Mergers Acquisitions

U.S. and Canadian maltsters are shown ia Table 1, aloag with a range of estimated aimual capacities. Siace the 1970s, the number of malting companies ia the United States has decreased due to mergers, acquisitions, and the closing of smaller malting companies and iadividual malthouses. 

Martin Austin founded TransformRx GmbH in January 2005 in response to observing the imbalance of information between companies and the investor community. Since then the company has been involved in advising funds and companies large and small on investment, merger, acquisition and business development issues. More information on the type and scope of these assignments can be found on the TransformRx website www.transformrx. com. 

Peter Bodnar, Chief Resources Construction Dev. Officer Jiri Kudrnac, Chief Distribution Officer Vladimir Schmaz, Dir.-Mergers Acquisitions Tomas Pleskac, CEO-Int l Div. 

Fig. 12.2 Development of the annual value of merger acquisition deals, 1993-2002.

Created in 1928 by the merger of thirteen chemical intermediate factories, Union Chimique Beige (UCB) has continuously used mergers, acquisitions, and divestments to strengthen its position in those markets that were consistent with its strategy of innovation and globalization , first in chemicals and films and later also in pharmaceuticals. 

A Brief History of UCB - Eight Decades of Mergers, Acquisitions, and Divestments... 

Yossi Shahar, Sr. VP-Strategy, Mergers Acquisitions Osi Sessler, VP-Comm. 

Georg Denoke, Dir.-Acct., Treasury Capital Expenditure J. Kent Masters, Dir.-Americas, South Pacific Africa Georg Denoke, Dir.-Mergers Acquisitions, Risk Management J. Kent Masters, Head-Healthcare Packaged Gases Manfred Schneider, Chmn. 

Andrew Larke, Gen. Mgr.-Strategy, Mergers Acquisitions Trisha McEwan, Gen. Mgr.-Comm. 

Consolidation through mergers, acquisitions, and alliances can be an effective way to deal with these forces. Its benefits can be twofold cost reduction through synergies and economies of scale, and improvements in the structure and performance of an entire industry segment. 

If mergers, acquisitions, and alliances are the means to renewed profitability in the European petrochemical industry, how should companies go about choosing partners A clear understanding of the value-creating potential of alternative deal options should underlie any decision - and narrow the strategic options. We estimate that, in many European chemical subsectors, no more than 20 percent of all the remaining possible deals are truly attractive. 

Sometimes the right partner for a merger, acquisition, or alliance just does not exist, or it exists but its size is intimidating. As mentioned before, some mediumsized and small players are reluctant to enter into potentially attractive deals with their larger competitors for fear of losing control over their affairs. In the absence of any truly attractive alternative, the temptation for them is to pursue leadership in their regions or customer groups of choice. 

Nonetheless, and subject to anti-trust considerations, some types of deal below the level of business units could be attractive, particularly to petrochemical players. Such alliances or deals may also appeal to potential partners who would like to get to know each other better before they enter into a full merger, or to players who lack exciting merger, acquisition, or alliance options at the business unit level. Three examples are given below ... 

This is a difficult time for Europe s petrochemical industry, but there is hope. Mergers, acquisitions, and alliances can give some players a unique opportunity to improve their fortunes. The number of attractive deals, however, is limited, and in many sub-sectors no more than two or three large deals could be consumated before antitrast limits are reached. Players that caimot or will not contract deals at the business unit level can find alternatives that will let them retain corporate control while extracting some, though not all, of the economic benefits of more sweeping deals. 

Generally, the dynamics of the flavour and fragrance industry mirror the trend of many industrial sectors the most important representatives of a large number of nationally oriented companies have through mergers, acquisitions and market expansion developed into globally operating multinational enterprises. As a result of this... 

Blumenthal M. Herb industry sees mergers, acquisitions, and entry by pharmaceutical giants in 1998. HerbalGram 1999 45 67-68. 

Du Pont is an example of how various companies in the CPI have changed as a result of mergers, acquisitions, alliances, and divestitures. The sales of Du Pont prior to the partial spin-off of Conoco (see below) can be broken down as follows ... 

In the 1980s, many companies in industrial America were involved in mergers and acquisitions. Toward the end of the 1980s and into the early 1990s, these activities subsided somewhat. Again in the late 1990s, mergers, acquisitions, joint ventures, and alliances were prevalent, especially in the CPI. 

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