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Determinants of M&A of Premium in Pharma and Biotech Sector

Student: Pavel Rukhani

Supervisor: Irina Khvostova

Faculty: Faculty of Economics

Educational Programme: Economics (Bachelor)

Year of Graduation: 2017

The research analyses the influence of characteristics of deal, acquirer and target company. Basic M&A steps and modern theoretical concepts were analysed in order to achieve research goal. Econometric research was based on 122 deals in pharmaceutical industry from 2000 to 2016. The findings of empirical research supported our hypotheses about relationship among PV of expected synergy and size of companies, strategy importance of the deal, leverage, operational results of acquirer, the share of options and stocks in the CEO consideration.

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