Analysis Of The Reasons For The Failure Of ST Longli Bio-Cross-Border M&A

In order to meet the requirements of high-quality development,mergers and acquisitions,as an important means,can effectively expand the scale of enterprise management.In recent years,with the gradual diversification of mergers and acquisitions,China’s mergers and acquisitions cases increased rapidly,at the same time,the volume of mergers and acquisitions transactions is also getting higher and higher.However,with the increase of mergers and acquisitions,the success rate of mergers and acquisitions did not rise,but there were cases of failure of the probability.According to this phenomenon,a lot of research has been done on the literature at home and abroad,and found that the failure rate of mergers and acquisitions is much higher than our expectations,which leads to many reasons for its failure,which also demonstrates the research value of this thesis.ST Longli Bio decided to change the passive situation of enterprises through mergers and acquisitions to achieve a successful transformation.After investigation,it was finally determined that Xiamen Express Cloud and Zhaorong jointly as the acquisition target of the enterprise.After the adoption of the statutory merger procedure,in November 2015,with 1.015 billion yuan to implement the merger,but after the merger did not achieve the expected goals of the enterprise,but let ST Longli biological development in trouble,the enterprise’s net assets continued to be negative for three years,and finally,on May 22,2020,to receive the Shenzhen Stock Exchange "on Shandong Longli Biotech Co.,Ltd.stock termination announcement" to announce the failure of the merger.This paper takes this typical case of merger failure as the research object,takes the initial merger and acquisition motivation of the case enterprise,the performance change before and after the merger as the research entry point,combines the qualitative and quantitative method,analyzes the specific reasons that lead to the failure of the case enterprise merger and acquisition.The whole research process,including ST Longli biological pre-merger preparation,merger process and later integration work after the merger and acquisition,in order to find out the factors leading to the failure of mergers and acquisitions from the whole merger and acquisition activities,to make a targeted analysis of the emergence of specific reasons,hoping to be able to implement or intend to carry out mergers and acquisitions of enterprises some inspiration.