ABSTRACT
As highlighted in the first chapter of this book, in recent years mergers and acquisitions (M&As) have accounted for the majority of foreign direct investment (FDI), with the share of M&As in FDI even reaching 87 per cent in the industrialized countries (see table 1.6 in this book). It is reasonable to argue, therefore, that the recent growth in FDI is mainly due to the increase in international M&A activity. The rise in international M&As has been one of the most important factors behind the emergence of new global oligopolies in many industries.
