Study On The Motivation And Experience Of Overseas M&A Of Chinese State-owned Enterprise

With constant promotion of globalization,more and more Chinese enterprises are exploring overseas markets through overseas M&A(Mergers and Acquisitions).As an important force to carry out the "go out" strategy,the pace of overseas M&A of Chinese state-owned enterprise has also accelerated,overseas M&A of state-owned enterprises have become the norm.State-owned enterprises "go out" through overseas M&A,to explore international markets,to maintain and increase the value of state-owned assets,to realize development by strides,further to enhance the international competitiveness of state-owned enterprises.However,overseas M&A is a highly risky,systematic and professional complex activity,it has never been easy for enterprises to complete overseas M&A.Based on the above background,the author analyzes and studies the motivation and experience of Chinese state-owned enterprises' overseas M&A by introducing related theories of overseas M&A and analyzing the history and current situation of Chinese state-owned enterprises' overseas M&A.Through case study,the author studies the overseas M&A case of China Minmetals Corporation,which is the largest overseas M&A in the history of China metal mining industry to date--the overseas M&A of LasBambas copper mine project in Peru by China Minmetals Corporation.Through the research,the author summarizes the motivation and experience of Chinese state-owned enterprises' overseas M&A.It is believed that overseas M&A lies in obtaining strategic resources and high-quality assets,exploring overseas markets and gaining advanced technology and management experience and so on.And the successful overseas M&A experiences of state-owned enterprises mainly includes: conducting due diligence before carrying out overseas M&A;improving the capability of the enterprise;overseas M&A should be oriented by enterprise development strategy;attaching great importance to the integration after M&A,especially the cultural integration and so on.Through study,the author provides the successful experience of overseas M&A to the enterprises as the main body of overseas M&A,and at the same time,the author puts forward some suggestions to the Chinese government to improve China's overseas M&A policy system,It is expected to provide useful experience for Chinese state-owned enterprises and all enterprises to carry out overseas M&A successfully.