Mergers and acquisitions are an important engine of transformation in the global economy with significant influence on national and international production networks, market relations and competitive dynamics. Since they can trigger strong reactions in financial markets and can have far-reaching consequences for employees, suppliers and customers, they are often of great public interest. As a whole, mergers and acquisitions are associated with complexity and risk. In addition, the available research data suggest that acquisitions in many cases fall short of expectations. Competence Center for Mergers and Acquisitions analyzes and scrutinizes current developments in this area.
We examine various aspects of the transaction process in different research projects: from the strategic decision-making phase to the organizational implementation and long-term implications of non-organic growth. We try to identify dysfunctional behavior patterns and shed light on possible solutions. We use different methods like panel analysis, event study methodology, and case studies to explore interaction of different actors like internal strategy and M&A departments, boards of directors, supervisory boards, financial market participants, analysts and advisers. A particularly topical focus is on the analysis of acquisition programs and strategic processes of serial buyers, in particular with the development of digital tools for transaction process management.