如何赢得新兴国家市场竞争.pdfVIP

BRIC V M? WINNING AT MA IN EMERGING MARKETS BRIC VERSUS MORTAR? WINNING AT MA IN EMERGING MARKETS CONTENTS  EXECUTIVE SUMMARY  THE GLOBAL MA MARKET REMAINS IN A DEEP FREEZE Disappointing Results for Public-to-Public Deals Emerging Markets Claim a Growing Share of Deal Flow Key Investing Themes  LEARNING FROM EXPERIENCE AND MANAGING COMPLEXITY: THE KEYS TO SUPERIOR RETURNS Serial Acquirers Reap the Rewards of Experience The Virtue of Simplicity  A TOUR OF THE BRIC COUNTRIES Brazil Looks to the North Russia Seeks Technology, Resources—and Stability India Aims at Targets of Opportunity China Hunts for Management Know-How—and Access to the Global Business Arena  EMERGING THEMES AND RECOMMENDATIONS  APPENDIX: SELECTED TRANSACTIONS,  AND   FOR FURTHER READING  NOTE TO THE READER  | BRIC V M? EXECUTIVE SUMMARY  the current worldwide lull in mergers and acquisitions, there’s Dnot much argument that emerging markets will remain a hotbed of MA activity for some time to come. In the forefront of emerging-market MA are the BRICs—Brazil, Russia, India, and China—which collectively account for 60 percent of total deal value in emerging-market MA activity. Within the BRICs, markets are growing, consumers are gaining purchasing power, and formerly protectionist economies are opening up to foreign in- vestment. At the same time, newly confident and ambitious BRIC-based companies are racing to acquire assets in developed economies to achieve growth and ad