Lazard：全球并购市场2025年回顾与2026年展望报告（英文版）

In today's economy, M&A serves as a critical channel through which operational know-how, technological capability, and managerial efficiency diffuse across a broadermarket.Stanford researchers have shown that by shifting underperforming assetsto higher rodut vty wners MeA can m prove fumylovel pertom ane andraltefesfect is partioulatly stromg h sectorswith a wide ranges f managerigl acabity-ye,achieved roughly 4 percent efficiency gains within eight months as stronger operatorsran ass