Synergistic Effect Analysis Of Baosteel And Wisco

In order to enhance the global competitiveness of large and medium-sized state-owned enterprises,the state-owned assets supervision and administration commission of the state council has been promoting the merger and reorganization of central enterprises since its establishment.Since the 18 th CPC national congress,China has completed 21 groups of 40 central enterprises restructuring.The reform of central enterprises has entered a new period.We are making steady progress in optimizing the distribution of the state economy and strengthening the state capital.The merger of central enterprises is mainly to bring into play the synergistic effect and realize the synergistic value.However,the central enterprise merger and reorganization is not really between market behavior,but dominated by national will,in order to promote the administrative behavior of merger and acquisition(m?a),usually a bellwether for restructuring of industry,the country to promote state-owned enterprise merger restructuring can produce synergies,achieve the goal of enterprise development.This paper takes the synergy effect of mergers and acquisitions of central enterprises as the research object,selects Baosteel and Wisco,the latest merger of central enterprises,as a specific case,analyzes the motivation and synergy effect of mergers and acquisitions of Baowu steel,and USES the cash flow model to calculate the synergy value of mergers and acquisitions.This paper introduces the main analysis angles and specific indicators of m?a synergies from three aspects,which constitutes a comprehensive and multidimensional evaluation index system of synergies.On this basis,analyze whether the synergistic effect is realized.Through the research,we can find that the main reasons for the merger and reorganization of central state-owned enterprises are as follows: at the national level,optimize the distribution of state-owned economy and the strategic positioning of supply-side structural reform;At the enterprise level,the realistic demand of achieving synergies and enhancing their own competitiveness.Enlightenment to the merger and reorganization of central state-owned enterprises: give full play to policy advantages and cultivate new impetus;To promote the coordinated development of industries,pay attention to the improvement of the integration effect,and strive to achieve synergies;Promote technology research and development and enhance core competitiveness.