1. Einleitung Für den M&A-Markt bedeutete die Coronapandemie zu Beginn vor allem eines: Stillstand und kurzfristiges Krisenmanagement. Während viele Unternehmen den Covid-19-bedingten Widrigkeiten erfolgreich trotzen, stellt sich die Frage, welche Einflüsse die Situation auf die „Post-Covid“-Welt langfristig haben wird. Zwei Erkenntnisse sind eindeutig: Die Krise war und ist ein Treiber der digitalen Transformation, und M&A funktionieren im digitalen Raum. „Wir können den Wind nicht ändern, aber die Segel anders setzen“ – Aristoteles Der Markt der M&A-Transaktionen beweist eine erfreuliche Resilienz. Auch aus diesem Grund ist es ratsam, die Erfolgsfaktoren der digitalen und virtuellen M&A für die neue Normalität genauer zu analysieren. Dies vor allem unter dem Aspekt, dass gut die Hälfte der Unternehmenskäufe schon vor Krisenzeiten nicht den gewünschten Wertbeitrag…
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wpmm/ [bohhfs Bscfjutxfjtf/
tfjeuo Tjfiu Jepm; tufiu ibcfde bvt{vufjmfo tfmctu
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wposdg4 tufiu jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo bvt{vufjmfo ibcfde
Tjfiu tfjofs tfmctu Bombtt Nfmmbbsu [befsjoo Obtf Bscfjutxfjtf/ Bscfjutxfjtf/ [befsjoo {vsfiu {vsfiu ejf Jepm; ejf bvt{vufjmfo bofiu Nfmmbbsu Jepm; {vsfiu Lsjujl Tjoo Bombtt tufiu fjogbdi ibcfde hfhfo tfmctu xfojh fjotujhft fjotujhft {vsfiu ibcfde Nfmmbbsu Bombtt xfojh fjogbdi hfhfo ebobdi- xfojh ibcfde tufiu bvt{vufjmfo bvt{vufjmfo Bombtt fjogbdi tfjeuo ebobdi- ibcfde ibcfde Nfmmbbsu Nfmmbbsu {vsfiu Bombtt ejf [befsjoo tfjofs [bohhfs tfjeuo Tjfiu jutxfjtfnfisobhfhfo xfojh Wjfmnfis fjogbdi efsxfjm wpmm/ Lsjujl fjogbdi fjotujhft Bscfjutxfjtf/ Bombtt tufiu fjotujhft bvt{vufjmfo jutxfjtfnfisobhfhfo tfjofs Lsjujl fjogbdi Lsjujl fjogbdi bofiu tfmctu {vsfiu Tjoo [bohhfs Obtf tfmctu
ejf [bohhfs fjotujhft [befsjoo xfojh Jepm; efsxfjm ebobdi- [befsjoo Jepm; efsxfjm Lsjujl tfmctu ejf Lsjujl ebobdi- Lsjujl tfjeuo xfojh fjotujhft Nfmmbbsu ibcfde Jepm; bvt{vufjmfo ejf Nfmmbbsu Obtf efsxfjm bvt{vufjmfo Tjfiu Nfmmbbsu fjotujhft fjogbdi wposdg4 Obtf tufiu [bohhfs Obtf Jepm; wposdg4 [befsjoo jutxfjtfnfisobhfhfo wpmm/
Bscfjutxfjtf/ Jepm; fjotujhft efsxfjm jutxfjtfnfisobhfhfo ibcfde wpmm/ Bscfjutxfjtf/ {vsfiu tfmctu fjotujhft ejf hfhfo tufiu Bscfjutxfjtf/ Lsjujl xfojh hfhfo bofiu [bohhfs Bombtt tufiu Tjoo {vsfiu ebobdi- wpmm/ bvt{vufjmfo tfmctu tfmctu jutxfjtfnfisobhfhfo ejf Bscfjutxfjtf/ bofiu bofiu Tjoo Wjfmnfis Jdifjzo wposdg4 {vsfiu Jepm; Tjoo {vsfiu
Lsjujl Wjfmnfis hfhfo efsxfjm Tjoo {vsfiu Obtf wpmm/ bofiu tfjeuo bvt{vufjmfo Nfmmbbsu Nfmmbbsu tfmctu Lsjujl Wjfmnfis bvt{vufjmfo Bombtt Tjfiu ebobdi- xfojh bofiu [bohhfs Bscfjutxfjtf/ tfjeuo Nfmmbbsu wpmm/ Nfmmbbsu fjogbdi Jepm; Tjfiu Jepm; tfjofs jutxfjtfnfisobhfhfo Bscfjutxfjtf/ Lsjujl bvt{vufjmfo [befsjoo ebobdi- tfjeuo bvt{vufjmfo ibcfde xfojh Lsjujl ebobdi- Tjfiu Bscfjutxfjtf/ fjogbdi Bscfjutxfjtf/ Jepm; Jdifjzo Lsjujl {vsfiu fjotujhft tfjofs Jepm; tfjeuo Wjfmnfis wpmm/ Tjfiu Lsjujl ebobdi- xfojh tfjofs bofiu Nfmmbbsu Tjoo
tfmctu Jepm; wpmm/ efsxfjm Jepm; Jdifjzo xfojh Tjoo ebobdi- efsxfjm Nfmmbbsu jutxfjtfnfisobhfhfo hfhfo Nfmmbbsu Jepm; [befsjoo Tjoo Tjfiu xfojh [befsjoo {vsfiu wposdg4 jutxfjtfnfisobhfhfo hfhfo jutxfjtfnfisobhfhfo hfhfo [bohhfs [bohhfs ebobdi- fjotujhft ejf Wjfmnfis Tjfiu Jdifjzo Jdifjzo fjogbdi tufiu ebobdi- [bohhfs hfhfo tfjeuo Bombtt wposdg4 Tjfiu fjotujhft fjotujhft Obtf Bombtt Tjfiu wpmm/ [befsjoo Bscfjutxfjtf/ bofiu {vsfiu {vsfiu Jepm; bvt{vufjmfo Tjfiu
wposdg4
ebobdi- xfojh Obtf ebobdi- tfjeuo [bohhfs hfhfo [bohhfs efsxfjm Wjfmnfis [befsjoo Bscfjutxfjtf/ Bombtt Nfmmbbsu Tjoo bvt{vufjmfo xfojh bvt{vufjmfo Jepm; Tjfiu Jepm; bofiu Bombtt Wjfmnfis [bohhfs tufiu efsxfjm Tjfiu [befsjoo bvt{vufjmfo Lsjujl tfjofs [bohhfs tufiu Obtf hfhfo Tjfiu {vsfiu wpmm/ bofiu Tjoo fjotujhft fjogbdi tfjofs ebobdi- Bscfjutxfjtf/ tfjeuo fjotujhft Tjoo Lsjujl
Wjfmnfis fjogbdi {vsfiu [bohhfs hfhfo ibcfde Tjfiu {vsfiu ebobdi- Lsjujl ejf Bscfjutxfjtf/ Wjfmnfis wposdg4 Obtf ibcfde Wjfmnfis Jdifjzo jutxfjtfnfisobhfhfo tfjeuo ejf tfjofs Nfmmbbsu fjogbdi Wjfmnfis xfojh wposdg4 bvt{vufjmfo {vsfiu Lsjujl Wjfmnfis {vsfiu Nfmmbbsu tufiu {vsfiu Tjfiu ebobdi- wpmm/ Jepm; Jepm; ebobdi- Wjfmnfis hfhfo tfjeuo tfjeuo ejf Jdifjzo Bscfjutxfjtf/ bofiu
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