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Mergers And Acquisitions Need To Avoid "Dead Ends".

2011/5/18 8:53:00 38

Under the impetus of market and information globalization, the allocation of production factors is changing to a dynamic and open way. Mergers and acquisitions undoubtedly become a way for spinning enterprises to make rapid use of external resources.

Because it involves shareholders, managers, employees, consumers, creditors, etc.

Supplier

The adjustment and balance of many internal and external interests such as the local government and the public, the difficulty and the risk of M & A are often beyond imagination.

In the global economic environment, combined with the characteristics of textile industry and enterprise's own conditions, the author thinks that we can focus on the following aspects:

First of all, the relevant textile and garment enterprises must develop according to their market position.

target

And market resources, and so on.

Among them, "

Trade

The "alternative type" is suitable for export oriented garment enterprises which mainly face overseas development, and its leading products are subject to anti-dumping investigations.

Timely acquisition of overseas similar target enterprises can acquire foreign market networks and bypass multiple barriers such as anti-dumping investigations.

For example, Weihai Di Shang bought Paris AVERY brand to enter the Paris female fashion market.

"Brand technology acquisition" is suitable for strong textile enterprises to acquire similar brands with high brand awareness.

For example, Zhejiang huding group's acquisition of Italy wool textile enterprises.

The main purpose of such M & A is to win the support of international brand awareness and R & D team and occupy the domestic high-end market.

"Technology diffusion" is suitable for textile enterprises with high technology level, strong management ability and strong market influence.

The implementation of the technology diffusion M & a strategy can produce economies of scale, technology diffusion effect, product value-added effect, and optimize the industrial chain.

The Shandong Ruyi group, which has "efficient short process embedded" original textile technology, is buying Shandong Sakura.

Secondly, the implementation of M & a growth strategy for textile and garment enterprises depends on whether the enterprises are fully prepared and whether the M & A environment is mature.

M & A surveys mainly include the company's operating conditions, company regulations and contracts, corporate finance and accounting matters.

The specific content depends on the information needs of managers, the size and relative importance of potential Target Corp, the reliability of financial information, the size of internal risks and so on.

Moreover, M & A opportunities are often fleeting.

Owners and enterprises should pay attention to "healthy" target enterprises, and pay more attention to "shock" enterprises that are in low ebb, undervalued and consistent with company strategy.

For example, in the haze of the financial crisis, some influential textile and garment enterprises appeared to have difficulties in operation and undervalued, which provided an opportunity for powerful enterprises to acquire low-cost products.

Among them, Shandong Ruyi purchase RENOWN price less than 5 years ago 30%; the United States clothing only use receivables to achieve the acquisition of two seamless underwear brands in the United States.

Due to the accurate acquisition of M & A, it not only reduces the cost of M & A, but also wins the market opportunity for the rapid growth of enterprises, and the risk of M & A can be controlled.

In addition, integration is the key to achieving the expected value of mergers and acquisitions.

Due to the integration of resources, such as people, wealth, goods, knowledge, information and other resources for textile and garment enterprises, it is difficult to involve multiple stakeholders.

Jack Prouty, the global merger and integration business partner, points out that 70% of the M & A failures in the world stem from the merger and acquisition process.

Therefore, we should integrate emotional integration, camera integration and flexible integration to advance the process of M & A integration and control the risk of M & A integration.