Performance Study Of Midea Group's Cross-border M&A KUKA Group

In recent years,with the deepening of economic globalization,Chinese enterprises have successively carried out industrial upgrading and strategic adjustment,and actively seek to change "Made in China" into "Created in China",while turning their strategic vision to the world.With cross-border mergers and acquisitions to obtain overseas high-quality resources and technology,they set off a new wave of overseas mergers and acquisitions in China.However,although the number and amount of cross-border mergers and acquisitions have shown a trend of increasing year by year,after the merger and acquisition,the successful achievement of the expected goals and the improvement of the company's performance are few and far between.After the cross-border acquisition of KUKA Group,Midea Group not only acquired advanced technology and innovation capabilities which improved competency of products,but also took the lead in the market which is emerging artificial intelligence industry and gained positive performance growth.Why the Midea Group can successfully achieve the expected goals and improve its performance after the merger,and what influence factors play a role in it?This is the main purpose of this paper.In addition,as a typical case of Chinese companies' cross-border M&A foreign high-quality enterprises,the researching will not only accelerate the future development of Midea Group,but also provide a reference model for other companies to conduct cross-border M&A.Ultimately,it has a very important practical significance to improve the international competitiveness of Chinese enterprises.This paper mainly uses the research method of case analysis,selects the case of Midea Group's cross-border M&A KUKA Group as the research object,taking the motives and the key points of M&A project as a foundation.Then,the paper focuses on the performance changes after M&A and the influencing factors of the changes,in order to provide suggestions for the development of the Midea Group and references for the cross-border M&A of other companies in China.This paper first collects relevant literatures and theories about cross-border M&A motivation,performance evaluation and performance influencing factors,in order to lay a theoretical foundation for the following case studies.Secondly,it introduces the basic information about the merger,including the companies profile and the detailed process of the M&A.Then,it analyzes the M&A motives of Midea Group,and believes that the motivations for choosing KUKA Group as M&A targets include strategic synergy,revenue growth,industry fit,production improvement and technology complementarity.Thirdly,this paper analyzes the M&A plan of Midea Group from four aspects:M&A consideration,payment method,financing channel and M&A commitment.After that,this paper uses the financial indicator method and the theory of balanced scorecard to analyze the performance level of this merger from the two levels of financial performance and non-financial performance,and study its influencing factors.This paper believes that Midea Group has benefited a lot from this merger and acquisition,and has taken a solid step on the road of transformation and upgrading of the Group.It is inseparable from the economic and technological environment at that time,the unique advantages of Midea Group and KUKA Group,and the implementation behavior of M&A.Finally,this paper summarizes the successful experience of this merger,recommendations and inspiration to Midea Group and other Chinese enterprises' cross-border mergers and acquisitions...