Research On The Motivations And Performance Of M&A Of Asset-Light Enterprises

With the rapid development of China's economy,mergers and acquisitions in all walks of life occur frequently,especially in the public relations industry,which mainly focuses on light assets.The fierce competition of many small and medium-sized public relations enterprises has seriously affected each other's development.The internal growth of enterprises alone isn't able to meet their development needs.Therefore,some powerful public relations enterprises begin to use the extension expansion of merger and acquisition integration to enhance their own strength.Through the case study of mergers and acquisitions of this type of enterprises,we can help more light assets enterprises fully realize the limitations of their industry in the process of mergers and acquisitions,and ensure that their mergers and acquisitions are taken place on the basis of careful demonstration.This paper takes Blue Focus merger SNK as an example to analyze the merger motivation and operating performance of light asset enterprises.This paper first describes the basic situation of M&A parties and the characteristics of the industry,and then tracks the entire merger process and the signing of betting agreements.Then,using SWOT analysis method and the basic theory of M&A,this paper investigates the motivation of Blue Focus's merger from two aspects of enterprise development strategy and market potential.At the same time,using event study method and financial method to analyze the long-term and short-term performance of the merger,trying to learn useful experience.The case analysis shows that the Blue Focus after the merger of SNK,its long-term performance and short-term market performance performance is good.The result is beneficial to the future development.At the end of the paper,the Enlightenment on merger behavior of light assets enterprises is obtained according to the actual merger situation of Blue Focus.