The M & A process and synergy in TFT-LCD industryA group M & A events as an example

• Main Authors: James Leu, 呂文雄
• Other Authors: Wang RU YU
• Format: Others
• Language: zh-TW
• Published: 2011
• Online Access: http://ndltd.ncl.edu.tw/handle/93495127372472755509

碩士 === 中原大學 === 企業管理研究所 === 99 === Mergers and Acquisitions in 2006 anywhere in the world, according to Business Week (2007 years) reported in 2006, the total amount of global M & A activity up to 3.4 trillion dollars (about NT 112.68 trillion), the peak of the last ten years. In the fierce competitive environment of the industry, mergers and acquisitions business has become a necessary part of growth strategy. From the experience of many of the world leading business cases, acquisition strategy and the successful integration of the smooth operation, no easy task. Global TFT-LCD is currently the major producer of products for the Asian region, including Taiwan, Japan, South Korean companies have won almost hundred percent global market share, manufacturers of the three areas of commercial activity carried out, will closely affect the overall TFT-LCD industry changes. In order to continue to control production, quality, market and technological advantages, many Taiwan enterprises must be transformed into an international enterprise, and many high-tech companies use mergers and acquisitions and other types of investment, production and sales in the country to establish a base for research and innovation, into the global logistics business . A photoelectric case studies; by years (2001,2005,2006,2009) distinguish four events, respectively, represent and analyze the M & A motives optical background, M & A types, the expected benefits (competitive advantage) and the acquisition of object stage of strategy formulation and results evaluation Share acquisition planning stage to post-merger integration, the achievement of expected benefits, expected benefits of the acquisition of non-integration phase. Further use of business cases horizontal mergers and vertical mergers business model in the TFT-LCD industry, the company achieved rapid growth through acquisitions and the key to zero to reduce costs and consolidate its main components in the value chain, the key position. A photoelectric while taking technology licensing, joint ventures, cross or self-expanding plants and other investment alternatives to achieve the purpose of expanding enterprises; the final adoption of M & A strategy, intended to actively pursue economies of scope and scale of the dual strategy of economic objectives. M & A challenging behaviors and risks in nature, the end does not necessarily successful. However, the reference model of TFT-LCD industry as the best, may be cited stone hills, to avoid making the same mistakes, and increase the chance of success. A case study reveals that the optical case management strategy implications for businesses will be cited as a reference. A case study by the photovoltaic panels industry case study analysis to understand Taiwan's TFT-LCD panel industry's competitive situation, and through "acquisition process" arising from the "benefits" of the collection and analysis of the interviews the case company, and the other on the case business strategy point of view of M & A on today's businesses, primarily in the impact of M & A success rate of the important factors. Enterprises in the golden period after the merger, how different organizational culture and values re-inventory of human resources grouped together, for organizational change, competitive advantage is expected to play, which was a worthwhile in-depth analysis of its key success factors of individual and According to the construction of propositions. In this study, and by "M"generated by "performance" of the collection and the case company's analysis of the interviews, from which to understand A optoelectronics, integrated upstream parts and components and downstream brand, more and further explore the measure of M & A results and the feedback: conclusion of the study And Discovery, A photoelectric KPI and Personal DNA through the global system settings, so loose focus and consensus organizations, and established the financial key indicators ROWC (Return on working capital, operating return on assets) and acquisition, the standard procedure (SOP) greatly simplifies Management costs, enhance the success of ROE, profit and dividend. To elevate to improve business focus. A photoelectric KPI and Personal DNA through the global system settings to direct the operation of M & A practice management is an optimal management.