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Mergers and Acquisitions: Types, principles, historical information and empirical evidence from the Greek banking sector

Authors :
Gerasimos G. Rompotis
Source :
AESTIMATIO. 10:2-35
Publication Year :
2015
Publisher :
Instituto Estudios Bursatiles (IEB), 2015.

Abstract

espanolEste articulo describe los tipos y principios fundamentales de las fusiones y adquisiciones, politica estrategica adoptada por muchas companias de todo el mundo en su esfuerzo por expandir su negocio, entrar en nuevos mercados, sectores y paises, asi como por mitigar la competencia de otros rivales. Ademas de la descripcion de los diferentes tipos de fusiones y adquisiciones, se desglosan las motivaciones que subyacen a tales acciones, junto con los obstaculos y contra-incentivos que pudieran hacer fracasar tales acuerdos, asi como se estudia la importante cuestion de su financiacion. A continuacion, se lleva a cabo un breve analisis de las tendencias actuales en el curso de las fusiones y adquisiciones. Posteriormente, el articulo se centra en la ola de recientes adquisiciones en el sector bancario griego, destacando el caso de la absorcion del Emporiki Bank por el Alpha Bank. El analisis realizado proporciona cierta evidencia del efecto positivo en el valor de la cartera de los de los accionistas del Alpha Bank provocado por el anuncio de tal absorcion EnglishThis paper describes the types and main principles of mergers and acquisitions, a strategic policy adopted by many firms worldwide in their efforts to expand their business, enter new markets, sectors and countries as well as to mitigate the competition they face from rivals. In addition to the description of the various types of mergers and acquisitions, the motivations behind such actions are broken down along with the obstacles and counterincentives that can lead to the failure of such deals and the significant issue of financing a merger or an acquisition. A brief analysis of the recent trends in international mergers and acquisitions is subsequently provided. The paper goes on to focus on the recent wave of acquisitions in the Greek banking sector by highlighting the case of Alpha Bank’s takeover of Emporiki Bank. The analysis performed provides some evidence of a positive financial effect for Alpha Bank’s shareholders as a result of the announcement of that takeover

Details

ISSN :
21731926 and 21730164
Volume :
10
Database :
OpenAIRE
Journal :
AESTIMATIO
Accession number :
edsair.doi...........6664f2ec644076f76d1e8c96ef5f09e7
Full Text :
https://doi.org/10.5605/ieb.10.2