Research On Keda's M&A Motivation And Performance

Nowadays,the development of the Internet industry is in full swing.It is precisely because of this that major traditional enterprises have adopted the merger and acquisition method to cross the border into the Internet industry in order to expand capital,control resources and seek transformation.In the context of China's economy shifting from a high-speed growth stage to a high-quality development stage,the combination of traditional enterprises and Internet companies can not only bring new vitality and vitality to traditional enterprises,but also contribute to the expansion and development of Internet companies.At present,the case of traditional enterprises cross-border mergers and acquisitions of Internet companies is not uncommon in China's capital market.Cross-border mergers and acquisitions have become a fast-track for traditional enterprises to cross industry barriers and seek their own development.With this development trend,cross-industry mergers and acquisitions in the future will continue to be one of the important means to optimize China's capital market.However,companies that implement cross-border M&A Internet companies may not necessarily achieve the desired goal of improving performance,and may also have a negative impact on the company.This paper studies the M&A performance of cross-border M&A companies in traditional enterprises,analyzes the trend of corporate performance after M&A activities,and draws research implications based on the analysis results,which will provide valuable reference for traditional enterprises that intend to adopt similar M&A activities.Therefore,this paper takes the relevant theory of M&A as the research basis,selects the typical case of the traditional construction enterprise M&A Internet company,and conducts an in-depth analysis of the M&A performance.This paper selects Keda shares to acquire five Internet companies,such as Baifusi,as the research object of this case,and uses case study method and qualitative and quantitative research methods to conduct in-depth analysis.Based on the introduction of the parties and their industry background and M&A characteristics,the M&A motivations are analyzed from the strategic level,market value level,operation level and development level of M&A enterprises.Then,based on the previous scholars' research,different M&A performance evaluation methods are selected to analyze the M&A performance of Keda shares from three aspects: market performance generated by mergers and acquisitions,changes in financial performance after mergers and acquisitions,and non-financial performance generated by mergers and acquisitions.Through analysis,the cross-border mergers and acquisitions of the case enterprises were generally successful.Finally,the case is revealed,I hope that the acquisition of Kodak shares will provide some useful suggestions to other traditional enterprises.