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金融海啸造成全球市场的巨大动荡,使中国企业在一些主要的跨境交易方面有所顾忌。除当前全球经济危机的影响之外,决策者戒于采取大胆并购行动的原因要复杂得多。其中一个很重要的原因是,在并购交易活跃进发的2004年至2007年间,中国企业成功者寥寥。随着很多中国企业的海外并购案陷入困境,中国企业高管也变得更加务实,他们逐渐意识到在确定合适的并购目标及制定成功的并购整合策略方面经验不足,管理能力尚有欠缺。他们更多地认识到文化差异带来的挑战。他们现在也了解到新并购交易将受到社会公众和股东的挑剔和审查。然而,随着全球经济放缓的延续,有迹象表明,中国企业正准备重装上阵。随着中国企业开始重新谋划海外并购宏图,他们需要展现出并购流程及实践方面的卓越才能和技巧。这是六个关键提醒:
The financial turmoil has caused huge turmoil in global markets, giving Chinese companies scruples about some of the major cross-border transactions. In addition to the effects of the current global economic crisis, policymakers cautioned that the reasons for taking bold mergers and acquisitions are far more complex. One of the most important reasons for this is that there were only a handful of successful Chinese companies between 2004 and 2007 when the M & A activity was active. As many overseas Chinese mergers and acquisitions companies are in trouble, Chinese executives are becoming more pragmatic. They are increasingly aware of their lack of management skills in identifying appropriate M & A targets and developing a successful M & A integration strategy. They are more aware of the challenges of cultural differences. They now also understand that the new M & A deals will be picky and censored by the general public and shareholders. However, as the global economic slowdown continues, there are signs that Chinese companies are preparing to reload. As Chinese companies begin to re-plan their overseas mergers and acquisitions, they need to demonstrate excellence and skills in M & A processes and practices. Here are six key reminders: