Research On Integration Of Post Cross-border Merger And Acquisition Of Chinese Enterprises

Currently, whether domestic or international, the act of cross-border M&As arc spawned, especially since China's accession to the WTO, reports on M&A has become more frequently. Cross-border M&A is an effective way to make domestic enterprises bigger and stronger. Through M&A, China enterprises can participate in international competition. Apparently, through cross-border M&A, China enterprises can not only get effectiveness, shorten construction time and reduce the large number of investment funds but also make use of ready-made marketing channel or production equipment, expanse product lines rapidly, master advanced technology and management know-how, enter new market or new industry rapidly. M&A can even improve the efficiency of the merger enterprise, access to market share and expand business scope and visibility.More than eighty percent failures of M&A cases are due to the failure of post M&A integration directly or indirectly. Though the success of cross-border M&A is directly linked to specific operations, the key factor depends on whether the merger firms can effectively integrate and the competitiveness of enterprise is really enhanced. From a global perspective, the reason for the failures of cross-border M&A is resulted from lack of post M&A integration, thus research on post cross-border M&A integration is very necessary.This paper based on the cross-border M&A theory and Lenovo's Merger and Acquisition of IBM; so that some insight thoughts for Chinese enterprises take post cross-border M&A integration can be drawn. This paper consists of 4 parts. The first chapter comes with a brief introduction of basic concepts of cross-border M&A. integration and recent development of Chinese Cross-border M&A. The second chapter gives an introduction on theories of post cross-border M&A integration, they are transaction cost theory, theory of the growth of the firm, competitiveness theory and the capability theory of firm and analyzes principles and target of post M&A. problems in the integration process. The following chapter analyzes aspects of post cross-border M&A integration from management, operation, human resource and culture, and analyzes the case of Lenovo's Merger and Acquisition of IBM. Chapter forth posts some feasible suggestions to Chinese enterprises going through post cross-border M&A integration.