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1、Unit Fifteen,E-mail: ,Teaching Objectives,了解中国品牌为什么把收购国外品牌作为走向世界的重要途径 了解美国各行业内合并的现状 了解Thai Beverage Public Company Ltd 收购古井集团相应情况,Teaching Emphases,merger acquisition stand up to equity fund parent company,Content,Text Fast Reading I Fast Reading II,TEXT Known Brands Acquiring Name Recognition,Pre-r
2、eading questions 1.Does China have many world-famous brands of its own? 2. Can you name a few merger & acquisition cases made by Chinese companies recently?,UP,PREV.,NEXT,Outside China, few have heard of brand names like Great Wall, Hisense, Konka, Amoi and Panda. That may change someday, but in the
3、 meantime, some Chinese companies are taking a shortcut and adopting widely known names to make them felt abroad. Chinas leaders have been quietly encouraging Chinese companies for years to set up overseas operations, acquire foreign assets and change themselves into multinational corporations, in o
4、ther words, to make themselves more competitive in a world increasingly dominated by Wal-Mart, Microsoft and Coca-Cola. Now, it seems, Chinese companies have gotten the message. In 2005, the Chinese computer maker, Lenovo, acquired IBMs personal computer business. Haier, one of Chinas biggest compan
5、ies, made a bid in June that year for Maytag. And in the same week, in the biggest move of all, one of Chinas state-owned oil giants made a hostile $18.5 billion bid for Unocal, one of the worlds largest oil companies.,Yet many of the companies seem to be acting partly out of desperation, as more fo
6、reign brands line shelves of retailers in China. “Chinese companies are now facing serious foreign competition at home,“ said Marshall Meyers, a professor of management at the Wharton School at the University of Pennsylvania. “So they have to do something. Theyve got to grow to global scale.“ The fa
7、ct is, despite restrictions on foreign competition here, few powerful brands have appeared in China over the past two decades. And now that some of those restrictions are being lifted as part of Chinas admission into the World Trade Organization, some of Chinas biggest companies are being forced to
8、adopt global strategies.,With its purchase from International Business Machines, Lenovo, a major computer maker in China but in fact unknown outside it, is suddenly the worlds third-largest computer maker, after Dell and Hewlett-Packard. TCL, another Chinese company, became the worlds biggest televi
9、sion set maker in 2004 after it acquired the television-set business of Thomson of France, which also owned the old RCA brand. And then there was the bid by China National Offshore Oil Corp., or Cnooc, for Unocal, an offer that touched off a Wall Street-style takeover battle with the U.S. oil compan
10、y Chevron. Experts say that whether these deals succeed or not, they are symbolic of Chinas rapid economic rise and its global ambitions. “The Chinese government has been preparing the top 100 to 150 companies to go overseas and expand,“ said Jack Huang, a chairman of the China practice at the law f
11、irm Jones Day. “The government wants to use this as a testing ground, to see how well the companies stand up to international competition.“ Dozens of Chinese companies stand in waiting and are not shy about their global ambitions.,“The future goal of the company is to make the name Great Wall known
12、across the world,“ said Liu Rengang, a spokesman for the state-controlled Great Wall Computer Group. A spokesman for Ningbo Bird, one of Chinas biggest cellphone makers, sounded equally ambitious: “Our future goal is to become one of the top three cellphone manufacturers in the world.“ Chinas Minist
13、ry of Commerce reported in June 2005 that even though Chinas exports are dominated by consumer products, few famous Chinese brands are involved in the export trade. Most goods are being shipped abroad with foreign brand labels. To adjust the situation, the ministry called on Chinese companies to sta
14、rt exporting their own “famous brands.“ Every region was ordered to produce its own famous brands. “We need to cultivate a group of independent famous brands that have international influence,“ the report said. “Each industry needs to have its own famous brand for export.“ The thinking behind the ef
15、fort seems simple: imitate the foreigners.,Japanese and South Korean companies like Toyota, Sony and Samsung made the moves from national to global brands quite successfully, but it took years. Analysts say Chinese companies do not have that luxury, because the rapid pace of globalization means that
16、 markets are now quickly won and lost. “Chinese companies dont have that much choice but to acquire overseas companies,“ said Joe Chang, a China specialist at McKinsey. “Very few companies can build organically any more. If they wait 10 to 15 years, they could be dead.“ By acquiring well-known brand names, experts say, Chinese companies are hoping to get access to global distribution networks, advanced research and development and recognizable brand names. “What
