M&A process: a literature review and research agenda

Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Originality/value

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.

Citation

Caiazza, R. and Volpe, T. (2015), "M&A process: a literature review and research agenda", Business Process Management Journal, Vol. 21 No. 1, pp. 205-220. https://doi.org/10.1108/BPMJ-11-2013-0145