Study On The Synergistic Effect Of Mergers And Acquisition Of Listed Sporting Goods Companies

Merger and acquisition activities are an important means for companies to improve their performance.Through the implementation of mergers and acquisitions,companies can highly concentrate their advantageous resources and capital,accumulating strength for new development goals.With the continuous acceleration of China’s market economy development and the continuous progress of world economic integration,many domestic companies have begun to consider and actively adopt mergers and acquisitions,and the sports goods industry is no exception.The synergy effect of mergers and acquisitions is a measure of whether a company’s performance after implementing the merger is greater than the sum of their respective performance before the merger.It is an important standard for measuring whether a company’s merger and acquisition activities have achieved the expected results,and is also a key factor in determining the success of the merger and acquisition.Therefore,in the increasingly competitive market environment,how to integrate the resources of both parties after the completion of the merger and acquisition to generate better synergy is one of the key issues that sports goods companies focus on.Based on this,this article takes the case of Anta Sports acquiring Amer Sports as an example to study the synergistic effects of mergers and acquisitions of sports goods listed companies.Specifically,on the basis of elaborating the research background and significance,literature review,research methods and content,the article first defines the relevant concepts of the synergy effect of mergers and acquisitions,and points out that the synergy effect of mergers and acquisitions can be evaluated using the event study,financial indicator analysis method and non-financial indicator analysis method.Secondly,based on the background of the sports goods industry and the company profiles of both parties involved in the merger and acquisition,it is believed that the main motivation for the merger and acquisition is to comprehensively upgrade multi-brand strategies,strengthen alliances,and enhance brand texture.The merger and acquisition cases are sorted out from three aspects: the merger background,the merger plan and pricing principles,and the merger and acquisition process.Thirdly,it evaluates the synergy evaluation of Anta Sports M&A of Amer Sports based on three synergy evaluation methods.Among them,the synergy evaluation of the event study comprehensively evaluates the expected return rate and cumulative excess return rate before and after the M&A by clarifying the data source,defining the event period,and building a market model;The evaluation of financial indicator synergy mainly involves three aspects: operational synergy,management synergy,and financial synergy;The evaluation of non-financial indicator synergy mainly focuses on three aspects: brand strategy,research and development status,and marketing status after the merger and acquisition.Finally,research conclusions are drawn and suggestions are put forward: corporate mergers and acquisitions need to focus on operational synergies,pay attention to post merger integration,improve channel management,flexibly choose financing methods,and gain insight into market patterns and consumer needs.Starting from a listed sports goods company,this article takes Anta Sports’ acquisition of Amer Sports as an example to evaluate the synergistic effects it has generated,which can greatly enrich domestic research on mergers and acquisitions.At the same time,it hopes to provide useful reference and reference for similar mergers and acquisitions of other companies in China’s sports goods industry.