The article considers the major integration deals involving Russian companies. It analyzes the 60 largest deals for 2008-2013 with the participation of Russian industrial enterprises and complexes, which resulted in the buyer's financial statements goodwill. To do this, in the first phase of the study the authors summarized the results of annual surveys of integration deals, identified the biggest of them for 2008-2013, which Russian industrial enterprises and complexes attended as sellers or buyers. In the second phase, the authors examined the financial statements of the remaining transactions and excluded acquisitions resulted in no goodwill. In the third phase, the authors carried out a detailed analysis of the financial statements of the companies-buyers that satisfied the criteria of selection of the first and second stages, and identified the exact transaction volumes and values of the recognized in the financial statements goodwill, and its root causes. At the same time, the authors calculated indices of synergetic optimism for each transaction, designed to assess the expectations of buyers to achieve the synergies resulting from the integration transaction and determined as the ratio of the amount of goodwill recognized in the financial statements of the purchaser, to the total cost of the acquisition of an enterprise or a complex. The paper submits the ratings of the most amounts of goodwill deals and the highest index values of synergetic optimism, the rating of overpayment for purchased factories or facilities, the dynamics of average annual index of synergetic optimism and dynamics of average amount of goodwill for transactions with participation of Russian industrial enterprises and complexes. The article can be useful to all those interested in integration processes in the Russian industry.
Keywords: mergers and acquisitions, integration, industry, synergetic effect, synergy, goodwill, synergetic optimism index
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