| With the development of global economic integration and increasingly active cross-border trade,cooperation and competition among enterprises have become more intense,and many countries are seeking new business opportunities in order to expand their influence on a global scale.Cross-border M&A has become one of the most common means in this process.Geely,as a private automobile company,deeply recognizes that in order to strengthen its strength and maintain its advantage in the market,it must cross national boundaries and be brave to meet challenges,and cross-border M&A has become the most effective way to do so.Facing the diversified market demand,Geely Automobile not only did not slacken off,but also opened the road of overseas M&A for many years under the background of internationalization.This paper selects Geely’s acquisition of Daimler as a case study,and the financial and non-financial indicators after the acquisition are studied.Firstly,based on an in-depth study of the theories and current situation of cross-border M&A at home and abroad,this paper starts from the background of Geely’s M&A of Daimler,briefly introduces the process of Geely’s M&A of Daimler,and analyzes the motivation of M&A.Secondly,based on the analysis of four dimensions of the balanced scorecard method,we conclude that: Geely Group’s profitability declined after the M&A,its solvency was insufficient,its operating capacity was improved to a certain extent but was still insufficient,and its growth capacity slowed down;its branding was enhanced but did not lead to an increase in market value,its business scope was expanded,and its market share was increased to a certain extent;its internal operation process was appropriate,and its management level and efficiency were improved;and its independent R&D skills were also improved.Geely Group’s internal core competitiveness,such as independent R&D skills and branding effect,has been enhanced;in addition,Geely’s acquisition of Daimler has led to the gradual enhancement of Geely Group’s human capital and R&D capabilities.Again,a comprehensive evaluation of Geely Group’s operational and financial synergies after this M&A performance is conducted through principal component analysis.Then,the case is reviewed to summarize the successful experience and analyze the problems in the case,so as to put forward targeted suggestions.Finally,it is hoped that the analysis of this paper can provide experience for subsequent cross-border M&A enterprises to improve their M&A performance. |
