The Russian Market for Mergers and Acquisitions
The Russian Market for Mergers and Acquisitions

Author: Alexander Radygin

Publisher:

Published: 2013

Total Pages: 33

ISBN-13:

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The article deals with the key trends in the development of Russia's market of mergers and acquisitions in 2000s. The quantitative parameters are being analyzed on the basis of data bases for 2003-2008 which are in an open access. New tendencies due to 2008 financial crisis are also considered. The author focuses on the proactive role of the state on the corporate control market. Special consideration was given to the issues of the development of Russia's legal norms system which regulate the market of mergers and acquisitions.

Cross-Border M and As in the Russian Market
Cross-Border M and As in the Russian Market

Author: Daria Patrakeeva

Publisher: LAP Lambert Academic Publishing

Published: 2011-02

Total Pages: 92

ISBN-13: 9783844303124

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The Russian market of cross-border mergers and acquisitions did not receive enough attention in research. Due to lack of studies on this growing market the current work aims to examine the performance of foreign companies acquiring Russian targets in the period of 1994-2009. A sample of 96 transactions was investigated to determine wealth created for bidding companies. Foreign acquirers show positive and statistically significant returns for several event windows. Thus, on average, the results support the argument that cross-border acquisitions in the Russian market create value for acquiring companies. The examination of factors that might influence the performance of bidding companies is also part of this research. The results show that acquirer size and previous acquisition experience have significant negative effect on value created in cross-border acquisitions, while acquirer profitability show a positive significant impact on the stock reaction to the announcement of M&A deals. This book should be particularly useful to professionals working in the field of M&As in the Russian market, students of Business studies, and anyone else interested in this topic.

Corporate Acquisitions and Mergers in Russia
Corporate Acquisitions and Mergers in Russia

Author: Andrei Dontsov

Publisher: Kluwer Law International B.V.

Published: 2020-09-22

Total Pages: 164

ISBN-13: 9403527641

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Derived from Kluwer’s multi-volume Corporate Acquisitions and Mergers, the largest and most detailed database of M&A know-how available anywhere in the world, this work by a highly experienced team from the leading international law firm White & Case provides a concise, practical analysis of current law and practice relating to mergers and acquisitions of public and private companies in Russia. The book offers a clear explanation of each step in the acquisition process from the perspectives of both the purchaser and the seller. Key areas covered include: structuring the transaction; due diligence; contractual protection; consideration; and the impact of applicable company, competition, tax, intellectual property, environmental and data protection law on the acquisition process. Corporate Acquisitions and Mergers is an invaluable guide for both legal practitioners and business executives seeking a comprehensive yet practical analysis of mergers and acquisitions in Russia. Equivalent analyses of M&A law and practice in some 50 other jurisdictions, all contributed by leading law firms, are accessible on-line at www.kluwerlawonline.com under Corporate Acquisitions and Mergers.

Corporate Control Market
Corporate Control Market

Author: Elena Apevalova

Publisher:

Published: 2017

Total Pages: 36

ISBN-13:

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Russia's market for mergers and acquisitions came into being in the early 1990s when mass privatization of state-owned property gained momentum. More specifically, it was not until after the Russian financial crisis of 1998 that mergers and friendly takeovers took place in Russia. Up until then there were 'acquisitions through privatization' that can be regarded as a primary manifestation of the initial stage of building a market for corporate control (from 1992 till the onset of the financial crisis of 1998). Reorganization proceeded privatization in 1/3 of cases, was coupled with privatization in 1/3 of cases and followed privatization in 1/3 of cases. Also, the practice of consolidating Russian assets through both M&A and outsider shareholding was adopted in the mid-1990s. In 1998, the equity of about 40% of surveyed enterprises was partially held by outside corporate shareholders, and more than 13% of those enterprises were integrated with suppliers or consumers.

