Publications in the M&A environment

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A Better Way To M&A: Zeroing In On Telecom Value

A Better Way To M&A: Zeroing In On Telecom Value

by McKinsey & Company
With organic growth opportunities narrowing, telecom players need a better way to screen potential M&A targets. A data-rich, heat map–based approach can help. The recent surge in telecom M&A activity raises an important question: which acquisitions will create the most value for your company? Always important, mergers and acquisitions (M&As) have become essential among expansion-minded telecom players in Europe as organic growth opportunities begin to evaporate. […] Read more

iDeal – Defining M&A Analytics

iDeal – Defining M&A Analytics

by Deloitte
The Mergers & Acquisitions (M&A) lifecycle is awash in data. It starts long before the diligence phase and picks up steam when companies share, solicit, and parse information for go or no-go decisions. But the entire M&A lifecycle — negotiations through post-deal, in addition to diligence — is marked by the need to make smarter decisions at what is often an incredibly high rate of speed with a high level of confidence in order to avoid doing a deal you might regret. […] Read more

Global Capital Confidence Barometer – Does Seizing Competitive Advantage Mean Deals Take Center Stage?

Global Capital Confidence Barometer – Does Seizing Competitive Advantage Mean Deals Take Center Stage?

by Ernst & Young
Deals take center stage as companies reinvent their corporate strategy in response to a permanently reshaped landscape. Everything is changing for executives — except the expectations of their investors and stakeholders around higher growth and returns. Profitable growth is a mainstay demand of business. The list of what is changing includes unprecedented technological advances, the blurring of sector lines, uneven geographic growth, workforce dynamics and more geopolitical uncertainty. […] Read more

Global Transportation And Logistics M&A Deals Insights Q3 2016

Global Transportation And Logistics M&A Deals Insights Q3 2016

by PricewaterhouseCoopers
Global transportation and logistics M&A activity remained stable in 2016 with 50+ deals in each quarter, though Q3 2016 was slightly less active. With 50 deals, the quarter saw a decline of 11% in deal volume compared to both Q2 2016 and Q3 2015. It appears general uncertainties related to the US presidential elections, the long-term impact of Brexit, and China’s economic growth paired with reduced forecasts of international trade activity may have impacted recent M&A activity. […] Read more

Transformation Through M&A Integration

Transformation Through M&A Integration

by A.T. Kearney
A major acquisition is not only an opportunity to achieve synergies, but also a valuable “moment in time” to bring about true change. The best leaders get these transformational decisions right. Mergers create both excitement and anxiety for stakeholders, generating not only destabilizing uncertainty, but also malleability, which encourages openness to new ways of working. […] Read more

Global Industrial Manufacturing M&A Deals Insights Q3 2016

Global Industrial Manufacturing M&A Deals Insights Q3 2016

by PricewaterhouseCoopers
The following is an analysis of Global Industrial Manufacturing deals with disclosed value greater than $50 million. Global Industrial Manufacturing M&A deal value for the first nine months of 2016 decreased 10% compared to the first nine months of 2015. This was driven by a 22% decrease in volume period over period. When comparing Q3 2016 vs. Q2 2016 there was double digit growth in both deal value and volume. […] Read more

What Private-Equity Strategy Planners Can Teach Public Companies

What Private-Equity Strategy Planners Can Teach Public Companies

by McKinsey & Company
Successful PE firms model practices that would benefit any multibusiness enterprise —as well as some that break the public-company mold. In many respects, successful private-equity (PE) firms seem to defy economic logic. They acquire most of their businesses through some form of auction, where competitive bidding drives prices above what other potential buyers are willing to pay. […] Read more

Global Engineering And Construction M&A Deals Insights Q3 2016

Global Engineering And Construction M&A Deals Insights Q3 2016

by PricewaterhouseCoopers
Global Engineering and Construction (E&C) M&A deal values continue to reflect softness in 2016 versus prior years, but masking healthy deal volume. While both value and volume declined in Q3 2016 compared to comparable 2015, on a relative year-to-date basis 206 deals through Q3 2016, outpaces 2015 and 2104 (187 and 103, respectively) demonstrating heightened activity for smaller transactions. […] Read more

Effects Of Mergers On Corporate Performance: An Empirical Evaluation Using Ols And The Empirical Bayesian Methods

Effects Of Mergers On Corporate Performance: An Empirical Evaluation Using Ols And The Empirical Bayesian Methods

by Borsa Istanbul
In this paper, we empirically examine the impact of mergers on corporate financial performance in Pakistan using data on the deals occurred during the period 1995-2012. Ordinary least squares (OLS) and empirical Bayesian estimation methods are applied to carry out empirical analysis. The OLS regression results suggest that the merger deals do not have any significant impact on the profitability, liquidity, and leverage position of the firms. […] Read more

