The Evaluation On The M&A Strategy Of The Yanjing Beers

As the further development of economic globalization, enterprises are facing more fierce competitions. Regarded as an important strategy for rapid expanding, M&A (merger and acquisition) has acquired more attention from China's enterprises. Compared with the M&A which has existed for more than one hundred years in the West, the M&A in China is still in the elementary stage. Therefore, it will be helpful in choosing settlement method for M&A to study and analyze M&A theory and the motivation, explore the ways of the strategic decision making and the evaluation of the target company, give a close look at the M&A trend.From analyzing the M&A strategy of Yanjing Beers, the author has concluded its experience of success so as to enlighten these ambitious State-owned Enterprises. This thesis first gives a brief introduction of Yanjing Beers'historical background, its motive of M&A and the reason of its success by means of performance evaluation. Considering many interior and exterior difficulties faced by Yanjing Beers, the thesis analyzes such aspects as industrial competition, the resources and capabilities of the company so as to support the idea that Yanjing's M&A strategy not only makes a good use of exterior opportunities, but also puts its own interior strengths into full play which is also the basis for its success. Besides, the company can effectively adjust its product portfolio and structures of organization to let it get better accustomed to the changes of the market and quickly realize the low-cost M&A strategy. At last, the thesis draws from Yanjing's experience two inspirations, which are worthy of the attention of other enterprises.