This document reports on a study of the training needs that result from actual or impending corporate takeovers, based on needs assessments at three corporations conducted by students as part of a university class over a period of 10 weeks. The first section describes the study's background and methodology. The qualitative research methodology used in the needs assessments involved framing the problem, gathering data, interpreting it, restating the problem, and cycling through the other processes again to improve reliability and validity. This recycling process occurred several times in each needs assessment. Follow-up interviews were conducted with training personnel in the firms in which the needs assessments initially took place. The second section describes the purposes of the document, which include reporting on changes in the training staff and financial resources provided, newly assigned training goals, and the perspective toward the takeover of those who are directing the training effort. Section 3 describes incidents associated with unwanted and friendly threatened takeovers and addresses possible implications and questions raised. Section 4 deals with the period of adjustment after the takeover, highlighting changes in function, changes in scope and focus, changes in performance standards, potential problems, and changes in corporate culture. Section 5 explores decisions to be made by the trainer, including whether to act or react. Section 6 poses continuing research questions. Section 7 is a short conclusion. (CML)