This essay was the winner of the Fourth Annual Haas Competition sponsored by the Program in Business and Social Policy at U. C., Berkeley. The Competition was designed to give U. Berkeley MBA students an opportunity to demonstrate problem-solving skills. The topic was "What are the social and ethical issues for managers, shareholders, and employees raised by corporate mergers and acquisitions?" The Haas Competition is made possible through a generous gift of the Evelyn & Walter Haas, Jr. Fund.
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