Europe’s M&As more successful than US

PricewaterhouseCoopers has found that that mergers and acquistions in Europe
and the UK have been far more successful than takeovers in the United States.

Research by the Big Four firm showed that although most US deals tended to
destroy shareholder value, European dealmakers had been far more successful in
creating value.

PwC analysed the deals between all listed European companies from 1995 to
2004 using data compiled by Dealogic. The firm found that more than half of the
deals generated positive returns for acquiring companies relative to the wider

Equivalent US research over a similar period showed that most deals provided
negative returns.

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