Сделки слияний и поглощений как инструмент, обеспечивающий глобальную конкурентоспособность, на примере медиаконгломерата Дисней

In current economic conditions many companies seek for effective development strategies in order to increase their global competitiveness, to have higher profitability and total value. Today one of such strategies is mergers and acquisitions deals. M&As is one of the most widespread ways of development used by the majority of successful companies. These transactions become the integral processes of the modern market relations. Recently the level of competition in the majority of fields of activity has increased sharply. That is why there is a need for processes of mergers and acquisitions to ensure business growth for the company which seeks to take the leading positions in the world market. For this reason M&A deals can be considered as one of the most important mechanisms that ensure company’s global competitiveness. International experience in the area of M&A transactions shows that approximately 76% of such deals are terminated in failure. Thus, the integration strategy of growth has a positive effect only under the condition that company correctly carries out M&A transaction at all its stages: target selection and evaluation, settlement of the transaction, the final decision and post-merger integration phase. The total cost of M&A deals declared in 2014 was nearly 3,1 trillion USD. It is the largest indicator after 2007 and 2006 when the volume of M&A transactions reached 4,62 and 3,91 trillion US dollars correspondingly. According to Bloomberg, in 2014 11 most expensive transactions which worth more than 20 billion US dollars were declared, including the purchase of cable division of Time Warner by Comcast Corporation for 45 billion US dollars and purchase of the Irish producer of medical equipment Covidien by its American competitor Medtronic for 43 billion US dollars.