Exhibit 19.2 Driving Forces Behind Cross-Border M&A Cross-border M&A activity Changes in the Global Environment ·Technology New business Regulatory framework opportunities Capital market changes and risks ↓↓↓ ↑↑↑ Firms Undertake M&As to: Strategic responses by Access strategic propriety assets firms to defend and Gain market power dominance enhance their competitive ·Achieve synergies positions in a changing ·Become larger environment. Diversify spread risks Exploit financial opportunities Time Source:UNCTAD,World Development Report 2000:Cross-border Mergers and Acquisitions and Development,figure V.1.,p.154. Copyright 2007 Pearson Addison-Wesley.All rights reserved. 19-8Copyright © 2007 Pearson Addison-Wesley. All rights reserved. 19-8 Exhibit 19.2 Driving Forces Behind Cross-Border M&A