| The world economy shows the trend of globalization,the market competition is more and more intense,the enterprise has chosen to expand abroad,the overseas M&A is the first choice of the enterprise.Viewing from statistics on the number of Chinese enterprises overseas M&A violent growth,the highest amount is constantly refreshed.Under the good development trend,the data also implied concern about risk.In China,total outbound deals in January and February 2016 amounted to 515 billion RMB,well above the total for all of 2015.But,according to the relevant institutions research statistics of Chinese enterprises overseas M&A case reports,in 2007 to 2013,only 7% of the overseas M&A cases can be considered to be a success,the other 93% of mergers and acquisitions cases,consolidation problem has become the main difficulties,such as technical personnel,management integration,culture integration,etc.In this case,localization is a key factor in the success of M&A.In recent years,the industries of "Going out" enterprises had been from the traditional energy turned into manufacturing,consumer goods,TMT.The diversity of the target type also let China integration after enterprise M&A more difficult.More than half of Chinese companies prefer to take controlling stakes in the companies they choose to acquire.Seeking control of M&A cases,how to blend in the foreign operation and management,and how the foreign management teams to be favorable have become the key factor.At present,in our country many enterprises have begun to implement overseas M&A strategy,but the theoretical results and practical experience in overseas M&A is less,enterprise in M&A process often encounter some risks and difficulties,even lead to M&A failure at last.This article through to the Haier group overseas M&A Sanyo white goods business the case research,exploration,the author analyzes the reasons of Haier group overseas M&A mainly has the following several aspects: overseas M&A can increase the Haier group brand influence,absorb the Sanyo industry chain and promote research and development ability,Haier for target enterprise namely Sanyo electric marketing network,expand the Haier group in Asia market,realize scale management and increase market competitiveness,promote Haier globalization strategy transformation.Overseas mergers and acquisitions become an effective way to improve the enterprise assets,more enterprises seek for overseas development,the enterprise after M&A impact of these effects need further exploration.This paper analyzes the financial indicators of Haier group's annual report from 2010 to 2015.After 2011,the company's profitability,solvency,and growing ability are on the rise.In the short term,the company's shares rose in the month after the announcement,in October 2011.In the long term market,the overall share price of its shares rose significantly from October 2011 to October 2015.The market is positive for Haier's overseas acquisitions.Finally,this paper summarizes the conclusion of the following aspects: the overseas mergers and acquisitions both sides for a long time to get to know each other for the transaction basis,the overseas mergers and acquisitions to absorb overseas talents,save training costs and to obtain advanced technology resources,the overseas mergers and acquisitions to strengthen the Asian market,Haier people single win-win combination mode improves the Haier's performance,overseas M&A is compatible with the both sides of the concept of culture and business philosophy.Then it is concluded that the Haier group's overseas M&A case studies several Suggestions: clear purpose acquisition is the first step to overseas mergers and acquisitions,horizontal M&A not only produce synergies and improve the overall competitive ability of enterprises,enterprises should actively prevent and reduce the overseas M&A financial risk,and strong ability of main business is to ensure that overseas M&A performance,the basis of cultural integration after M&A is a key part of the integration of the work. |
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