| Automobile is one of the main fields of global greenhouse gas emissions.With the continuous increase of automobile ownership in China,vigorously developing new energy vehicles and controlling and reducing carbon emissions in the automobile industry are important measures to achieve carbon neutralization and carbon peak.Lithium battery is one of the core and key technologies in the development of new energy vehicles.It is an important strategic choice for domestic lithium battery enterprises to seize international lithium battery resources through ’snake swallowing elephant’ cross-border M&A.This paper takes Tianqi lithium’s acquisition of SQM as the research object.On the basis of summarizing the research status and relevant theories,it analyzes the motivation,process and previous financial risks of Tianqi lithium’s acquisition of SQM.During and after the acquisition,it uses analytic hierarchy process to comprehensively evaluate the financial risks,and uses event research method and EVA method to compare and analyze the short-term and long-term performance of Tianqi lithium’s acquisition of SQM.According to the research results,the core motivation of this acquisition is to see the international lithium battery resources.The financial risks of M&A 2re high risks,mainly including hidden financial risks,valuation risks,financing risks and payment risks;The short-term performance of M&A is significantly improved,but the huge debt has an adverse impact on the long-term performance;In order to reduce the financial risk of cross-border M&A and improve the performance of cross-border M&A,we should correctly evaluate the target enterprises before M&A,improve the risk control system,implement diversified financing,and pay attention to the integration after M&A. |
