Mergers and acquisitions as an instrument of creation and growth of business value
The article analyzes trends in the world and Russian M&A (mergers and acquisitions) markets. Reasons for failure in mergers and acquisitions are explored. Creation and growth factors of business value in the integration process are examined. Particular attention is paid to the purposes and characteristics of integration strategies, as well as sources of operational and financial synergy. Performance measurements of mergers and acquisitions deals are suggested. Use of these measurements permits to make management decisions that increase the value of a merged company as well as its competitiveness.