اندماج واستحواذ الشركات
(تم التحويل من Mergers and acquisitions)
| تمويل الشركات |
|---|
 |
| Working capital |
| الأقسام |
| مكونات مجتمعية |
اندماج واستحواذ الشركات هو اتحاد بين شركتين أو أكثر أو شراء شركة لأخرى، لتصبح مجموعات عملاقة وهو الدارج في الأسواق العالمية. ويتضح في أمثلة اندماج شركات السيارت (مثل: جنرال موتورز وشڤروليه) والأدوية ( مثل: سميث كلاين بيكم و گلاكسو).
استحواذ
اندماج
الإندماج هو اتحاد للمصالح بين شركتين أو أكثر ينتج عنه ظهور كيان جديد أو قيام أحد الشركات، فثلاً اندماج الشركة يعني دخول كلي لكيانها في شركة أخرى وبالتالي يزول كيانها القانوني وتدخل في كيان الشركة الأخرى المندمجة معها، وهذا يختلف عن تحول الشركات حيث تبقى الشركة قائمة وإنما يتغير كيانها القانوني، كما أن الاندماج ليس بالضرورة أن يكون بين الشركات من ذات النوع، فيجوز أن تندمج شركة مع أخرى من نوع آخر، سواء كان الاختلاف من حيث الأغراض أو من حيث الكيان القانوني . [1]
الهياكل القانونية
التقييم
التمويل
| المحاسبة |
|---|
 |
 |
التاريخ
حركة الاندماجات الكبرى: 1895-1905
| الفترة | الاسم | Facet |
|---|---|---|
| 1897–1904 | الموجة الأولى | Horizontal mergers |
| 1916–1929 | الموجة الثانية | Vertical mergers |
| 1965–1969 | الموجة الثالثة | Diversified conglomerate mergers |
| 1981–1989 | الموجة الرابعة | Congeneric mergers; Hostile takeovers; Corporate Raiding |
| 1992–2000 | الموجة الخامسة | Cross-border mergers |
| 2003–2008 | الموجة السادسة | Shareholder Activism, Private Equity, LBO |
الكبرى
ع1990
| Rank | Year | Purchaser | Purchased | Transaction value (in USD) |
|---|---|---|---|---|
| 1 | 1999 | Vodafone Airtouch PLC[2] | Mannesmann | 202,000,000,000 |
| 2 | 1999 | Pfizer[3] | Warner-Lambert | 90,000,000,000 |
| 3 | 1998 | Exxon[4][5] | Mobil | 77,200,000,000 |
| 4 | 1998 | Citicorp | Travelers Group | 73,000,000,000 |
| 5 | 1999 | SBC Communications | Ameritech Corporation | 63,000,000,000 |
| 6 | 1999 | Vodafone Group | AirTouch Communications | 60,000,000,000 |
| 7 | 1998 | Bell Atlantic[6] | GTE | 53,360,000,000 |
| 8 | 1998 | BP[7] | Amoco | 53,000,000,000 |
| 9 | 1999 | Qwest Communications | US WEST | 48,000,000,000 |
| 10 | 1997 | Worldcom | MCI Communications | 42,000,000,000 |
ع2000
Top 10 M&A deals worldwide by value from 2000 to 2010:[8]
| الترتيب | السنة | الشاري | المشترىَ | Transaction value (in USD) |
|---|---|---|---|---|
| 1 | 2000 | Fusion: AOL Inc. (America Online)[9][10] | Time Warner | 164,747,000,000 |
| 2 | 2000 | Glaxo Wellcome Plc. | SmithKline Beecham Plc. | 75,961,000,000 |
| 3 | 2004 | Royal Dutch Petroleum Company | "Shell" Transport & Trading Co. | 74,559,000,000 |
| 4 | 2006 | AT&T Inc.[11][12] | BellSouth Corporation | 72,671,000,000 |
| 5 | 2001 | Comcast Corporation | AT&T Broadband | 72,041,000,000 |
| 6 | 2009 | Pfizer Inc. | Wyeth | 68,000,000,000 |
| 7 | 2000 | Spin-off: Nortel Networks Corporation | 59,974,000,000 | |
| 8 | 2002 | Pfizer Inc. | Pharmacia Corporation | 59,515,000,000 |
| 9 | 2004 | JPMorgan Chase & Co.[13] | Bank One Corporation | 58,761,000,000 |
| 10 | 2008 | InBev Inc. | Anheuser-Busch Companies, Inc. | 52,000,000,000 |
2010–2014
Other notable M&A deals from 2010 to 2014 include:[14]
| السنة | الشاري | المشترىَ | قيمة المعاملة (USD) |
|---|---|---|---|
| 2011 | Motorola Mobility | 9,800,000,000 | |
| 2011 | Microsoft Corporation | Skype | 8,500,000,000 |
| 2011 | Berkshire Hathaway | Lubrizol | 9,220,000,000 |
| 2012 | Deutsche Telekom | MetroPCS | 29,000,000,000 |
| 2013 | Softbank | Sprint Corporation | 21,600,000,000 |
| 2013 | Berkshire Hathaway | H. J. Heinz Company | 28,000,000,000 |
| 2013 | Microsoft Corporation | Nokia Handset & Services Business | 7,200,000,000 |
| 2014 | 19,000,000,000 | ||
| 2014 | SAP | Concur Technologies | 8,300,000,000 |
انظر أيضاً
الهامش
- ^ علي حمودي (2015-09-02). "مفهوم إندماج وإستحواذ الشركات". sa.investing.com.
