| It has been clearly demonstrated by many unsuccessful M&A cases that exterior economic institutional factors,mis-oriented M&A strategy and mismanagement of integration have become the major causes of unsuccessful M&A. Along with improvement of China's economic institutions, the factors other than exterior economic institutions have been the major ones hindering successful M&A, therefore, this thesis particularly emphasizes on key enterprise interior factors to study M&A strategy and integration model from the perspective of core competence.Existing literatures of M&A mostly focus on M&A motivation and effect study, yet theoretical study of post-M&A resource integration and value-creation process is relatively lacking, rendering lack of theoretical foundation of M&A operation. Based on theoretical analysis and case study of Chinese enterprises, the thesis probes into M&A strategy and integration model from the perspective of acquiring, strengthening, and extending core competence.This thesis falls into five chapters. In the first chapter, the thesis analyzes major causes for many unsuccessful M&As, and suggests carrying out M&A strategy and integration from the perspective of acquiring, strengthening, and extending core competence, which has a profound meaning in theory and practice. In the second chapter, the thesis makes a full review of core competence theory and M&A theory, paving way for following research. In the third chapter, the thesis frames a Identification and Assessment model on core competence with fuzzy analysis method. In the fourth chapter, the thesis firstly makes some discussions about acquiring, strengthening, and extending core competence based on selection of M&A strategy. Then it proposes some thoughts on assessing M&A performance from two aspects of strategic assets and general function activities. The last chapter is about a case study of Nanjing Golden Eagle International Group about its M&A activities based on the above research.
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