The ZWE ZEPHYR M&A index of the Centre for European Economic Research (ZEW) started in January 2000 (Index= 100) to measure the worldwide mergers and acquisitions acitivities. Over the last months this index drops significantly from 156 (Jan. 2001) to 138 (Dec. 2007) to 113 at the end of the 1st quarter 2008 and below the average of 125 points. The M&A index is calculated monthly and tracks the worldwide M&A transactions development
ZWE researchers think that the current revenue situation, especially of European companies, is excellent but that volatile global stock markets make share unattractive as well as M&A transactions.
M&A opportunities arise from economic downturn situations. Deals in downturn times have a higher chance to create more shareholder value. This can’t be explained by buying low and selling high. It’s more reliable that acquirers do better in targeting and due diligence in difficult economic scenarios – there are less free attempts in the market which improves discipline. But 2008 we won’t see any megadeals.
Visit the ZWE website, where you can find other useful economic statistics and information.
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