- ^ "Mannesmann to accept bid - February 3, 2000". CNN. February 3, 2000.
- ^ Pfizer and Warner-Lambert agree to $90 billion merger creating the world's fastest-growing major pharmaceutical company
- ^ "Exxon, Mobil mate for $80B - December 1, 1998". CNN. December 1, 1998.
- ^ Finance: Exxon-Mobil Merger Could Poison The Well
- ^ Fool.com: Bell Atlantic and GTE Agree to Merge (Feature) July 28, 1998
- ^ http://www.eia.doe.gov/emeu/finance/fdi/ad2000.html
- ^ خطأ استشهاد: وسم
<ref>غير صحيح؛ لا نص تم توفيره للمراجع المسماةref - ^ Online NewsHour: AOL/Time Warner Merger
- ^ "AOL and Time Warner to merge - January 10, 2000". CNN. January 10, 2000.
- ^ "AT&T To Buy BellSouth For $67 Billion". CBS News. March 5, 2006.
- ^ AT&T- News Room
- ^ "J. P. Morgan to buy Bank One for $58 billion". CNNMoney.com. 2004-01-15.
- ^ "The Biggest M&A Deals of 2011 - A running tally - Businessweek". Images.businessweek.com. Retrieved 2013-08-01.
للاستزادة
- Denison, Daniel, Hooijberg, Robert, Lane, Nancy, Lief, Colleen, (2012). Leading Culture Change in Global Organizations. "Creating One Culture Out of Many", chapter 4. San Francisco: Jossey-Bass. ISBN 9780470908846
- Aharon, D.Y.; Gavious, I.; Yosef, R. (2010). "Stock market bubble effects on mergers and acquisitions" (PDF). The Quarterly Review of Economics and Finance. 50 (4): 456–470. doi:10.1016/j.qref.2010.05.002.
- Cartwright, Susan; Schoenberg, Richard (2006). "Thirty Years of Mergers and Acquisitions Research: Recent Advances and Future Opportunities". British Journal of Management. 17 (S1): S1–S5. doi:10.1111/j.1467-8551.2006.00475.x.
- Bartram, Söhnke M.; Burns, Natasha; Helwege, Jean (September 2013). "Foreign Currency Exposure and Hedging: Evidence from Foreign Acquisitions". Quarterly Journal of Finance. forthcoming.
{{cite journal}}: CS1 maint: multiple names: authors list (link) - Close, John Weir. A Giant Cow-tipping by Savages: The Boom, Bust, and Boom Culture of M&A. New York: Palgrave Macmilla. ISBN 9780230341814. OCLC 828246072.
- DePamphilis, Donald (2008). Mergers, Acquisitions, and Other Restructuring Activities. New York: Elsevier, Academic Press. p. 740. ISBN 978-0-12-374012-0.
- Douma, Sytse & Hein Schreuder (2013). "Economic Approaches to Organizations", chapter 13. 5th edition. London: Pearson. ISBN 0273735292 ISBN 9780273735298
- Fleuriet, Michel (2008). Investment Banking explained: An insider's guide to the industry. New York, NY: McGraw Hill. ISBN 978-0-07-149733-6.
- Harwood, I. A. (2006). "Confidentiality constraints within mergers and acquisitions: gaining insights through a 'bubble' metaphor". British Journal of Management. 17 (4): 347–359. doi:10.1111/j.1467-8551.2005.00440.x.
- Popp, Karl Michael (2013). Mergers and Acquisitions in the Software Industry - foundations of due diligence. Norderstedt: Books on demand. ISBN 978-3-7322-4381-5.
- Reddy, K.S., Nangia, V.K., & Agrawal, R. (2014). The 2007-2008 global financial crisis, and cross-border mergers and acquisitions: A 26-nation exploratory study. Global Journal of Emerging Market Economies, 6(3), 257-281. http://eme.sagepub.com/content/6/3/257.short
- Reddy, K.S.; Nangia, V.K.; Agrawal, R. (2013). "Indian economic-policy reforms, bank mergers, and lawful proposals: The ex-ante and ex-post 'lookup'". Journal of Policy Modeling. 35 (4): 601–622. doi:10.1016/j.jpolmod.2012.12.001.
- Reddy, K.S.; Agrawal, R.; Nangia, V.K. (2013). "Reengineering, crafting and comparing business valuation models-the advisory exemplar". International Journal of Commerce and Management. 23 (3): 216–241. doi:10.1108/IJCoMA-07-2011-0018.
- Reifenberger, Sabine (28 December 2012). M&A Market: The New Normal. CFO Insight
- Rosenbaum, Joshua; Joshua Pearl (2009). Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions. Hoboken, NJ: John Wiley & Sons. ISBN 0-470-44220-4.
- Scott, Andy (2008). China Briefing: Mergers and Acquisitions in China (2nd ed.).
- Straub, Thomas (2007). Reasons for frequent failure in Mergers and Acquisitions: A comprehensive analysis. Wiesbaden: Deutscher Universitäts-Verlag (DUV), Gabler Edition Wissenschaft. ISBN 978-3-8350-0844-1.
| Capital structure |  | ||||||
|---|---|---|---|---|---|---|---|
| Transactions (terms/conditions) | |||||||
| تثمين | |||||||