| With the rise of the wave of economic globalization in the early 21 st century,the spring breeze of China’s reform and opening up has also blown across the land of China,and more and more companies have decided to "go out" to develop new international markets for cross-border mergers and acquisitions.In 2016,Midea responded to the call and announced its acquisition plan for KUKA,which was successfully completed.Nowadays,"One Belt One Road","Made in China 2025" and other related activities are booming.If Chinese companies conduct cross-border mergers and acquisitions,what should they pay attention to? The thesis combines the case of Midea’s merger and acquisition of KUKA,hoping to give some experience to companies that are conducting cross-border mergers and acquisitions.Cross-border mergers and acquisitions refer to the general term of cross-border mergers and cross-border acquisitions.In order to achieve a certain goal,an enterprise in one country can acquire an enterprise in another country through certain channels and payment methods.The thesis selects Midea’s M&A KUKA practical case and related motivation theory and performance theory for combined analysis.The article first introduces the purpose and significance of this research,and then combs the literature.In the theoretical part,I consulted relevant domestic and foreign papers for review and summary,introduced what is a merger and acquisition,the motivation theory of mergers and acquisitions,selected basic theories for performance,and constructed the framework of performance evaluation later.Secondly,the paper introduces the specific situation of Midea’s M&A of KUKA’s practical case,including the introduction of the two companies and the merger process,and then analyzes the motivation of Midea’s merger of KUKA and the performance analysis of Midea’s merger of KUKA from 2014 to 2019.Finally,the paper expounds some experience and enlightenment of Midea’s merger and acquisition of KUKA for reference by other companies. |
