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M \u0026 A Strategic Analysis

Author: BaoJinPing
Tutor: YuShuLian
School: University of Foreign Trade and Economic
Course: Business Administration
Keywords: Mergers and acquisitions Strategic Analysis
CLC: F271
Type: Master's thesis
Year: 2006
Downloads: 1043
Quote: 0
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Abstract

In this paper, in 2005 China National Offshore Oil Co., Ltd. (hereinafter referred to CNOOC) takeover of U.S. oil company Unocal (also known as the Union Oil Company of California, hereinafter referred to Unocal) failed one case, for example, on M \u0026 A strategy in-depth analysis. Generally speaking, mergers and acquisitions transactions in the process of pricing is a core part of the acquisition, CNOOC bid higher than major competitors Chevron nearly $ 1.5 billion, resulting in the withdrawal offer CNOOC, Chevron acquired success. With questions of this in-depth analysis and research. CNOOC through internal and external environment, comprehensive in-depth analysis of the acquisition, summed CNOOC external environment, opportunities and threats; internal environment of the strengths and weaknesses, summarized the key elements of its acquisition strategy table. I found that the acquisition of the industry has a particularity: oil as an extremely important strategic resource, is a colossal industry, as in many countries have been severely restricted foreign acquisitions of \United States and other countries will be foreign companies in the country engaged in such mergers and acquisitions transactions, strictly limited to the \The author combines SWOT analysis, the use of evaluation matrix elements of the strategy, the company found to be acquired from the host country laws and policy factors fundamentally affect foreign companies to enter and compete for foreign capital in the country plays a decisive role in the success of mergers and acquisitions. Thus the author summarizes the experience of the acquisition CNOOC, tentative to other cross-border mergers and acquisitions of Chinese enterprises raised some inspiration and advice, implementation of the proposed acquisition strategy, to fully assess the threat of the external environment, in the preparation stage merger anticipate, analyze, and identify risk factors for mergers and acquisitions and the likelihood, determine the cause of the realization of the conditions and factors, risk aversion and the establishment of risk management systems. And suggested that the central government holdings of shares held by the government as a sensitive industry, state-owned enterprises overseas acquisitions clear political obstacles. The Chinese government may consider to emulate European governments for state-owned enterprises employed golden share (Golden Share) approach that retain only one, as a number of important motions veto basis. Also recommended the establishment of foreign investment protection mechanism, the establishment of a national overseas investment insurance agencies, responsible for China's foreign-invested enterprises to provide political and economic class of insurance, in order to appropriately reduced in cross-border mergers and acquisitions of Chinese enterprises in the future risks and losses.

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