.; Blair, D. G.; Blair, R. M.; Bloemen, S.; Bock, O.; Bode, N.; Boer, M.; Bogaert, G.; Bohe, A.; Bondu, F.; Bonilla, E.; Bonnand, R.; Boom, B. A.; Bork, R.; Boschi, V.; Bose, S.; Bossie, K.; Bouffanais, Y.; Bozzi, A.; Bradaschia, C.; Brady, P. R.; Branchesi, M.; Brau, J. E.; Briant, T.; Brillet, A.; Brinkmann, M.; Brisson, V.; Brockill, P.; Broida, J. E.; Brooks, A. F.; Brown, D. A.; Brown, D. D.; Brunett, S.; Buchanan, C. C.; Buikema, A.; Bulik, T.; Bulten, H. J.; Buonanno, A.; Buskulic, D.; Buy, C.; Byer, R. L.; Cabero, M.; Cadonati, L.; Cagnoli, G.; Cahillane, C.; Bustillo, J. Calderon; Callister, T. A.; Calloni, E.; Camp, J. B.; Canepa, M.; Canizares, P.; Cannon, K. C.; Cao, H.; Cao, J.; Capano, C. D.; Capocasa, E.; Carbognani, F.; Caride, S.; Carney, M. F.; Diaz, J. Casanueva; Casentini, C.; Caudill, S.; Cavaglia, M.; Cavalier, F.; Cavalieri, R.; Cella, G.; Cepeda, C. B.; Cerda-Duran, P.; Cerretani, G.; Cesarini, E.; Chamberlin, S. J.; Chan, M.; Chao, S.; Charlton, P.; Chase, E.; Chassande-Mottin, E.; Chatterjee, D.; Cheeseboro, B. D.; Chen, H. Y.; Chen, X.; Chen, Y.; Cheng, H. -P.; Chia, H.; Chincarini, A.; Chiummo, A.; Chmiel, T.; Cho, H. S.; Cho, M.; Chow, J. H.; Christensen, N.; Chu, Q.; Chua, A. J. K.; Chua, S.; Chung, A. K. W.; Chung, S.; Ciani, G.; Ciolfi, R.; Cirelli, C. E.; Cirone, A.; Clara, F.; Clark, J. A.; Clearwater, P.; Cleva, F.; Cocchieri, C.; Coccia, E.; Cohadon, P. -F.; Cohen, D.; Colla, A.; Collette, C. G.; Cominsky, L. R.; Constancio, M., Jr.; Conti, L.; Cooper, S. J.; Corban, P.; Corbitt, T. R.; Cordero-Carrion, I.; Corley, K. R.; Corsi, A.; Cortese, S.; Costa, C. A.; Coughlin, M. W.; Coughlin, S. B.; Coulon, J. -P.; Countryman, S. T.; Couvares, P.; Covas, P. B.; Cowan, E. E.; Coward, D. M.; Cowart, M. J.; Coyne, D. C.; Coyne, R.; Creighton, J. D. E.; Creighton, T. D.; Cripe, J.; Crowder, S. G.; Cullen, T. J.; Cumming, A.; Cunningham, L.; Cuoco, E.; Dal Canton, T.; Dalya, G.; Danilishin, S. L.; D'Antonio, S.; Danzmann, K.; Dasgupta, A.; Costa, C. F. Da Silva; Dattilo, V.; Dave, I.; Davier, M.; Davis, D.; Daw, E. J.; Day, B.; De, S.; DeBra, D.; Degallaix, J.; De Laurentis, M.; Deleglise, S.; Del Pozzo, W.; Demos, N.; Denker, T.; Dent, T.; De Pietri, R.; Dergachev, V.; De Rosa, R.; DeRosa, R. T.; De Rossi, C.; DeSalvo, R.; de Varona, O.; Devenson, J.; Dhurandhar, S.; Diaz, M. C.; Dietrich, T.; Di Fiore, L.; Di Giovanni, M.; Di Girolamo, T.; Di Lieto, A.; Di Pace, S.; Di Palma, I.; Di Renzo, F.; Doctor, Z.; Dolique, V.; Donovan, F.; Dooley, K. L.; Doravari, S.; Dorrington, I.; Douglas, R.; Alvarez, M. Dovale; Downes, T. P.; Drago, M.; Dreissigacker, C.; Driggers, J. C.; Du, Z.; Ducrot, M.; Dupej, P.; Dwyer, S. E.; Edo, T. B.; Edwards, M. C.; Effler, A.; Eggenstein, H. -B.; Ehrens, P.; Eichholz, J.; Eikenberry, S. S.; Eisenstein, R. A.; Essick, R. C.; Estevez, D.; Etienne, Z. B.; Etzel, T.; Evans, M.; Evans, T. M.; Factourovich, M.; Fafone, V.; Fair, H.; Fairhurst, S.; Fan, X.; Farinon, S.; Farr, B.; Farr, W. M.; Fauchon-Jones, E. J.; Favata, M.; Fays, M.; Fee, C.; Fehrmann, H.; Feicht, J.; Fejer, M. M.; Fernandez-Galiana, A.; Ferrante, I