A Study On The Promotion Mechanism In Lenovo’s M&A Performance: Under The Perspective Of Synergistic Effect

While global financial crisis brings new opportunities to Chinese enterprises to "Go-Abroad", the acquisition oversea has just taken off. Chinese enterprises generally are lack of experiences in the operation of oversea marketing, merging and risk preventing, so only a few successful examples are available for reference:Lenovo’s acquisition of IBM PCD is a classical one. In view of this event, this article tends to discuss the relationship between synergy and transnational M&A performance, and explore the mechanism of action between synergy and transnational M&A performance, so as to promote the integration of transnational smoothly.The synergistic effect is the resources sharing and complementary advantages after the merger of two enterprises:the whole value is greater than the sum value of the parts. In order to enhance the persuasive power, I take the method of theory analyses with examples and combine qualitative and quantitative analysis to deal with various aspects of synergistic effect, including the coordination in operation, management, asset and culture. Based on the conclusion in the corresponding policies and suggestions, using the statistical software SPSS17.0respectively in the existence environment and the external environment without regard to the effect of exterior environment, this article carries out a regression analysis of the relationship between the four criterion layers of synergy effect and the performance of transnational M&A.This paper argues that (1) there is a positive correlation between the synergistic effect and the performance of cross-border mergers and acquisitions;(2) the cultural synergy and operating synergy with positive influence on the performance of transnational M&A;(3) the management synergy and asset synergy the case of IBM PCD have no significant influence on the performance of cross-border mergers and acquisitions;(4) there is no significant correlation between the external environment and the performance of transnational merger.Based on the case study of Lenovo’s experiences of the business and cultural integration, this article suggests that those Chinese enterprises, which intend to initiate transnational M&A, should learn from Lenovo’s lesson, that is, to focus on the integration of the business cultures and the collaborating realization. The external environmental factors can only be used as a secondary consideration.