Mitigating Human Capital Risks And Unlocking Value From Spin-Offs

Mitigating Human Capital Risks And Unlocking Value From Spin-Offs

by Willis Towers Watson
Spin-offs — corporate transactions in which business units separate from their parent company to become independent entities — are increasingly popular as companies reexamine their business strategies and search for additional ways to boost shareholder returns. Two Willis Towers Watson experts look at the unique human capital challenges associated with spin-offs and the steps organizations can take to minimize the risks and maximize the chances of success for these types of transactions. […] Read more

Asia: Time To Refocus

Asia: Time To Refocus

by Ernst & Young
Companies need a new capital strategy for Asia: one that prioritizes depth in each country rather than breadth of presence across the region. This, the second in a series of briefing papers, discusses how multinational companies should shift from a land-grab strategy in emerging Asia to a focus on profitability. […] Read more

Key Themes Driving Peak US Merger And Acquisition Activity

Key Themes Driving Peak US Merger And Acquisition Activity

by PricewaterhouseCoopers
We believe that nine key themes are driving high levels of M&A activity in asset and wealth management. While some are expected to impact the near term, others will shape future deal activity. Merger and acquisition activity among US asset and wealth managers has recently reached levels matching previous peaks. There are sound strategic reasons for this upsurge. […] Read more

M&A In Communications: Evolving To Gain And Maintain Competitiveness

M&A In Communications: Evolving To Gain And Maintain Competitiveness

by Accenture
When it comes to digital content, today’s consumers have clear but complex demands. They want it fast, they want it integrated and they want it now. Communications companies are the ones on the hook to make all this possible — with simple, easily understood product options at a competitive price. But increasingly, they’re finding their current capabilities straining to meet consumers’ demands. […] Read more

Capturing Synergies In Health System M&A: Are You Leaving Money On The Table?

Capturing Synergies In Health System M&A: Are You Leaving Money On The Table?

by Accenture
US hospitals have been consolidating with enthusiasm. Despite some pullback in 2014, deal volumes grew by 9 percent between 2010 and 2013. Bigger, however, does not automatically equate to better. Accenture research reveals that the synergies achieved from many of these deals have been disappointing. In fact, the average acquiring provider left nearly $25 million per target on the table in 2015: potential cost and revenue synergies that could have been invested in improving access and the total cost of care. […] Read more

Driving Growth And Competitiveness: Can The Power Of Cloud Lift M&A Value Into The Stratosphere?

Driving Growth And Competitiveness: Can The Power Of Cloud Lift M&A Value Into The Stratosphere?

by Accenture
2015 was a banner year for mergers and acquisitions with a record $4.7 trillion in deal activity globally. While deal volume has dipped during the first several months of 2016, the market remains bullish on the role that M&A will continue to play in unlocking value in many industries. Transformative as-a-service capabilities are enabling leading acquirers to capture and lock-in synergies at a depth and speed previously unseen in historic merger integration programs. […] Read more

Asia-Pacific Health Industries 2016: Keeping You Up-To-Date With The Latest Developments

Asia-Pacific Health Industries 2016: Keeping You Up-To-Date With The Latest Developments

by PricewaterhouseCoopers
In recent years there has been a shift in the nature of healthcare, i.e., from reactive to preventative. An integral component of this shift has been the emergence of personalised medicine. Personalised medicine is a model that segments patients by risk of developing a specific disease, based on their genetic profile. This includes, molecular diagnosis and use of biomarkers to segment populations. […] Read more

M&A In Latin America

M&A In Latin America

by Deloitte
Majority of M&A deals in Latin America during 2016 have been intra-regional. Industries such as financial services, consumer business, and energy and resources attracted many large investments in the region. Improving US markets may boost M&A in the region as it was the second largest investor during 2015-2016. However, weak oil and commodity prices may act as deterrents to M&A activity in the region. […] Read more

Deal Capsule: Transactions In Chemicals & Pharmaceuticals July 2016

Deal Capsule: Transactions In Chemicals & Pharmaceuticals July 2016

by KPMG
The number of completed deals remained high in both sectors in HY1 2016. While total deal value for pharmaceuticals decreased, chemicals witnessed a 40% increase in HY1 2016 versus HY1 2015. Pharmaceutical M&A was impacted by stock market volatility, while new US regulatory rules struck down the $160 billion Pfizer-Allergan merger. Oncology and dermatology were key areas of interest for big pharma, who were especially keen on acquiring biotech assets. […] Read more

Taxation Of Cross-Border Mergers And Acquisitions: Saudi Arabia 2014

Taxation Of Cross-Border Mergers And Acquisitions: Saudi Arabia 2014

by KPMG
Although the Saudi Arabian tax regulations do not address taxation of cross-border M&A directly, the Saudi Companies Regulations have an impact on such transactions and the Saudi Capital Market Authority has issued Mergers and Acquisitions Regulations, which set the rules and provide some guidance relating to Saudi-listed companies. […] Read more

