The Study And Selection About Chinese Enterprises' Transnational Merger And Acquisition Strategies

With the development of globalization, countries worldwide have been tightly dependent upon each other. Not any country could make successful economic construction without any interaction with other countries. As one of the fastest-growing economy units worldwide, China has had a deep understanding of the entry to and interaction with the world market after a painful history and years of reform and development. Furthermore, many of the huge enterprise groups of China have had sharp eyes with the changes of the world market. At present, after years of accumulation, Chinese enterprises have had a strong trend to the abroad M&A. Hence, it is particularly significant to analyze impartially the comparative advantages of Chinese enterprises, which offers them theoretical support and practical guidance.Chart analysis, SWOT analysis, and practicality option-pricing analysis theory are used in the article. This essay has explained the basic theoretical question of cross-border M&A at first. On the basis of defining cross-border M&A, it has reviewed the development course of Chinese enterprises' cross-border M&A, analyzed the strategic reasons of Chinese enterprises' cross-border M&A, through the analysis of the international investment environment and the comparative advantages of Chinese enterprises, the article proves the feasibility of Chinese enterprises' multinational M&A. Then according to the the operation analysis of M&A, separately analyzes the strategic modes of M&A,maily contains the choices of enterprises,the choices of time,the valuation for the target enterprises,and the way of payment. Brings forward the effective strategies of M&A. The article uses the study ways: Expounds current situation, theoretic analysis, positive analysis, and brings forward conclusion. At present, the study of multinational M&A mostly limits to the cases those foreign companies merger Chinese enterprises. There is little study about Chinese enterprises' M&A abroad, except some cases study. We have never seen the study about the strategy of M&A. So the arguments in the article, the feasibility of Chinese enterprises' M&A, the operation analysis of M&A, the choices of M&A object which is applies of option-pricing theory, are innovations in the study of M&A.By fully reasoning the relevant issues of Chinese enterprises' anticipation in the cross-border M&A transactions with a stepwise research method, this essay aims to provide Chinese enterprises with theoretical basis and tactic guidance for their cross-border M&A transactions.