The theoretical justification of selection of the mergers and acquisitions transactions stages

In the modern economy mergers and acquisitions (M&A) are becoming one of the most effective tools for implementing company development strategies. The advantages of this tool are capital increase, obtaining synergistic effects from merging companies, increasing market share, obtaining economies of scale, increasing customer base, improving production technology and management, increasing and realizing competitive advantages. The process of formation and implementation of the M&A transaction is a complex multi-step process, the study of which becomes an actual task of modern researches. This article analyzes the results conducted by scientists in the field of classifications of the stages of the formation and implementation of the M&A transaction. Classifications are characterized by the number of stages of the M&A transaction, the detailing of their description, the quality and completeness of consideration of certain aspects of the M&A transaction process. However, all classifications have a similarity in the overall concept and structure of the process of formation and implementation of the transaction. Based on the analysis, the author compiled the most general complex algorithm for the formation and implementation of the M&A transaction, considering the key stages with the required degree of detail. A brief description of the steps of the algorithm is also given. The proposed algorithm will allow the most complete and detailed study of all stages of the process of making a transaction of mergers and acquisitions.