Research On Motivation And Performance Evaluation Of Bluesail Cross-border Mergers And Acquisitions Biosenors International

With the advancement of world integration,the wave of M＆A is surging again in the world,and Chinese enterprises are facing the excellent opportunity to become world-class enterprises through M＆A.At the same time,with our country market economy developing,medical equipment manufacturers have been gradually in the gold development period,and the saturated low-value consumables in the market in China,more and more enterprises focus on high-value consumables market through M＆A to achieve a leapfrog development,then reveal the prelude medical equipment market of M＆A integration.Therefore,as an effective means to help enterprises quickly enter overseas markets,improve international visibility and achieve capital expansion,cross-border M＆A is gradually becoming an upsurge.However,the transformation of cross-border M＆A is not easy,so it is necessary to study the performance of enterprises before and after cross-border M＆A based on M＆A theory and using financial and non-financial indicators.In this thesis,we take the cross-border merger and acquisition of Biosenors International by Bluesail as the research object,and study its performance analysis in different dimensions by applying the event study method and so on,and summarize the case insights and suggestions accordingly.Firstly,this paper reviews the literature on motivation and performance analysis of cross-border M＆A,defines the concepts of cross-border M＆A,and expounds the theories used in the subsequent analysis.Secondly,this paper introduces the background of the M＆A,and summarizes the motivation of the M＆A by describing the basic profiles of both parties and the M＆A process.Furthermore,this paper focuses on the performance of the M＆A and analyzes the impact of the M＆A on the performance of Bluesail in four aspects: market performance,financial performance,comprehensive performance and non-financial performance.Eventually,this paper summarizes the enlightenment of the case and points out the problems worth paying attention to.Relying on its unique vision and A series of ingenious merger and acquisition layout,Bluesail medical successfully transformed into A high-value consumable medical device manufacturer with the mode of "A+X".Since the suspension of trading in Blue Sail Medical in July 2017,its controlling shareholder Blue Sail Investment has acquired 30.98% of the shares of Parson International through CBCH II,the parent company of Parson International’s overseas holdings.Secondly,Blue Fan Medical purchased 62.61% of CBCH II equity held by it from 17 trading partners including Blue Fan Investment by paying cash and issuing shares,and then acquired 30.76% of CBCH II indirectly held by Beijing Citic by issuing shares.Finally,Bluesail medical holds 93.37% of parson international’s shares,completing the largest a-share medical device acquisition case.To sum up,this case mainly discusses how Bluesail Medical achieves strategic transformation through mergers and acquisitions under the current background of China’s medical device industry,aiming to put forward opinions on the merger and acquisition transformation of medical device manufacturing industry and provide reference for improving the success rate of merger and acquisition transformation of medical device enterprises.