Editing Mergers and acquisitions (section)

=== Introduction ===
In a study conducted in 2000 by [[Lehman Brothers]], it was found that, on average, large M&A deals cause the domestic [[exchange rate|currency]] of the target corporation to appreciate by 1% relative to the acquirer's local currency. Until 2018, around 280,472 cross-border deals have been conducted, which cumulates to a total value of almost US$24,069 billion.<ref name="imaa"/>

The rise of [[globalization]] has exponentially increased the necessity for agencies such as the Mergers and Acquisitions International Clearing (MAIC), trust accounts and securities clearing services for Like-Kind Exchanges for cross-border M&A.{{citation needed|date=November 2012}} On a global basis, the value of cross-border mergers and acquisitions rose seven-fold during the 1990s.<ref>United Nations Conference on Trade and Development, 2000, World Investment Report 2000: Cross-border Mergers and Acquisitions and Development (Overview), New York and Geneva, p. 10.</ref> In 1997 alone, there were over 2,333 cross-border transactions, worth a total of approximately $298 billion.
The vast literature on empirical studies over value creation in cross-border M&A is not conclusive, but points to higher returns in cross-border M&As compared to domestic ones when the acquirer firm has the capability to exploit resources and knowledge of the target's firm and of handling challenges. In China, for example, securing regulatory approval can be complex due to an extensive group of various stakeholders at each level of government. In the United Kingdom, acquirers may face pension regulators with significant powers, in addition to an overall M&A environment that is generally more seller-friendly than the U.S. Nonetheless, the current surge in global cross-border M&A has been called the "New Era of Global Economic Discovery".<ref>Ayisi-Cromwell, M. "The New Era of Global Economic Discovery: Opportunities and Challenges". Thomson Reuters Emerging Markets Investment Forum. New York, NY. 19 Sep. 2012. Chairman's Opening Remarks.</ref>

In little more than a decade, M&A deals in China increased by a factor of 20, from 69 in 2000 to more than 1,300 in 2013.

In 2014, Europe registered its highest levels of M&A deal activity since the financial crisis. Driven by U.S. and Asian acquirers, inbound M&A, at $320.6 billion, reached record highs by both deal value and deal count since 2001.

Approximately 23 percent of the 416 M&A deals announced in the U.S. M&A market in 2014 involved non-U.S. acquirers.

For 2016, market uncertainties, including Brexit and the potential reform from a U.S. presidential election, contributed to cross-border M&A activity lagging roughly 20% behind 2015 activity.

In 2017, the controverse trend which started in 2015, decreasing total value but rising total number of cross border deals, kept going. Compared on a year on year basis (2016–2017), the total number of cross border deals decreased by −4.2%, while cumulated value increased by 0.6%.<ref name="imaa"/>

Even mergers of companies with headquarters in the same country can often be considered international in scale and require MAIC custodial services. For example, when Boeing acquired McDonnell Douglas, the two American companies had to integrate operations in dozens of countries around the world (1997). This is just as true for other apparently "single-country" mergers, such as the $29-billion merger of Swiss drug makers Sandoz and Ciba-Geigy (now Novartis).