Deal Makers Seek Growth in Emerging Markets

ByJeffrey Friedland:The steel industry in the United States has been singled out as a bright spot in the global steel industry, with U.S. Steel Corp. (X), Nucor Corp. (NUE) and AK Steel Holding Corp. (AKS) being key beneficiaries.

Editor’s Note: Daniel Wolf is a partner at Kirkland & Ellis focusing on mergers and acquisitions. The following post is based on a Kirkland memorandum by Mr. Wolf, Matthew Solum, Joshua M.

The New York Times Dealbook published an article last week on a corporate deal that worked for the right reasons (see A Merger that Works). According to the NY Times: Academic studies generally support the idea that shareholders of companies that make acquisitions get the short end of the stick.

A spate of multibillion-dollar mergers and acquisitions surprised investors, who had expected deal activity to slow in a grim economic environment.

In the first annual gain in deal-making worldwide since the financial crisis, the value of mergers and acquisitions rose 23.1 percent in 2010, to $2.4 trillion.

By Sarfaraz A.

By Caiman Valores:The onward march of economic globalization has been a key catalyst in the explosive growth of emerging markets. With the advent of the Global Financial Crisis ('GFC'), which shook developed economies and investment markets to the core, combined with the never ending fallout from the ongoing European financial crisis, these economies have gone on to become the drivers of global economic growth.