Issue 04 - Ernst & Young T Magazine

M&A: The shift from West to East [VIDEO]

ANIMATION: How the rise of emerging markets is shifting the world’s center of gravity eastwards in terms of global mergers and acquisitions.

After many failures, deals are succeeding. Why? [VIDEO]

VIDEO: Scott Moeller & Anna Faelten from Cass Business School talk about how the success rate of M&A deals has changed and the shift in dealmaking maturity.

The involvement of tax – often the difference between winning or losing

The need to extract the maximum possible value from a deal is encouraging companies to consider tax much more carefully.

Assets in need of care and attention

Adverse conditions have led to a rise in distressed assets, such as companies on the brink of failure. But those stepping in to snap up a deal will need to move fast and deal with numerous challenges.

Unloading through carve-outs and spin-offs ahead

Companies keen to focus on core competencies or raise cash are turning to carve-outs.

A shift in the balance of power

Over the past decade, emerging market companies have become increasingly important players in the M&A landscape.

Getting to grips with a shifting policy landscape

Tax policy can play a vital role in determining the success or failure of a cross-border transaction.

Interview with Rio Tinto Global Head of Tax

Janine Juggins talks to T Magazine about the role of the tax director in mergers and acquisitions.

Driving value from transactions

Until recently, tax directors were rarely involved in every stage of a transaction but the quest for value from deals has seen them play a bigger role.

Two views on the resurgence in M&A

In this article, we explore in general terms some of the differences in motivations and approaches to transactions between financial and corporate buyers.

M&A and competition policy

Large M&A deals present strong potential growth opportunities for corporates. But for regulators, these ambitious deals raise competition issues.

Risk and return with emerging market acquisitions

More and more companies are acquiring assets in rapidly growing emerging economies. But the challenges are considerable.

Take-off for dealmaking

Consolidation in the airline industry used to be rare. Arnd Schwierholz,Vice President and Head of M&A at Lufthansa explains why.

A healthy pipeline for M&A deals?

After several years of depressed M&A activity, deal confidence is returning, says Giuseppe Monarchi of Credit Suisse.

Grappling with deal valuation

Calculating the likely future value of an asset is often challenging, especially in an uncertain and volatile marketplace. But getting this right is crucial to the success of a proposed merger or acquisition.

Today’s transactions are creating value

The myth that transactions destroy value needs to be dispelled, says Scott Moeller, Director of the M&A Research Centre at Cass Business School.

Government sales ahead

Strained public finances and ongoing programs of liberalization are encouraging governments to embark on a new wave of privatizations.

View from the hotseat

Royal Philips Electronics has been on the acquisition trail for years. James Nolan, its head of M&A, explains some of the megatrends that drive its deal-making decisions.