Research On Strategy Integration Of Merger & Acquisition

With the increasing market competition, the M&A of enterprises is an important way to achieve the rapid expansion and the development in jumps. Since the end of the 19th century, the world has undergone five mass waves of corporate mergers and acquisitions. Since China's reform and opening up, because of the rapid growth of macroeconomic, experienced two major waves of mergers and acquisitions, it has entered the third round of mergers and acquisitions wave.With the change of world economic structure and intensified international competition, M&A activity between enterprises is increasingly frequent and the scale is growing. But compared with the increasing M&A amount and huge number M&A cases, the success rate is not high. Studies show that the defeat and not any effect accounts for 42-46%. Many domestic and foreign scholars have made much survey and research, generally believe that the lack of effective integration measures is the key factor leading to the M&A failure in M&A process. Strategy integration is the forerunner of other elements integration, throughout the entire M&A process, involving all corporate strategic levels, if strategy of both M&A enterprises were not meet each other, and developing new strategy on the basis of cooperation, then it is very difficult to play synergy. Therefore, the research of the M&A Strategy integration was of great theoretical and practical significance.This paper begins from the Strategy Integration theory, summary the domestic and international research results on the theory and practice, then based on the strategy integration level, introduces strategy integration content and model selection. Second, elaborates the strategy integration process, takes project management into the process, constructs the integration management office and introduces integration manager. Finally, adopt a typical case to specific analysis the actual operation of the strategy integration. This paper researches on strategy integration of M&A, attempts to provide theoretical and practical reference for enterprises M&A acts.