Analysis of the effectiveness of mergers and acquisitions in 2009–2019 in Poland

Abstract

The basic motive for the functioning of enterprises is the maximization of benefits by achieving positive financial results with the minimum possible involvement of the company’s capital. Each positive result
that the company can achieve from its activities is treated positively by its stakeholders, as it contributes
to the growth of its economic potential. However, to achieve it, certain processes must be carried out, which directly aim at generating appropriate value through cooperation with other entities on the market. Among such processes, there are transaction operations based on the merger and acquisition mechanism. It should be emphasized that they are generally perceived as positive measures, and sometimes—from an economic perspective— even necessary. The main purpose of the article is to review the most valuable M&A transactions among capital groups operating in Poland. The added value of the article is the possibility of developing research towards the benefits of mergers and acquisitions, as well as extending observations to other economic sectors and geographic locations (in particular, the assessment of the effects of mergers and acquisitions in other countries of the world). The conclusions from the article may indicate that the M&A sector has stabilized in recent years, as well as the positive benefits of these transactions.