The first benefit of a cross border acquisition is that the time frame is much shorter. A Greenfield investment is developed from the ground up, whereas an acquisition would be of an already existing development hence set market presence. This option may also be a much easier way to gain a competitive advantage while taking away a foreign competitor. Thirdly, foreign markets are considered imperfect, hence there may be options to acquire firms at a discount and so forth.
But as with local acquisitions there is the real chance of either paying too much or suffering excessive finance costs based on the acquisition. There is also the issue of trying to bring together two separate cultures, which can be even more problematic when the nationalities of firms are different. Also, managing a post-acquisition process can cause downsizing and re-scoping functions.