Publications in the M&A environment
The Institute for Mergers, Acquisitions and Alliances is a not-for-profit think tank and the only globally recognized association for M&A. We help create a successful M&A culture, from entry to board level.
We are providing world leading research and M&A publications from well known institutions and companies.
‘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
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
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
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
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
by KPMG Boxwood
Businesses merge for many different reasons. Whether it be to increase market share, diversify into different markets, acquire new capabilities, achieve greater scale, reduce costs, respond to changing market dynamics, or purely and simply survival, mergers are usually driven by a strong and compelling rationale. […] Read more
Acquiring an overseas company can open up new markets and business opportunities. However, foreign companies may also include a number of unique human capital considerations that can impact deal value. Latin America, for one, may be a particularly attractive region for foreign acquirers, with a growing middle class and wealth of natural resources. […] Read more
by Ernst & Young
In 2016, the biopharma world is on somewhat unfamiliar footing. After five years of market cap gains and increasingly buoyant capital markets, biotech’s fortunes peaked in 2015. The biotech industry’s cumulative market cap has dropped precipitously over the past nine months. As this year’s Beyond borders report describes, although new records were set in cumulative revenue, net income and R&D spend, growth rates in all three categories have slowed. […] Read more
Coming Together: Getting The Cultural Integration Right Following A Merger Or Acquisition Can Be Crucial For Success
by A.M. Best
David King arrives at M&A integration meetings with laminated sheets of paper. On each page is the rationale behind the merger or acquisition — the “deal thesis.” King, who advises companies on post-M&A integration, wants to make sure management teams keep their eye on the ball, so he hands each team member a copy of the deal thesis. […] Read more
A number of court wins for the Inland Revenue Department (IRD) on the application of New Zealand’s general tax anti-avoidance rule have implications for transactions and structures adopted for inbound investment. For example, the New Zealand Court of Appeal decision in Alesco v CIR involved a taxpayer unsuccessfully appealing a tax avoidance finding on the use of cross-border optional convertible notes as a funding structure. […] Read more