A Research On The Value Creation Of Alibaba's Merger And Acquisition Of Intime Business In The New Retail Era

Since Jack Ma proposed the concept of “new retail” at the Alibaba Yunqi Conference in October 2016,traditional retail and Internet retailing have been in the opposite direction for several years,but they have all entered the bottleneck period and cannot continue to develop.At this time,a new retail model-new retail-was developed.In this context,the analysis and research of the concept of “new retail”,and further explore the traditional retail industry of Internet retail mergers and acquisitions,create a “new retail” layout and its value creation,and have obvious reality for understanding and grasping the future retail model.In the past,M&A research mainly focused on the motivation of M&A,performance analysis or the influencing factors of M&A,which is relatively limited.Related research has less analysis of the value creation path of the entire M&A,and it is rare to combine the value creation research of the current Internet retail M&A traditional retail industry.In this paper,the idea of value creation runs through the whole article.Through reading a large number of domestic and foreign literature research on merger value creation and previous academic papers on mergers and acquisitions,after clarifying the relevant theoretical framework,it combines Alibaba's acquisition of Intime commercial.Case,analyzing the motives of M&A and the impact on the value of M&A in the three processes of pre-merger preparation,M&A transaction and post-merger integration.Through the analysis of the entire M&A process,the value creation of Alibaba's M&A Intime business is derived.In the realization of the synergy effect,and qualitative analysis of Alibaba's effect from the four aspects of operational synergy,management synergy,financial synergy and intangible assets synergy,and confirmed that the acquisition created value for Alibaba.Finally,through the above analysis,the inductive summarization method is used to summarize the value creation path of M&A,and try to create a M&A value path analysis framework.