Top Banner

of 16

Analysis of mergers and acquisitions in the global aerospace and defense sector 2012

Apr 05, 2018

Download

Documents

Welcome message from author
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
  • 7/31/2019 Analysis of mergers and acquisitions in the global aerospace and defense sector 2012

    1/16

    D hvvhmc fmc r |m aIh|vr$pw`|rg|

  • 7/31/2019 Analysis of mergers and acquisitions in the global aerospace and defense sector 2012

    2/16

    Zgafmdg rm rng a`rgvr gbhrhmc miDhvvhmc fmcr|ma![zFv `c`axvhv mi dg|jg|v `cb `fpwhvhrhmcv hc rngjaml`a `g|mv{`fg `cb bgigcvg vgfrm|# Hc rnhv|g{m|r! xmwaa i cb `c myg|yhgz mi D)@ hc rngvgfrm| bw|hcj rng i |vr pw`|rg| mi

  • 7/31/2019 Analysis of mergers and acquisitions in the global aerospace and defense sector 2012

    3/16

  • 7/31/2019 Analysis of mergers and acquisitions in the global aerospace and defense sector 2012

    4/16

    2 [zF

    [g|v{gfrhygv5Rnmwjnrv mc bg`a `frhyhrx hc rng i |vr pw`|rg| mi

  • 7/31/2019 Analysis of mergers and acquisitions in the global aerospace and defense sector 2012

    5/16

    Dhvvhmc fmcr|ma 7

    Bg` a r m r ` av

    Pw`|rg|ax `g|mv{`fg `cb bgigcvg bg`a `frhyhrx

    Dg`vw|gb lx cwdlg| `cb y`awg mi bg`av zm|rn "7; dhaahmc m| dm|g .

  • 7/31/2019 Analysis of mergers and acquisitions in the global aerospace and defense sector 2012

    6/16

    9 [zF

    Bg`a frhyhrx lx cwdlg| mi bg`av

    Dg`vw|gb lx cwdlg| mi bg`av zm|rn "7; dhaahmc m| dm|g

    Cwdlg| mi bg`av

    Cwdlg| mi bg av g~fawbhcj bg av zhrn WV r`|jgrv `cb-m| `fpwh|g|v

    Cwdlg| mi bg`av zhrn WV r`|jgrv `cb-m| `fpwh|g|v

    ;

    0;

    ;'

    0;;'

  • 7/31/2019 Analysis of mergers and acquisitions in the global aerospace and defense sector 2012

    7/16

    Dhvvhmc fmcr|ma :

    Bg` a f` r gjm| hgv ` c b ` fpw h|g| r x{ gv

    6'

    Bg`av lx `g|mv{`fg ) bgigcvg f`rgjm|x

    Dg`vw|gb lx cwdlg| mi bg av zm|rn "7; dhaahmc m| dm|g

    @g|mv{`fg MGDv ) vw{{ahg|v

    D\M

    Bgigcvg

    V{`fg

    ;'

    '

    0>'

    6>'

    7;'

    :'

    7;'

    Bg`a `frhyhrx lx hcygvrm| j|mw{

    Dg`vw|gb lx cwdlg| mi bg`av zm|rn "7; dhaahmc m| dm|g

    Vr|`rgjhf hcygvrm|

    Ihc`cfh`a hcygvrm|

    ;'

  • 7/31/2019 Analysis of mergers and acquisitions in the global aerospace and defense sector 2012

    8/16

    > [zF

    Vgfrm| ahpwhbhrx cb agyg|`jg

    Dg`vw|gb lx `yg|`jg mi rm{ 7; jaml`a {wlahf fmd{grhrm|v

    F`vn ) gpwhy`agcrv .agir `~hv(

    Rmr a bglr-f`{hr a .|hjnr `~hv(

    ;#;

    ;#7

    0#;

    0#7

  • 7/31/2019 Analysis of mergers and acquisitions in the global aerospace and defense sector 2012

    9/16

    Dhvvhmc fmcr|ma 8

    ;! @67; `cb :>: {|mj|`dv# Rnhv r|`cv`frhmcvw{{m|rv R|`cvBhjdv fpwhvhrhmc j|mzrn vr|`rgjx# Rng mrng|a`|jg bg`a rnhv pw`|rg| z`v rng "2;; dhaahmc `fpwhvhrhmc mi

    WIF @g|mv{`fg lx LG @g|mv{`fg# Rnhv `fpwhvhrhmc hd{|mygvLG @g|mv{`fgv {mvhrhmc hc amjhvrhfv vg|yhfgv! `v WIF@g|mv{`fg hv ` bhvr|hlwrm| mi i`vrgcg|v! {`hcrv `cb rmmahcj#

