Research On The Motivation And Effects Of Transnational Mergers Acquisitions By Chinese Companies

After our country jointed WTO in 2001,enterprises of our country integrate with international.It is becomes normal that enterprises use cross-border mergers and acquisitions to realize expansion of scale.Thus,it is has important meaning to guide reality by researching cross-border mergers and acquisitions effect of enterprises in our country.According to research of the thesis,it will offer certain suggestion of previous preparation and integration in late period for others enterprises before cross-border mergers and acquisitions,and provide thinking and measures of development in late period for Shuanghui International.This paper first introduces the background and significance of the study,the framework and content are briefly described,and related to the international merger & acquisition of transnational mergers and acquisitions and the effect of literature are summarized.Then it introduces the concept and types of cross-border mergers and acquisitions,the theoretical basis of transnational mergers and acquisitions.Then the two sides of the enterprise mergers and acquisitions events for the cross-border mergers and acquisitions,and events are reviewed,and analyzed the reason of Smith Field according to the Shuanghui mergers and acquisitions of transnational mergers and acquisitions.In the fourth part of the article,we analyze the leverage effect,the stock price expectation effect,the capital cost effect,the tax effect,the scale economies effect and the intangible asset synergy effect.Through the analysis we can get the following conclusions:first,Shuanghui international through the acquisition of improved product structure,get the perfect pork upstream industry make up the chain,Shuanghui international has been in the pig breeding of the short board,and improve the quality of raw materials,the raw material quality is controllable;second,by Shuanghui international borrowing and purchase not only make acquisitions smoothly,also guarantees that the Shuanghui international can have sufficient cash flow With the development of enterprises,through financial leverage effect,can achieve a small broad.Third,in the process of integration,culture will have a big influence,do a good job in the post merger cultural integration is a very important thing.After the merger,Shuanghui international integration range is very small,but is such a simple cultural integration is Shuanghui International Has brought forward the cultural synergy effect.Finally,from the point of the thesis,international mergers and acquisitions of Shuanghui to Smithfield Food INC realized positive mergers and acquisitions effect basically accordingto conclusion of this thesis.It also provides suggestion to enterprises in our country for cross-border mergers and acquisitions according experience of this case: making preparation fully before mergers and acquisitions and preparing consideration and countermeasures for various status;selecting suitable object of mergers and acquisitions to improve key competitiveness of enterprises;arranging capital of mergers and acquisitions well to ensure smooth process of cross-border mergers and acquisitions;to carry out effective follow-up integration,and lay a good foundation for the sustainable development of enterprises.