Research On Performance Evaluation Of Ninestar Merger Lexmark

With the in-depth development of the market economy,cross-border M&A activities have increasingly become a means for enterprises to develop by leaps and bounds.With the continuous improvement of China's economic development level and total economic volume,the activities of domestic enterprises in cross-border mergers and acquisitions are also increasing.With the guidance and support of national policies for cross-border mergers and acquisitions,the pace of overseas expansion and mergers and acquisitions by Chinese companies is accelerating,and the amount of mergers Increase year by year.Therefore,in order to better conduct cross-border mergers and acquisitions,reduce the cost of cross-border mergers and acquisitions,and improve the efficiency of mergers and acquisitions,we need to use scientific and effective methods to evaluate the performance of corporate mergers and acquisitions,to judge the success of corporate mergers and acquisitions,which can also guide corporate mergers behavior.This case first sorts out the opinions of domestic and foreign experts on M&A drivers,M&A performance and M&A performance evaluation,then analyzes and summarizes the different opinions of domestic and foreign experts,and then compares different M&A performance evaluation methods.Secondly,select the case of Chinese company Ninestar's merger and acquisition of American company Lexmark in 2016 and briefly introduce the enterprise profile of Ninestar and Lexmark,expound the background of Ninestar merger and acquisition of Lexmark,and analyze The motivation and process of M&A Lexmark.After this,the short-term performance ofNinestar M&A Lexmark was evaluated through the event research method,and it was found that the market maintained an optimistic and positive attitude towards the Nashda cross-border M&A event.Build a long-term performance evaluation system based on EVA and adjust and calculate EVA according to the specific situation of Ninestar.Using EVA evaluation method and traditional financial analysis method to study the long-term performance of Ninestar M&A Lexmark,combined with non-financial performance analysis.Finally,based on the results of the study,we obtained the financial and non-financial aspects of Ninestar's merger and acquisition of Lexmark to enhance its value creation capabilities.According to the analysis process and research conclusions,suggestions were made from the aspects of M&A planning,M&A integration and talent reserve.This case analyzes Lexmark cross-border M&A by Ninestar in the form of "snake swallow",hoping to enrich China's cross-border M&A cases and provide references for Chinese companies M&A activities.