Case Study On Financial Risk Control Of Sany Heavy Industry M&A Of Putzmeister

In recent years,Chinese manufacturing enterprises are actively engaged in cross-border M&A.In 2016,manufacturing has become the no.1 industry for overseas M&A of Chinese enterprises.However,in the process of transnational M&A,Chinese manufacturing enterprises are faced with political,legal,cultural,financial and other risks significantly higher than domestic M&A due to the existence of national differences,among which financial risks,as a comprehensive reflection of all kinds of risks in value,have a significant impact.Taking the acquisition of Putzmeister by Sany Heavy Industry as a typical case,the application of qualitative and quantitative methods to study its financial risk control has great practical significance for Chinese manufacturing enterprises to conduct transnational M&A.Domestic and foreign studies on the financial risks of Chinese manufacturing enterprises transnational M&A are relatively weak,especially those on the basis of typical cases of Chinese manufacturing enterprises’ transnational M&A.The research focuses on the following aspects.Firstly,theories related to transnational M&A.Second,financial risk related theories of transnational M&A.Third,Sany Heavy Industry M&A of Putzmeister financial risk identification and evaluation.Fourth,Sany Heavy Industry M&A Puzmeister of all kinds of financial risk control measures.Fifth,inspiration and reference.Through Sany Heavy Industry M&A Puzmeister case study,draw the following conclusion: Access to advanced technology,international markets and synergies are Sany Heavy Industry main M&A motivations.the integrated use of Z value model and the relevant financial indexes of Sany Heavy Industry M&A Puzmeister financial risk assessment found that sany upon completion of the overall financial risk significantly increased after the merger,the profit ability,operation ability and development ability are also presented obvious downward trend;Sany Heavy Industry’s financial risk control measures are instructive.When carrying out transnational M&A activities,Chinese manufacturing enterprises can focus on reducing information asymmetry to reduce valuation and pricing risks,selecting reasonable financing ways and channels to reduce the financing risk,comprehensive financial and competitive situation to reduce the payment risk,financial integration work in stages in order to reduce the risk of financial integration,hire a professional consultant team can be considered to reduce the financial risk.