A Research On Chinese Enterprises Overseas M&A Under The Financial Crisis

The international financial crisis has brought opportunities for the Chinese enterprises to speed up the implementation of "going out" strategy, but overseas M & A (Mergers and Acquisitions) for chinese enterprises is still in early stages owing to the lack of cogitation in Strategic level, lower acknowledgment and participation, and the weakness of post-merger integration. Therefor, the study of M & A theory combined with the practice of acquisitions, deep analysis of China's overseas M & A problems and then the propounding of countermeasure, which have great significance to the development of chinese enterprises' overseas mergers and acquisitions.This paper summarizes current situation and characteristics of the M&A of chinese enterprises, and give the specific analysis of some representative cases like acquisition of Rio Tinto by Chalco. And then to make further analysis of the Chinese overseas M & A opportunities and challenges, to indicate that the international financial crisis has brought opportunities but also challenges to chinese enterprises. The overseas M & A benefits from domestic and international environment facing austere challenges at the other way which includes Economic Politicization caused by state-owned enterprises, lack of strategic planning and inadequate preparation, shortage of cross-border management talents, insufficiency of Human Resources Integration capacity, and financial pressure etc. Finally, propounds the specific countermeasures for reducing overseas M & A risks, increasing success ratio of overseas M & A.