Mergers In The Oil Patch: Lessons From Past Downturns

Mergers In The Oil Patch: Lessons From Past Downturns

by McKinsey & Company
Past collapses in oil prices have prompted a deluge of deals. As activity looks set to pick up again, companies that acquire in order to cut costs are likely to be the most successful. Mergers and acquisitions in the oil and gas sector may be coming into fashion again. In the current era of low prices, a confluence of events makes acquiring more attractive. Pricing hedges that had locked buyers into higher prices are rolling off. […] Read more

Automotive M&A Deals Insights – First Half Of 2016

Automotive M&A Deals Insights – First Half Of 2016

by PricewaterhouseCoopers
Automotive M&A deal value for the first half of 2016 (H1 2016) was down 37%, significantly off the pace experienced in 2015. However, with 257 deals, volume was only down 7%. Despite the overall decline in deal value for the first half of 2016, the overall strength of the automotive industry remains strong as global vehicle assembly is expected to grow at a CAGR of 3.3% through 2022. […] Read more

Power Transactions And Trends, Q2 2016

Power Transactions And Trends, Q2 2016

by Ernst & Young
This Q2 2016 edition of Power transactions and trends reviews quarterly deal activity within the power and utilities (P&U) sector and forecasts the trends that will shape future mergers and acquisitions (M&A). When we consider Q2’s most prominent M&A trends, it’s clear that buyers are still seeking “safe bets” amid ongoing sector and global volatility. […] Read more

Capturing Value From M&A In Upstream Oil & Gas

Capturing Value From M&A In Upstream Oil & Gas

by McKinsey & Company
Successful M&A requires both a solid strategy and excellence in integration planning and execution. The collapse in oil price has begun to trigger consolidation in the oil & gas industry, with six large-scale deals already executed. Given stalling cash flows, looming bankruptcies, shrinking capex budgets, and the tremendous war-chests raised by private equity, we expect to see a dynamic M&A environment that fosters creative deal-making — especially for independents and small to midsized entities. […] Read more

Plotting A New Course: The Impact Of Brexit On M&A Activity

Plotting A New Course: The Impact Of Brexit On M&A Activity

by Deloitte
In the aftermath of the EU referendum vote, the reaction from currency and stock markets has been swift. It is clear that Brexit has shaken investor confidence. However, M&A markets are typically driven by longer term decision making processes. Brexit has created uncertainties and some M&A plans are being put on hold. But we think the post-Brexit tumult creates opportunities as well. In the coming months we expect there will be both threats to M&A dealmakers and unique opportunities for them. […] Read more

‘Western’ Professional Ethics Challenged By Foreign Acquisitions: German Managers’ Patterns Of Interpretation Surrounding Chinese And Indian Investors

‘Western’ Professional Ethics Challenged By Foreign Acquisitions: German Managers’ Patterns Of Interpretation Surrounding Chinese And Indian Investors

by Elsevier Ltd.
In times of globalisation managers are often involved in crossborder acquisitions. This contribution analyses how German managers interpret their new business partners after acquisition of their companies by foreign investors from China and India. At first glance, managers appear to extend a cosmopolitan welcome to the new owners. […] Read more

Managing Intangible Property Of Japanese Multinational Companies In M&A Context

Managing Intangible Property Of Japanese Multinational Companies In M&A Context

by KPMG
In recent years, Japanese multinational companies have been acquiring an increasing number of foreign companies or divisions of companies. Although the acquisition of existing foreign companies or business divisions has been an effective means for Japanese multinational companies to quickly expand their business into foreign and new markets, it has created difficulties related to integrating the management of the acquired foreign companies or business divisions. […] Read more

Carve-Outs: The New Darling Of M&A?

Carve-Outs: The New Darling Of M&A?

by Accenture
Last year, Philips NV accepted an offer from private-equity firms to purchase a majority stake in its lighting components and automotive-lighting operations for $2.8 billion. A year before, Mondelēz International sold its coffee business to JAB Holding Co., pocketing a tidy $5 billion in cash. Several years earlier, BP sold its petrochemicals business for $9 billion in cash — as much as $2 billion more than Wall Street analysts had expected. […] Read more

Mergers In A Low-Oil-Price Environment: Proceed With Caution

Mergers In A Low-Oil-Price Environment: Proceed With Caution

by McKinsey & Company
A deal deluge typically follows an oil-price collapse — but hasn’t always created value. Past cycles teach that deals enabling players to lower costs will probably be most valuable in today’s volatile oil-price world. Unlike what happened during previous oil-price collapses, M&A activity has been limited since prices started to fall in 2014. But the signs are that M&A activity may be building, and oil-company management teams should think about what deal strategies they should pursue. […] Read more

Managing The Market’s Reaction To M&A Deals

Managing The Market’s Reaction To M&A Deals

by McKinsey & Company
Announcement effects are a good instant measure of market sentiment but a poor indicator of longer-term value creation. Nothing supports the integration of a major acquisition like the sense that the market has blessed it. Managers watch their company’s share price closely in the days following the public announcement of a deal, if only to reassure themselves that they didn’t overpay and that their efforts to value synergies, plan communications, and navigate legislative hurdles didn’t overlook anything. […] Read more

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