The impact of Mergers and Acquisitions on the Financial Performance of Indian Companies

Tandon, Ishita (2009) The impact of Mergers and Acquisitions on the Financial Performance of Indian Companies. [Dissertation (University of Nottingham only)] (Unpublished)

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Mergers and acquisitions are the one of the quickest and fastest ways of turning a small company into a large enterprise. They are taken as a resolution to various situations. This topic was chosen because of the growing effect the activity of mergers and acquisitions of various sectors in the Indian society. It has been said that it’s a merry time for the Indian corporations. Indian companies are getting involved in cross border mergers and acquisitions due to the increased competition and globalization. Now days the news of Indian cross border mergers and acquisition has become very common.

The aim of this dissertation is to provide both an academic and methodical view on the financial and operational aspects of mergers and acquisitions in the metal industry and its impact on the industry by assessing the pre and post merger performance of particularly of two specific companies. The dissertation specifically studies the cross border mergers and acquisitions of two Indian companies namely the Tata Steel with Corus and Hindalco with Novellis as a case study.

This research investigates the reasons strategic reasons involved in entering into cross border mergers and acquisitions and whether the performance of the acquiring firm increases post its acquisition and the impact it has on the wealth of shareholders. The findings present that both the target companies and the acquiring companies had a healthy financial performance before mergers and acquisition, but the acquiring firms suffered a great deal of loss after mergers and acquisitions. In other words we can say in the short run (post merger years) mergers are not beneficial for the shareholders though in the long run they look operationally and strategically fit.

Item Type: Dissertation (University of Nottingham only)
Depositing User: EP, Services
Date Deposited: 03 Feb 2010 12:25
Last Modified: 16 Feb 2018 09:44

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