| Transnational Merger and Acquisition(M&A),as a business behavior,has been the new model adopted by Chinese resource enterprises going abroad.In order to enlarge the market share,strengthen the core competitiveness,obtain overseas quality asset,and to allocate the global resource,these companies enhance engaging in the overseas capital market to carry out the M&A.While the fact is that not all the M&A can reach the expected effect,besides,the companies encounter new economic situation and features,the failure of M&A comes at times.There is study show that the success of M&A is subject to M&A integration.Thus the study of M&A will match the requirement of the companies and have very important realistic meaning.This paper,based on the study by experts in china and around the world,it introduces and summarize the concept of the M&A,and based on the characteristic of our resources company,it especially analyse the Motivation theory and the Integrity theory,then introduces the risk,principal,content and model of the M&A.The paper mainly introduces the strategic integration,business and technology integration,finance integration,human resource integration and the cultural integration.The paper,through the summarization of the Chinese resource company's history and characteristic in Transnational Merger and Acquisition,and it analyzed the risks that encounted during combination and the four models adopted,and the existing problems and challenges on the M&A integration as well.Then,the paper introduce the cases of CNOOC Acquisition of Canada Nexen,combine the above theory and base on the actual situation,it analyses the Motivation,risk,integration procedure and effect,and it points out the Insufficient and lessons of the integration.And lastly,the paper made conclusion both in motivation and combination of our resources company's M&A,and base the above cases and in responding to the new economic situation that faced,the paper made specific suggestions both in the government and company aspects. |
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