A Case Study Of M&a In The E-commerce Logistics Industry

In recent years,there has been many listing events happened in the Ecommerce logistics industry.More and more companies are running its own logistics company.Under this background,this research compared the relationship between online E-commerce and offline logistics,trying to explore the future of E-commerce logistics industry.This research took the M&A of Suning and Tiantian express as a study case,as well used the stock return of Suning to do the Event Study as the empirical part,trying to explain the company strategy,M&A performance and pricing in the case.This research mainly provides reference opinions and suggestions for potential companies with similar M&A needs,the CEO of the Suning and the stock market investors.The main conclusions drawn from the research include:(1)M&A conforms to the company's strategic objectives from three aspects: external competition,self-endowment cooperation and third-party cooperation;(2)Comprehensive valuation of M&A transactions is made by using various valuation methods,says that the transaction is fair;(3)From the perspective of post-effect of M&A,empirical analysis of event study method shows that investors are optimistic.After the merger and acquisition,the revenue growth rate and inventory turnover rate of Suning improved significantly.The new assets from Tiantian express also made the construction of Suning Logistics take a new step.