The Application Of Cross Border Exchange In Cross-border M & A

In the third Plenary Session of the 18 th CPC Central Committee,the party put forward that we must persist in promoting the mixed ownership economy,and let more state-owned economies integrate with other ownership economies to promote the mixed ownership economy.The national "13th Five-Year" plan also stressed that to stably promote the mixed ownership economy,and promote the reform of the state-owned capital into non state-owned enterprises,support the development of mixed ownership enterprises of non-public capital holding.A series of favorable policies and policies provide strong institutional guarantee and power for the state-owned enterprises to introduce private capital and participate in the reform of mixed ownership system.Mixed ownership can enhance the competitiveness of state-owned enterprises and make the non-public sectors of the economy complement the public sector of the economy.From the perspective of existing mixed transformation,cross-border M&A is an important way to achieve the mixed ownership economy.At the same time,the "going out" strategy proposed by our government provides a good macro environment for cross-border mergers and acquisitions of state-owned enterprises.From the existing theoretical analysis,the research of cross-border mergers and acquisitions by experts and scholars at home and abroad is fruitful.Cross-border M&A have become an important way for state-owned enterprises to continue to expand their scale and improve their international competitiveness.However,in such a strong support,the state-owned listed companies in cross-border mergers and acquisitions take payment method is relatively simple,the main use of the entire cash acquisitions and mergers and acquisitions fund set up in two ways,existing funding pressure,funds abroad pressure,mergers and acquisitions fund shares locked in a series of problems such as long period,the existence of these problems is one of the cross-border mergers and acquisitions because of the high failure rate of.Therefore,it is urgent to explore how to use the cross border exchange method to successfully resolve the dilemma.This paper firstly introduces the basic concept and theoretical basis of the case and analyzes the steps to summarize cross-border M&A.The application,advantages and disadvantages and application scope of this method are briefly introduced.Then on the basis of the background of the case,cross-border exchange motivation of M&A and cross-border exchange process,the rationality of the design are summarized,and finally completed M&A analysis,put forward experience is worthy of reference for other enterprises.The difficulties of the cross-border M&A and the window is to use the private sation and cross-border exchange synchronous propulsion of the enterprise,acquisitions valuation is not high,design the reasonable in price and share proportion,the advantages of using parallel examination and approval system.Eventually made A summary on the research of the thesis,and on how to better use the cross-border exchange some simple Suggestions,for the a-share listed companies on cross-border M&A payment method provides A new direction.