The effects of mergers and acquisitions on investment returns: cases of Massmart and SABMiller

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dc.contributor.authorMohapi, Doreen Sefalwana
dc.date.accessioned2017-10-03T09:08:44Z
dc.date.available2017-10-03T09:08:44Z
dc.date.issued2017
dc.descriptionThesis (M.M. (Finance & Investment)--University of the Witwatersrand, Faculty of Commerce, Law and Management, Wits Business School, 2017en_ZA
dc.description.abstractThis study investigates the effects of M&A to investment returns in South Africa. The value of M&A executed in emerging economies (EM) is around $129 billion (The United Nations Conference on Trade and Development (UNCTAD), 2014) and this figure is projected to double in the next ten years bringing positive economic development in EM. In light of this perspective, there is renewed interest in understanding the economics of M&A in developing countries. Our aim was to assess the extent of mergers and acquisition on shareholder returns in South Africa using a case study approach. A case study approach was adopted in order to analyse the impact of specific events on shareholder value by date. Two prominent mergers involving acquiring companies from Developed Markets (DM) were selected namely AB Inbev (Belgium) and Walmart (US). As anticipated, the results show that each merger update announcement had an impact on the share price of the target based on the type of announcement. Positive news increased the share price and bad news adversely impacted the share price. Post the merger, Massmart’s headcount increased and profitability decreased. The same could not be measured for SABMiller as the company has been delisted.en_ZA
dc.description.librarianMT2017en_ZA
dc.format.extentOnline resource (80 leaves)
dc.identifier.citationMohapi, Doreen Sefalwana (2017) The effects of mergers and acquisitions on investment returns: cases of Massmart and SABMiller, University of the Witwatersrand, Johannesburg, <http://hdl.handle.net/10539/23216>
dc.identifier.urihttp://hdl.handle.net/10539/23216
dc.language.isoenen_ZA
dc.subject.lcshConsolidation and merger of corporations--South Africa
dc.subject.lcshInvestments, Foreign--South Africa
dc.titleThe effects of mergers and acquisitions on investment returns: cases of Massmart and SABMilleren_ZA
dc.typeThesisen_ZA
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