Midea's Acquisition Of The Performance Analysis Of The German KUKA Group

Since the continuous development and growth of m&a in China in the 1980 s,its m&a scale has presented a series of characteristics,such as wide scope,large amount and transnational.As the "going global" strategy of Chinese enterprises is flourishing all over the world,cross-border m&a of Chinese enterprises has become an effective way to seek overseas high-quality resources and technologies.Beauty as China’s leading consumer electronics manufacturing enterprise,its business activities throughout the world,mainly engaged in home appliances manufacturing and sales business,through its own development and m&a behavior became covers a variety of comprehensive of the listed company of the business,and after each m&a market rapidly occupation.As a typical case of transnational merger and acquisition of overseas high-end brands,this paper studies the case of American merger and acquisition of German Kuka group,and evaluates the m&a process and the performance after the merger.It is of practical significance to accelerate the future development of the United States,optimize the technical level and improve the profitability of enterprises.This paper first analyzes the motivation theory of transnational m&a,the integration theory of transnational m&a and the performance analysis under different methods,which lays a theoretical foundation for the following case analysis.Secondly,the process of m&a is analyzed in detail,including environment analysis,motivation analysis,rationality analysis of consideration,and integration analysis after m&a.Combine theory with practice to study the effect of the merger on the performance of the group.Through the establishment of financial indicators and nonfinancial indicators of performance evaluation system to analyze the performance of the m&a of appraisal,financial indicators including assets and liabilities structure analysis before and after mergers and acquisitions,the influence of the transaction on the goodwill,income,and debt paying ability,operation ability analysis,profitability and growth ability analysis.The event research method based on stock price change is introduced to analyze stock market reaction,and the industry concentration index is introduced to evaluate market occupancy.Non-financial indicators include risk analysis after merger,advantages and disadvantages brought by merger on the development of the group,synergistic effect caused by merger and the prospect of the future operation of the group of America.Finally,according to the merger process and performance analysis results above,this paper puts forward some Suggestions for the future merger and integration of Midea group and the overseas m&a of China’s household appliance industry.For example,investment in research and development should be increased,governance level should be improved,management mode should be improved,overseas markets should be laid out,appropriate m&a methods should be selected,and appropriate m&a targets should be selected.In the end,the relevant research conclusions and deficiencies are drawn.