The Analysis Of M&A Financial Synergy Effect

With the coming of economic globalization,Global mergers and acquisitions intensified,however,quite a number of M&A ended in failure.Through research,the lack of effective integration measures is the key factor to the M&A failure.Merger agreement is only the beginning of the M&A,how to implement the integration after M&A to achieve the synergy effect is the top priority.Financial integration is the key of the post merger integration,which has a direct and far-reaching influence on the development of the enterprise group.How to allocate financial resources,avoid financial risks,adjust the financial system,to improve the ability of financial management and give full play to the financial synergy is the main problem of financial integration.2008 Huarun group effectively merged san-jiu medicine through the way of debt restructuring,including strategy,organization structure,financial activities and financial resources,made san-jiu and Huarun match each other.As a successful M&A case in the pharmaceutical industry,the resecrch of this case provides referential experience for enterprise mergers and acquisitions in the future.First of all,this article elaborated the research background and significance,and reviews the domestic and international scholars related research on mergers and acquisitions and financial synergies.then,it introduces the related concepts and theories of financial synergies,describes the necessity of financial integration in the merger integration,and how to maximize the financial value of a company merger,then coupled with CRC san-jiu M&A case,analyzes the pharmaceutical industry environment,national policy and causes of merger and acquisition of Harun group of M&A san-jiu pharmaceutical,and then analyses the implementing path of financial synergies and evaluate the effect of its implementation.In terms of financial synergies,it probes into the organization integration,financial activities coordination,evaluation system of the group of integrated three paths of financial synergy effect,and evaluates four aspects of financial synergies,including the ability of working capital management,capital structure,over-the-counter medicines market share and stock expected effect.The studies have shown that these four aspects of CRC were obviously enhanced,effectively implement the financial synergies,which played a crucial role in the development of financial integration for mergers and acquisitions after new san-jiu,consolidation also achieved good results,effects of integration after the merger integration began to reflect,and further enhancing the competitiveness of the CRC.Finally,this article summarizes attentions and experience of financial integration in the Harun group mergers san-jiu medicine through Harun group merged san-jiu pharmaceutical financial integration,financial synergy realization and analysis of the evaluation results.Financial integration is not a single chain in the process of integration,it plays an essential role,so as to the content of the relevant financial integration,we must insist on the principles of integration and analysis of final effect requires strict regulation and control.Enterprises should pay more attention and make more investment of financial integration,the examination before the financial integration,financial integration of control and financial integration after the feedback adjustment,ensure the financial success of integration work.Financial integration has become an important issue in current enterprise after M&A expansion,its importance to the development of the enterprise strategy is self-evident,especially in the current Chinese market,merger and acquisition phenomenon abound,promoting financial integration after the merger,realize the goal of financial integration,reduce the risk of integration,improve operational efficiency of the financial system is of great significance.