The purpose of this paper is to present new insights on cross-border merger and acquisition (M&A) process based on received wisdom in the literature and exploratory field interviews of several leading firms that have conducted cross-border M&As. Starting from existing literature the authors explore current trend in cross-border M&A process with the aim to pose several points for future studies.
Based on previous studies (Brocke and Sinnl, 2011; Gogan et al., 2013; Soni and Kodali, 2011) the authors conduct a structured literature review aimed to divide M&A process in three phases evidencing for each of them the specific aspects and future development of researches.
The paper evidences new strategic motivations, implementation and post-merger integration challenges, especially focussing on cultural issues. Finally the authors emphasize the need for novel indicators of acquisition success such as new and distinct capability development post acquisition.
New trend in cross-border M&As impose to rethink the challenges and opportunities posed by cross-border M&As in a tumultuous global business environment, from strategic, cultural, organizational and financial perspectives.
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