| Appliance industry is closely related to daily life.It is undeniable that the appliance industry has made remarkable contributions to the economic development of China.However,all of the intensified competition,declining performance and mature industry urge appliance industry to start diversification strategy.The appliance industry has seen 10 failed mergers in the past decade,three of them is aimed at auto sector.Gree Electric Appliances had planned to transform to new energy business in 2016,but ended by the rejection of minority shareholders to the fund raising plan.This failure had a lot of impact on the overall strategic plan of Gree Electric Appliances.Gree Electric Appliances has always been optimistic about the new energy industry,and it launched its cross-border strategy again in 2021,expecting to gain real dividends in the industry.Gree Electric Appliances carried out a re-merger for the same new energy enterprise after five years.The reasons and its subsequent development are worth exploring,so I have strong curiosity about this case.I decided to choose Gree Electric Appliances’ re-merger strategy as the topic to analyze the motivation and influencing factors.This research has practical significance and reference value for enterprises implementing diversification strategy.This thesis adopts case analysis method.Based on the analysis result of the appliance industry,I select Gree Electric Appliances’ merger and acquisition of Zhuhai Yinlong as topic,use the method of strategic analysis to explore the motivation.The case selected is rare because it provides vertical comparison between two mergers and acquisitions of the same target enterprise by the same company,which provides richer content.This thesis considers that the motivation of Gree Electric Appliances’ re-acquisition of new energy vehicle enterprises can be divided into three aspects: policy motivation,industry motivation and enterprise motivation.The motivation for this case is not only to form synergistic effect from three levels,but also to improve Gree Electric Appliances’ stock price and produce good operating results in the future.In addition,the personal motivation of the management,the prospect of technological development and the undervalued acquiree are also important driving factors.Based on the analysis,some enlightenment and proposal have been given. |
