Abstract
The volume of merger and acquisition (M&A) transactions has soared over the last few years. According to the Thomson Financial (2007), the volume of worldwide M&As declared during 2007 reached US$ 4.5 trillion in announced deals and US$ 3.8 trillion in completed deals, that is, a 24 per cent increase over the previous record set in 2006. Since 2000, the volume of M&A deals has increased by 32 per cent, despite the fall off during the third quarter of 2007 caused by concerns in the credit markets. The M&A phenomenon concerns all countries worldwide (see Table 8.1); in 2007, M&A deals increased by 25 per cent in North America (reaching a volume of almost US$2 trillion over 2007, that is, 52 per cent of the value of M&A deals worldwide), by 18 per cent in Europe (reaching a volume of almost US$1.3 trillion over 2007, that is, 34 per cent of M&A deals by value worldwide) and also strongly increased in the Asia-Pacific area — by 61 per cent (reaching a volume of almost US$0.4 trillion over 2007, that is, 10 per cent of M&A deals by value worldwide).
This chapter is the result of the authors’ continuous cooperation. Sections 1 and 3 can be attributed to Franco Fiordelisi and other paragraphs to Duccio Martelli.
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© 2010 Franco Fiordelisi and Duccio Martelli
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Fiordelisi, F., Martelli, D. (2010). The Impact of Corporate Culture, Efficiency and Geographic Distance on M&A Results: the European Case. In: Fiordelisi, F., Molyneux, P., Previati, D. (eds) New Issues in Financial Institutions Management. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9780230299153_9
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DOI: https://doi.org/10.1057/9780230299153_9
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