贝恩：2023全球并购报告(英文 140 页)

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Global M&A Report 2023

Contents

Letter from the M&A Team 1

State of the Market 3

Looking Back at M&A in 2022 4

Looking Ahead to M&A in 2023 12

Hot Topics 18

M&A in Times of Turbulence: Lessons from the Last Recession 19

When Buying (vs Building) Is the Right Move for Engine 2 24

Tougher Times: Putting the Diligence Back in Due Diligence 30

How to Avoid the Fault Lines Sending Tremors through

Cultural Integration in M&A 35

Industries 43

M&A in Aerospace and Defense: New Types of Deals in a Dynamic Industry 45

M&A in Automotive and Mobility: Finding Alternative Routes to the Future 50

What Consumer Goods Companies Are Learning from Alternative Deals 55

Retail’s New M&A Balancing Act 60

M&A in Diversified Industrials: ESG Plays Drive Breakthrough Capabilities 65

M&A in Energy and Natural Resources: Beating the Odds in Energy Transition Deals 69

M&A in Banking: Three Types of Deals for 2023 75

M&A in Insurance: There Are Insurtech Deals to Be Done, but Proceed with Caution 79

M&A in Payments: Four Ways That M&A Will Propel This Dynamic Sector 84

M&A in Wealth and Asset Management: How Deals Will Shake Up the Industry 88

M&A in Healthcare and Life Sciences: Why the Industry’s Wait-and-See Days Will End 93

M&A in Media and Entertainment: To Interactivity and Beyond 99

M&A in Technology: Never Waste a Good Crisis 102

M&A in Telecommunications: How the End of Free Money Opens Up New Opportunities 106

Regions 112

M&A in Brazil: A Nation Prepares for Changes 113

M&A in India: How Long Can This Hotspot Buck the Global Downturn? 117

M&A in Japan: Pressing Pause on Transformative M&A 122

M&A in the Middle East: How a Region Grows with M&A 125

Methodology 130

Key Contacts 134

内容

并购团队致辞 1

市场状况 3

回顾 2022 年的并购 4

展望 2023 年的并购 12

热点话题 18

动荡时期的并购：上次经济衰退的教训 19

何时购买（相对于建造）是 Engine 2 24 的正确选择

艰难时期：将尽职调查重新投入到尽职调查中 30

如何避免断层线通过地震

并购中的文化整合 35

产业 43

航空航天和国防领域的并购：动态行业中的新型交易 45

汽车和移动领域的并购：寻找通向未来的替代路线 50

消费品公司从替代交易中学到了什么 55

零售业的新并购平衡法 60

多元化产业并购：ESG 发挥推动能力突破 65

能源和自然资源领域的并购：在能源转型交易中克服困难 69

银行业并购：2023 年的三种交易类型 75

保险业并购：有待完成的保险科技交易，但需谨慎行事 79

支付领域的并购：并购将推动这个充满活力的行业的四种方式 84

财富和资产管理领域的并购：交易将如何撼动行业 88

医疗保健和生命科学领域的并购：行业观望的日子为何会结束 93

媒体和娱乐领域的并购：互动和超越 99

技术并购：不要浪费一场好的危机 102

电信并购：自由资金的终结如何开启新机遇 106

地区 112

巴西的并购：一个为变革做准备的国家 113

印度的并购：这个热点能抵御全球低迷多久？ 117

日本的并购：暂停转型并购 122

中东的并购：一个地区如何通过并购实现增长 125

方法论 130

主要联系人 134