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Corporate Development Award a look at past winners

The COVID-19 crisis meant the Corporate Finance Faculty couldn’t host its annual reception in 2020 to present the award. For UK-listed companies, successful use of M&A to outperform the market is key to winning

Corporate Financier article image The ICAEW’s annual Corporate Development Award, devised in 2012, is presented to a London-listed company that has made the most effective use of M&A to increase shareholder value and grow. It is based on a unique best-in-class methodology devised by the Corporate Finance Faculty with the M&A Research Centre, led by Professor Scott Moeller, at the Business School (formerly Cass), City, University of London. The assessment involves an empirical analysis of the contribution of substantial acquisitions to the acquiring companies’ total returns and corporate performance in the 30 months prior to the award’s presentation.

The faculty had to postpone its annual reception in November 2020 because of the pandemic. So instead, ICAEW’s David Petrie and Shaun Beaney asked Naaguesh Appadu and Anya Schneider at the business school to analyse the performance of the eight winners pre- and post-COVID-19 (see table).