Ivanov A.E.South Ural State University (National Research University), Chelyabinsk, Russian Federation ivanov.chel@list.ru
Importance The article considers trends in the development of the global M&A market from 1895 to 2015. Objectives The study aims to investigate time periods of global mergers and acquisitions, their causes and slowdown, and to compare development trends in the global and Russian M&A market. Methods I used scientific methods of research, like analysis, synthesis, deduction and induction. The statistical information on the number of M&A in the world and in Russia served as the basic data of the research. Results I identified six waves of M&A and formulated the hypothesis of the seventh wave of M&A in 2014. The study differs from the existing researches in the M&A market by identifying the peak (the year with the largest number of deals) and the bottom (the year with the least number of deals) in each wave. Accurate differentiation of time periods of M&A waves enabled to determine their main features, causes and slowdowns. The paper analyzes trends in the quantity and total value of mergers and acquisitions with participation of Russian companies for 2001–2015. Conclusions and Relevance I conclude on similar development of the global and Russian M&A market before 2014. After 2014, the markets have shown opposite trends due to negative processes in the Russian economy under the influence of economic sanctions and low oil prices. The findings may be used for forecasting the development of the Russian M&A market.
Keywords: merger, acquisition, take-over, business combination, integration
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