Negotiations after the sale: The roots and ramifications of conflict in an acquisition
通过一家小制造企业被数十亿美元集团收购的案例，分析双方在收购后谈判中的战略与战术冲突，追溯其根源为情感反应（如得失感、不确定性）及管理、文化等不兼容，并总结出影响谈判冲突的通用模型。
Abstract This paper presents a case study of negotiations over the combination of a small manufacturing firm into a multi‐billion dollar conglomerate following its 'white knight' acquisition. It focuses on the strategic and tactical conflicts between the two firms and traces these to the party's emotional reactions to the combination. Feeling of loss versus gain in the two firms, each party's sense of uncertainty and threat, and their moves toward proactive versus reactive control in the combination are analysed to identify the roots of strategic conflict. These feelings, plus incompatibilities in the two company's managements, business systems, corporate cultures, and goals for combination ramify in conflict in the negotiations themselves. The paper concludes with a more generic model illustrating contextual features of combinations that shape human reactions and conflicts in negotiations after the sale.