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'Repsol meets YPF': displaying competence in cross-border M&A press releases

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Abstract
Mergers and acquisitions (M&As) are often said to be risky business, especially in cross-border M&As, when an acquiring company faces a possible clash of both corporate and national cultures. This article focuses on the acquisition of the Argentine oil company Yacimientos Petrolíferos Fiscales (YPF) by the Spanish oil company Repsol in 1999. In particular, using a corpus of Repsol’s M&A related press releases, the author demonstrates how the acquiring company draws on forward-looking statements, promotional language, and repetition to discursively display its financial and moral competences to negotiate the acquisition. The analysis will also show how, at a certain moment, Repsol introduces an appeasing antitrust narrative to respond to the hurt (nationalistic) feelings in YPF’s Latin American environment.
Keywords
mergers and acquisitions, M&As, cross-border acquisition, corporate communication, press releases, persuasion, rhetoric

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Please use this url to cite or link to this publication:

Chicago
Vandenberghe, Jasper. 2011. “‘Repsol Meets YPF’: Displaying Competence in Cross-border M&A Press Releases.” JOURNAL OF BUSINESS COMMUNICATION (1973) 48 (4): 373–392.
APA
Vandenberghe, Jasper. (2011). “Repsol meets YPF”: displaying competence in cross-border M&A press releases. JOURNAL OF BUSINESS COMMUNICATION (1973), 48(4), 373–392.
Vancouver
1.
Vandenberghe J. “Repsol meets YPF”: displaying competence in cross-border M&A press releases. JOURNAL OF BUSINESS COMMUNICATION (1973). 2011;48(4):373–92.
MLA
Vandenberghe, Jasper. “‘Repsol Meets YPF’: Displaying Competence in Cross-border M&A Press Releases.” JOURNAL OF BUSINESS COMMUNICATION (1973) 48.4 (2011): 373–392. Print.
@article{2009644,
  abstract     = {Mergers and acquisitions (M\&As) are often said to be risky business, especially in cross-border M\&As, when an acquiring company faces a possible clash of both corporate and national cultures. This article focuses on the acquisition of the Argentine oil company Yacimientos Petrol{\'i}feros Fiscales (YPF) by the Spanish oil company Repsol in 1999. In particular, using a corpus of Repsol{\textquoteright}s M\&A related press releases, the author demonstrates how the acquiring company draws on forward-looking statements, promotional language, and repetition to discursively display its financial and moral competences to negotiate the acquisition. The analysis will also show how, at a certain moment, Repsol introduces an appeasing antitrust narrative to respond to the hurt (nationalistic) feelings in YPF{\textquoteright}s Latin American environment.},
  author       = {Vandenberghe, Jasper},
  issn         = {0021-9436},
  journal      = {JOURNAL OF BUSINESS COMMUNICATION (1973)},
  keyword      = {mergers and acquisitions,M\&As,cross-border acquisition,corporate communication,press releases,persuasion,rhetoric},
  language     = {eng},
  number       = {4},
  pages        = {373--392},
  title        = {'Repsol meets YPF': displaying competence in cross-border M\&A press releases},
  url          = {http://dx.doi.org/10.1177/0021943611414686},
  volume       = {48},
  year         = {2011},
}

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