INTERNATIONAL WAVES OF MERGERS AND ACQUISITIONS DEALS


Saratovskii A.D.

Each company has two major ways for growth: either organic growth or through the merging and acquiring of other companies. In spite of the fact that the amount and value of merger and acquisition deals beat the record in the first decade of the 21 century, this activity is not a phenomenon. In this regard, consideration of historical periods, which were characterized by a high level of activity in this area, is a very urgent task. The main objectives of this paper are: to represent theoretical aspects underlying implementation of merger and acquisition deals; to carry out the analysis of the main historical periods of merger and acquisition activity; to analyze the nature and characteristics of each of these stages; to review the current tendencies and global trends of further development in the area of corporate merger and acquisition deals. During the study, the author identifies and structures 6 waves of mergers and acquisitions. For each of these waves the author identifies the characteristics that distinguish this historical period from others. The paper illustrates statistical data in the field of mergers and acquisitions, which allow presenting quantitative and qualitative characteristics of the current global trends, the most important of which is the gradual shift in corporate mergers and acquisitions in the Asia-Pacific region. Keywords: mergers and acquisitions, conglomerate, financial crisis, globalization.

Artem D. Saratovskii, post-graduate Russian Economic University named after G.V. Plekhanov.


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