This comprehensive volume tackles all aspects of Mergers and Acquisitions activity - including regional concentration of M&As at a global level, the impact of the economic crisis, and theoretical concepts and practical applications.

This document contains papers on the following: recent trends in merger and acquisition activity in Canadian and selected countries; patterns and motivations in Canadian acquisitions abroad; foreign ownership and corporate strategy; foreign multinational enterprises and merger activity in Canada; hostile takeovers; taxation and Canada-U.S. cross-border acquisitions; and mergers and acquisitions and the public interest.

This book examines recent trends towards mergers and acquisitions in Japan, Greater China and Southeast Asia from 1990 to 2004. Comparisons are made among regions and between countries of particular regions. The economic profiles and investment climates of key countries are discussed and many issues are examined from the perspectives of US-based and UK-based investors because they play significant roles in Mergers and Acquisitions activities in all regions of the world. The practices and management strategies in Asia are also compared with those observed in the United States and the United Kingdom where appropriate.

This is a reprint of a 1980 book that deals with foreign companies acquiring American businesses in the 1970s and how they evaluated and negotiated those acquisitions.

We develop and test the hypothesis that foreign direct investment promotes corporate governance spillovers in the host country. Using firm-level data on cross-border mergers and acquisitions (M&A) and corporate governance in 22 countries, we find that cross-border M&As are associated with subsequent improvements in the governance, valuation, and productivity of the target firms’ local rivals. This positive spillover effect is stronger when the acquirer is from a country with stronger shareholder protection and if the target’s industry is more competitive. We conclude that the international market for corporate control promotes the adoption of better corporate governance practices around the world.

Cross-border mergers and acquisitions (CBM&As) activity has become an important vehicle for firms’ internationalization and corporate restructuring over the past three decades. Despite the huge volume of global CBM&A activity, however, there are few books which carefully explore the strategies, motives, and consequences of global mergers and acquisitions. This book discusses and synthesizes the theoretical literature on the motivation and performance of international merger activities. Focusing on the UK as a top acquiring country in the European Union, the authors explore the recent trends in cross-border mergers and acquisitions, motives for cross-border mergers and acquisitions, the mergers integration process, home and host countries’ macroeconomic consequences on mergers and acquisitions, and shareholder’s wealth effects on CBM&A. This book explores and sheds much-needed light on the UK CBM&A market, what drives it, and what lessons can be learned for other regions around the globe.

The authors evaluate the risks and benefits of increased Chinese foreign investment, aiming to improve understanding of its investment patterns and strategy. They consider how U.S. national security might be compromised as well as how the United States and China can benefit from such investment, providing a way to assess national security risks and benefits and examining Chinese investment patterns in both the United States and elsewhere.