Dennis Muilenburg Quotes

We get talent and scale from mergers.

Companies buy customers when they cannot win new business on their own. They merge when their executives do not have a better idea of what to do.

We continue to look at accretive and synergistic acquisitions both in the domestic as well as international markets. Our emphasis, thus, will be on strategic acquisitions, and we will not be doing it just for the sake of making our name bigger.

If guys try to make a bigger company for the sake of size, they don't create value in most cases.

I can well imagine making acquisitions so long as these are complementary to Puma and move it forward.

M&A is always an opportunistic tool to grow a company.

I buy companies for strategic reasons and operate them.

Mergers generate substantial synergies.

Speed is the No. 1 thing. Our core competency has been doing exactly this: buying companies and integrating them quickly.

Understand what you are acquiring and protect it at all costs. You are acquiring people and next-generation products. You are making an investment that together you can grow faster, make more profits, and take more market share.

Mergers and acquisitions, we are always looking for that.

The historical evidence shows that shareholders usually greatly benefit from mergers.

There have been many very successful acquirers, where they've bought up companies, and they've grown their earnings very rapidly, and the stock has appreciated tremendously.

Companies that grow for the sake of growth or that expand into areas outside their core business strategy often stumble. On the other hand, companies that build scale for the benefit of their customers and shareholders more often succeed over time.

Reasonable mergers generate substantial synergies, so that provides for earnings and cash-flow growth even if it doesn't provide for revenue growth, and I think that's a big driver.

Wal-Mart does not do big mergers, though it will buy much smaller competitors in so-called 'tuck-in acquisitions.'

We really wake up every day trying to build businesses. That is the goal of private equity. It's a misnomer out there that private equity profits by shrinking companies. In fact, it's just the opposite. Private equity creates value by growing great companies.

I was very clear why we put these companies together and what our goals were. It was really to allow both Sears and Kmart to compete in what I thought was going to be a more challenging but evolving industry.

By 2002, I realized that what was classically called a rollup strategy was not generally effective, at least not for me.

I love using a targeted acquisition approach in conjunction with a business that has a clear strategy and strong organic growth.

As long as our quality and company continue to get better, by nature, we will get bigger.

Success in M&As comes with executing with vigour along with the obvious right choices that you got to make.

In the pharma space, we have been growing both organically as well as through acquisitions.

In order to grow at this pace, there will have to be a couple of acquisitions along the way. The tricky thing is to grow at this rate and maintain a 40 percent operating margin.

Goodrich is a perfect addition to our Hamilton Sundstrand business. And with a strong portfolio of complementary products, Goodrich also brought great leadership balance, great opportunities to provide more integrated systems.