Cross-Border Mergers and Acquisitions The drivers of M&A activity are both macro in scope (the global competitive environment) and micro in scope (the variety of industry and firm-level forces and actions driving individual firm value). The primary forces of change in the global competitive environment-technological change,regulatory change,and capital markets change -create new business opportunities for MNEs. Copyright 2007 Pearson Addison-Wesley.All rights reserved. 19-9Copyright © 2007 Pearson Addison-Wesley. All rights reserved. 19-9 Cross-Border Mergers and Acquisitions • The drivers of M&A activity are both macro in scope (the global competitive environment) and micro in scope (the variety of industry and firm-level forces and actions driving individual firm value). • The primary forces of change in the global competitive environment – technological change, regulatory change, and capital markets change – create new business opportunities for MNEs