Trend and Prospects of Mergers & Acquisitions in Thailand: Opportunities and Challenges for Investors
Abstract
Purpose: The study uses a qualitative approach, analyzing secondary data from government publications, financial databases, policy documents, and M&A case studies from the past decade. The data was analyzed thematically to identify consistent patterns across industries and investor segments.
Method: To achieve this aim, the study adopts a qualitative approach, utilizing secondary data derived from government publications, financial databases, policy documents, and recorded M&A case studies from the past ten years. Data were analyzed through thematic interpretation to identify consistent patterns across industries and investor segments.
Findings: The findings show that energy, finance, real estate, and digital industries lead M&A activity in Thailand. Foreign investors, particularly from Japan, China, and Singapore, play a key role, driven by ASEAN integration and pro-investment policies. Nevertheless, issues regarding regulation and licensing, as well as post-merger integration obstacles, continue to be significant challenges.
Implication: This discovery indicates that Thailand has strong potential as a regional M&A hub, supported by digitalization and post-pandemic changes. Regulatory adjustments are made to demonstrate ownership are expected to increase investor confidence. In addition, companies engaging in M&A must adapt to existing regulatory and cultural barriers.
Originality: Focusing on Thailand rather than the broader ASEAN context is the originality of this article. By incorporating sectoral trends and regulatory analysis, this study is expected to provide a clearer and more easily understood perspective for both investors and policymakers, as well as academics seeking insights into the ever-growing M&A landscape in Thailand.
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Copyright (c) 2025 Lela Ismawati, Alif Nurdiana Gita Suci Susanto, Nathalie Suharto, Ladira Imelia Syabrina Jaya, Revalia Nafisa Ni'mah Addadiyah; Diah Hari Suryaningrum
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