A Study On The Countermeasures Of Chinese Appliance Enterprises' Cross-border M & A In The Later Period In Financial Crisis

The Chinese industry and informationization department proposed explicitly that, we must cultivate about 5 internationalization appliance enterprise groups to have the synthesis competitive power diligently by 2015. In order to develop the international market and promote own international competitive power, our appliance enterprises have to seek the internationalization management opportunity through the cross-border M&A. At present, the world and Chinese economy are being at the reforming stage. The environment which our appliance enterprises'cross-border M&A is intriguing. How to realize our own strategic purpose through the cross-border M&A already became a difficult problem in front of our appliance enterprises.This article takes the foreign direct investment theory and M&A theory as the rationale, having discussed the history, characteristic and agent of our appliance enterprises'cross-border M&A, unioning the case already occurred, summarizing the question of our appliance enterprises'cross-border M&A. In this foundation, this article takes two transnational appliance enterprises as research sample, inducing their experience. In the research, this article takes two company's histories, the merger and acquisition process review and the typical case analysis as a key point, inducting and summarying experience through pro and con two aspect experiences and lessons. Next this article has analyzed the international (domestic) environmental variation of Chinese appliance enterprises' cross-border M&A in latter fanancial crisis time, subsequently elaborated the new environment characteristic. According to above viewpoint and the argument, this article summarizes countermeasures of Chinese appliance enterprises' cross-border M&A:Make accessing to technology as the main target, accelerate our appliance enterprises'green and low carbon transformation process; With "big four" enterprise groups headed by cross-border M&A; Make full assessment of the technology and brand to acquired enterprise; Reasonably combinating cash pirchase, stock purchase and integrated securities purchase; By external force, cultivate a professional cross-border M&A team; Complete human resource integration work earnestly; Multi-pronged, strengthen the integration of corporate culture; Fully consider uncertainty risk and challenges of cross-border M&A.Since the beginning of the 21st century, as one of our country marketability degree highest professions, our appliance enterprises'cross-border M&A has sometimes occurred. The financial crisis caused the various countries' economy especially the Western developed country economy produces undulated and glides down. It was really a big impact to our appliance enterprises who was taking exported as main guidance. But at the same time we also should see that the crisis brings the opportunity, encourages the domestic electrical appliances enterprise to develop the overseas merger and acquisition in the macro-scientific policy-making foundation, the full use, disposes the global resources reasonably, establishes own competitive advantage as soon as possible.At present, literatures that research enterprises' cross-border M&A are numerous, but very little has the opposite party industry this concrete profession research. This article is summarizing in fully the predecessor theory foundation,unifies the characteristic and antual environment of our appliance enterprises'cross-border M&A, uses the comparison analytic method, profits from the overseas enterprises' experience, hoping to enhance the conclusion the scientific nature and have the help to the next correlation theories research.