Comparative Research On The Cross-border M&A Of Lenovo And TCL

As the development of the integration with the global economy, Mergers and Acquisitions are becoming a prominent strategy used by major corporations. Even smaller and more focused firms began employing acquisitionstrategies to grow and to enter new markets. A few excellent Chinese enterprises merged and purchased more and more foreign coporations. They hope to forging ahead toward world-level enterprise in integrating resource, acquisition development chance, participating in international competition on the whole world platform through Cross-border M&A. In manufacturing industry, Lenovo and TCL are the most typical. They have all chosen the internationalization development strategy, all with the concrete act Cross-border M&A as internationalization strategy. And their objects are all the famous international enterprise being much powerfuler than them. Therefore, this two enterprises'Cross-border M&A being brought to all-direction the comparative research has deep practical significance.Firstly, this paper defines the concepts of M&A, state the process of M&A and expatiate the theory about inducement and venture. Secondly, this paper introduces something about the M&A case of Lenovo and TCL. Thirdly, this paper does the multiple echelons comparative research in the background, object, risk, process, integrate measures and achievements in Cross-border M&A of Lenovo and TCL. Lastly, this paper sum up the success and failure, gain and loss in Cross-border M&A. Owing to this, the chapter put forward some suggestions about Cross-border M&A of Chinese enterprise. Chapter six is the conclusion.The main goal of this paper is to sum up the advantages and disadvantages, right and error, success and failure, gain and loss in Cross-border M&A, through the multiple echelons comparative research in the M&A case of Lenovo and TCL. Owing to this, this article put forward some suggestions about Cross-border M&A of Chinese enterprise, that may provide a reference, enlightenment and warning to the follow-up Chinese enterprise and is helpful to making policy accurately, improving the strategy management level and increasing the success rate in Cross-border M&A. The contrast about details and data, the quantitative and detailed analysis included some private views is the characteristic of the paper.