.; Ferreira, E. C.; Ferrini, F.; Fidecaro, F.; Finstad, D.; Fiori, I.; Fiorucci, D.; Fishbach, M.; Fisher, R. P.; Fitz-Axen, M.; Flaminio, R.; Fletcher, M.; Flynn, E.; Fong, H.; Font, J. A.; Forsyth, P. W. F.; Forsyth, S. S.; Fournier, J. -D.; Frasca, S.; Frasconi, F.; Frei, Z.; Freise, A.; Frey, R.; Frey, V.; Fries, E. M.; Fritschel, P.; Frolov, V. V.; Fulda, P.; Fyffe, M.; Gabbard, H.; Gadre, B. U.; Gaebel, S. M.; Gair, J. R.; Gammaitoni, L.; Ganija, M. R.; Gaonkar, S. G.; Garcia-Quiros, C.; Garufi, F.; Gateley, B.; Gaudio, S.; Gaur, G.; Gayathri, V.; Gehrels, N.; Gemme, G.; Genin, E.; Gennai, A.; George, D.; George, J.; Gergely, L.; Germain, V.; Ghonge, S.; Ghosh, Abhirup; Ghosh, Archisman; Ghosh, S.; Giaime, J. A.; Giardina, K. D.; Giazotto, A.; Gill, K.; Glover, L.; Goetz, E.; Goetz, R.; Gomes, S.; Goncharov, B.; Gonzalez, G.; Castro, J. M. Gonzalez; Gopakumar, A.; Gorodetsky, M. L.; Gossan, S. E.; Gosselin, M.; Gouaty, R.; Grado, A.; Graef, C.; Granata, M.; Grant, A.; Gras, S.; Gray, C.; Greco, G.; Green, A. C.; Gretarsson, E. M.; Groot, P.; Grote, H.; Grunewald, S.; Gruning, P.; Guidi, G. M.; Guo, X.; Gupta, A.; Gupta, M. K.; Gushwa, K. E.; Gustafson, E. K.; Gustafson, R.; Halim, O.; Hall, B. R.; Hall, E. D.; Hamilton, E. Z.; Hammond, G.; Haney, M.; Hanke, M. M.; Hanks, J.; Hanna, C.; Hannam, M. D.; Hannuksela, O. A.; Hanson, J.; Hardwick, T.; Harms, J.; Harry, G. M.; Harry, I. W.; Hart, M. J.; Haster, C. -J.; Haughian, K.; Healy, J.; Heidmann, A.; Heintze, M. C.; Heitmann, H.; Hello, P.; Hemming, G.; Hendry, M.; Heng, I. S.; Hennig, J.; Heptonstall, A. W.; Heurs, M.; Hild, S.; Hinderer, T.; Hoak, D.; Hofman, D.; Holt, K.; Holz, D. E.; Hopkins, P.; Horst, C.; Hough, J.; Houston, E. A.; Howell, E. J.; Hreibi, A.; Hu, Y. M.; Huerta, E. A.; Huet, D.; Hughey, B.; Husa, S.; Huttner, S. H.; Huynh-Dinh, T.; Indik, N.; Inta, R.; Intini, G.; Isa, H. N.; Isac, J. -M.; Isi, M.; Iyer, B. R.; Izumi, K.; Jacqmin, T.; Jani, K.; Jaranowski, P.; Jawahar, S.; Jimenez-Forteza, F.; Johnson, W. W.; Jones, D. I.; Jones, R.; Jonker, R. J. G.; Ju, L.; Junker, J.; Kalaghatgi, C. V.; Kalogera, V.; Kamai, B.; Kandhasamy, S.; Kang, G.; Kanner, J. B.; Kapadia, S. J.; Karki, S.; Karvinen, K. 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W.; Lee, K.; Lehmann, J.; Lenon, A.; Leonardi, M.; Leroy, N.; Letendre, N.; Levin, Y.; Li, T. G. F.; Linker, S. D.; Liu, J.; Lo, R. K. L.; Lockerbie, N. A.; London, L. T.; Lord, J. E.; Lorenzini, M.; Loriette, V.; Lormand, M.; Losurdo, G.; Lough, J. D.; Lousto, C. O.; Lovelace, G.; Lueck, H.; Lumaca, D.; Lundgren, A. P.; Lynch, R.; Ma, Y.; Macas, R.; Macfoy, S.; Machenschalk, B.; MacInnis, M.; Macleod, D. M.; Hernandez, I. Magana; Magana-Sandoval, F.; Zertuche, L. Magana; Magee, R. M.; Majorana, E.; Maksimovic, I.; Man, N.; Mandic, V.; Mangano, V.; Mansell, G. L.; Manske, M.; Mantovani, M.; Marchesoni, F.; Marion, F.; Marka, S.; Marka, Z.; Markakis, C.; Markosyan, A. S.; Markowitz, A.; Maros, E.; Marquina, A.; Martelli, F.; Martellini, L.; Martin, I. W.; Martin, R. M.; Martynov, D. V.; Mason, K.; Massera, E.; Masserot, A.; Massinger, T. J.; Masso-Reid, M.; Mastrogiovanni, S.; Matas, A.; Matichard, F.; Matone, L.; Mavalvala, N.; Mazumder, N.; McCarthy, R.; McClelland, D. E.; McCormick, S.; McCuller, L.; McGuire, S. C.; McIntyre, G.; McIver, J.; McManus, D. J.; McNeill, L.; McRae, T.; McWilliams, S. T.; Meacher, D.; Meadors, G. D.; Mehmet, M.; Meidam, J.; Mejuto-Villa, E.; Melatos, A.; Mendell, G.; Mercer, R. A.; Merilh, E. L.; Merzougui, M.; Meshkov, S.; Messenger, C.; Messick, C.; Metzdorff, R.; Meyers, P. M.; Miao, H.; Michel, C.; Middleton, H.; Mikhailov, E. E.; Milano, L.; Miller, A. L.; Miller, B. B.; Miller, J.; Milovich-Goff, M. C.; Minazzoli, O.; Minenkov, Y.; Ming, J.; Mishra, C.; Mitra, S.; Mitrofanov, V. P.; Mitselmakher, G.; Mittleman, R.; Moffa, D.; Moggi, A.; Mogushi, K.; Mohan, M.; Mohapatra, S. R. P.; Montani, M.; Moore, C. J.; Moraru, D.; Moreno, G.; Morriss, S. R.; Mours, B.; Mow-Lowry, C. M.; Mueller, G.; Muir, A. W.; Mukherjee, Arunava; Mukherjee, D.; Mukherjee, S.; Mukund, N.; Mullavey, A.; Munch, J.; Muniz, E. A.; Muratore, M.; Murray, P. G.; Napier, K.; Nardecchia, I.; Naticchioni, L.; Nayak, R. K.; Neilson, J.; Nelemans, G.; Nelson, T. J. N.; Nery, M.; Neunzert, A.; Nevin, L.; Newport, J. M.; Newton, G.; Ng, K. K. Y.; Nguyen, T. T.; Nichols, D.; Nielsen, A. B.; Nissanke, S.; Nitz, A.; Noack, A.; Nocera, F.; Nolting, D.; North, C.; Nuttall, L. K.; Oberling, J.; O'Dea, G. D.; Ogin, G. H.; Oh, J. J.; Oh, S. H.; Ohme, F.; Okada, M. A.; Oliver, M.; Oppermann, P.; Oram, Richard J.; O'Reilly, B.; Ormiston, R.; Ortega, L. F.; O'Shaughnessy, R.; Ossokine, S.; Ottaway, D. J.; Overmier, H.; Owen, B. J.; Pace, A. E.; Page, J.; Page, M. A.; Pai, A.; Pai, S. A.; Palamos, J. R.; Palashov, O.; Palomba, C.; Pal-Singh, A.; Pan, Howard; Pan, Huang-Wei; Pang, B.; Pang, P. T. H.; Pankow, C.; Pannarale, F.; Pant, B. C.; Paoletti, F.; Paoli, A.; Papa, M. A.; Parida, A.; Parker, W.; Pascucci, D.; Pasqualetti, A.; Passaquieti, R.; Passuello, D.; Patil, M.; Patricelli, B.; Pearlstone, B. L.; Pedraza, M.; Pedurand, R.; Pekowsky, L.; Pele, A.; Penn, S.; Perez, C. J.; Perreca, A.; Perri, L. 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    2017-01-01

    The first observation of a binary neutron star (NS) coalescence by the Advanced LIGO and Advanced Virgo gravitational-wave (GW) detectors offers an unprecedented opportunity to study matter under the most extreme conditions. After such a merger, a compact remnant is left over whose nature depends

  20. Notification of change in a data base

    International Nuclear Information System (INIS)

    Nelson, B.C.

    1981-01-01

    The Supervisory Control and Diagnostics System for the Mirror Fusion Test Facility is an event driven system; tasks that handle specific events are active only when those events occur. One method of monitoring and generating events is the data base notification facility; a task can request that it be loaded and started by the dbms if a data element is touched or goes outside of a specified range. The motivations for this facility (along with an example of its use and some specifics regarding how it is done) are presented