Research On The Motivation And Performance Of Wanda Group's Merger And Acquisition Of American AMC

In recent years,the development of cultural industry has made great progress.At the same time,it has promoted the development of social and economic.In addition,the government has formulated some laws to protect the development of cultural enterprises.Therefore,overseas mergers and acquisitions of cultural industries are not only the market demand but also the active support of the state.Wanda Group,as one of the top 500 enterprises in China,has established a cinema line company in 2005,which laid a foundation for the development and transformation of the cultural industry.In addition,in 2012,it completed the cross-border merger and acquisition of AMC cinemas in the United States.Therefore,this paper has important practical significance and research value for the research of Wanda Group's M&A of AMC.Firstly,this paper introduces the research background and significance of the paper,and summarizes the related theories of M&A.Secondly,the process and motivation of Wanda's merger and acquisition of AMC Cinema are analyzed.The main motivation of the acquisition is to improve financial performance,diversify the strategic transformation needs,internationalize the development goals,and import licensing strategic needs.After that,the financial performance of this M&A is analyzed and summarized,mainly analyzing the profitability,solvency,operation ability and growth ability before and after M&A.Usingfinancial index analysis method and principal component analysis method,the conclusion is drawn that this M&A can promote the profitability,operation ability and growth ability of Wanda Courtyard Line,but we should pay attention to improving the use efficiency of its funds.We can not ignore the decline of growth rate of main business after 2015.And subsequent mergers and acquisitions restrict the financial performance of the early stage,we should pay attention to the stability of financial performance.The impact on solvency is relatively small,reflecting that M&A has a higher demand on the ability of enterprises.Through the study of its non-financial performance,it is concluded that M&A has a positive impact on the synergy effect,but the risk of industrial transformation can not be ignored in the process of enterprise operation.Finally,some countermeasures and suggestions are put forward to Wanda Group and cultural industry.