guuvestВестник университетаVestnik Universiteta1816-42772686-8415State University of Management10.26425/1816-4277-2020-9-5-14guuvest-2382Research ArticleАКТУАЛЬНЫЕ ВОПРОСЫ УПРАВЛЕНИЯCURRENT ISSUES OF MANAGEMENTАнализ глобального и российского рынков слияний и поглощений: тренды, движущие факторы, эффективность сделокGlobal and Russian M&A markets analysis: trends, drivers, deal successhttps://orcid.org/0000-0001-9415-3590КаталкинаМ. Ю.KatalkinaM. Yu.

Каталкина Мария Юрьевна - кандидат экономических наук.

Москва

Katalkina Maria - Candidate of Economic Sciences.

Moscow

m_katalkina@bk.ruФГБОУ ВО Государственный университет управленияРоссияState University of ManagementRussian Federation20200610202009514Copyright © Каталкина М.Ю., 20202020Каталкина М.Ю.Katalkina M.Y.Данная работа распространяется под лицензией Creative Commons Attribution 4.0.This work is licensed under a Creative Commons Attribution 4.0 License.https://vestnik.guu.ru/jour/article/view/2382

Рассмотрена статистика мирового и российского рынков слияний и поглощений (М&Л), а также результаты регулярного исследования ManagementTools & Trends, проводимого Bain & Company, обосновывающие актуальность интеграционных процессов. Проведен анализ актуальных тенденций в сфере слияний и поглощений, в частности, смещение целей сделок от полного контроля над компанией к получению доступа к определенным возможностям, появление сложных корпоративных экосистем, увеличение времени, необходимого для завершения сделки и т. д. Проанализирована успешность и эффективность М&A на основе изучения более десяти различных исследований, проходивших в разное время. Отдельно представлены примеры неудачных интеграций, а также выделены и классифицированы, в зависимости от этапа интеграции, причины неудач слияний и поглощений.

M&A are still relevant and discussing according to global and Russian M&A statistics (value and count) and Management Tools & Trends survey, conducting by Bain & Company since 1993. Based on more than 10 surveys took place in different time M&A deals results were analyzed in different aspects, including top reasons why M&A have not generated expected value. Key M&A trends were analyzed: shift from scale deals to scope deals, complex corporate ecosystems occurring, time to close an M&A deal has risen in the last decade etc. As an illustration a few famous M&A failures were presented with results summary. Most important factors in achieving a successful M&A were defined and grouped in accordance with integration stages.

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The authors declare that there are no conflicts of interest present.