ANALYZING COMPANY VALUATION AFTER MERGER AND ACQUISITION IN PETROCHEMICAL COMPANY FINAL PROJECT In partial fulfilment of the requirements for the master’s degree from Institut Teknologi Bandung By BEFFY ARPY IRAWAN Student ID: 29121535 (Master of Business Administration Program) INSTITUT TEKNOLOGI BANDUNG July 2023 i ABSTRACT ANALYZING COMPANY VALUATION AFTER MERGER AND ACQUISITION IN PETROCHEMICAL COMPANY By BEFFY ARPY IRAWAN Student ID: 29121535 (Master of Business Administration Program) Examines the merger and acquisition between Industries Qatar Q.P.S.C(IQCD) and Mesaied Petrochemical Holding (MPHC) in the petrochemical industry. The aim of this study is to analyze the motives behind the merger, evaluate its impact on the companies involved and the industry as a whole, and assess the challenges and opportunities encountered during the integration process. The research methodology involves collecting financial data, industry reports, and relevant information from the companies that have undergone the acquisition. Analysis is conducted to compare the company's value before and after the acquisition. Furthermore, this research evaluates the financial performance of the merged entity, examining key financial indicators such as revenue growth, profitability, and return on investment. It investigates the market position and competitive advantage of the merged entity in the petrochemical industry, considering factors such as market share, customer perception, and innovation capabilities. The research concludes with a critical analysis of the lessons learned from the IQCD-MPHC merger, providing insights considering similar transactions in the petrochemical industry. The study contributes to the existing body of knowledge on mergers and acquisitions, offering valuable insights into the strategic, financial, and operational implications of such transactions. Keywords: company valuation, merger and acquisition, petrochemical industry, integration process, financial performance, market position, competitive advantage, lessons learned ii ABSTRAK MENGANALISIS NILAI PERUSAHAAN SETELAH MERGER DAN AKUISISI DI INDUSTRI PETROKIMIA Oleh Beffy Arpy Irawan 29121535 (Program Studi Magister Administrasi Bisnis) Menguji penggabungan dan akuisisi Industries Qatar Q.P.S.C(IQCD) and Mesaied Petrochemical Holding (MPHC) dalam industri petrokimia. Tujuan dari studi ini adalah menganalisis motif di balik penggabungan ini, mengevaluasi dampaknya pada perusahaan yang terlibat dan industri secara keseluruhan, serta menilai tantangan dan peluang yang dihadapi selama proses integrasi. Metodologi penelitian ini melibatkan pengumpulan data keuangan, laporan industri, dan informasi terkait dari perusahaan yang mengalami akuisisi. Analisis dilakukan untuk membandingkan nilai perusahaan sebelum dan setelah akuisisi, Selanjutnya, penelitian ini mengevaluasi kinerja keuangan dari entitas yang digabungkan, menguji indikator keuangan utama seperti pertumbuhan pendapatan, profitabilitas, dan return on investment. Penelitian ini menyelidiki posisi pasar dan keunggulan bersaing entitas yang digabungkan dalam industri petrokimia, dengan mempertimbangkan faktor seperti pangsa pasar, persepsi pelanggan, dan kemampuan inovasi. Penelitian ini menyimpulkan dengan analisis kritis terhadap pelajaran yang dipetik dari penggabungan IQCD-MPHC, memberikan wawasan bagi perusahaan lain yang mempertimbangkan transaksi serupa dalam industri petrokimia. Studi ini berkontribusi pada pengetahuan yang ada mengenai penggabungan dan akuisisi, menawarkan wawasan berharga tentang implikasi strategis, keuangan, dan operasional dari transaksi tersebut. Kata kunci: nilai perusahaan, penggabungan dan akuisisi, industri petrokimia, proses integrasi, kinerja keuangan, posisi pasar, keunggulan bersaing, pelajaran yang dipetik. iii ANALYZING COMPANY VALUATION AFTER MERGER AND ACQUISITION IN PETROCHEMICAL COMPANY VALIDATI ON PAGE By Beffy Arpy Irawan Student ID: 29121535 Master of Business Administration Program Institut Teknologi Bandung Approved Date ………………………. Supervisor (Dr. Subiakto Soekarno, MBA, RFA, QWP, CFP) NIP 115110003 iv DECLARATION OF NON - PLAGIARISM DECLARATIONPAGE v TABLE OF CONTENTS ABSTRACT . ..........................................................................................................