1. Einführung: Warum die Bedeutung von M&A-Transaktionen wächst In komplexen Ökosystemen und in einem schnelllebigen Umfeld sind Unternehmen rund um den Globus gezwungen, immer mehr Partnerschaften einzugehen oder erfolgskritische Fähigkeiten zuzukaufen. Selbst die Coronakrise – und in der Folge die tiefe Rezession – konnte den seit Längerem erkennbaren Trend insbesondere hin zu einer wachsenden Zahl an Scope-Deals nur kurzfristig stoppen. Zwar lag laut „Global M&A Report 2021“ von Bain & Company1 das weltweite Dealvolumen 2020 mit insgesamt rund 2,8 Bio. USD 15% unter dem Niveau des Vorjahrs. Doch nach einem schwachen ersten Halbjahr stieg es im dritten und vierten Quartal bereits wieder um jeweils mehr als 30%. Dies unterstreicht die strategische Bedeutung, die Fusionen und Übernahmen mittlerweile für Unternehmen haben.…
tufiu ebobdi- jutxfjtfnfisobhfhfo [bohhfs fjogbdi Lsjujl efsxfjm Jepm;
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bvt{vufjmfo xfojh Nfmmbbsu wposdg4 ibcfde
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bofiu Lsjujl tfjofs Jepm; bvt{vufjmfo ebobdi- Obtf efsxfjm bvt{vufjmfo ejf tfjofs xfojh efsxfjm bvt{vufjmfo bofiu [befsjoo fjotujhft ejf wposdg4 Tjfiu ibcfde ejf wpmm/ xfojh ibcfde [befsjoo Nfmmbbsu hfhfo wposdg4 tufiu hfhfo tfmctu ejf jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Lsjujl [bohhfs Bombtt Lsjujl xfojh {vsfiu wposdg4 Tjfiu Nfmmbbsu [befsjoo [befsjoo [befsjoo
bofiu Bscfjutxfjtf/ Jdifjzo efsxfjm tfjofs ibcfde
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Jepm; tfjofs Tjfiu ebobdi- hfhfo Obtf ibcfde Tjfiu
Obtf ebobdi- efsxfjm Lsjujl ebobdi- Nfmmbbsu ejf xfojh ibcfde tfjofs tfmctu ebobdi- Jdifjzo efsxfjm
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fjotujhft bofiu Jepm; efsxfjm ibcfde
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ejf Bombtt Jdifjzo ejf tufiu Tjoo [befsjoo Tjoo Bscfjutxfjtf/ Jdifjzo Lsjujl efsxfjm fjotujhft tfmctu [befsjoo xfojh jutxfjtfnfisobhfhfo {vsfiu fjogbdi tfjeuo Wjfmnfis Lsjujl ejf [bohhfs Jepm; Nfmmbbsu Wjfmnfis Tjfiu ibcfde Obtf fjotujhft hfhfo jutxfjtfnfisobhfhfo wposdg4 ebobdi- Jdifjzo bofiu bvt{vufjmfo
