The Study of Mergers and Acquisitions-The Case of Cable Coporation as an Example

碩士 === 國立雲林科技大學 === 企業管理系 === 104 === Corporations frequently gain the market share with M&A strategies. Cable TV industries are booming up with large-amount M&A trends in recent years. Start from 2005, TFN took over PacBand, one of the cable TV industries, there were large-amount M&A ca...

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Bibliographic Details
Main Authors: CHEN,SU-WEN, 陳素雯
Other Authors: LIU,YUN-SHI
Format: Others
Language:zh-TW
Published: 2016
Online Access:http://ndltd.ncl.edu.tw/handle/gqj229
Description
Summary:碩士 === 國立雲林科技大學 === 企業管理系 === 104 === Corporations frequently gain the market share with M&A strategies. Cable TV industries are booming up with large-amount M&A trends in recent years. Start from 2005, TFN took over PacBand, one of the cable TV industries, there were large-amount M&A cases every two or three years. It’s especially refers to the Far Eas Tone telecommunications (FET), Foxconn and Taiwan Optical Platform (TOP) that took over CNS, ADSL and independent system channel. Corporation M&A is the way that to be applied as developed strategies, but it also failed easily. It’ll be worth to discuss about the organization structure adjustment and variation of management institution after acquisition. The research adopts individual interviewing method and takes A Cable Coporation as example to discuss the multi-stage of M&A motivations and the organization integration after acquisition of this corporation. Through the result, it shows that the M&A motivations are multi-dimensional and except the obstacles originated from lower the cost to obtain scale economy and avoid competitions. In the first stage, there’re still the motivations to acquire the fund requirements of running permits, but it’ll influence the business as the distrust raising between directors and managing team after M&A and will become one of the motivations in 2nd M&A stage. The most important matter after M&A is the integration, leadership and the composition of managing team. The 2nd stage of this individual case comes to the distributions of M&A stock rates will be based on the managing household amount and the amount of stock right will be the major factor for leadership. In first stage, C Cable TV Channel held the absolute leadership, but the managing team was established through the negotiation between two secs in order to balance the M&A. In 2nd stage, the cable TV with leadership form the new managing team. After managing team been elected, it’ll be soon proceed the integration of HR, organization, institution and culture. In the first stage, it is due to family business managing type of original cable TV which was without clear institution and formal organization structure. It is referred to same trades to establish institution and organization structure and because of similar corporation culture, the culture integration do not really conflict. In the 2nd stage M&A, it’ll be focused on moving the department of financial, management and customer service center to headquarter due to unified management and reforming of organization and institution. However, due to bureaucratic habit of leader corporation, the team spirit became worse than better cooperation originally. Each department starts to become bureaucratic and with low mutual aid and offer excuses to avoid actions. The both stages of this case achieve M&A motivations and developing M&A effects.