CNOOC's Acquisition Of Nexen Case Study

As early as in the national "Eleventh Five-Year Plan" period in 2000,the strategy for the Chinese enterprises to go abroad was formally put forward for the first time.With the motherland's prosperous and prosperous pace steadily moving forward,the "13th Five-Year Plan" in 2016 reaffirmed again.The importance of the “going out”strategy and the introduction of new concepts such as “supply-side reforms” in 2015 in response to the “Belt and Road” initiative proposed by General Secretary Xi in 2013 have stimulated Chinese enterprises to a large extent.Accelerating the pace of going out,since 2012,based on the overseas M&A transaction volume of Chinese companies by region,the two major blocks in Europe and North America have become a hot spot for Chinese companies' cross-border mergers and acquisitions,of which the European region has a compound annual growth rate of 32 Above%,North America's growth rate is more than 36%.In order to achieve breakthroughs in their own business scale,market share expansion,optimization of their own asset portfolios,access to emerging markets in emerging countries,access to technological breakthroughs,and other factors,Chinese companies have continued to integrate with global markets under the guidance of national strategies.With the stability of the new situation in China,the speed of overseas mergers and acquisitions may be reduced in the future,but the prospects for overseas investment are still worth the wait.This article mainly analyzes the case of CNOOC's merger of Nexen,and analyzes which state-owned large companies will make decisions based on merger and acquisition motives when conducting overseas expansion strategies,and what subsequent performance will be achieved in the capital market after mergers and acquisitions.Through the analysis of financial indicators data of enterprises after mergers and acquisitions in a certain period of time,to examine whether the enterprise in the later stage of the enterprise integration level is perfect,in the direction of mergersand acquisitions,the timing of mergers and acquisitions,the regional selection of mergers and acquisitions,the expectations of mergers and acquisitions In the target selection,whether the company really creates value through mergers and acquisitions and realizes the maximization of its own interests.Finally,based on this M&A hope,it can provide practical reference for Chinese enterprises in the implementation of the“going out” strategy in the future.