Case Study Of Haier's Merger And Acquisition Of GEA's Financial Risk

With the continuous development of economy and the deepening of globalization,more and more enterprises realize the regional expansion from local to global through m&a and reorganization.Under the influence of market globalization and information globalization,many enterprises choose m&a to develop themselves.The reason why enterprises choose merger and acquisition is to adjust the industrial structure of enterprises as a whole,which can not only optimize the industrial development structure of enterprises in the best and fastest way,but also enable enterprises to achieve efficient and rapid development to some extent.From the perspective of the practice and characteristics of cross-border m&a of enterprises,enterprises are often faced with relatively large risks in the actual operation of m&a,among which financial risks are one of the main risks to be faced by enterprises.Therefore,it is of great practical significance to make reasonable and effective analysis of the relevant financial risks in the process of transnational mergers and acquisitions,and to control and avoid the risks to a certain extent.This paper selected the case for GEA business,Qingdao Haier m&a will exist in the process of its actual m&a financial risk as the research object,from the acquisition process of the merger and acquisition of early,middle and late three link analysis,thinks the financial risk of the enterprise m&a mainly exist the following four aspects:valuation risk,financing risk and payment risk and integration risk.Based on the previous theoretical basis and the practical experience of transnational mergers and acquisitions,this paper is divided into five parts to analyze the financial risks of the acquisition of GEA by Haier of Qingdao.The first part is the introduction,which introduces the research background,purpose and significance of this paper,and reviews related literature.The second part is the related theory of financial risk of mergers and acquisitions,which defines the relevant concepts and theories involved in the case analysis of this paper,and lays the theoretical foundation and foundation for the specific analysis in the following part.The third part is the case description,which introduces the process and motivation of Qingdao Haier's acquisition of GEA.The fourth part is the case analysis,which identifies the financial risks involved in the acquisition of GEA by Qingdao Haier from the four aspects of valuation risk,financing risk,payment risk and integration risk,and conducts risk comprehensive evaluation based on Z value model.Fifth part is the experience summary,through the above risk identification and correlation analysis,summed up the GEA in the process of Qingdao Haier in m&a financial risk prevention aspects of deficiencies,and put forward the concrete Suggestions of strengthening the m&a financial risk prevention to other enterprises in the transnational merger and acquisition can refer to its experience,so as to improve the success rate of transnational mergers and acquisitions.