Analysis Of Key Factors For Chinese Corporations' Overseas Takeovers

After entry WTO, more and more Chinese enterprises are seeking overseas development in order to access to natural resources, markets and the acquisition of strategic assets (including technology and brand names). M & A is the main development strategy and form of Chinese superior enterprises' foreign direct investment. However, M & A is very complex economic activity and has comprehensive relevance legal issue. Most M & A of Chinese enterprises results in suffocation and makes a significant degree of economic waste, because of not fully grasp the rules of M & A and not know how to fulfill the program of the enterprise integration at the organizational structure level, which indicates that in the M & A activities the Chinese enterprises is still lacking in experience and an in-depth understanding of the policy.In this dissertation, the author try to analyze the motivation of Chinese enterprises'M & A, and try to point out the main misunderstandings in the process of M & A on the basis of the general theory of M & A and the increasing competition at home and abroad, then draw the conclusion that the program of M & A should be integrated with the whole development strategies of the enterprises, and should focus on the integration after the M & A, based on the analysis of the respective reasons of successes and failures of the cases of CNOOC's purchase of Unocal, TCL acquired Thomson TV business, Lenovo's purchase of IBM's global PC business. Try to provide some reference and experience to the M & A of Chinese enterprises.