Research On Cross-border Mergers And Acquisitions In The Home Appliance Industry From The Perspective Of Strategic Transformation

At present,my country’s economic development has entered a new historical period.The downward pressure on the economy has increased,the price level has risen,the domestic demand has been sluggish,and the gap between the rich and the poor has widened.The state has proposed a supply-side reform policy centered on "destocking and deleveraging",and traditional industrial industries have begun to reform.At the same time,with the rise of the Internet wave,new consumption patterns have also quietly emerged,and a large number of new industries have emerged.In such changes,all walks of life are beginning to seek industrial transformation and upgrading.In China,scholars started late in the study of mergers and acquisitions,and most of them conducted macro-research through empirical methods,and there were few micro-case studies.Cross-border mergers and acquisitions are more complicated in design than ordinary mergers and acquisitions,and the influencing factors are more diverse.However,in recent years,they have become more and more common.They have gradually become one of the most important means for traditional listed companies in China to seek strategic transformation.Whether the reorganization of assets for integrated operations can significantly improve the economic benefits of the enterprise,and how the synergy effect after mergers and acquisitions is manifested,has been a difficult and important point since ancient times.In response to the above problems,this article analyzes a typical case of China’s leading small household appliance company Joyoung Co.,Ltd.in its cross-border merger and acquisition of American cleaner home leader Shark Ninja.Starting from the background and motivations of the merger and acquisition,the article established a method of evaluation which use brand integration as the basis and synergy as the core.Then we analyze the performance after mergers and acquisitions,hoping to provide possible suggestions and reflections for similar enterprises in the resource integration and brand strategy transformation after mergers and acquisitions.This article mainly conducts research from the following three parts:The first part is introduction.It elaborates on the research background,the purpose and significance of the research,the research methods and the innovative points of the research.The second part is literature review and the theoretical basis and analysis.This part summarizes the researches of domestic and foreign scholars on overseas M&A,M&A motivation,M&A performance,etc.At the same time,it clarifies the concepts of crossborder mergers and acquisitions and strategic transformation perspectives,and expounds the theoretical basis of the analysis of Joyoung’s acquisition of Shark Ninja in this article.The third part is case analysis and post-merger synergy analysis.First,it briefly elaborates the background of the parties involved in the merger.Secondly,it analyzes the reasons for the cross-border M&A of Joyoung from the external and internal dimensions.Thirdly,from the perspective of brand integration,the article establishes a performance evaluation method through 3 dimensions of product power,channel power and strategy culture power.Also,the post-merger financial analysis of Joyoung has been integrated into the research of different dimensions.