International M&A Using Leverage: A Case Study Of MITENO

Since the financial crisis in 2008,China's international mergers and acquisitions(M&A),both in the amount of transactions or quantity of transactions,have been increasing year by year.Chinese government has been encouraging Chinese enterprises to implement the "going out" strategy in order to deal with the development trend of globalization policies for many years.Thanks to this government policy,M&A has become an important approach for Chinese enterprises to become bigger and stronger as long as to improve their international competitiveness.Thus,international M&A has been attracting researchers' attentions globally.However,under such a strong support,Chinese enterprises international trials are still unsuccessful and international M&A failure rate is still high.Because of the large amount of payment and the huge risk of the international M&A,the success rate of "asymmetric" is relatively low,so it is urgent to explore a way of international M&A to resolve such dilemma successfully.The main research methods in this paper are literature review,comparative analysis and case study.First of all,we summarize the existing literature,and put forward the relevant assumptions:Enterprise in international M&A,the macro and micro factors will influence the success or failure of enterprises international M&A,especially managed to flee through "asymmetric" way of international M&A,corporate combined with its own development present situation,formulate reasonable organization structure is the first premise of international M&A success;Enterprises are faced with the law in the international M&A risk,financial risk,integration risk and other contingent risk,etc.,to avoid not in time will affect the success of international M&A,therefore,effective control of risk is the enterprise "asymmetric" international M&A successful guarantee mechanism;Different payment using inappropriate,affects the process of M&A,and even cause the failure of M&A,therefore,reasonable choice of payment is the enterprise "sexy" key to the success of international M&A.Secondly,we compare and analysis the existing ways of international M&A,and at the same time,combing theories with Metairie M&A BBHI case in order to conduct a comparative study;finally,we use the case study method to further study how Meta could achieve "asymmetric" successfully while reduce the risk.We conclude that the above links will be applied on the whole process of "asymmetric" international M&A of the enterprise.The enterprise should pay great attention to the reasonable organization structure before the M&A,and set up M&A process in combination with the current situation of the enterprise before M&A.In addition,this article also focuses on the other factors in the process of Metairie "asymmetric" international M&A.