Auto Industry Overseas M&a Integration On Typical Cases

Along with the acceleration of world economic development and integration process, overseas mergers and acquisitions have become an important way of the world’s foreign investment, foreign cross-border M&A wave has been through five baptism. Since China joined the WTO organization, the case of overseas M&A growing number, particularly based on state-owned enterprises, but also set off a M&A boom in the energy class, asset class, high-tech industry category. With the rapid development of China’s automobile industry, the need for more access to foreign auto industry advanced technology and enhance our visibility in the international automotive sector, China’s automobile enterprises to enter the case of overseas mergers and acquisitions are also increasing, from2003which produce the first case of overseas mergers and acquisitions, in2009,2010, reached an unprecedented degree.Looking at the domestic and foreign scholars on the theory of mergers and acquisitions, the traditional theory is mostly concentrated in the M&A motives, mergers and acquisitions to match M&A performance, etc., with the increase in cross-border mergers and acquisitions integration instance, as well as M&A success rate of domestic and foreign scholars merger integration research has become increasingly concerned about, but has not yet formed a complete set of merger integration theory, and more scattered M&A theoretical study of the integrated concern focused on the integration method, integration of content and analysis of the integration process.Look at the instance of China’s automobile industry, there are only several successful cases. The main reasons is the failure of M&A integration phase. Therefore, this article specifically selected the first domestic car overseas mergers and acquisitions--2003SAIC acquisition of Ssangyong’s case to start, take the case studies and comparative analysis, through careful analysis of SAIC successful merger integration but failed all the reasons, combined with the merger integration process in the four variables---cultural integration, financial integration, asset integration, and integration of human resources analysis, summed up the reasons for the failure of SAIC integration phase. The same time, for Geely successful acquisition of the Volvo case put forward in the integration phase should be noted that the measures taken to ensure that Geely able to achieve its ultimate utility of mergers and acquisitions. This article is through a concrete analysis of the above two cases, the main line to the four basic variables in the integration process, the analysis summed up the integration phase should pay attention to issues and measures taken, so as to China’s automotive enterprises in overseas mergers and acquisitions integration links to provide a realistic reference views.This article is the automotive industry, overseas mergers and acquisitions as the object of study, has a certain novelty, breaking the previous domestic research emphasis on large-scale state-owned energy assets classes, conventional and high-tech electronic case, at the same time, the auto companies also conducted a multi-faceted study, both state-owned auto companies, private car companies, with some practical significance.