Comparative analysis of cross-border M&AS in EU and Republic of Croatia in period 2013 - 2017

Cross-border mergers and acquisitions are crucial for the competitiveness of corporations as well as for the global economy and their intensity isaffected by the availability of funding sources, capital market development, regulatory restrictions and technological shocks. Only in April 2017, 1,026 transactions totaled $ 229.9 billion which represents an increase of 3.8% in the total transaction value (although the absolute number of transactions was lower by 530 compared to April 2016). The key objective of this paper is a comparative analysis of activities of cross-border mergers and acquisitions in the Republic of Croatia with the EU countries in the period from 2013 when the Republic of Croatia became a member of the EU until the end of 2017. Analyzed transactions are precisely cross-border acquisitions since they account more than 95% of all cross-border transactions in EU countries. The paper focuses on identification of number and value of cross-border merger and acquisitions in the Republic of Croatia in relation to other EU countries with detailed description of the largest cross-border transactions in the Republic of Croatia and EU in the observed period. The structure of the modalities of mergers and acquisitions in the Republic of Croatia will be compared with other EU countries. The expected contribution is related to the description, analysis and synthesis of European and Croatian experiences in cross-border mergers and acquisitions in order to identify trends and to address the challenges.