Horizontal M&A Integration Strategy And Performance Analysis Of Resources-oriented Enterprise

China's economic development has entered a new normal situationsince the 13 th Five-Year Plan for its Economic and Social Development.Steady progress has been made in structural reforms on the supply side,the excess capacity has been steadily resolved,the implementation of the "three eliminations,one reduction and one supplement" and the promotion and optimization of the industrial structure have become the industry consensus.For resource-oriented enterprises,the problems of structural overcapacity and industry disorderly competition are more prominent.This article mainly USES the case analysis,by choosing typical resource-based enterprises merger and acquisition case: Baililian's acquisition of Longmang Titanium Industry,after completion of mergers and acquisitions become a domestic leading enterprise with absolute advantages in terms of scale,technology,and export level.M&a to conduct an empirical analysis based on the resource-based enterprises,focusing on the merger integration strategy,focus on mergers and acquisitions both sides background,way of mergers and acquisitions and mergers and acquisitions performance,from human resources integration,culture integration,market integration,technology integration and integration of management and so on all aspects of in-depth analysis,explain enterprises are faced with the problem in the process of integration and the company on problem by integration strategy,to provide practical path resource-based enterprises horizontal merger integration strategies.This paper evaluates the integration effect from the business situation before and after integration and the comparative analysis of financial indicators,and summarizes the impact of the integration strategy of horizontal mergers and acquisitions on the performance of enterprises.Studies found that Baililian's acquisition of Longmang Titanium industry for usd coupon of synergies compensates for lack of the original enterprise market share,the production of small faults,through integration of mergers and acquisitions,corporate reached the following results: first,integrating resource advantages and reducing costs;second,integrating research and development resources to improve product technology upgrades and competition;the third is to integrate market share and improve market voice and pricing power;in the end,M & A effect of 1 + 1> 2 can be obtained,and the performance of M & A can be improved.In the process of horizontal mergers and acquisitions,after the M & A,the integration between the two companies is of great importance for the outcome of M&A.