ABSTRACT
We conclude by highlighting briefly the important trends, drivers and performance of the UK CBM&A. First, over the past 30 years, CBM&A have become a popular means of worldwide flow of FDI. The growth of CBM&A activities in 1990s has been seen as the ‘fifth merger wave’ by scholars in this field. Most of the theories used to explain why FDI and domestic M&A take place including the eclectic paradigm, the internationalization theory, the resources-based view of firms, the industrial organization theory, synergy, the valuation theory and diversification are also applicable to CBM&A.