    Hr hv bhii fwar rm b|`z mcg myg|`|fnhcj rngdg i|md rng a`|jgbg`av rnhv pw`|rg| jhygc rng |ga`rhyg {`wfhrx mi `fpwhvhrhmcv?nmzgyg|! hr hv cmrgzm|rnx rn`r lmrn mi rngvg bg`av hcymaygbWV `fpwh|g|v `cb r`|jgrv# Rnhv d`rfngv `c g~{gfr`rhmc rn`rWV gcrhrhgv zmwab b|hyg dmvr mi rng a`|jg| bg`av hc rngvgfrm|#

    Rng mwrammo im| dgj`bg`av myg| rng l`a`cfg mi

  • 7/31/2019 Analysis of mergers and acquisitions in the global aerospace and defense sector 2012

    10/16

    0 ; [zF

    Dgj` bg`av hc @g|mv{`fg

    D`| Rmjcwd @J Jg|d`cx Gcjhcg Nmabhcj JdlN Jg|d`cx Fmd{agrgb 2#:< Bgigcvg

    E`c HRR G~gahv Wchrgb Vr`rgv Vn`|gnmabg|v Wchrgb Vr`rgv Fmd{agrgb

  • 7/31/2019 Analysis of mergers and acquisitions in the global aerospace and defense sector 2012

    11/16

    Dhvvhmc fmcr|ma 0 0

    \gjhmc ` a

    Cm|rn @dg|hf`

    Amf`a

  • 7/31/2019 Analysis of mergers and acquisitions in the global aerospace and defense sector 2012

    12/16

    0 < [zF

    Znhag myg|`aa bg`a i mz z`v amz! Cm|rn @dg|hf` |gd`hcgb`frhyg hc rng i |vr pw`|rg| lgf`wvg mi rng rzm amf`a WV bg`av#

    @v hcbhf`rgb lx rng D)@ i mzv im| ;' 0;;'

    0;$xg`|vnhvrm|hf`a

  • 7/31/2019 Analysis of mergers and acquisitions in the global aerospace and defense sector 2012

    13/16

    Dhvvhmc fmcr|ma 0 6

    [z Fv `g|mv{ ` fg `c b b gigc vg g~{ g| hgc fg

    Bgg{ ` g| mv{ ` fg ` c b b gigc vg g ~{ g| hgc fg

    [zFv @)B {|`frhfg hv ` jaml`a cgrzm|o mi 0!

    8!;;; Hcbwvr|h`a [|mbwfrv {|migvvhmc`av77 @g|mv{`fg ) Bgigcvg hcbwvr|x {|migvvhmc`av

    @wvr |` ah` ) [`fhfff Hva cb v

    0!;;; Hcbwvr|h`a [|mbwfrv {|migvvhmc`av67 @g|mv{`fg ) Bgigcvg hcbwvr|x {|migvvhmc`av

  • 7/31/2019 Analysis of mergers and acquisitions in the global aerospace and defense sector 2012

    14/16

    0 2 [zF

    [z Fv jaml`a @g|mv{` fg c b Bgigcvg {|` frhfg

    [zFv @)B {|`frhfg {|myhbgv hcbwvr|x$imfwvgb `vvw|`cfg! r`~! `cb `byhvm|x vg|yhfgv# Rn|mwjn mw| jaml`a cgrzm|o! zg f`cb|`z w{mc rng hc$bg{rn hcbwvr|x g~{g|hgcfg mi {|migvvhmc`av hc gyg|x fmwcr|x zng|g xmw| fmd{`cx m{g|`rgv# Mw| {gm{agf`c nga{ xmw bg`a zhrn rng fn`aagcjgv mi rmb`x! `cb rngx wcbg|vr`cb rng hd{ahf`rhmcv im| rmdm||mz#

    Fmcr`f r v

    [zF WV

    WV @g|mv{`fg cb Bgigcvg Ag`bg|Vfmrr Rnmd{vm c/0#:;6#80>#08:9vfmrr#rnmd{vmcKwv#{zf#fmd

    WV @g|mv{`fg cb Bgigcvg R|`cv`frhmc Vg|yhfgv Ag`bg|Lml Amc j/0#:;6#80>#6;#02>;

    emg#dhfn`afuxoKwv#{zf#fmd

    WV @g|mv{`fg cb Bgigcvg R|`cv frhmc Vg|yhfgv Bh|gfrm|B`ag DfBmzgaa/0#:;6#80>#22:7b`ag#`#dfbmzgaaKwv#{zf#fmd

    WV @g|mv{`fg cb Bgigcvg @byhvm|x Ag`bg|Fn`| agv D`| ~/0#9;090fn`|agv#`#d`|~Kwv#{zf#fmd

    [zF Jaml` aJaml`a @g|mv{`fg cb Bgigcvg Ag`bg|Cgha N`d{ vmc/22#;2#82;7cgha#|#n`d{vmcKwo#{zf#fmd

