Article Abstract:
There was been a substantial expansion in merger and acquisition activity in Europe in the period Jan 1998 to Dec 1998, with 6,856 deals involving a European target worth $497 billion being completed. Some 86% of all deals completed involved the use of a financial adviser, down by 1.4% from 1997. However, the two leading advisers, Morgan Stanley Dean Witter and Goldman Sachs, saw their share of the European advisery market expand by 12.8% and 10.1% respectively. Some 3,859 transactions worth $273 billion were undertaken within national borders, but cross-border dealmaking is becoming increasingly significant.
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Article Abstract:
Many European food and drink firms are merging to become more competitive in the rapidly changing industry. The food and drink industry has changed due to the reduction in margins in home markets, the globalisation of business and increasing competition from well known branded goods. Albert Fisher Group PLC has reduced its number of small companies by 60% to become more competitive. Friesland Dairy Foods is merging with three Dutch producers. Some international companies choose to merge with domestic producers to gain local expertise whilst opening up new markets.
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Article Abstract:
There were many merger and acquisition deals in Europe in the first half of 1999, especially in telecommunications, banking, industrial goods and automotive components. The number of hostile bids rose, and the high level of failed and contested bids may mean that, at least in banking, mergers and acquisitions may begin to return to the Spanish model of consensus. There will be continued growth in the number of mergers and acquisitions in Europe as conglomerates look to spin off or dispose of non-performing activities.
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