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Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Alina Kononova
Peculiarities of Mergers and Acquisitions Deals in the Oil and Gas Sector at Current Price Terms
World Economy
(Master’s programme)
2017
We can observe the process of mergers and acquisitions around the world everyday. Today, it is difficult for the companies to conduct their activities alone due to the unstable economic situation in the world market. Therefore there is a need for mergers or acquisitions. When transactions are effective, companies have huge potential, competitive advantages, business expansion and move to a new level, which leads to efficient activities and increase impact on the market. However not all mergers and acquisitions are successful. In order to identify the profitability of transactions, there are different methods to evaluate the results, but not all of them are perfect. This research describes the modern situation of the North American and Russian market of mergers and acquisitions in the current price terms. There is general tendency, that in time of crisis, mergers and acquisitions, on the contrary, become popular. In particular, large corporations acquire assets of small firms that are bankrupts, thereby increasing their competitive advantage. Also there was considered two major deals by General Electric Gas&Oil - Baker Hughes and PJSC "NC "Rosneft" OJSC "TNK-BP holding", the value of which was estimated by various methods.

Based on the results, it was concluded that when assessing the value of future companies, it is necessary to consider several methods to select the most appropriate and take into account a greater number of qualitative and quantitative factors. However, the problem of valuation of mergers and acquisitions is very important for companies, which are going to plan deals, since methods cannot guarantee the consideration of all possible factors due to the unpredictability of the market. That is why many mergers and acquisitions turns fail, and investors receive no expected dividends.

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