Pre-and post crisis analysis of the industrial consolidation in the utilities sector

Marc Petz, David Edgar, Klaus Dieter Maier, Bryan Temple

    Research output: Contribution to journalArticle

    Abstract

    This empiric study analyzes the Mergers & Acquisition (M&A) activities of stock-listed utilities companies. The study provides a sector analysis on how the industrial consolidation took place in the past and how it will develop in the next decade. Industrial consolidation is a global mega-trend that evolved during the last three decades – also in the utilities sector. Privatization and market liberalization are the initial key transformation processes for the M&A activity in this industry. As first result of all: The companies participated in the survey take the crisis as advantage for opportune asset acquisition options. Although the trend of M&As declined after the peak in 2007 some find themselves in a more favorable situation than competitors. A survey participator expressed the current situation with “business as usual”. The majority of the survey participants prognosticate an increasing concentration in their domestic markets. The future industrial consolidation will be the result of regulatory pressure, further privatization/liberalization and/or will be market driven.

    Original languageEnglish
    Pages (from-to)92
    Number of pages1
    JournalJournal of Business and Economics
    Volume2
    Issue number2
    Publication statusPublished - 1 Mar 2011

    Keywords

    • utilities companies
    • crisis analysis
    • industrial consolidation

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