Research On Financial Risk Of Midea M&A KUKA

In recent years,the US group has been promoting transformation and upgrading,expanding the field of technology products on the basis of air conditioning,kitchen electricity,washing machines and other traditional superior products,and has injected new vitality into the development of enterprises.With the completion of the acquisition of German Kuka by the American Group,the development of the global technology transformation of the American Group has entered a new stage.China's household appliances industry has achieved leapfrog development in the tide of globalization.It has great influence and appeal in the global market.Under the stimulation of consumption upgrading,traditional household appliances enterprises accelerate cross-border mergers and acquisitions in order to add new internal driving force for the development of enterprises.In recent years,the leading enterprises in the home appliance industry such as the group and the US group have carried out cross-border mergers and acquisitions across the globe,providing new ideas for improving the level of manufacturing development in China and promoting the supply side reform of the manufacturing industry.At present,our country is in a critical period of transformation and upgrading of economic mode.It is imperative for enterprises to transform and upgrade.More and more enterprises begin to take advantage of policies to speed up the adjustment and optimization of industrial structure,and explore new paths for the future development of enterprises.In the process of adjusting the economic development model of domestic enterprises,many enterprises choose merger and acquisition as an important way to achieve strategic development goals.However,it is undeniable that in the process of M&A activities,financial risks run through all aspects of M&A activities.How to identify financial risks and how to effectively avoid M&A risks has become a frontier topic of academic and practical research.Merger and acquisition is a common business operation mode in modern market.It can not only improve the efficiency of resource allocation,but also enhance the comprehensive competitiveness of enterprises in order to obtain absolute competitive advantage in the target market.At the same time,enterprises can acquire core technology in a short time through mergers and acquisitions,and achieve the goal of expanding the market while promoting industrial transformation and upgrading.Therefore,whether it is the overall requirement of national economic development or the requirement of enterprises to build their own competitive advantage in the target market,cross-border M&A is a feasible method and path.Cross-border mergers and acquisitions usually involve multiple subjects,while the mergers and acquisitionees are located in different countries,there are huge differences in political,economic,environmental and other aspects,which to some extent enhance the complexity of cross-border mergers and acquisitions.Midea Group is the leading enterprise in the field of household appliances in China,and it is representative of the acquisition case of Kuka in Germany.Therefore,this paper chooses Mei Group as the research object,through the analysis of the financial analysis in the process of acquisition of Kuka by Mei Group,to provide theoretical suggestions for the transformation of mergers and acquisitions of related enterprises.Firstly,this paper defines the concept of transnational mergers and acquisitions,collects and collates relevant theories by consulting literature,and comprehensively analyses the financial risks in enterprise mergers and acquisitions from four risk types: pricing,financing,payment and integration.Secondly,based on the relevant theories,combined with the case of Mitsubishi Group's M&A of Kuka,this paper comprehensively analyses the financial risks in the whole process of M&A,and provides theoretical suggestions for M&A enterprises to prevent and avoid financial risks.Thirdly,this paper takes Z-value model as the starting point,comprehensively evaluates the financial risk of every link in the process of enterprise merger and acquisition,and summarizes the risk assessment methods and risk prevention measures adopted by American Group in the case of Kuka merger and acquisition.At the same time,on the basis of the study of the case of Kuka acquisition,this paper finds and identifies the problems of risk prevention in the case of Kuka acquisition,aiming at providing theoretical reference for the cross-border mergers and acquisitions of Chinese enterprises.