Company acquisitions are the order of the day in the business world. However, they often do not meet the expectations placed on them. This dissertation focuses on two opposing perspectives that serve to analyze acquisition success or acquisitionfailure: On the one hand, it could be that the management of the acquiring company has possible synergies in mind. On the other hand, there is a risk that management will overestimate its own ability to realize synergies. In this case, there is...