Mergers & acquisitions : a case of a merger between LVMH and Hermès
Autor(a) principal: | |
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Data de Publicação: | 2015 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.14/18244 |
Resumo: | The strong competitive environment that nowadays characterizes the Luxury Goods market has led companies to look for new alternatives of value creation. In this sense, Mergers and Acquisitions are found to be an alternative to increase shareholders wealth, since they allow companies to create value. The reasoning behind this deal lies on the cost synergies and efficiency that can arise from the combination of LVMH and Hermès. This dissertation focus on the analysis of a possible acquisition involving the two companies mentioned above. The synergies value is found to be € 5 773 million, which results in an equity value for the merged entity of € 53 215 million. As a result, an offer price of € 13 494 million is determined, from which € 5 398 will be paid in cash and € 8 097 with shares issue, resulting in a premium over the market cap of 36.99%. |
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Mergers & acquisitions : a case of a merger between LVMH and HermèsDomínio/Área Científica::Ciências Sociais::Economia e GestãoThe strong competitive environment that nowadays characterizes the Luxury Goods market has led companies to look for new alternatives of value creation. In this sense, Mergers and Acquisitions are found to be an alternative to increase shareholders wealth, since they allow companies to create value. The reasoning behind this deal lies on the cost synergies and efficiency that can arise from the combination of LVMH and Hermès. This dissertation focus on the analysis of a possible acquisition involving the two companies mentioned above. The synergies value is found to be € 5 773 million, which results in an equity value for the merged entity of € 53 215 million. As a result, an offer price of € 13 494 million is determined, from which € 5 398 will be paid in cash and € 8 097 with shares issue, resulting in a premium over the market cap of 36.99%.Tsvetkov, PeterVeritati - Repositório Institucional da Universidade Católica PortuguesaMira, Inês Alexandra Martins2015-09-15T13:26:37Z2015-07-0620152015-07-06T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10400.14/18244TID:201170671enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-02-06T01:35:09Zoai:repositorio.ucp.pt:10400.14/18244Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:15:14.514316Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Mergers & acquisitions : a case of a merger between LVMH and Hermès |
title |
Mergers & acquisitions : a case of a merger between LVMH and Hermès |
spellingShingle |
Mergers & acquisitions : a case of a merger between LVMH and Hermès Mira, Inês Alexandra Martins Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
title_short |
Mergers & acquisitions : a case of a merger between LVMH and Hermès |
title_full |
Mergers & acquisitions : a case of a merger between LVMH and Hermès |
title_fullStr |
Mergers & acquisitions : a case of a merger between LVMH and Hermès |
title_full_unstemmed |
Mergers & acquisitions : a case of a merger between LVMH and Hermès |
title_sort |
Mergers & acquisitions : a case of a merger between LVMH and Hermès |
author |
Mira, Inês Alexandra Martins |
author_facet |
Mira, Inês Alexandra Martins |
author_role |
author |
dc.contributor.none.fl_str_mv |
Tsvetkov, Peter Veritati - Repositório Institucional da Universidade Católica Portuguesa |
dc.contributor.author.fl_str_mv |
Mira, Inês Alexandra Martins |
dc.subject.por.fl_str_mv |
Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
topic |
Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
description |
The strong competitive environment that nowadays characterizes the Luxury Goods market has led companies to look for new alternatives of value creation. In this sense, Mergers and Acquisitions are found to be an alternative to increase shareholders wealth, since they allow companies to create value. The reasoning behind this deal lies on the cost synergies and efficiency that can arise from the combination of LVMH and Hermès. This dissertation focus on the analysis of a possible acquisition involving the two companies mentioned above. The synergies value is found to be € 5 773 million, which results in an equity value for the merged entity of € 53 215 million. As a result, an offer price of € 13 494 million is determined, from which € 5 398 will be paid in cash and € 8 097 with shares issue, resulting in a premium over the market cap of 36.99%. |
publishDate |
2015 |
dc.date.none.fl_str_mv |
2015-09-15T13:26:37Z 2015-07-06 2015 2015-07-06T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.14/18244 TID:201170671 |
url |
http://hdl.handle.net/10400.14/18244 |
identifier_str_mv |
TID:201170671 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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