I principali driver dell'attività di M&A nel Lusso tra Francia e Italia

This study investigates the main drivers of M&A activities in Fashion Luxury market between Italy and France. The objective is to answer the question whether certain targets accept take-overs, while others do not, focusing on target companies' points of view, on their characteristics and on their eventual different attitude towards bidders. At first, the analysis took in account the cases of Italian luxury players acquired both by Italian and French buyers. Through a linear regression, 10 models of variables, both financial and qualitative, have been accurately tested. Among the most significant results, we find out targets with characterized by high ROA levels and controlled by a family avoid accepting deals and selling their businesses. On the contrary, another remarkable take out is the positive correlation between deals and brands ownership. To further test what emerged from the linear regression, three cases of French brands acquired by Italian bidders have been analyzed as a countercheck.