There has not yet been a single cross-border acquisition or merger among the large defence contractors.
"You have to worry about management and cultural issues that occur normally in any merger that may be much greater in a cross-border acquisition," Mr. Wallace said.
This will be MOL's second cross-border acquisition, having snapped up 36% of Slovnaft, Slovakia's sole refinery, in 2000, before acquiring majority control last November.
For they know something China is about to learn: it takes very hard work to make a cross-border acquisition succeed.
Bought American icon Bobcat for $5 billion last month the biggest cross-border acquisition in South Korean history.
Overall, there were 114 domestic and cross-border acquisitions and mergers involving UK companies in the first quarter, valued at about £68bn.
Continued growth, healthy balance sheets and steady cash inflows helped Indian software concerns make bold cross-border acquisitions of software, auto components, drugs, telecommunications and other businesses.
As cross-border acquisitions have proliferated and companies have moved manufacturing operations overseas, it has become increasingly difficult to categorize corporations and their products by country of origin.
After a brief fall following the financial crisis of 2008, the number and size of cross-border acquisitions by the challengers rebounded strongly in 2010.
Many of the deals were cross-border acquisitions, dominated by Spanish firms buying everything in Britain that was not nailed to the floor.
And a big part of Abenomics consists of prodding companies to become more global and less stuffy.Cross-border acquisitions have picked up.
