Analysis Of Merger Synergies Of M&A In China's Auto Industry

M & A business in today's world is developing rapidly, seen from the whole world, the earliest M&A events in the U.S. has been a century of history. M & A business is essentially an implementation of corporate strategy and a redistribution of social resources. Compared to the foreign countries which have experienced the five waves of M&A, M & A activity in China from 1993 Shenbao An's acquisition of Yanzhong Industry has just only more than ten years.M & A 'important role in the implementation of the strategy for the enterprise promoting the structural adjustment of resources across the world have been fully recognized.。For China, carefully analyzed and summarized the background, causes, processes and the effect of domestic and international M & A events, which has a strong effect of enlightenment and reference further improving chinese enterprises management.With the growing M & A of domestic industry, there has not only precedent case of success, but also some failures.There are many factors influencing the consequence of domestic M & A, among these factors,the lack of synergies is an important reason for the failure of mergers and acquisitions. Take Chinese auto industry as an example,chinese automobile is in the process of structural adjustment in recent years, and it's develops rapidly,but there is a big gap which compared to foreign mature market operation mode.In this process,M & A as integration of the automotive industry resources that improve management efficiency, which has been recognized by more and more enterprises.Capital and Technology are highly concentrated in the automotive industry.To be sure,automotive resources integration by means of M & A will be the main theme of Chinese automobile industry in future time.In 2007,ShangHai Automobile's acquisition of NanJin Automobile Group is a case of M& A among different areas, and is also the largest M& A case in China's auto industries,which attracts so much concern in the industry.This article, based on this case, analyes the synergy of M& A, and analyes the case combining the theoretical mechanism of synergy.In this paper, refer to the theoretical work at home and abroad in relation to synergies theory, on this basis, though the use of quantitative and qualitative research methods related cases, the further gentle conclusion.The first part of the structure of this thesis is an introduction, presenting the background, purpose and significance The second part is theory, firstiy introduced the domestic and international M & A theory, on this basis, the second describes the synergistic effect of mergers and acquisitions at home and abroad with various theories.The third part introduces and analyzes the status of China's auto industry and the automotive industry in China M & A synergies.The fourth part introduces the of SAIC Auto Group M & A case of Nanjing Automobile Group,it respectively introduces the basic situation of the two companies.Then analyzes the M & A synergies of the case. The fifth part is a summary of the case and conclusion of the whole paper.