Mergers & Acquisitions (M&A) are important strategic business options for corporations. Yet, the understanding of industry-specific drivers of M&A transactions is more than limited. Characterized by highly fragmented markets, cross-company production structures and increasing international business scope, the construction industry represents an attractive field of research to address questions on M&A motives. Based on comprehensively selected datasets and state-of-the-art empirical methods, the study illustrates the motives, the strategy and the effects of M&A transaction within the construction industry. Overall the analyzed M&A transactions tend to lead to an increase of corporate wealth. Important factors for a positive development comprise the peculiarities of the construction industry, the general market conditions and the nature of many takeovers. Still, the M&A transactions may also cause significant value destruction and may even lead to a failure of a company if an inappropriate strategy is applied.
- XX, 114
- ISBN (PDF)
- ISBN (Hardcover)
- Publication date
- 2011 (April)
- M&A Success Determinants Corporate Finance Strategic Mergers & Acquisition Value Deterioration
- Frankfurt am Main, Berlin, Bern, Bruxelles, New York, Oxford, Wien, 2011. XX, 114 pp., num. tables and graphs