International Company Horizontal Merger and Acquisition - Case Study

• Main Authors: Chi-Hsiang Chen, 陳基祥
• Other Authors: Ing-San Hwang
• Format: Others
• Language: zh-TW
• Published: 2002
• Online Access: http://ndltd.ncl.edu.tw/handle/16354443430903838699

碩士 === 國立臺北大學 === 企業管理學系 === 90 === Enterprises in the 21st century face the globalize competition. M&A is one of the most quickly method to grow, which emphasizes on timing and cost saving, pursuing high value added achievement and professional core competencies. To increase the international competition capability is the major consideration for the recent M&A activities. Horizontal merger means two or more than two companies joined together to organize an independently company; in general, those companies operate in the same industry field. The main goals are increasing market share and reducing the number of main competitors. M&A activities were deeply influence by the corporate vision, strategy business unit’s objectives and business unit’s products portfolio. This thesis is based on exploratory study and is made up of several parts such as reference discuss, research design and individual case analysis. In this thesis, the acquiring company has merged 4 companies in the period of 1999 to 2000. The objects of my study are as follows: 1.To explore how the international enterprises manage the M&A activities and grow from the integration. 2.To discuss the synergy which affects the different level of conglomerate, such as functional level, business level and corporate level. According to the statistics, only 25% M&A reach the expected synergy. The synergy may be created after accumulate certain experiences. Through study famous international enterprises M&A cases, domestic companies can take as a reference in their future M&A activities. The conclusions of this thesis are summarized as follows: 1.In the conglomerate, the contributions of synergy are accessed by whether it fulfills the requirements to the enterprise’s different levels or not. 2.The creations of synergy are highly relied on the priority developing goals and properly re-organization administrating by the professional team 3.The synergy creating is highly relative to the scope of resources integration input by acquiring and acquired company 4.In general, during the assessment stage, the expected synergy are too optimization to achieve. 5.The synergy created by M&A integration to reach the target needs more patients and longer time