Research On The Performance Of GM Company Cross-border M&A Based On EVA

In recent years,China's M&A and restructuring market has developed rapidly,and M&A has become an important means for enterprises to expand their market share and achieve profit growth.As a new type of mergers and acquisitions,cross-border M&A have become an important way for enterprises to seek strategic upgrading under the background of slowing domestic economic growth and fierce competition in related products.Listed companies in the traditional industry choose to enter new industries or stable growth industries through cross-border mergers and acquisitions,find new profit growth points,and save the trend of the main industry economic downturn.However,cross-border M&A in completely unrelated industries can really improve performance after mergers and acquisitions,and create wealth for shareholders,rather than simply bring about the expansion of capital scale.This issue is of great significance to the current M&A market.Based on the review of domestic and international cross-border M&A motivation,cross-border M&A performance research and M&A performance research methods,according to the relevant theories of M&A,selecting the case of cross-border mergers and acquisitions of pharmaceutical industry in the listed traditional machinery manufacturing industry.Introducing the basic situation of both companies,the motivation of mergers and acquisitions,and the M&A process.Using the more realistic EVA indicators,constructing the EVA M&A performance evaluation system,researching the performance after the completion of the merger,preliminarily judging whether the merger is successful,and analyzing the problems of the M&A enterprises.Then,proposing suggestions on how to improve corporate performance after mergers and acquisitions.Through analysis,the performance after the merger is not satisfactory,the core indicators of EVA show large fluctuations,the profitability and operational ability reflected by the value-driven indicators are weak,the capital utilization efficiency is not high.Revenue and profits cannot catch up with the speed of capital expansion,which has detracted from sharehold's wealth to a certain extent.This also reflects the difficulty in the integration of the two parties.However,its M&A performance has generally shown an upward trend,showing strong development potential.Based on the research results,suggestions on how to improve the M&A performance from four aspects:effective resource integration,emphasis on innovation and R&D,construction of long-term performance evaluation system,and strengthening of attention to non-financial information,in order to provide reference for enterprises that are also in the bottleneck of traditional industry development and want to seek breakthroughs through cross-border M&A.