| In today’s world,with the rapid development of science and technology,various countries and regions are increasingly connected.At the beginning of the 21 st century,China joined the World Trade Organization.The economic ties between China and other countries have become closer,and the development of private enterprises has gradually matured.The domestic market has been unable to meet the capital and technology required by enterprises,so companies have turned their attention to overseas markets.Under such a trend and environment,in 2018,Geely announced to acquire a 9.69% stake in Daimler for US$9 billion,setting a record for the largest overseas M&A case in the Chinese auto industry and arousing worldwide attention and discussion.By studying the performance of Geely’s acquisition of Daimler,this thesis provides a reference for Chinese enterprises’ future overseas mergers and acquisitions.In the process of studying Geely’s acquisition of Daimler,this thesis combines the actual situation in the process of mergers and acquisitions with domestic and foreign environments,taking the synergy effect as the starting point,the operation synergy effect,management synergy effect and financial synergy effect will be judged,so as to analyze the performance.At the same time,this thesis will also analyze the process and characteristics of mergers and acquisitions,in order to have a deeper understanding of mergers and acquisitions.After in-depth research and analysis,we found that Geely’s acquisition of Daimler was mainly to acquire Daimler’s technology.In addition,as a well-known old auto company in the world,Daimler’s voice in the European market is unquestionable.It is also beneficial for Geely to better enter the European market,thus laying the foundation for Geely’s overseas development.Through research,it is found that after Geely acquired Daimler,although the company’s profitability has declined from a financial point of view,its solvency,operation ability and growth ability have been improved to varying degrees;from a non-financial point of view,After the merger,the company’s export sales volume and market share increase,brand synergy is enhanced,and core competitiveness is improved.In view of my country’s special national conditions,private enterprises have a short history of development,and there is very little experience that enterprises can learn from overseas mergers and acquisitions.Therefore,analyzing Geely’s acquisition of Daimler can help us understand the overseas mergers and acquisitions of enterprises from various aspects,which will help our country.It will also help Chinese enterprises to develop overseas markets and participate in global competition.At the same time,some adverse effects caused by Geely’s merger with Daimler,such as the merger and acquisition may bring political and legal risks,financial risks and exchange rate risks to the company,and the company’s debt will rise sharply in the short term after the merger.Issues to consider when making mergers and acquisitions.The emergence of these risks and problems can reduce the detours of Chinese enterprises in the process of overseas mergers and acquisitions in the future,and is conducive to helping the acquirer and the acquiree to achieve a win-win situation. |
