Mergers and Acquisitions in Asia: A Global Perspective Book

List of figures     xi
List of tables     xiii
Preface     xix
Acknowledgments     xxi
Mergers and acquisitions in a changing world     1
Global trends of M&A     2
Cross-border M&A from a US perspective     13
The importance of East and Southeast Asia in global trade and investment     15
Economic growth of developing countries in Asia     18
Changes in the Asian-Pacific region that facilitate M&A expansion     20
Objectives and scope of the study     21
An overview of the book     22
Economic environment of Japan     23
An economic profile of Japan     24
Business and investment environment in Japan     27
US trade and investment relations with Japan     31
Japan's investment and trade relations with East Asia     34
Mergers, acquisitions, and reforms of M&A regulations     37
Taxation issues     38
Summary and conclusions     39
Merger and acquisition activity in Japan     41
An overview of M&A in Japan     42
M&A transactions by the nationality of the target firms     43
Home countries of the acquiring firms     44
Acquisition methods     44
The 20 largest M&A in Japan     46
M&A activity by the industries of the target firms and the acquirers     46
Some unique features of Japanese M&A     49
Summary and conclusions     51
Greater China and its investment and trade relations with the United States     52
An economic profile of China, Hong Kong, and Taiwan     53
Investment relations among the three regions of Greater China     55
Merchandise trade among the three regions of Greater China     60
US investment relations with Greater China     65
US trade with China     68
Investment climate and major regulations in Hong Kong     71
Major economic indicators and new regulations in Taiwan     73
Tax incentives and new regulations in Mainland China     76
Summary and conclusions     78
Mergers and acquisitions in Greater China     80
An overview of M&A in Greater China     80
Target and acquiring firms of M&A in China     82
Target and acquiring firms of M&A in Hong Kong     87
Target and acquiring firms of M&A in Taiwan     89
Acquisition methods in Greater China     93
Comparison of M&A practices in the three regions of Greater China     95
The economic impact of M&A and FDI in China     97
Summary and conclusions     100
The economic environment of Southeast Asian countries     102
Economic profile of the Big Five ASEAN countries     103
A profile of the Small Five ASEAN countries     106
The 1997 Asian financial crisis     106
Foreign direct investment in ASEAN     109
International trade of the ASEAN countries     110
US investment and trade relations with ASEAN     112
Investment and M&A regulations in the Big Five ASEAN countries     115
Summary and conclusions     126
Mergers and acquisitions in Southeast Asia     128
Recent trends in M&A in Southeast Asia     128
M&A transactions by the nationality of the target firms     131
Home countries of the acquiring firms     131
The 20 largest M&A in Southeast Asia     132
Comparison among the Big Five countries in ASEAN     133
Acquisition methods in the five countries     147
M&A activities and practices in the five countries     150
Summary and conclusions     154
Cross-national comparisons and general conclusions     157
Cross-national comparisons of economic growth, investment, and merchandise trade     157
Comparisons of M&A deals and transaction values     160
Domestic versus cross-border M&A activity     161
Industrial distribution of the target firms     162
M&A methods and the largest M&A in each country     163
Future prospects for M&A activity in Asia     166
Due diligence and integration issues from M&A in Asia     166
General conclusions     168
Bibliography     170
Index     175