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China is currently in mineral resources, large, rapid consumption of the industrial era, and will continue for a long period of time. China's mining enterprises to go out to participate in cross-border mergers and acquisitions is an inevitable choice for sustainable development of the country's economic development and enterprise, the prospects are considerable, but the road will not be smooth. CNOOC's bid for Unocal oil company missed Minmetals acquisition of Noranda Mining Corporation of Canada plans have fallen in aluminum injection of Rio Tinto $ 19.5 billion contract has been tearing up the other side are the M \u0026 A transactions to be strangled in the cradle of the case. Other M \u0026 A transactions, China succeeded, but that does not mean all the successful acquisitions because acquisitions after the takeover, if China can not effectively integrate acquired company, the business will be in trouble. Chinese enterprises overseas M \u0026 A late start, but also in the experience of the exploratory stage, changing environment facing domestic and international acquisitions and mergers and acquisitions of the complexity of the various aspects of mining companies overseas mergers and acquisitions may encounter a variety of risks and obstacles, mainly for the political and legal obstacles, the strategic decision-making mistakes, valuation is not accurate, single financing payment cultural conflict in the post-merger, operation and management of risk. Risk prevention is directly related to the success or failure of the cross-border mergers and acquisitions, corporate risk corporate internal and external environment in the M \u0026 A process should be sufficiently predictable and comprehensive preventive measures. Should develop a comprehensive strategic planning, acquisitions and target companies due diligence and know ourselves. M \u0026 A flexible negotiations, actively expand financing channels and reasonable arrangements for payment of the way, as far as possible to reduce the financial pressure. Still can not sit back and relax after the merger, planning, timely communication, to solve the problem of cultural conflict and human resources, can take some of the financial tools to avoid the risk of price fluctuations. In addition, in line with the mining companies out of go strategy, the Government should management facilitation, and to create a more relaxed environment at the institutional level. The end of a fuzzy hierarchy method CMN M \u0026 OZ risk quantitative analysis, the model results and reality reveals the political risk of the merger is its major risk, decision-making, risk and operational integration risk impact of M \u0026 A success or failure large. Minmetals successful OZ's part of the assets to the later mining enterprises to go out and leave some experience revelation: the pre-merger fully prepared, flexible negotiation strategies, resolve risk the same time, adequate human and financial resources is essential to the success of protection .
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