IDENTIFICATION AND RISK ASSESSMENT OF CROSS-BORDER MERGERS AND ACQUISITIONS BY CHINA’S COAL ENTERPRISES
This paper relates cross-border mergers and acquisitions (M&A) risk management theory to actual coal enterprises in China. The 3 phases of M&A are preparation, implementation and integration. By using the Analytic Hierarchy Process and fuzzy evaluation methods, we will try to establish a model to assess risks of the cross-border M&A of China’s coal enterprises. We then apply this model to the case of Yankuang Group acquisition of the Felix Company and receive the assessment results. There are significant reasons for quantitative research on risks of cross-border M&A of China’s coal enterprises, such as effective prevention and risk-aversion, and facilitation of cross-border M&As.
Risks; Risk; Coal; Acquisition; Phase; Integration; Australia; risk assessment; Implementation; Evaluations;