Российский рынок слияний и поглощений

Abstract

The article investigates the trends in the Russian market of mergers and acquisitions (M&A) over the last decade. It provides a list of problematic aspects of the legislation of the Russian Federation in the sphere of state regulation of financial markets, the methodology of evaluation and corporate management affecting the number of transactions and the global market. The article analyses the dynamics in the number and value of deals of the Russian market of mergers and acquisitions in the period from 2003 to 2012. The author compares the value of Russian, USA and European markets during the analyzed period. The comparison involves the dynamics of the share of the Russian market and the market share dynamics in Europe, the USA and other countries in the framework of global mergers and acquisitions market. The article defines the similarities that M&A market trends in Russia, USA and Europe show and the discrepancies between the peak and trough periods for the Russian market value and for the market value of other countries, especially the BRICS countries. The article also researches the Russian market and sample Russian industry markets during the global financial crisis of 2008, in the immediately preceding and the following years. The peculiarities of the Russian market are identified, as well as the trends similar to those identified and described in the American research methodology in markets of mergers and acquisitions, with the research aiming at the selection of target companies that maximize the value of the acquiring company.