The Application And Impacts Of "Listed Companies + PE" Buyout Funds In Cross-border M&A

On the basis of the objective trend of world economic integration and China's strong support for the "go global" strategy,listed enterprises in China have a broader strategic vision.Cross-border mergers and acquisitions have become an important measure of enterprise strategic development.With the development and the maturity of China's financial industry,many top private-equity firms have accumulated rich theoretical knowledge and practical experience in many successful cases,which contributes to the improvement of capital operation and management capabilities.The new merger and acquisition model emerges,in which listed companies and private-equity firms cooperate and set up merger and acquisition funds.Absolutely,"Listed Companies+PE" Buyout Funds is the most promising and innovative model in the domestic market.In view of the Rapid financing and high leverage,this model is favored by many listed companies.In view of the Rapid financing and high leverage,this model is favored by many listed companies.Listed companies and PE institutions jointly set up the "Listed Companies+PE" Buyout Funds,which displays the industrial advantages of listed companies and the financial capital advantages of private equity institutions.It also solves many problems in the process of cross-border merger and acquisition.Xiwang Food Co.,Ltd,a domestic listed company,acquired Canadian company—Kerr with the "Listed Companies+PE" Buyout Funds method,which is taken as a example in this paper to discuss its effect.First,this paper discusses the background and research methods of the "Listed Companies+PE" Buyout Funds.Second,the theoretical basis and existing literature research related to this topic are sorted out.In the mechanism part,the thesis expounds the motivation and effect of the establishment of m&a fund in the cross-border merger and acquisition.Third,it not only introduces the specific design of "Listed Companies+PE" Buyout Funds establishment and operation scheme in the case,but also analyzes the effect of Xiwang Qingdao buyout fund in application in accordance with reality.Therefore,this paper provides a basis for standardizing the development of "Listed Companies+PE" Buyout Funds in China's market,and for maturing its application in the cross-border merger and acquisition of listed companies.At the same time,this paper is also combined with the case to discuss the need to improve the current “listed companies +PE”buyout funds in the application.