企业并购通过协同来创造价值,并购体现了企业的经济实力和市场竞争力,也体现了国家的经济实力和国际竞争力,实现协同效应是企业实现并购预期和战略目标的基础。针对我国并购协同效应没有实现的现状,本文从并购前动机、并购后整合两个方面对其进行了分析,希冀为我国并购实践提供一些指导。 Mergers and acquisitions create value through synergy. M & A reflects the economic strength and market competitiveness of enterprises. It also reflects the country’s economic strength and international competitiveness. Achieving synergy is the basis for enterprises to achieve M & A expectations and strategic goals. In view of the unrealized status quo of M & A synergies in our country, this paper analyzes the motivation before the merger and the integration after the M & A, hoping to provide some guidance for the M & A practice in our country.