Research On The Financing Methods Of Apex's Merger And Acquisition Of Lexmark International

With the continuous deepening of my country's corporate reforms,M&A activities between Chinese and overseas companies are booming.At present,my country is actively pursuing a national development strategy,which has created favorable conditions for Chinese enterprises to invest abroad,hastened the process of internationalization of Chinese enterprises,and has had a positive impact on cross-border mergers and acquisitions of Chinese enterprises.Under such a large environment,Chinese enterprises should seize this good opportunity,accelerate their own development,actively invest in overseas markets,and implement cross-border mergers and acquisitions.The main purpose of this article is to deeply study the financing methods adopted by Apex in the process of merger and acquisition of Lexmark International,and to analyze the successful experience of Apex mergers and acquisitions of Lexmark and the innovative financing methods used in mergers and acquisitions to provide cross-border mergers and acquisitions for Chinese enterprises.For reference,at the same time provide experience for Chinese enterprises in the selection of M&A financing methods,thereby improving the success rate of Chinese companies' cross-border M&A.There are three research methods used in this article,which are the literature research method,case analysis method and mathematical statistics method.These methods are used to deeply study Apex's financing methods.The successful experience and problems in the selection and application of Parker's M&A financing methods help Chinese companies to better select and design financing methods in cross-border M&A.The thesis first explains the background and significance of the research,establishes a systematic introduction to the research of domestic and foreign scholars,and explains the research methods and general content of the article.Secondly,it sorts out related concepts such as cross-border M&A,M&A financing and M&A financing methods,and introduces related theories of M&A financing.Subsequently,the development status of my country's cross-border mergers and acquisitions,the main financing methods of cross-border mergers and acquisitions by Chinese enterprises and the existing general problems are introduced through graphs and statistical data.Then,from the aspects of Apex's merger and acquisition of Lexmark International's merger and acquisition background,the basic introduction of the parties to the merger and acquisition,the motivation of the merger and the merger process,the whole merger and acquisition case is fully introduced.Then combined with MM theory,trade-off theory and financing priority order theory to study the financing methods,financing schemes,financing structure,influencing factors of financing methods,risks brought by financing methods,advantages and problems of financing methods of Apex M&A,Focusing on the analysis of the financing method of this cross-border M&A.Finally,through detailed research and analysis of Apex's merger and acquisition of Lexmark's international financing methods,it provides some enlightenments and suggestions for Chinese companies to implement cross-border M&A financing,and helps Chinese companies to rationally choose financing methods to achieve successful cross-border M&A.This article takes the typical "snake swallow elephant" cross-border M&A case of Apex M&A Lexmark International as the research object.It aims at the financing methods of Apex M&A Lexmark International,from the way of M&A financing,the structure of M&A financing,and the impact of M&A.In-depth analysis was made on factors such as the choice of financing methods,risks caused by financing methods,and the advantages and disadvantages of financing methods.The results of the study show that Apex uses a variety of financing models in this merger and acquisitions,which perfectly integrates a variety of financing methods such as corporate self-owned funds,syndicated loans,shareholder loans,controlling shareholder issuance of private exchangeable bonds,and joint private equity funds.Flexibility use of leverage financing to complete this “snake swallow elephant” type of cross-border mergers and acquisitions.Judging from the analysis results,although Apex's financing methods are effective,there are still some problems.The integrated management after delivery and the huge debt pressure may affect the subsequent development of Apex.According to the results of Apex's merger and acquisition of American Lexmark financing methods,conclusions and enlightenment are obtained.When Chinese companies conduct cross-border merger and acquisition financing,they should make full use of the advantages of China's internal capital market to expand financing channels,comprehensively consider various factors and choose rational financing methods.New types of financing methods will be used in the region,and diversified combined financing methods will be adopted for M&A financing.