Global Mergers and Acquisitions: Combining Companies Across Borders

ISBN-13: 9781606497746 / Angielski / Miękka / 2014 / 150 str.

Opis

Beginning in the 1990s the number and size of global mergers and acquisitions (M&A) has been increasing. The value of global M&As in 1995, was $980 billion, peaked to $4169 billion in 2007, and then dropped to $2705 billion in 2010. During the same period an increasing number of enterprises from emerging market economies have become active in cross-border merger and acquisitions. The emergence of these enterprises in the international M&A markets are motivated by a desire to achieve competitive advantage through the acquisition of natural resources, brands, technology, and knowledge . Among the most active M&A players from the emerging market countries are the Chinese, the country with which this book will be primarily, though not exclusively, concerned. This book will take the reader through all steps of a global merger or acquisition, including targeting companies, closing optimal deals, enterprise valuation and due diligence. How to optimize deal structures for the host company from the financial, accounting, and tax standpoints of the host country will be discussed along with the importance of first assessing the likelihood of securing approval from the agencies charged with determining the national security implications of the proposed deal. Finally, readers will learn how to maximize shareholder value through executing post-merger initiatives that will harmonize the structure and performance of the transformed enterprise.

This book explains in detail corporate restructuring throughmergers and acquisitions (M&A). It critically examines allfunctions that must be performed in completing an M&Atransaction, as well as domestic and cross-border M&As, internationalfinance, and multinational financial management.Given the increasing importance of China as the secondlargest economy in the world and Chinese companies growingmerger and acquisition activities globally, the authors devotethe last two chapters of the book to Chinas outward foreign directinvestment, cross-border M&A activities, and include casestudies regarding Chinese foreign direct investment.The authors provide detail-oriented tasks including developinga strategy for merger or acquisition, finding a target, conductingdue diligence, valuing the target company, conductingnegotiations, and satisfactorily meeting the most challengingphase of an M&A transaction-to integrate the acquiring andacquired companies.