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In hiring Goldman , Sachsto manage its divestiture strategy, Ford officials were on firmer ground.
"This should be the objective of United and US Airways as part of your divestiture strategy, and certainly of the regulatory bodies reviewing your transaction".
I.B.M. will not comment on those estimates, but it does point to the XIV deal as an example of how its research labs are used to inform the company's merger, acquisition and divestiture strategy.
Nathan's Famous Inc. (Nasdaq: NATH) of Westbury said last week that the divestiture strategy for its Miami Subs restaurants had increased net earnings in the first quarter, which ended June 24, despite lower revenues.
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"They were useless," said McKee, whose international investment banking specialises in mergers, divestitures and strategy.
The Comcast-GE deal was announced December 3. See: "GE-Comcast: What What Did The Shareholders Get?" If General Electric combines its NBC Universal entertainment unit with cable outfit Comcast, it will become the biggest example of what is becoming Chief Executive Jeffrey Immelt's signature strategy: divestiture.
He added that his responsibilities as vice chairman of the Times Company would include real estate, acquisitions and divestitures and online strategies.
Kraft Foods, which is selling Milk-Bone, portrayed the divestiture as part of a strategy to focus on its core food categories.
The foregoing discussion reveals that while the finance literature views divestitures as a solution to the internal and external problems created by self-interested managers running diversified firms, the strategy literature treats divestitures as a proactive tool that value-maximizing managers can use to improve the internal functioning and external perceptions of their firms.
Aon's chief executive, Gregory C. Case, said the divestitures were part of its strategy to exit the lower-margin and more capital-intensive insurance underwriting business.
Most studies of divestitures, whether they appear in the finance or strategy literatures, explore either the motivations for or the implications of divestitures that managers choose to undertake, rather than divestitures that managers are mandated to undertake by some external entity such as a regulatory body.
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