Ziel der Arbeit ist es, Treiber und Erfolgsfaktoren von M&A Operationen im Europäischen Bankensektor zu identifizieren und zu analysieren. Methodologisch wurde hierbei auf die Fallstudienanalyse sowie empirische Untersuchungen zurückgegriffen. Die Arbeit mündet in der Entwicklung verschiedener Szenarien einer zukünftigen Konsolidierung des Bankensektors sowohl innerhalb der einzelnen EU Staaten als auch cross-border.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Executive Summary
- Objectives of this study
- Hypotheses
- Data and Methodology
- Data
- Methodology
- Theoretical background - Literature Review
- Merger Terminology
- Types of M&A transactions
- Direction: Horizontal, Vertical and Conglomerate
- Mode: friendly or hostile
- Initiator: Vendor or Acquirer
- Type of payment: unlevered or levered
- Type of value transfer: share deal or asset deal
- Functional criteria
- Motivations for M&A – general and banking related
- General Motivations for M&A
- Motivations for M&A in the banking sector
- How to define M&A success? - 4 Perspectives
- Shareholder Perspective
- Consumer Perspective
- Employee Perspective
- Society Perspective
- Measuring success in bank related M&A transactions
- Event Studies
- Dynamical efficiency studies
- Performance studies
- Factors explaining M&A success in bank mergers
- Geographical focus
- Product/Activity focus
- Size of the target
- Growth focus of a transaction
- Risk reduction potential
- Profitability and cost efficiency of the target
- Capital market performance of the target prior to a transaction
- Experience of the acquiring bank
- Method of payment
- Post-merger Integration
- Problems arising in different phases of a bank M&A transaction
- European Banking sector
- EU Banking Market Structure
- Fragmentation
- Performance
- Spain: Banking sector overview
- Current situation
- Sector Performance
- Legal framework
- Fragmentation
- M&A activity
- Drivers and obstacles for further M&A activity in Spain
- UK: Banking sector overview
- Current situation
- Sector Performance
- Legal framework
- Fragmentation
- M&A activity
- Drivers and obstacles for further M&A activity in the UK
- France: Banking sector overview
- Current situation
- Sector Performance
- Legal framework
- Fragmentation
- M&A activity
- Drivers and obstacles for further M&A activity in France
- Italy: Banking sector overview
- Current situation
- Sector Performance
- Legal framework
- Fragmentation
- M&A activity
- Drivers and obstacles for further M&A activity in Italy
- Germany: Banking sector overview
- Current situation
- Sector Performance
- Legal framework
- Fragmentation
- M&A activity
- Drivers and obstacles for further M&A activity in Germany
- Analysis of M&A transactions in the EU Banking sector
- Domestic versus cross-border activity
- Silence before the storm?
- Four types of European M&A in the banking sector
- Premium Analysis
- Case study: Banco Sabadell's acquisition of Banco Atlantico
- Introduction
- Banco Sabadell: Corporate profile
- A history of successful acquisitions
- History
- Product and regional focus
- Strategy
- Banco Atlantico: Corporate profile
- Strategy, Product and regional focus
- Financial Analysis
- Transaction details
- Main acquisition facts
- Time table
- Integration process
- Strategic motives for the transaction
- Strategic fit
- Synergies
- Analysis of business units after the Atlantico acquisition
- Performance measurement and comparison
- Shareholder perspective: Abnormal return analysis
- Financial Ratio analysis
- The various motivations behind M&A in the banking sector
- Different types of M&A transactions and their implications
- The impact of M&A on the structure and performance of the European banking sector
- Key success factors and potential problems associated with bank mergers
- An in-depth case study of Banco Sabadell's acquisition of Banco Atlantico, examining the strategic rationale, integration process, and performance outcomes.
- Introduction: This chapter introduces the topic of mergers and acquisitions in the European banking sector, outlining the objectives, hypotheses, and methodology of the thesis.
- Theoretical Background: This chapter provides a comprehensive overview of M&A terminology, different transaction types, and motivations for M&A, particularly within the banking industry. It also explores various perspectives on defining M&A success and examines factors that influence the outcomes of bank mergers.
- European Banking Sector: This chapter provides an analysis of the banking sectors in five key European countries: Spain, the UK, France, Italy, and Germany. It examines each country's market structure, performance, legal framework, fragmentation, M&A activity, and the drivers and obstacles for further consolidation.
- Analysis of M&A Transactions: This chapter delves into the analysis of M&A transactions in the EU banking sector, focusing on domestic versus cross-border activity, identifying different types of M&A, and examining premium analysis in relation to bank mergers.
- Case Study: Banco Sabadell's Acquisition of Banco Atlantico: This chapter provides an in-depth analysis of Banco Sabadell's acquisition of Banco Atlantico. It includes a corporate profile of both banks, details of the transaction, strategic motives, and a performance evaluation of the acquisition.
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This master thesis aims to analyze the drivers and obstacles of mergers and acquisitions in the European banking sector. The thesis focuses on the Spanish, UK, French, Italian, and German banking markets, exploring the unique characteristics and challenges of each.
Zusammenfassung der Kapitel (Chapter Summaries)
Schlüsselwörter (Keywords)
The key terms and focus topics of this work include mergers and acquisitions, European banking sector, consolidation, market structure, performance, legal framework, fragmentation, drivers and obstacles, success factors, case study, Banco Sabadell, Banco Atlantico, strategic motives, integration, and performance evaluation.
Final del extracto de 95 páginas
- subir
- Citar trabajo
- MSc Daniel Wülbern (Autor), 2005, Mergers and Acquisitions in the European Banking Sector / Fusionen und Akquisitionen im Europäischen Banken Sektor, Múnich, GRIN Verlag, https://www.grin.com/document/186028
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