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Analysis of the merger and acquisition of the third party logistics enterprise

Author: XieHongYan From: www.yourpaper.net Posted: 2010-06-01 07:09:02 Read:
Keywords paper: third party logistics M & A integration of
Abstract: based on analysis of the third party logistics enterprise M & A to the necessity, specific ways to the third party logistics enterprise mergers and acquisitions, proposed should pay attention to the third party logistics enterprise M & a problem.Finally pointed out that M & A is an effective way to promote the growth of industry, but the merger itself is only social resources to a new layout and optimization, the third party logistics business performance and fully resolved not through M & a will.
The necessity of 1 third party logistics enterprise merger analysis
The enterprise merger and acquisition is the "merger", "merger" and "acquisition" concept, collectively, is different from enterprise restructuring and strategic alliance concept.Logistics enterprise merger and acquisition is that under the conditions of market economy, two or more enterprises in accordance with the provisions of the legal system of specific procedures, through the signing of a market contract form merging into a new logistics enterprise behavior.China's logistics resources are too scattered, the third party logistics enterprises are in small scale, low degree of specialization, the service function is single and the third party logistics market has great potential to coexist at the same time phenomenon, a direct request to the third party logistics enterprise merger and acquisition.Mainly from the following several aspects to analysis:
1.1 logistics service integration, professional.Facing the increasingly fierce market competition and rapidly changing market demand, to provide total logistics services for customers, namely integrated logistics services, the so-called "one-stop" integration, become the key to the modern third party logistics enterprise survival and development.But most of the third party logistics enterprises in China to provide basic logistics service, it is difficult to realize the whole process service, under extensive management and low level.This requires the integration of third party logistics enterprises, changes the original decentralized, small scale farming to intensive control, realize the integration effect of resources and capital, market and customer, realize the scale benefit.
1.2 integrated logistics resources and optimize the allocation of resources.The market concentration degree is low, a large number of small third party logistics enterprises in the low-end logistics service market has become the biggest obstacle to the emergence of China's logistics industry.So, various kinds of resources of logistics market (including human resources) integration, improve logistics industry market concentration degree is a necessary requirement to promote the development of Chinese logistics industry, this can be done by the logistics enterprise M & a way to achieve.For high-end logistics enterprises, need to expand its network through mergers and acquisitions of small enterprises, the supplement and adjustment of enterprise assets, to achieve the best economic scale, reduce logistics costs, achieve economies of scale; and for the low-end market of small enterprises, the merger and reorganization, is it not another way.
1_3 need to build and enhance the core competitiveness of enterprises.Merger of global enterprises in recent years, it is not difficult to find, many enterprises are trying through mergers and acquisitions to build the core competence of the higher level, the new, in order to achieve corporate sustainable competitive advantage.Some of the more powerful of the third party logistics enterprises through mergers and acquisitions some distinctive with expertise and have complementary advantages of logistics enterprises to build and enhance the core competitiveness of enterprises.In addition.Small and medium-sized logistics enterprises some distinctive itself is their core competition ability, but because it is too small and can not make full use of this ability.The M & a mode can obtain larger market space for development, so that they can use the core competence, gain greater competitive advantage.
Need 1.4 to cope with the international competition.With the full liberalization of the logistics industry in China by the end of 2005, foreign logistics enterprises with capital and technology advantages, put up a pageantry layout of China logistics market, in the face of external pressure, China's domestic logistics enterprises are the most effective and direct way to do this is to change the natural growth model, the M & a mode for rapid expansion, economy of scale.
2 third party logistics enterprise mergers and acquisitions
Combined with the actual situation of the third party logistics enterprise, the third party logistics enterprise merger mode can be divided into three kinds, namely, horizontal merger and acquisition, vertical merger and conglomerate merger.
2.1 of the third party logistics enterprise merger & Acquisition
The so-called horizontal merger refers to belong to one and the same industry or industry, or product in the M & A behavior between the same market enterprises.Between third party logistics third party logistics enterprises horizontal merger is the production of similar products or provide similar services acquisition.Logistics enterprises horizontal merger is easy to generate economies of scale, synergies, technology and management on the 1 1> 2 effect, realize the scale benefit increase.So, the horizontal merger is suitable for mergers and acquisitions to achieve economies of scale of logistics enterprise.
But excessive horizontal merger may lead to monopoly, thus limiting competition.When logistics enterprise obtained a sufficiently large market share through the horizontal merger, enterprises can with the dominant market position regardless of other small and medium-sized logistics enterprises and the abuse of market power, improve market prices, limit the amount of logistics service.Other small businesses will have to follow the behavior of enterprises to adjust their business strategy, so as to achieve an informal cartel.
2.2 the third party logistics enterprises merger
The so-called vertical merger refers to the process of production and sale of a merger between the upstream and downstream industry chain, mutual connection, closely related enterprises.The third party logistics enterprises merger is the supply chain logistics enterprises in its functions transferred to the supply chain upstream or downstream, the former is called the alternative, which is referred to as the downstream alternative.A vertical merger way, its purpose is to reduce the transaction costs of business activities.Vertical merger applied in the operation of the industry more, including interested to establish and form their own core value chain logistics group company.
Mixed M & 2_3 third party logistics enterprises
The so-called mixed M & A refers to mergers and acquisitions between production and business not related products or services in each other's business.The main purpose of mixed M & A is decentralized operational risks, improve enterprise's ability to adapt to the market.Mergers and acquisitions between third party logistics conglomerate merger that logistics enterprises and other industries, businesses, mixed M & A is applied in its main business of strength is very strong, in the industry leading status in the logistics enterprises, in the industry has achieved the scale economic benefit, and have good management ability and the remaining funds, energy and other resources, logistics enterprises according to market conditions, through a mixture of M & A, actively looking for new growth point of the industry, realizing the diversification of management.
We should pay attention to 3 third party logistics enterprise merger and acquisition problem of
M & A has great significance to the development of enterprises, but from a practical point of view, many mergers fail.In order to ensure that the third party logistics enterprise M & a success, should pay attention to the following questions:
The 3.1 merger goals must be clear
The third party logistics enterprise must have a clear understanding of their own strategic objectives through mergers and acquisitions to achieve before the acquisition, according to the strategic goal of screening, selection of target enterprises on the market, the only way to ensure their merger and acquisition of enterprises can really for their own use, to achieve the basic purpose of the integration of resources, expansion of the scale.Moreover, M & a clear goal, also contribute to the merger and acquisition work and policy direction of setting.
3.2 note Target Corp legitimacy.M & A is the main body of the market economy property right transaction, transaction whether subjects with legal qualifications essential.Transaction is established according to law and legal existence, whether to have engaged in a specific industry specific qualities will influence, and may even cause great losses in acquisition, merger failure.
3.3 of the target enterprise integration after M & a rapid and effective.After the Target Corp acquired, it is easy to form the management chaotic situation, especially in the hostile takeover, when many managers have left, the loss of customers, the chaos of production, so need to integrate quickly and effectively to Target Corp.Accredited senior management personnel stability Target Corp to Target Corp's daily operations, and the integration of various aspects.Enterprise culture integration should be paid special attention to, because many studies have found that: a lot of mergers and acquisitions of failures are due to the integration of the two sides of enterprise culture is not good cause.
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