The Research Of Some Problemes About Foreign Capital M&A Chinese Enterprises And Case Studying

The Foreign Direct Investment (FDI) have two styles: One is Establishing-Investment, or named "Green-field Investment" , the other is "Cross-border M&A Investment" , it means M&A between domestic companies and foreign companies. This Paper made a study of the foreign capital M&A Chinese enterprises. Main contents: the theory of the foreign capital M&A, the practice of the foreign capital M&A in China and the research of relative M&A cases.Cross-border Merger and Cross-border Acquisition were named for short "Cross-border M&A" generally. It means that the foreign company bought all assets or a part of shares of the host country' s company by a pattern of management way for operation authority of the host country' s company. The foreign capital merges amd acquires Chinese enterprises in order to control domestic company and get the surplus value and we introduce the foreign capital M&A into China in order to implement the purpose of domestic economy' s macro-topoligy adjustment and reform the old ownership system of state enterprises. But for the uncompleted policies, laws, supervise rules, the left-behind media institutions, naive securities market of China, the big difference between secondary stock market price and book value of the corporations and the defect of M&A target now, it is very hard to widely propose the foreign capital M&A and there are some problems to carry out it concretely.This thesis concentrates on the main idea that foreign capitalmerges and acquires Chinese enterprises and put emphasis on the chief battlefront of the foreign capital M&A —the foreign capital merges & acquires Chinese public offering companies in combination with the present situation; trend; policies; laws and extant problems of foreign capital M&A . The aim of this paper is studying and seeking the junction between foreign capital M&A and Chines enterprises' development and finding a development way for our enterprises; especially for Chinese public offering companies at present stage. We expect that the paper could contribute to the sound development of foreign capital M&A in China. The thesis was devided into five parts; beginning with basic concept ; the article has adequate rational by expounding the theory and main mode of the foreign capital M&A. Then; it analyzes bilateral main motive of international M&A ; the present situation ; trend ; policies and laws in combination with the practice of the foreign capital M&A in China and points the limited factors of the foreign capital M&A Chinese enterprises and emphasized analyzes the pattern selection of foreign capital M&A Chinese public offering companies detailedly.At the last; the paper pointed: we should promote the good development of foreign capital M&A actively and make proposal and countermeasure for it. From the principle which is theory should get in touch with practice; we emphasized study a typical M&A cases for these problems and the solving thought way : the first case of foreign capital merges & acquires Chinese public offering companies —SAsumg Kangning acquires Saige SAsumg.