Post-merger integration is a key part of the impact of mergers and acquisitions. In order to do a good job in post-merger integration, it is first necessary to analyze the new organizational form and conduct an in-depth analysis of the motivation of enterprise mergers and acquisitions. The experience of the acquirer on M&A integration has a large impact on the effectiveness of M&A integration. If the goal of M&A integration is business integration, it is necessary to quickly set up a management team after the completion of the M&A, including members of the M&A company and the M&A company, as well as external professional consultants, to form a high degree of trust between each other, cooperate with each other, and finally let the M&A company integrate into the M&A company.

From a formal point of view, post-merger integration can be divided into two types, one is tangible integration, the other is intangible integration, in which the objects of tangible integration include business strategy, human resources, organization and system, assets and debts and finance; The object of intangible integration is mainly culture, which is analyzed as follows.

◆ Business strategy integration

Business strategy integration refers to the integration of the advantages and strategic links of the acquired enterprise and the acquired enterprise to improve the overall competitiveness and profitability of the enterprise after the merger and acquisition. The competitiveness of enterprises can come from the main business, or from mergers and acquisitions. In fact, through mergers and acquisitions and integration with companies that complement their own business strategies, they can quickly improve their overall competitiveness.

However, compared with the endogenous core competitiveness, the core competitiveness obtained from the outside belongs to the potential competitiveness, not the real competitiveness of the enterprise, and it needs to be internalized, adapted, and integrated for a period of time before it can become the real ability of the enterprise. That is to say, the integration of business strategy after mergers and acquisitions should not only obtain new capabilities, but also integrate this new capability with the original capability system of the enterprise, further strengthen the core competence of the enterprise, allow the enterprise to obtain new competitive advantages in the new business field, add some new elements to the core competence of the enterprise, and let the enterprise glow with new vitality and vitality.

◆ Human resource integration

The main purpose of human resource integration is to allow the employees of the acquiring enterprise and the acquired enterprise to accept the merger and acquisition, enhance the mutual understanding of the personnel of both parties, let the personnel of both parties accept the differences between each other, and reach a common expectation for the future to achieve the goal of the merger and acquisition. Generally speaking, after an enterprise is merged by another company, employees will feel anxious, worried that they will lose their jobs, or will not be able to integrate into the new working environment, etc., so they will voluntarily leave their jobs, and a large number of personnel will be lost, which will have a serious adverse impact on the merger and acquisition.

◆ Organization and system integration

In the process of M&A integration, organizational and institutional integration is a very important link, and organizational integration can be cut from two levels, one is to reformulate the vision and mission of the organization guided by the organizational development strategy, and the other is to reshape the organizational structure. Organizational integration is a holistic, systematic effort that involves many stakeholders inside and outside the organization. By publishing a universally recognized vision and mission, companies can enhance the sense of mission and responsibility of shareholders, managers and employees, and let them work together to achieve the company's strategic goals.

There are many tasks for the restructuring of the organizational structure of the enterprise, including the reorganization of the board of directors, the adjustment of management, the analysis of positions, the adjustment of functions, the setting of departments, the reengineering of processes, the deployment of personnel, etc., in order to form an organizational system that combines openness and self-discipline, standardization and efficiency after the completion of the merger and acquisition, and creates a more scientific and reasonable management level, so that the division of rights and responsibilities of various business divisions, functional departments and strategic business units is clearer and clearer.

◆ Asset and debt integration

The integration of enterprise assets refers to the disposal of current assets, fixed assets, long-term investments, intangible assets, deferred assets and other assets of an enterprise through sale, purchase, replacement, trusteeship, repurchase, contract operation, etc. In the specific practice process, the integration of enterprise assets mainly focuses on the integration of fixed assets, long-term assets and intangible assets, and as for current assets, deferred assets and other assets, they are mainly integrated through financial treatment. Assets that are highly complementary to the acquired enterprise and the acquired enterprise can be replaced; Intangible assets such as know-how, trademarks, franchises, and land use rights should be deeply explored after mergers and acquisitions, so that these assets can continue to play a role.

Debt consolidation after mergers and acquisitions is mainly to transfer the debtor's liabilities or convert debts into shares. Although debt consolidation will not increase or decrease the total assets of the enterprise, it will change the debt structure of the enterprise, and the debt ratio of the enterprise can be adjusted to a more reasonable level.

◆ Financial integration

Financial integration refers to the supervision of the financial system and accounting system of the acquired enterprise, and the use of its own financial system to standardize the financial system of the acquired enterprise, so as to finally realize the effective management of the investment, operation, financing and other financial activities of the acquired enterprise, so as to obtain maximum returns. The ultimate purpose of financial integration is to meet the needs of enterprise expansion, lay a good foundation for the exertion of financial synergies after the merger, help the acquirer to implement effective control over the target party, and finally realize the merger and acquisition strategy. Through financial integration, the acquirer can establish a set of efficient financial system to achieve integrated management and effectively improve the utilization efficiency of various financial information and data.

◆ Cultural integration

In the process of post-merger integration, cultural integration is the most difficult. The purpose of cultural integration is to minimize the cultural conflict between the two companies, strive to achieve cultural integration, and finally form a corporate culture that blends with each other. In order to achieve this, enterprises should adhere to the principle of seeking truth from facts, learning from each other's strengths, seeking common ground while reserving differences, and shaping the common values of enterprises in the process of cultural integration. In this process, the leaders of the merged company should strive to gain the trust of the company's core team and have a positive effect on cultural integration.