The Study Of M & A Of Livzon Group Based On Strategic Resource

With increased competition in the industry and national policy guidance, M & A pace of China's pharmaceutical industry gradually accelerated. The history of Western enterprises in developed countries show that mergers and acquisitions wave always co-exist with economic prosperity. China is now in rapid economic development period, you can take advantage of the favorable period of economic prosperity, through restructuring, mergers and other economic means to adjust economic structure, optimize the allocation of social resources. Large-scale mergers and acquisitions to help expand the scale of domestic enterprises, to achieve industrial upgrading, so as to promote industrial restructuring of the whole society, to promote the optimal allocation of social resources, and enhance China's overall industrial and economic competitiveness.As an emerging market and transition economies, China M & A motives, whether mergers and acquisitions, integration mechanisms, or the degree of government intervention, have clearly demonstrated well-developed capital markets and the West different characteristics. As China's socialist market economic system, the gradual improvement of institutional factors other than mergers and acquisitions for the formation of constraints have become increasingly prominent, in this case, choose a representative of the industry case studies of mergers and acquisitions will undoubtedly have some reference. This paper through the introduction of strategic resources to strengthen the core competence for the role of research, focusing on mergers and acquisitions and the integration model point of view, the issue of mergers and acquisitions.Current literature for mergers and acquisitions are mostly concentrated in motivation and effectiveness analysis, under the guidance of the strategic, focusing on strategic resources and the introduction of post-merger integration of resources and the creation of the relative lack of effectiveness research. At the operational level and lack of theoretical support. This paper combines M & A practice group Franc case, the theory of strategic resources in the review, access to resources based on strategic mergers and acquisitions and corporate strategic management theory, the theory based on the latest research to explore the resources based on strategic acquisitions to strengthen core capacities for role models and resource integration.In a typical case of mergers and acquisitions market - Franc Group as a case study objects, resource acquisition from a strategic point of view of its M & A motives, mergers and acquisitions process, the combined analysis of the performance achieved from the motivation - behavior - integrated causal chain sequence analysis of Livzon Group M & A process characteristics; research and analysis of performance before and after mergers and acquisitions change the situation from various stakeholders theme design performance evaluation, analysis of mergers and acquisitions, after a change in the performance of stakeholders. Clear that the concept of strategic resources based on the model of mergers and acquisitions, characteristics, and can learn from the acquisition mode.Livzon Group's acquisition of Case by the specific analysis, that the acquirer holds sufficient cash, the acquisition of both the core competitive advantage of complementary and effective integration of resources, business strategy is to ensure that a sufficient condition for the success of mergers and acquisitions. Clear that access to resources based on strategic mergers and acquisitions must be to nurture, strengthen the core competitiveness of the premise, only to ensure the future development of the core competitive advantage.