Resilience during the COVID-19 pandemic: The Alstom Bombardier transportation acquisition

Petratos, Pythagoras; Smith, Clara and Kassem, Rasha (2024). Resilience during the COVID-19 pandemic: The Alstom Bombardier transportation acquisition. In: Gupta, Suraksha; Gupta, Ashish and Kumar, Jitender eds. Building Resilience in Global Business During Crisis: Perspectives from Emerging Markets. Oxon, UK and New York, USA: Routledge, pp. 232–249.

DOI: https://doi.org/10.4324/9781032719870-15

Abstract

In January 2021, Alstom announced the completion of its acquisition of Bombardier Transportation (BT), a deal worth €5.5bn first announced a year earlier, just before the global COVID-19 outbreak. The success of Alstom’s large-scale cross-border acquisition of BT is a remarkable demonstration of corporate resilience. This case study contributes to the literature by examining corporate resilience, in particular Mergers and Acquisitions (M&A) in the context of various risks and uncertainties such as macroeconomic and regulatory risks, as well as the uncertainty caused by the COVID-19 crisis. In the face of these risks and uncertainties, Alstom managed to build resilience by successfully implementing a range of strategies and effectively leveraging key capabilities which enabled it to complete its acquisition of BT.

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