Chinese Enterprises Overseas M&A Cross-cultural Integration

With China’s reform and opening up, Chinese enterprises has become the important force participating in economic globalization actively. Within global range, merger and acquisition has become the important transnational investment mode increasingly. Many companies succeed in the market of M&A, but more cases prove to be an abortion. If we analyze the reason in-depth study, it is not difficult to find the failures related to cultural friction and differences.Although Chinese companies have made great achievements in transnational operations, because of the late and hesitant starter, they still lack experience, international talent and global resource integration capability. Based on the special nature of Chinese enterprises cross-culture M&A, this thesis analyses the impact of nation culture differences and enterprises culture differences on the modes of culture integration, and sums up the key impact factors to the mode selection in culture integration of cross-culture M&A.After the failure in diversification, Lenovo Group decided to aim at internationalization, centralize superior resources and return core business in PC market. In order to make Lenovo stand in international brands, in this case, Lenovo chose to merge IBM’s PCD. After the merger Lenovo turn out to be the world’s third-largest PC manufacturer and achieve remarking business performance. Lenovo Post-Merger integration is a classic case of Chinese enterprises’ transnational merger, which offered a practical significance on Chinese interactional merger, Post-Merger integration theory and practice.With the case of Lenovo’s acquisition of IBM PCD, this thesis analyses and summarizes how to select dynamic culture integration mode and detailed steps in the process of integration. At last it attempt an double dimensions evaluation of post-merger short-term performance and long-term effects to provide a reference for cross-border mergers and acquisitions in China...