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Gunter Grittmann
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E-mail: grittmann@zew.de
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Kathrin Böhmer
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The German economy is developing well in 2011, causing an upturn of the mergers and acquisitions (M&A). The negative trend observed in Germany during the last two years appears to be overcome. This is the result of a forecast by the Centre for European Economic Research (ZEW) Mannheim. read more
According to the ZEW-ZEPHYR M&A Index, the global M&A activity has reached this year’s lowest value in November with 97 points. With this value, the indicator in November ranges about 3 points below its initial level of 100 points in January 2000, and nearly on the same level as in May 2009, when it had reached its lowest level so far. A calculated forecast of the further course of the indicator shows that a worldwide decreasing M&A activity can be seen to emerge. A rapid recovery of the global economy and an on-going positive development of the worldwide stock market indexes could imply a trend reversal for the M&A activity. The ZEW-ZEPHYR M&A Index is calculated every month by the Centre for European Economic Research (ZEW) in cooperation with Bureau van Dijk (BvD), and provides an overview of the development of global mergers and acquisitions concluded. read more
In the years after a cartel has been detected, the number of mergers and acquisitions (M&A) in the respective economic sector increase considerably. This indicates a causal relationship between the detection of illegal cartel agreements and the number of M&A activities in the respective sectors. These are the findings of an analysis conducted by the Centre for European Economic Research (ZEW). The analysis is based on decisions on cartels by the European Commission as well as the Zephyr data base by Bureau van Dijk (BvD), which contains information on mergers and acquisitions worldwide. read more
The economic and financial crisis has lead to heavy losses in the worldwide mergers and acquisitions (M&A). However, this development did not stop the buying mood of Chinese firms. In the second half of 2009 alone, Chinese investors engaged in 145 M&A transactions on all continents. Since 2000, this has been the highest number of transactions made by Chinese investors. Regarding their M&A activities abroad, firms in China are particularly interested in companies with access to raw material and industrial engineering companies. Moreover, M&A activities of Russian and Indian investors are gathering momentum again. Acquisition candidates for these investors are, in particular, investment houses, banks and firms in the chemical industry and engineering. These are the findings of a survey conducted by the Centre for European Economic Research (ZEW). The survey is based on the ZEPHYR database by Bureau van Dijk, which includes detailed information on mergers and acquisitions worldwide, initial public offerings and private equity transactions. read more
During the second quarter of 2010, worldwide M&A activities have still not yet recovered from their sharp decline following the outbreak of the financial crisis in 2008. The ZEW-Zephyr M&A Index stands at 118 points in June 2010, standing above its starting point of 100 points in January 2000. However, it is still considerably below its long-time average of 126 points. By the end of the first quarter 2010, the Index had reached even 123 points. "Despite positive economic forecasts, M&A activities have not taken off yet", says Dr. Christoph Grimpe, Senior Researcher at ZEW. "There are no signs for an immediate recovery either." The ZEW-Zephyr M&A-Index is calculated every month by the Centre for European Economic Research (ZEW) and Bureau van Dijk (BvD). The index tracks the development of mergers and acquisitions transactions conducted worldwide. (Further information on how the Index is calculated can be found at the end of press release). read more
The ZEW-Zephyr M&A-Index declines to 110 points in March 2010, standing above its starting point of 100 points in January 2000. However, it now stands considerably below its long-time average of 126 points. In December 2009, the index stood at 134 points. read more
The number and the volume of mergers and acquisitions (M&A) in Greece are declining considerably. In 2008, there were 153 M&A transactions with a value of seven billion euros. In 2009, however, the number of transaction has declined to 102 and the volume has decreased to four billion euros. These are the findings of a survey conducted by the Centre for European Economic Research (ZEW). The survey is based on the Zephyr database by Bureau van Dijk (BvD), which includes detailed information on mergers and acquisitions worldwide. read more
Worldwide activities in mergers and acquisitions (M&A) collapsed dramatically in 2009. Only about 18,500 mergers and acquisitions with majority interests and a total capacity of almost one trillion euro took place in 2009. Therefore, 2009 was the year with the lowest turnovers in this decade. In 2007, more than 22,800 mergers and acquisitions with a total capacity of 1.8 trillion euro took place due to the good economic situation. "In total, the M&A activities increased considerably in the forth quarter of 2009 and therefore improved the bad balance sheet of 2009", explains Dr. Christoph Grimpe, Senior Researcher at ZEW. read more