企業跨國購併之探討-以明基購併西門子為例

Abstract

企業購併是一個進入市場最迅速的手段，但在進行跨國購併，除須有整體的策略及目標規劃，亦須選擇適當的購併標的，取得相當的購併價格，對於購併後的整合，包括管理，行銷通路、財務規劃執行、組織調整，法律規定、企業之發展亦須審慎評估後，再執行購併之行為，才能達到購併後企業的綜效，創造購併後企業的價值。 明基電通為台灣電子業自由品牌之一，為何購併德商西門子公司之手機通訊部門，其動機、策略，目的，做法，以及後續的整合都是相當令人感到興趣的。明基為何會購併西門子手機部門?為何要進行跨國購併?如何找到合適的收購或被收購對象?如何擬定購併策略？為何願意接收經營不善的公司?上述均係購併時必須一一評估審酌的。另外，併購後人事問題如何整合?如何調整經營政策?如何整合管理制度?均是併購過程所須考量的重要因素。又為何明基在經過一年併購後，卻選擇放棄併購案，其理由為何。 本文透過了解明基為何會選擇購併西門子，西門子是否適合為被收購之對象?明基的策略及著眼點為何?經由深入剖析明基購併西門子之過程，及其失敗之理由，提供未來企業在進行相關購併或整合的工作時，進行內部之自我評估，審視本身是否具備有條件進行M&A；此外也可以提供實務界實際從事相關工作者一個參考的範例；再者，能讓相關主題之後繼研究者，更多一份參考之輪廓與方向。

Business mergers are a fast way to enter the market. However, for an international business merger, in addition to an integrated strategy and objective planning, it is also necessary to select the adequate merger object and merger price and post-merger integration including management, marketing channel, financial planning and enforcement, organizational adjustment, law and regulations, and business development reviewed closely before the merger takes place in order to fulfill the comprehensive effect of the business merger and create business value after the merger.

BENQ is one of the electronics brand names in Taiwan. The motive, strategy, purpose, and mean of BENQ acquiring the cell phone department of Siemens and the integration that followed is quite interesting. Why did BENQ acquire the cell phone department of Siemens? Why did the international merger take place? How should an adequate merging or merged subject be found? How should a merger strategy be drafted? Why can a business entity with poor business performance be acquired? All these questions should be answered before initiating a merger. Moreover, how is the personnel integration going to be after a merger? How should a business policy be adjusted? How should a management system be integrated? All these factors must be considered throughout the process of the merger. Why did BENQ choose to abandon the merger after one year of effort? What is the reason behind the decision?

This study is to understand the reason why BENQ chose to merge Siemens? Is Siemens an adequate subject for a merger? What is the strategy of BENQ in this attempt and why? By studying the process of BENQ acquiring Siemens and the reason for its failure to provide the industry with an internal self-evaluation while conducting a merger or integration; also, to examine whether the industry qualifies for the process of M&A; moreover, provide the industry with a real practice for reference; finally, offer future researchers a profile and direction for reference.