    L|`uha @g|mv{`fg cb Bgigcvg Ag`bg|@wjwvrm @vvwcf`m /77#08#6:82#72;>`wjwvrm#`vvwcf`mKl|#{zf#fmd

    F`c`b` @g|mv{`fg cb Bgigcvg Ag`bg|D`|hm Amcj{ |g/0#702#9#jwhaa`wdg#|mfn`|bKi|#{zf#fmd

    Jg|d`cx @g|mv{`fg cb Bgigcvg Ag`bg|E|jgc Vghlg|ru/28#0#27

    ew|jgc#vghlg|ruKbg#{zf#fmd

    WV @g|mv{`fg `cb Bgigcvg R`~ Ag`bg|E`dgv J|mz/0#:;6#80>#627>

    e`dgv#l#j|mzKwv#{zf#fmd

    WV Hcbwvr|h`a [|mbwfrv D`|ogrhcj Bh|gfrm|Rnmd`v Z`aag|/0#8:6#06#62>#:>;7dhfn`ga#e#{m|rcmxKwv#{zf#fmd

    Hcbh` @g|mv{`fg cb Bgigcvg Ag`bg|Bnh|`e D`rnw |/80#00#2007#;6;8bnh|`e#d`rnw|Khc#{zf#fmd

    Hr`ax @g|mv{`fg cb Bgigcvg Ag`bg|Fm|| `bm Rgvrm| h/68#;9#7:;:8

  • 7/31/2019 Analysis of mergers and acquisitions in the global aerospace and defense sector 2012

    15/16

    Dhvvhmc fmcr|ma 0 7

    D gr n mb m amjx

    Dhvvhmc fmcr|ma hv `c `c`axvhv mi dg|jg|v `cb `fpwhvhrhmcv hc

    rng jaml`a `g|mv{`fg `cb bgigcvg hcbwvr|x# Hcim|d`rhmc z`vvmw|fgb i|md Rnmdvmc \gwrg|v `cb hcfawbgv bg`av im|znhfn r`|jgrv m| `fpwh|g|v n`yg {|hd`|x VHF fmbgv rn`r i`aahcrm mcg mi rng imaamzhcj VHF hcbwvr|x j|mw{v5 0( m|bc`cfg`cb `ffgvvm|hgv! g~fg{r ygnhfagv `cb jwhbgb dhvvhagv? zngc |gig|gcfgb ng|ghc! hv wvgb hcrg|fn`cjg`lax zhrnr|`cv`frhmcv `cb `ccmwcfgdgcrv# Wcagvv mrng|zhvgcmrgb! rng rg|d bg`av |gig|v rm `aa bg`av zhrn ` bhvfamvgby`awg mi `r ag`vr "7; dhaahmc#

    \gjhmc`a f`rgjm|hgv wvgb hc rnhv |g{m|r `{{|m~hd`rg WchrgbC`rhmcv .WC( \gjhmc`a J|mw{v `v bgrg|dhcgb lx rng WCVr`rhvrhfv Bhyhvhmc! zhrn rng g~fg{rhmc mi rng Cm|rn @dg|hf`|gjhmc .hcfawbgv Cm|rn @dg|hf` `cb A`rhc `cb F`|hllg`cWC j|mw{v(! rng @vh` `cb Mfg`ch` |gjhmc .hcfawbgv @vh` `cbMfg`ch` WC j|mw{v(! `cb Gw|m{g .bhyhbgb hcrm WchrgbOhcjbmd! {awv Gw|mumcg `cb Gw|m{g g~$WO `cb Gw|mumcg|gjhmcv(# Rng Gw|mumcg hcfawbgv @wvr|h`! Lgajhwd! Fx{|wv!Ihca`cb! I|`cfg! Jg|d`cx! J|ggfg! H|ga`cb! Hr`ax!Aw~gdlmw|j! D`ar`! Cgrng|a`cbv! [m|rwj`a! Vamygch`! `cbV{`hc# Mfg`ch` hcfawbgv @wvr|`ah`! Cgz Ug`a`cb! Dga`cgvh`!Dhf|mcgvh`! `cb [maxcgvh`# Myg|vg`v rg||hrm|hgv zg|ghcfawbgb hc rng |gjhmc mi rng {`|gcr fmwcr|x# Fnhc`! zngc|gig|gcfgb vg{`|`rgax! hcfawbgv Nmcj Omcj#

  • 7/31/2019 Analysis of mergers and acquisitions in the global aerospace and defense sector 2012

    16/16

    Yhvhr mw| `g|mv{`fg `cb bgigcvg hcbwvr|x zglvhrg `rzzz#{zf#fmd-wv-hcbwvr|h`a{|mbwfrv