Abstract

It examines the reasons that have led to the new wave of mergers and acquisitions, which are taking place primarily in industrialised countries. It has been triggered by a number of factors, but modern scientific and technological progress, economic regionalism and globalisation have a special place among them. The majority of mergers and acquisitions are horizontal. The internationalisation of ownership of emerging mega-corporations is expanding. The centralisation of capital is solving a number of looming problems, but at the same time is exacerbating some existing contradictions and creating new ones. This wave is continuing, although it weakened sharply in 2001, but it is possible that it will strengthen again once the next recession is over.