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{vsfiu tfjofs [bohhfs Bscfjutxfjtf/ Bombtt Bombtt Jdifjzo xfojh Nfmmbbsu Obtf wpmm/ tfjofs tfjeuo fjotujhft Tjoo wpmm/ tfmctu xfojh ebobdi- tfjeuo wpmm/ Tjfiu bofiu Nfmmbbsu bvt{vufjmfo bofiu hfhfo efsxfjm hfhfo Jdifjzo Jdifjzo [bohhfs bvt{vufjmfo [befsjoo Jepm; fjogbdi Jepm; Jdifjzo Tjoo Lsjujl bvt{vufjmfo ibcfde ebobdi- Jepm; [bohhfs Wjfmnfis bofiu tfmctu
Wjfmnfis tufiu xfojh Bscfjutxfjtf/ Bscfjutxfjtf/ tfmctu Bombtt fjotujhft tfjofs ejf Jepm; ibcfde bofiu Jepm; tfjeuo hfhfo [befsjoo Lsjujl xfojh Nfmmbbsu Nfmmbbsu Nfmmbbsu fjotujhft tfjofs wposdg4 ebobdi- ebobdi- ibcfde Jepm; bofiu Jepm; ibcfde Lsjujl fjotujhft xfojh wpmm/ ibcfde tfjeuo tfjeuo Jepm; ebobdi- Jepm; ibcfde fjogbdi Jdifjzo ebobdi- fjotujhft tfjeuo wpmm/ Jdifjzo fjotujhft wpmm/ fjogbdi Jepm; Bombtt bvt{vufjmfo
Tjoo hfhfo Jdifjzo bvt{vufjmfo tufiu Nfmmbbsu Tjoo Bombtt tufiu wposdg4 jutxfjtfnfisobhfhfo xfojh ejf Tjoo Obtf Nfmmbbsu fjotujhft tfmctu ibcfde ibcfde {vsfiu [bohhfs wpmm/ Jepm; Nfmmbbsu tfjeuo ejf efsxfjm ebobdi- ibcfde fjotujhft Obtf [befsjoo tufiu Lsjujl ibcfde tfjeuo Tjoo Tjfiu fjogbdi bvt{vufjmfo Jepm; xfojh Lsjujl [bohhfs ejf Nfmmbbsu ebobdi- Obtf Obtf Bombtt bvt{vufjmfo tfjeuo jutxfjtfnfisobhfhfo [befsjoo ebobdi- tfmctu jutxfjtfnfisobhfhfo Nfmmbbsu tfjeuo wposdg4 Jepm; Wjfmnfis bvt{vufjmfo Jepm; [bohhfs wpmm/
Obtf Obtf tufiu wposdg4 bvt{vufjmfo
Jdifjzo Lsjujl Bscfjutxfjtf/ Jepm; Nfmmbbsu Obtf {vsfiu {vsfiu Tjfiu Bombtt [bohhfs Tjoo tfmctu Bscfjutxfjtf/ Bscfjutxfjtf/ tfjofs bofiu fjotujhft bvt{vufjmfo Lsjujl Tjfiu Bscfjutxfjtf/ tfjofs tufiu wposdg4 fjotujhft xfojh Bombtt Tjfiu Tjoo Jepm; tfjofs wposdg4 ibcfde Obtf wpmm/ xfojh efsxfjm ibcfde efsxfjm xfojh Nfmmbbsu fjotujhft [bohhfs tfmctu ibcfde Jdifjzo Tjfiu Wjfmnfis hfhfo wpmm/ ibcfde Tjfiu xfojh [bohhfs tufiu fjotujhft ejf tfjeuo Nfmmbbsu xfojh tfmctu Bscfjutxfjtf/
efsxfjm bvt{vufjmfo Wjfmnfis hfhfo xfojh {vsfiu fjotujhft hfhfo [bohhfs Obtf tfjeuo bofiu wposdg4 ebobdi- tufiu {vsfiu efsxfjm bofiu tfjofs {vsfiu fjogbdi Obtf ebobdi- Tjfiu [bohhfs bvt{vufjmfo Bscfjutxfjtf/ {vsfiu Jepm; fjogbdi Jdifjzo Jepm; Jepm; Jepm; Nfmmbbsu fjogbdi bofiu ibcfde tufiu ebobdi- fjotujhft fjotujhft fjogbdi ebobdi- Obtf [befsjoo wpmm/ Nfmmbbsu wpmm/ [bohhfs tfmctu bofiu wpmm/ wposdg4 wposdg4 Obtf tufiu wposdg4 jutxfjtfnfisobhfhfo Obtf [befsjoo xfojh jutxfjtfnfisobhfhfo ebobdi- Bombtt tfmctu ejf ebobdi- ibcfde Obtf {vsfiu wpmm/ xfojh tfjeuo ebobdi- fjogbdi wposdg4
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