The impact of mergers and acquisitions on the competitiveness of enterprises

The subject of the study is the processes of mergers and acquisitions of enterprises in the
process of increasing competitiveness.
The purpose of the study is to analyze the impact of mergers and acquisitions on the competitiveness
of enterprises.
Research methods. The methods of analysis and synthesis, generalization of data, systematization
of material are used in the work.
Results of work. The article investigates the essence of the concepts of «merger» and
«acquisition», summarizes the approaches of different scientists and offers its own definition of these
concepts. It is established that there are three main groups of motives that motivate enterprises
to merge and acquire, in particular internal ones, due to the need to find a new direction for their
further development; external, caused by changes in the business environment; personal interests
of company management. It has been found that mergers and acquisitions are characterized by the
effects of synergies, diversification, tax benefits, individual motives of owners or managers. But these
processes have both advantages and disadvantages that must be taken into account when deciding on
the time of merger or acquisition. The main advantages of mergers and acquisitions, which contribute
to the competitiveness of enterprises, in particular, the economies of scale; combining complementary
resources; financial savings by reducing costs; increasing market strength due to reduced competition
(monopoly motive); complementarity in the field of scientific and technical work.
Field of application. Business management at the highest level.
Conclusions. The results of the study suggest that at the present stage of development of the
domestic and world economy, the processes of mergers and acquisitions can provide Ukrainian
enterprises with a sufficient level of competitiveness in the international market, gaining a number of
competitive advantages.