Mergers and Acquisitions (M&A) are a key phenomenon in financial markets. The volume of M&A transactions has risen since the 1990s in most countries and industries. The M&A phenomenon is particularly exciting in European banking: while European banking consolidation was a minor process during the 1990s in comparison to the U.S., the number and the value of deals in the European banking industry is currently similar to that of the U.S. Despite its importance, few books analyze M&A in European Banking.

This book advances prior literature by focussing on some specific aspects that have been investigated by only a limited number of previous publications. In doing so, Mergers and Acquisitions in European Banking will help provide regulators and bankers with policy guidance regarding the re-organization of banks post-crisis.

List of Tables and Figures
Preface
Acknowledgements
Why Study M&A in Banking?
Merger and Acquisition Trends in the European Banking
Why do Banks Merge?
M&A of Financial Institutions: A Review of the Literature
Do M&A's Create Value for Shareholders? The Short-term Wealth Effect
Do M&A's Create Value for Shareholders? The Long-term Wealth Effect
Do M&A's Create Value for Shareholders? The Effect on the Bank Efficiency
The Post-Acquisition Integration
Conclusions
References
Index

FRANCO FIORDELISI is Professor of Banking and Finance at the Faculty of Economics, University of Rome III, Italy. He is also Visiting Senior Research Fellow at Bangor Business School, UK, and at the Essex Finance Centre of the University of Essex, UK. His main research interest relates to the economics of banking and other financial institutions, focusing on efficiency, productivity and shareholder value creation. He recently published Shareholder Value in European Banking (2007) and New Drivers of Performance in a Changing Financial World (2008). He has acted as a consultant to many banks, leasing and factoring companies.