Tag Archives: M&A

I supervise theses that focus on macroeconomic questions, use models to answer them, and are written in English or German. If you are interested in writing your thesis with me please follow these steps: Contact me by e-mail to check whether I can act as your thesis supervisor. Attach your grade sheet and sketch very briefly what type of questions you are interested in.  Once we have agreed that I act as supervisor prepare a one- or two-page proposal outlining as concisely and precisely as...

It’s not shaping up to be a banner year for mergers and acquisitions in Europe. Deal value totaled about $400 billion as of July 26 and is on track to reach $800 billion by year-end, which will put it some $200 billion short of last year. And parts of the horizon beyond that aren’t exactly compelling, either: A Credit Suisse survey of European executives shortly after the U.K.’s June vote to leave the European Union found that the Brexit shock had already made business leaders more...

This year, all the world’s a stage…for mergers and acquisitions. So far in 2016, cross-border M&A has made up about 45 percent of total deal-making volume, well above the historical average of about 30 percent, Robin Rankin, Credit Suisse’s Co-head of Global Mergers and Acquisitions, noted at a recent M&A panel discussion hosted by the Milken Institute.   A recent survey of executives in 45 countries suggests that there are more cross-border deals to come. The...

At first glance, U.S. equities seem to be turning a corner: They’ve rebounded from their February lows, bolstered by signs that China’s economy is stabilizing, dovish signals from the Federal Reserve, and a recovery in oil prices. And the majority of U.S. companies have beat first-quarter earnings and sales expectations. But that’s all in the past. Looking forward, Credit Suisse believes that several challenges will lead to choppy market conditions for the remainder of the year.  ...

It’s been decades since conglomerates were the toast of American commerce. Many that formed in the 1960s and 70s broke up in the decades that followed, as the trend of diversification gave way to specialization. But in China in 2016, enthusiasm for the conglomerate form is at an all-time high, particularly among Internet companies. Last year, web titans Baidu, Alibaba, and Tencent invested a total of $29 billion in 134 businesses.   Alibaba has been the most aggressive of the...

With profitability at U.S. corporations touching historic highs, and corporate cash piles as large as they’ve ever been, one of the top tasks of executives these days is simply deciding how best to spend the money. Companies in the S&P 500 had an aggregate cash balance of $1.43 trillion in the second quarter of 2015, which tied a record set in the fourth quarter of 2014.   So what should companies be doing with all that money? In a recent white paper, Credit Suisse Corporate...

As the second-quarter earnings season draws to a close in the United States, with 89 percent of companies in the S&P 500 having announced quarterly results, there’s both good and bad news to report. Sugar first: Seventy-four percent of companies beat consensus estimates, slightly better than the 10-year average of 70 percent. The outlook for the future is getting rosier, too. The consensus forecast for 12-month forward earnings growth is now 7.2 percent, up from 5.2 percent at the...