The Analysis Of Chinese Enterprises Overseas M&A

With the globalization of economy, the overseas M&A has become the dominant force in the world economic development. Through the enterprise in the world, not only brings trade and technical recourses, but also promoted the rapid flows of global capital.2009,the global financial crisis, our company overseas M&A but climax, ushered in the new peak, become our country enterprise "to walk out" landmark year. According to the latest statistics in show clear division group,2009acquisitions overseas events occurred in28,disclosure amount of$33billion last year, more105.4%stronger than expected degrees.At the end of2012, Deloitte issued a report pointing out that Chinese Enterprises had made a Remarkable achievement in overseas M&A transactions. From the view of numbers, from the second half of2011through the first half of2012, Chinese overseas M&A transactions had explosively increased. The total amounts were up to34.2billion US dollars. The finished transaction was up to143, with36quarterly, compared to only16per quarter from2010to the first half of2011. In April of2012, the Asia Society in US issued a report saying that Chinese overseas direct investment was at a starting point of a round of exponential rise. It was anticipated that Chinese overseas investment would climb up to2trillion US dollars in2020. Chinese enterprises had had business within35states out of50In US. Yet from the whole, China was still among the smaller foreign investors to US. From this point, the second largest Economy was similar to the countries as New Zealand and Austria. As such, compared to the overall scale of Chinese economy, Chinese overseas M&A is still at its early stage. Facing complicated changing situations. Chinese enterprises should make themselves ready.Oversea M&A (merger and acquisition) of China Company result the adjustment requirement of industry framework, the great surplus of domestic capital and the appreciation pressure of RMB. Related date show that it has come the era of oversea merger and acquisition of China Company. However, whether the oversea M&A result accords with the original motivation of China Company? Whether the oversea M&A helps maximize China Company’s value? Whether the oversea M&A of China Company could last long? Notable is, although overseas acquisition scale expansion in China, but the process is acquisition overseas enterprises plodder. Restricted by many factors, the enterprise nearly70%of the overseas acquisitions failed, especially since2004,the American language since the court,Lenovo, TCL, utstarcom etc. Many companies in foreign encountered lawsuits. Several companies in overseas acquisition process in litigation, just embarrassing highlights China enterprise legal risks in the whole "absence".The main contents and concisions of this dissertation are as follows:Chinese overseas M&A Evolution and Contemporary Status."In this section,the evolution is divided into four phases:Embryonic phase, Preparation phase, staring phase and growing phase; the contemporary status and main problems are also deeply analyzed. The main problems of Chinese overseas M&A risks, lack of cultural integrity experience and cadres of rich multinational management experience, cognitive deviation of M&A objectives caused by information asymmetry, and "hidden reefs" of oversea M&A, etc. This research is of great significance and guiding value to Chinese overseas M&A practice.