Study On Merger Integration

In the new round of state-owned enterprise reform,mergers and acquisitions will become an important way of diversification of equity.And the success of M&A mostly depends on the merger integration.Thus the study of merger integration becomes very necessary and important.This thesis discusses the merger integration on the basis of the study of M&A cases and the merger integration implemented by YS company.At first,based on current research of merger integration and the studies of the M&A cases,this thesis suggests that the merger integration should be categorized as system integration(the base of merger integration),resource integration(the form of merger integration)and culture melting(the core of merger integration)by the natural process and contents of merger integration,and the merger integration should be launched step by step.In the meantime,the external environments and the enterprise control forces will impact on the merger integration more or less.Furthermore,this thesis suggests that the merger integration should be viewed from systematic perspectives based on the studies of the M&A cases especially implemented by YS Company.Firstly,the consciousness of integration risk should be introduced into the periods of preparation and business negotiation.To determine the purpose and target company of M&A by scientific decision-making,to play a rigid focus on the purpose of M&A when negotiating,and to adequately estimate the risk of integration and make the integration plan ahead.Then,according to the actual outside environments and inner situations of the combined enterprises,the system integration,resource integration and culture melting should be emphasized and chosen depending on the purpose of M&A.By all accounts,only through the systematic and effective system integration,resource integration and culture melting with a rigid focus on the purpose of M&A,the M&A could be to succeed finally.