Research On Cross - Border M & A

During recent years, cross-border M & A has gradually become a major form of China enterprises to enter the international market. With the accelerated process of economic globalization, the strength of China enterprise’s economic and the expanding of enterprise scale, more and more China enterprises began to participate in the international market competition, and regard the transnational M & A as an important means of business expansion in the international market.Transnational M & A can help the enterprise to achieve the rapid expansion and development of transnational, and it can help China enterprises into some markets which have more restrictions on China enterprises in the international market. Although the motives of cross-border M & A of each enterprise are different, but the target enterprise transnational M & A can use the advantage of M & A in some aspects, it can effectively explore foreign markets, while reducing the cost and risk of the enterprise to develop new markets.This paper is based on the theory of international direct investment, transnational merger and acquisition theory and related research results to analysis related cases of TCL transnational merger and acquisition. On this basis, to TCL Thomson M & A case as the research object, analysis TCL multinational M & A process, performance and failure causes, and put forward to enhancing the core competitiveness and integration ability of the enterprise and so on, hoping to provide some reference for Chinese enterprise after M & A.