Research On Strategic M&A From The Perspective Of Synergy Effect

Based on the current background of global M&A and the trend of cross-border strategic M&A in China,This paper takes the first cross-board strategic M&A(the acquisition of F&G ’Company)case of China Communication Construction Group as an example.Therefore,based on the theory of cross-border M&A,synergy effect and effective integration,this paper mainly analyzes how enterprises acquire synergy effects through effective integration after M&A,and how synergy effects affect and create new values.It clarifies the thinking thread of "effective integration-acquisition of synergy effects-new value created-Strategic M&A target".At the same time,based on the analysis of the value creation mechanism of synergy effects,this paper constructs a three-layers analysis model of synergy effects from the angel of competitive advantages,human resources and culture.Then analyzes the case from the ways it conducts effective integration and synergy values.Finally,it offers some reference experiences for Chinese enterprises in cross-border M&A.The innovation of this article lies in:(1)Different from the previous researches,it will focus on the M&A field of central enterprises implementing cross-border strategic mergers and acquisitions;(2)Reorganizing the mechanism and mechanism of synergy;(3)Constructing "three layers synergy analytic model."The conclusions of this paper are as follows:(1)Effective integration,synergy,and value added have mutually influential logical relationships.The relevant analytical framework used in the paper can be applied to M&A integration research and practice;(2)Provides a new perspective on effective integration.It is considered that the effective integration of the whole process of mergers and acquisitions is not only a measure after mergers and acquisitions,it is also a means of prior guidance and control in the matter.(3)The ability to effectively integrate after mergers and acquisitions is itself a core competency.