Research On The Synergy Effect Of The "Listed Company + PE" M&A Model

The gradual development of China's economy has led to increasingly fierce market competition.In order to enhance its own competitiveness,more and more companies are willing to quickly improve their strength through mergers and acquisitions,and achieve the goal of saving the country by the curve.Unfortunately,the failure rate of mergers and acquisitions remains high,the main reason is that the two companies do not pay enough attention to the integration of resources after mergers and acquisitions,which will make it difficult to achieve the synergy effect of mergers or acquisitions.At the same time,unreasonable M&A payment methods have also become one of the reasons for M&A failure.Based on this,on the basis of domestic and foreign research results on M&A synergies,this article uses Apex M&A Lexmark International as a research case to test the existence of post-M&A synergies and determine whether it is in the industry's M&A Representative.This article analyzes the case of Apex M&A Lexmark International.First,the basis of case selection,the profile of both parties to the merger and acquisition,the review of the merger process and the purpose of the merger were studied,and it was found that Apex's merger and acquisition objectives mainly have the following three points: National policies support domestic enterprises to "go global";share technical resources and integrate supply chain,reduce costs;improve the layout of the entire industry chain of the printing industry and achieve global strategic transformation.Secondly,after analyzing the synergies after the merger and acquisition,it was found that after Apex merged with Lexmark International,its market share,technical level,asset management efficiency,product and personnel integration,tax saving effect and market status,etc.within two years after the merger and acquisition it showed a positive synergistic effect;while profitability,cost control level,and solvency showed negative synergistic effects,but the trend of negative synergistic effects is weakening.Therefore,with the improvement of the enterprise's resource integration ability after mergers and acquisitions,it can be predicted that in the next few years,the impact of corporate synergy on the enterprise will generally be positive and gradually increase.Finally,on the basis of the research results,combined with the actual situation of the enterprise,put forward practical suggestions: first,we must pay attention to the development direction of the merger and acquisition market;second,we must correctly assess the strength of the companies on both sides of the merger;third,wemust choose a reasonable way to pay for the merger;fourth,we must strengthen the integration of enterprise resources and give play to synergies.