Abstract
Chinese Cross-Border Mergers & Acquisitions (CBMA) have accounted for a majority of Chinese outward direct investment (OFDI) and thus received much academic attention in recent years. Along with China’s integration with global economies, hundreds of Chinese companies have become multinational corporations (MNCs). Equipped with little internationalisation experiences and resources, Chinese MNCs not only struggle to survive intense competition, but also hunt for new opportunities in the global market. As late comers, Chinese MNCs have faced various problems and challenges, particularly in acquiring Western enterprises. Taking the deal of China’s Lenovo acquisition of IBM PC department (PCD) as a case, this paper offers insights into the specific features and characteristics behind Chinese CBMA. The study reveals Lenovo’s unique integration process and thus contributes to the theoretical development of CBMA literature. This study also evaluates the overall performance of Lenovo before and after acquisition of IBM PCD by using both subjective and objective measures.
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