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Full-Text Articles in Business
2014 M&A Update, Alexandra S. Schmid, Carol M. Sanchez, Stephen R. Goldberg
2014 M&A Update, Alexandra S. Schmid, Carol M. Sanchez, Stephen R. Goldberg
Peer Reviewed Articles
Market conditions for mergers and acquisitions (M&As) remained positive in 2013. Relative economic growth in the U.S. and within specific industry sectors, and positive economic developments in the emerging markets signaled an optimistic outlook for M&A activity. There was a decline in worldwide M&A transactions in the first half of 2013 following a modest gain in 2012 which resulted in an overall slowdown in M&A activities, yet there are positive signs for future M&A growth. Corporate executives and their boards were selective with their investment choices and sought many of their M&A opportunities in the middle market. In this article, …
M&A Update And Cross-Border M&As: Considerations For Middle-Market Firms, Stephen R. Goldberg, Carol M. Sanchez, Alexandra S. Schmid
M&A Update And Cross-Border M&As: Considerations For Middle-Market Firms, Stephen R. Goldberg, Carol M. Sanchez, Alexandra S. Schmid
Peer Reviewed Articles
Global activity in mergers and acquisitions (M&As) has weakened during the past year and a half. With continued concerns about the recovery of the global economy, many large companies were reluctant to close mega-deals. Economic and political events, such as increased fiscal crises in Europe, slowing economic growth in the BRIC countries, and political gridlock in Washington, reduced confidence among many dealmakers. Despite companies’ record cash reserves, many were reluctant to execute new M&A deals. In this article, we discuss global M&A activity in 2011 and the first half of 2012. The article concludes with a discussion of factors for …
M&A Today: Great Challenges, But Great Opportunities, Stephen R. Goldberg, Carol M. Sanchez
M&A Today: Great Challenges, But Great Opportunities, Stephen R. Goldberg, Carol M. Sanchez
Peer Reviewed Articles
The volatility in today’s financial markets creates challenges but also great opportunities for mergers and acquisitions (M&A). In uncertain times, there is a need to play it safe, but for some it is also the ideal time to seize opportunities to make great deals. As companies find distinctive ways to strategically navigate in these turbulent times, many continue to use a two-fold strategy: cut costs and stimulate growth through diversification, which includes M&A. Global M&A activity increased in 2010 and continues to increase in 2011. In this article, we report on Global M&A activity in the first half of 2011, …
2010 M&A Update, Carol M. Sanchez, Christina Seeber, Stephen R. Goldberg
2010 M&A Update, Carol M. Sanchez, Christina Seeber, Stephen R. Goldberg
Peer Reviewed Articles
Most of 2009 was slow for mergers and acquisitions (M&A), due to financial turmoil and economic uncertainty that carried over from late 2008. But the deal market rebounded in the fourth quarter of 2009 and 2010 appears to be much better for M&A than 2009. Yet while the global economy shows signs of recovery, and many buyers and sellers are flush with cash, M&A activity may begin slowly in the United States in 2011 due to uncertainty about the business outlook and potential tax changes. In this article, we briefly review M&A activity in the first half of 2010, and …
Are There Opportunities For Strategic Buyers? M&A Activity In The 2008 Downturn And Trends In 2009, Carol M. Sanchez, Anastasia Nowak, Stephen R. Goldberg
Are There Opportunities For Strategic Buyers? M&A Activity In The 2008 Downturn And Trends In 2009, Carol M. Sanchez, Anastasia Nowak, Stephen R. Goldberg
Peer Reviewed Articles
Global M&A activity declined since the world economic downturn hit in late 2008. Middle-market global M&As were down 26% from 2008, while middle-market domestic deals were down 18%. European M&As fared less well, down 45%, and even Asian deals were down 35% compared to 2008.1 The reasons for the downturn are obvious: both buyers and sellers felt uncertain about the market. Buyers were, and are still, unwilling and often unable to spend, and potential sellers of companies were and are trying to hold on to their companies, fearful of selling at too large a discount.
Strategic M&A’S: Stronger In Tough Times?, Carol M. Sanchez, Stephen R. Goldberg
Strategic M&A’S: Stronger In Tough Times?, Carol M. Sanchez, Stephen R. Goldberg
Peer Reviewed Articles
Global acquisitions were worth $6.5 billion in the first quarter of 2008, were down 44% from the previous quarter, and down 41% from the first quarter of 2007.1 But the value of strategic M&As dropped less, only 33%, while the number of deals rose 8%, and cross-border deals represented 38% of the total value of global M&As. Kroll argues that strategic M&As, while likely to experience some drop in volume in 2008 and until the credit crisis bottoms out, will withstand the pressures of financial markets much better than financial M&As. Strategic M&As are deals conducted by companies that want …
M&A Update: Will The Rebound Stumble?, Carol M. Sanchez, Stephen R. Goldberg
M&A Update: Will The Rebound Stumble?, Carol M. Sanchez, Stephen R. Goldberg
Peer Reviewed Articles
After a multi-year lull, merger and acquisition activity has started again to pick up speed. In 2004, the value of global M&A activity grew 40% to just under $2 trillion, compared to $833 billion in 2003. This is the first time the market has seen such growth since 1998 when it increased 80% from 1997. M&A activity in the post-millennium years weakened because investors were jittery after the dot.com bust and September 11 attacks in the United States. By 2005, it seemed that much of that fear had abated, as M&A activity was strong through June. There were more large …