The Anchoring Effect in Mergers and Acquisitions
The Anchoring Effect in Mergers and Acquisitions

Author: Anastasia Stepanova

Publisher:

Published: 2018

Total Pages: 35

ISBN-13:

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This article examines the presence of the reference price effect in mergers and acquisitions in Russia, which can act as a distortion in investor perception of the influence a deal has on a company. In this study we use the Russian market as a laboratory for the investigation of behavioral effects in a relatively inefficient market. We find a relationship between the acquirer's announcement period return and the proximity of its pre-announcement share price to the 52-week high. The 52-week high serves as a salient anchor even though it is economically irrelevant for valuation purposes. This effect appears to be stronger for deals associated with higher levels of uncertainty. The findings confirm the presence of the anchoring bias in evaluating the effect of a merger or acquisition announcement by Russian investors. We demonstrate a significant anchoring effect even for deals with a blocking (>10%) or a controlling stake (>25%) in an emerging market with a highly concentrated ownership.

Mergers & Acquisitions Review
Mergers & Acquisitions Review

Author: Mark Zerdin

Publisher: Law Business Research Ltd.

Published: 2017-10-31

Total Pages: 766

ISBN-13: 1912377748

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The Mergers & Acquisitions Review, edited by Mark Zerdin of Slaughter and May, seeks to provide a richer understanding of the shape of M&A in the global markets, together with the challenges and opportunities facing market participants. This comes at a time when the international market has seen a boom in dealmaking, with many markets reaching post-crisis peaks and some recording all-time highs. Mega-deals have been at the heart of the expanding market, with companies tapping into cash piles and cheap debt to fund transformational deals. Looking behind the headline figures, however, a number of factors suggest dealmaking may not continue to grow as rapidly as it has done recently. This book examines this topic and more across over 55 jurisdictions, as well as providing more general interest chapters covering the European Union, European Private Equity, M&A Litigation, and Offshore Private Equity. Contributors include: Didier Marti, Bredin Prat; Heinrich Knepper, Hengeler Mueller; Javier Ruiz-Camara Bayo, Uria Menendez.

Сборник статей I межвузовской студенческой научно-практической конференции «Unbalanced Global Economy And Rising Risks»
Сборник статей I межвузовской студенческой научно-практической конференции «Unbalanced Global Economy And Rising Risks»

Author: Сборник статей

Publisher: Litres

Published: 2021-06-17

Total Pages:

ISBN-13: 5040187408

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В сборнике представлены доклады, представленные на межвузовской студенческой научно-практической конференции МГУ «Unbalanced Global Economy and Rising Risks».

Maximizing Corporate Value through Mergers and Acquisitions
Maximizing Corporate Value through Mergers and Acquisitions

Author: Patrick A. Gaughan

Publisher: John Wiley & Sons

Published: 2013-04-01

Total Pages: 352

ISBN-13: 1118237331

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Solid guidance for selecting the correct strategic basis for mergers and acquisitions Examining how M&A fits in corporate growth strategies, Maximizing Corporate Value through Mergers and Acquisitions covers the various strategic reasons for companies entering mergers and acquisitions (M&A), with a look at those that are based on sound strategy, and those that are not. Helps companies decide whether M&As should be used for growth and increased corporate value Explores why M&A deals often fail to deliver what their proponents have represented they would Explains which types of M&A work best and which to avoid With insider guidance on what boards of directors should be aware of when evaluating proposed deals, Maximizing Corporate Value through Mergers and Acquisitions provides a sound foundation for understanding the risks involved in any mergers and acquisitions deal, before it's too late.

Mergers & Acquisitions
Mergers & Acquisitions

Author: Andrew J. Nussbaum

Publisher: Sweet & Maxwell

Published: 2012

Total Pages: 497

ISBN-13: 1908239174

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This title explains the often complex and difficult ideas in legal philosophy clearly and concisely but without over-simplification. It introduces students to the fundamental themes in legal philosophy. It analyses and comments on the writing of the foremost legal theorists, and takes into account the most recent scholarly work.