Effective Implementation of Cross-border Mergers and Acquisitions : Acquisitions of US Companies by European Buyers

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Authors: Financial Executives Research Foundation

Publisher: Financial Executives Research Foundation

Year: 2003, August

ISBN: 978-1885065575

Content

Cross border acquisitions of US companies have become increasingly important over the last few years, especially as the overall volume of deals in the US continues to evaporate. European buyers have represented a significant portion of this cross border activity. However, successful deal-making across borders today requires more than just an expertise in the laws, economic conditions, cultural differences and “social issues” affecting the target company. The difficult and competitive environment in the current marketplace requires knowledge of the distinctive and sometimes complex characteristics of deal terms and structures, international financing techniques, regulatory and government issues, and human resource issues, as well as tax, valuation and – today’s hot topic – accounting issues.
This report will summarize practices used for effectively implementing cross-border mergers and acquisitions, with a specific focus on the acquisition of US companies by European buyers. The findings of this report will be based upon guidance from and interviews with European multi-national corporations that have been active in acquiring companies in the US market.

Table of Contents

Purpose and Executive Summary

Background and Study Participants

Key Trends and Drivers of US Cross-Border Deals

Study Findings

Conclusions

APPENDICES

About the author and Financial Executives Research Foundation, Inc