Lenovo Group Acquiring IBM's PCD

Along with the global economic integration, more and more enterprises are seeking the way of sustainable development worldwide. As a means of direct investment in foreign countries, cross-border merger and acquisition has become an important means for transnational enterprises to realize their global strategy. However, cross-border mergers and acquisitions bring lots of challenges as well as opportunities.This paper focuses on the Lenovo Group acquiring IBM PC Division, fully analyses its merger process and post-merger integration. The study of the success and failure of Lenovo's practices is meaningful for other Chinese enterprises who are in the process to go aboard.This paper is divided into 5 parts:Introduction: The introduction of the background of the topic selection, the purpose of this paper, adopted research methods and main creative point.Chapter1: The theory analysis of enterprises M&A. In this chapter, the author sums up the theories of the definition, the types and the motivations of M&A, the performance evaluation research of M&A and gives brief picture of the waves of enterprises M&A both east and west.Chapter2: The background analysis of Lenovo's acquisition. This chapter mainly focuses on the process of the acquisition through the introduction of the two parts, the explanation of their motivations to reach the agreement, the contents of the agreement, the capital resources and the viewpoints from the capital markets.Chapter3: The post-merger integration analysis of Lenovo's acquisition. This chapter makes a statistic compare of operation achievements before and after acquisition by quantitative analysis and qualitative analysis. The author evaluates this acquisition from different roles who involve in this acquisition. Chapter4: The enlightenments of Lenovo's acquision. The author sums up the current situation and characterisitcs of the Chinese enterprises cross-board acquisition. Furthermore, the author concludes the challenges and how to conquer these challeges in the process of cross-board acquisition through the above analysis of Lenovo's acquisition.