Masters of the Deal: Part 2 -
The following article is Part B of a study by the M&A Research Centre at Cass Business School and Intralinks, our community Partner.
Download the Masters of the Deal: Part 2 report
Masters of the Deal: Part 2 - Intralinks and M&A Research Centre at Cass Business School’s second report examines the M&A strategies of an elite group of corporate outperformers – companies that have demonstrated sustained, above-average shareholder value creation from M&A (referred to in this report as “Excellent Corporate Portfolio Managers” or ECPMs) – to determine if the M&A strategies of the ECPMs share common attributes that are statistically significantly different from the M&A strategies of other firms, and to identify those common attributes that are statistically significantly different from the M&A strategies of other firms, and to identify those common attributes. 1,469 firms are identified as ECPMs out of a total of over 25,000 firms in the entire study - the ECPMs thus comprise less than 6% of the sample, making them a truly unique group.
In conjunction with this research, interviews with 30 C-level and senior executives working for ECPMs were conducted by Remark. These professionals offer their expertise and provide context to the findings.
This study is unique in two ways. First, its size and scale, in terms of the number of global companies and M&A transactions that are analysed (25,000+ firms and 265,000+ deals), over a very long-term time series (1994–2013: 20 years), make the results robust and unlikely to be affected by sample bias – not least because the size of the sample makes it much more reflective of the total population of global companies than previous studies. Second, unlike many previous research studies that have attempted to investigate shareholder value creation from M&A by assessing the impact of individual transactions over relatively short time periods, we believe that this is the
first comprehensive study which combines emerging thinking
in M&A research of analysing the effect of M&A on companies’ performance in the context of their overall programme of M&A activity over different time periods.
Get further information on the Excellent Corporate Portfolio Managers that were identified as part of this study and a recording to a webcast where Professor Scott Moeller from Cass Business School and Philip Whitchelo talk through the findings of this report, click through the above link.
Download the Masters of the Deal: Part 2 report
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