An empirical analysis of value creation in cross-border M&A: the Dufry - Autogrill merger

The thesis provides a comprehensive examination of the key factors influencing value creation in cross-border mergers, encompassing determinants such as experience, managerial ability, country familiarity, deal structure, product relatedness, industry convergence, and corporate governance. Drawing on the merger between Dufry and Autogrill, the analysis encompasses multiple aspects, including the analysis of the two entities, the rationale behind the merger, the structure of the transaction, the event study, and the economic evaluation of the deal. The dissertation blends theoretical frameworks and empirical evidence to provide valuable insights into the dynamics of value creation in cross-border mergers.