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Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Gombert Sargsyan
Comparative Analysis of Effectiveness of Mergers and Acquisitions in the Steel Industry
Economics
(Bachelor’s programme)
2017
This study analyzes the impact of mergers and acquisitions in the Metals&Mining sector. The analysis was conducted on 119 transactions that were closed between 2009 and 2014. The results of the study are following:

1. CAAR is equal to -1,58%

2. ROA and EBITDA / Sales after the deal declined by an average of -5.06% and -2.16%, respectively

3. CAR value is greater if the target company is located in a developing market.

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