The genesis of the Russian mergers and acquisitions market: the role of the industrial sector

South Ural State University, Department of Accounting, Analysis and Audit, Russian Federation

^* Corresponding author: ivanov.chel@list.ru

Abstract

The article presents the Mergers and Acquisitions quantity and aggregate cost dynamics analysis with the involvement of Russian companies as of from 2001 to 2015. The statistical information on the quantity and volume of M&As in Russia and worldwide was used as an initial benchmark data for the research. The article deduces the conclusion that the dynamics of Russian M&A market development resembles the international one in the whole period up to the year 2014. Starting from 2014 Russian and international M&A markets shows polar trends. This fact connected chiefly to the negative trends in Russian economy due to economic sanctions and weak exportable raw products prices. The article also gives the analysis of Russian M&A market structure from several different perspectives: transactions prices range, capital flow, and integration fields. The main specific features of Russian M&A market are outlined in the light of the reviewed aspects: almost a half of M&A market value is formed through major transactions; internal transaction dominance (sellers and buyers are Russian companies);most of the deals are conducted with involvement of industrial enterprises. The results of this study can be used in forecast development of Russian M&A market trends.