Core capacity is the cornerstone - the tobacco industry the key to the success of multiple mergers and acquisitions.docVIP

 PAGE \* MERGEFORMAT 9 Core capacity is the cornerstone - the tobacco industry the key to the success of multiple mergers and acquisitions Because of the tobacco industry’s peculiarities, many of the tobacco companies holding out a large number of idle funds. Over the past has been limited due to enterprises to expand the size of these funds are often used for diversification. But, for various reasons, the result is always unsatisfactory. Thus, recently, a number of tobacco industry turned to mergers and reorganizations, the leaders also called for the tobacco companies: to do a careful analysis of the diverse operating conditions, the stripping of the divestiture as soon as practicable, the market for must into the market, the withdrawal is necessary to withdraw from. However, given the special nature of the tobacco industry, tobacco industry, the multi-acquisition, they can not stop and carried out throughout the tobacco companies are at different levels of multiple mergers and acquisitions. Then, the tobacco industry, multi-What is the key M amp;amp; A? In my opinion, based on core capabilities and integration of mergers and acquisitions are key to success. Why mergers and acquisitions based on core competence? The end of the century, China’s tobacco industry began a diverse number of mergers and acquisitions, even in a period of time set off a small wave. However, access to these non-related business sectors, companies do not have the expertise to specific business are familiar enough, mergers and acquisitions because they want to resolve the industry through diversification risks, to achieve unconventional leap-forward development. This is too broad diversification of the company make a profit with the business who are really concerned about the reduction in economic and social benefits are not ideal. In fact, this diversification of enterprises in the West, has also appeared in the seventies of the last century, most diversified mergers and acquisitio