Research On The Serial Overseas M&as Integration And Performance From The Perspective Of Resource-focused Action

In September 2020,China proposedthe goal of achieving "Peak Carbon" by 2030 and "Carbon Neutrality" by 2060,it would be important milestones in China’s low-carbon development,this also makes it clear that China will continue to choose a green development,low-carbon development path.The new energy represented by lithium battery has become the development trend,and the market demand has gradually increased;a series of favorable policies have issued to promote the development of lithium electric industry,under the dual effect,more and more competitors and capital poured into the market.By December’s end,China’s lithium-ion 2021 industry had experienced an unprecedented surge of investment events,with investing a total of 927.6 billion yuan,an increase of over 300% from the47.7 billion yuan in 2018.This compound growth rate of 110% makes lithium industry facing unprecedented chances and Challenges.Becouse of the scarcity of lithium resources,leading enterprises such as ALB in the United States,SQM in Chile,Tianqi lithium in China and Ganfeng lithium in China have acquired upstream resources through M&As to improve their market competitiveness,achieve the enterprise strategic objectives.M&A based on corporate strategy usually has the characteristics of continuity and multi-time,so lithium industry enterprises often carry out serial M&As rather than single M&A.And because 85% of the global lithium resources are distributed overseas,in order to seize high-quality lithium resources,domestic lithium industry enterprises often cross-border mergers and acquisitions to obtain lithium resources.Serial Cross-border M&As are a serial and dynamic process,however,the existing research on M&As focuses on the analysis of independent M&A events,ignoring the impact of serial M&As,lack of serial cross-border M&As integration and performance evaluation of research.As an illustration,Ganfeng lithium,a Chinese private enterprise in the lithium sector,is used in this article to explore the correlation between M&A motivation,resource action,and serial M&As,and to carry out the course of cross-border M&As from 2011 to 2021.From the viewpoint of resource action theory,this paper examines the integration strategy and content of the Ganfeng lithium industry’s serial cross-border M&As,utilizing financial indicators to evaluate the performance results.Finally,it summarizes and validates the performance of the serial M&As integration and M&As,and proffers some recommendations for the future.Through the theoretical research in the field of M&As,it provides Available referenced experience for the practice of M&A integration and performance evaluation,which has certain theoretical and practical significance.