- The key messages of this paper are:
- The financial crisis and global economic slowdown have impacted the steel industry substantially, resulting in most companies being in a situation where they are less likely to make acquisitions in the upcoming year
- Mergers and acquisitions remain a vital strategic tool in business and steel companies need to master the ability to carefully evaluate potential targets and execute acquisitions swiftly. This will help them when the economy recovers
- Most companies will have to make progress in acquiring the core competencies needed in acquisitions, especially: integrating management process, managing cultural differences
and capturing synergies
- There’s no way to know for sure how the steel industry will look in the years to come
Nonetheless, the playing field is sure to hold fewer players, as consolidation regains its pace
- This reality comes the imperative to develop the capabilities that will allow a company to make the most of their acquisitions. Those who don’t master M&A may disappear from the field altogether—while those who do, emerge as the next industry leaders
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