Dynamic Balance Evolution Of Corporate Mergers And Acquisitions Integration

Mergers&Acquisitions is an important trend during the world economy development nowadays. In recent years, the domestic M & A transaction scale grows steadily. In 2013, a historic highest record has been created in regard to the number of mergers and acquisitions and trading volume of which has been doubled year-on-year. However, research and practice show that many mergers & acquisitions activities are unsuccessful. Post-merger integration is the key to success.M&A integration study is a systematic engineering. Based on evolutionary perspective, this article makingmulti-use of numerous theoretical researches, such as resource theory, capability theory, synergistic effect theory, etc., and case study method, explores the associationsand alternating evolution process between business integration and human integration after the corporate mergers & acquisitions.Our findings reveal the “ambidexterity” of the inherent relationship between business integration and human integration. Itdescribes the dynamic balance essence of “business integration-human integration” shifting and alternative process. Additionally, our results also add our understanding of strategic logic co-evolutionary.By citing the road transport industry data, H Company’s own statistic data, as well as a large amount of research data, this article describes the background of H Company and its history on the way of M&A in the past ten years since founded,analyzesM&A modes, M&Acauses during each phase of the process. Through the analysis of dynamic balanceevolutionprocess of “Business integration-Human integration”during the H Company M&A, a dynamic balance framework is composed in this article to explicate the development process.The two dimensions of business integration and human integration run through the entire M & A activity, wherethey promote and constrain each other. With the constant changing of internal and external business environment, corporateM&A integration strategy is also being changed. According to corporate strategic objectives, in each development phase, there appears business integration /human integration leading, “Business integration and Human integration” shifting and alternating.The change is dynamic, but in a long-term perspective, there is relatively dynamic harmony,and approach to balance.