Analysis Of Serial M&As Performance Of Blue Focus

With the rapid development and improvement of China’s capital market, the quantity and amount for domestic m&a market reached new highs, all kinds of enterprises participate in the merger and acquisition activitivies with high enthusiasm, m&a draw the attention and favor of many enterprises for its prominent role in promoting enterprise development. In such a situation, the m&as of listed companies in China are beginning to appear many new features, one of the most obvious phenomenon is that part of the listed companies launch a significantly increased in frequency of m&as, and presents a certain continuity, BlueFocus is a typical representative of this kind of company. The serial m&as phenomenon is a new trend of the current market environment, which can’t just be explained simply with traditional m&a theory. Therefore, in order to be able to some cognition of this new phenomenon,this article will analyse the motivation, performance and risk of BlueFocus serial m&as in the form of case study.This article is divided into four chapters, the first chapter is the introduction part, this chapter of this article introduce the background, purpose, significance of this research, and the literature review etc. The second chapter is the theoretical basis, which mainly expounds concept definition related to the serial m&as, the purpose of the company’s serial m&as, the main factors affecting the performance of serial m&as and the risk of serial m&as. The third chapter is the specific study course of the case. After the case of BlueFocus is introduced in detail, this chapter respectively studies the BlueFocus serial m&as in the motivation, performance, risk. Tobin Q value method and accounting method were applied to study the company’s market performance and financial performance. The fourth chapter mainly concludes the research conclusions and case enlightenment, and also points out that the lack of research in this paper.This article’s conclusion is that BlueFocus serial m&as own three aspects of motivation which includes the management of the subjective motivation, enhance competitive advantage and growth pressure; The company’s market performance declines after periodic rise, the process of financial performance shows that the company’s growth ability is outstanding, but most ability of the other aspects performance varying degrees of decline; In terms of risk, the main risk to the BlueFocus contain financial and control right risk, goodwill impairment risk, management risk and human resource risk. Through analyzing the case of BlueFocus, the enlightenment is that the company can take advantage of the serial m&as for leap development, but m&a should be beneficial to promote competition ability as the standard. In addition, enterprises must pay attention to the integration and risk management after m&as.