DEVELOPMENT DIRECTIONS AS WELL AS SUCCESS FACTORS AND SOURCES OF FAILURES CONCERNING MERGERS AND COMPANIES ACQUISITIONS IN THE WORLD

Together with a start mass production by companies, it took place their roles division into owners and managers as well as the increase of demand for bigger capital resources. Dispersion of owners' functions which occurred was the fastest in the thirties in American enterprises. A result of this was entrusting specialists-managers with enterprise management as well as subordinating a policy of functioning to the rule of maximization values and benefits for owners. A consolidation activity taking on a large scale served to realization of this purpose and this activity became a main subject in a present paper. It also describes main concepts in relation to consolidation transactions and factors of success and failures in investments