The Research Of Chinese Petrochemical Enterprises For Across-Border Merger And Acquisition

Across-border merger and acquisition (M&A) has been favored by more and more enterprises with the development of globalization since 1990s. But M&A is a complicated system project which involves a great deal factors. So, the aim of this paper is how to apply this theory to a field, especially, are closely related to the national economy and the people's livelihood. This paper, through case studies, is to offer a feasible approach for Chinese petrochemical enterprises to combine M&A theory and practices efficiently.Firstly, it starts from reviewing the theories relative to across-border M&A, analyzing the causes and processes; Secondly, this paper proceeds to study global petrochemical status, inter-industry comparison between global petrochemical giants and Chinese; Thirdly, this paper also study the incentives and competition to across-border M&A, for China petrochemical giants; Finally, for further illustration, this paper selects some representative cases of across-border M&A related to Chinese petrochemical enterprises in recent years. One case is the failed attempt of China Nation Ocean Oil Corporation (CNOOC) to acquire American UNOCO; another case is about the successful acquisition of Nigerian oil field. Hopefully, this paper can contribute to Chinese petrochemical enterprises in their across-border M&A for internationalization.