Geographical studies of corporate behavior tend to overlook reactions from competitors and implicitly equate expansion with success. The paper challenges this tradition by discussing the defense of a troubled department store company against hostile takeover bids by expansionary strategies. The expansion was directed initially towards the bidders' home markets to create potential conflicts with antitrust laws. When the bidders retreated, the expansion was refocused on growth markets to maximize both corporate size and thereby also the financial resources needed for its takeover.
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Risto Laulajainen (1990) studied this question.
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