Merger And Acquisition Integration Issues Related To Research

In the competition of the market, only the stronger can live, superior win and the inferior wash out are the basic rules which the enterprise grows. The companies which want to survive the competition must unceasingly grow strong. There are two main roads that companies grow strong: One is the companies develop roll-like by themselves; another is the companies develop by exterior expansion, to be equal to the Merger and Acquisition. When the cost of buying another company by cash is lower than investing, it is indispensable and feasible to buying.Since the late 19 century, enterprise merger and acquisition surges like high tide and waves upon waves in the world scope. The histories of enterprises' development, especially the Multinational Corporation's, are the histories' of merger. The winner of the Nobel Economic Prize, American Economist George ·J ·Stigler once said None of the American big company has been grown up through some kind of degree, some way of annexation, nearly none of the big companies has been grown depended on the internal expansion. In our country, there are all kinds of the phenomena of merger and acquisition and more than twenty thousand companies involved.Merger and acquisition is a high-risk and high-return business. Many companies hope to transfer the industry crisis, avoid the investment risk, solve the trouble of debts, decrease the cost of labor and expand the company's scale by M&A. Though the M&A wave surges, the success rate is not high, compared to exciting amount of transaction cases of M&A. Neglecting the merger and postmerger integration is the most important reason for the failure of M&A. For a company that will carry out a M&A strategy, developing the ability for managing integration is more important than accumulation of capitals. Without excellent capability of managing integration, companies being crazy about M&A will expend huge cost but no returns.The paper consists of three parts, and the basic contents of each part as followed: In the first part, I introduced the theories about M&A. It composes of two chapters,...