Crossing Multiple Borders: A Case Study on Cross-Border M&A of 4 Companies

Discussion The purpose of the study is to discover the experience effect in cross-border M&As when the acquired companies are from emerging markets or developed markets for acquirers from emerging markets. More specifically, if the effect of cross-border M&A experience of the companies in emerging markets is different when the acquired companies are also from emerging markets or developed markets. The study aims to contribute to the literature by observing the effect of the M&A experience on M&A performance in different market conditions. Content The content of the study is going to provide an overview of the importance and relevancy of the cross-border M&A experience, a definition of emerging markets and developed markets, a literature review about the effect of the cross-border M&A experience on the performance of M&As while narrowing it down to the difference of the effect in different market situations. The study is going to formulate hypotheses regarding the differences between emerging market targets and developed market targets. Methodology Sample data is going to be obtained from the Eikon database and the M&A experience (independent variable) is going to be measured as the number of the preceding M&As of the same company in the last ten years prior to the M&A on observation. M&A experience is going to be calculated both for when the acquired company is in emerging markets and in developed markets for the acquirers. The key performance determinant of the M&A performance (dependent variable) is going to be set as the return on investment of the consolidated statements of the acquirer. Analysis of the relevant data collected in order to test the hypotheses and derive the effect of the cross-border M&A experience in emerging markets and developed markets for acquirers from emerging markets are going to be carried out. Control variables are going to be used such as year, deal financing type, deal size, target size, etc. Conclusion In this part, the study is going to provide insights regarding the managerial and theoretical implications of the findings. The theory and the study carried out are going to be analyzed thoroughly. Moreover, contributions to the literature and possible future studies are going to be addressed. Finally, an executive summary is going to be prepared containing the path followed and the conclusions of the study.

Discussion; the purpose of the study is to analyze the cross-border M&A case of Stiga, formerly known as Global Garden Products, that occurred in the year 2000. More specifically, review of the literature in terms of cross-border M&As to identify the best practices and mistakes to be able to compare the case of Stiga regarding it is success and pain points. Content; the content of the study is going to provide an overview of the importance and relevancy of the cross-border M&A experience, a literature review about the cross-border M&A key performance indicators while comparing the case of Stiga with the empirical studies in literature. The study is going to formulate hypotheses regarding the differences between literature and the case on hand. Methodology; information will be acquired directly from the company through interviews with its employees and other data shared with the public by the company. Since the company is privately owned, not listed, the level of the information available is limited. However, being able to directly interview the employees will remove this obstacle. Conclusion; in this part, the study is going to provide insights regarding the managerial and theoretical implications of the findings. The theory and the study carried out are going to be analyzed thoroughly. Moreover, contributions to the literature and possible future studies are going to be addressed. Finally, an executive summary is going to be prepared containing the path followed and the conclusions of the study.