Under the situation of the internationalization and global trend, enterprises are facing ever more rigorous competition. Therefore the best way to keep sustainable competitive advantage is to upgrade continuously, and through economies of scale and economies of scope to keep the cost down. Furthermore, to ensure firm¡¦s global competitiveness, the fast growth strategies are through mergers and acquisitions. Based on that American enterprises had over nine thousand M&A cases, we found about three fourth of the result of M&A are not successful achievement; its failure rate is extremely high. The reasons included fault in selecting the target, over-paying, and failing to integrate after M&A. Although M&A can instantly gain the another firm, but still long way to achieving success, because the effects in M&A must go through integration stages. Even if the M&A strategy is correct and the price is reasonable, failing to integrate after M&A, the synergy of M&A is unable to reach. This individual research is deeply researching the process and result of USI group after M&A, then compare between the research results and related documents, and conduct to conclude the suggestion for the further integration.

Taiwan's Uni-President Enterprise Corp. started its business from flour. In order to save costs, Uni-President proceeded with a vertical industrial integration at the initial stage, opened additional businesses at the middle stage, and diversified until recently. He has been playing a pivotal role as a pioneer for marketing, product development, and even diversification strategies in this industry. With the expansion of overseas investments, Uni-President Enterprise Corp. received significant benefits from economies of scale. South Korea has been a formidable competitor to Taiwan. Our market is not only flooded with various Korean electronic equipment, household appliances and audio-visual entertainment, but also the foods. For example, the koala-shape biscuits and chocopie, which are rather popular, are from Lotte, the food industry leader of South Korea. These two enterprises are both leaders in the food industry, and take integration and diversification as parts of their development process. Diversification of product and business is the main method to facilitate growth. M&A (Merger & Acquisition) is the fastest and safest way to enter a new business field. Taiwan's Uni-President Enterprise Corp. and Korea's Lotte Group are the main cases for this study. Here we analyzed their strategies and motivations to understand the synergy and business performance these groups have as well as their differences.

The main purpose for this paper is to study how we should focus on and its management during business merger and acquisition so that we could achieve the goal what we wanted successfully. The study can have several structures as follows: 1. How to announce the message of M&A to outside is pretty important to avoid any rumor happened --- Philips PPCK in this sample did well by: (1) Corporate Centurion Meeting (2) Business Strategy Review Meeting (3) Senior Staff Meeting (4) Town Meeting (5) Philips Components¡¦ memo 2. Re-plan the business strategy to bring up the morale of employees (1) PPCK¡¦s vision --- ¡§Keep creative and innovative to sustain its value¡¨ (2) The evaluation for long-term strategies and priority setting of 1999 strategy. (3) Build up ¡§One Unit Concept between the company and the employees¡¨ (4) Listen to voice from employees and (5) The comments from Labor Union 3. Build up the communication channel in full support in different ways (1) Make the communication process transparently (2) Management Team offer appropriate directions at any time (3) Go towards to a common consensus ¡§Three win --- The employees, Shareholders and management team¡¨ together 4. Decision Making to be done as planned (1) Define the decision model and time schedule (2) The negotiation and breakthrough on the preferential retirement measure (3) The protection on working conditions (4) The crisis management on keeping key-persons 5. Thinking about the synergies how will it be after merger and acquisition (1) The competitive advantages of the company that to be merged (2) The competitive advantages of the desired goal company (3) The advantages on global after merger and acquisition Keywords: M&A (Merger and Acquisition); Synergy; Competitive Advantage; Passive Components; Settlement; Communication

M&A has for decades been an important topic within the corporate world as well as financial research, due to its performance and the impact it generates. The main objective of this study is to explore the effect of M&A announcements on the short-term performance of acquiring firms on the Swedish stock market. By conducting an event study with a sample of 194 M&As in various industries from 2007-01-01 to 2018-02-07, we are able to retrieve abnormal returns, analysing cumulative abnormal returns in order to measure the effect the announcements have on the stock price. Three performance factors are included in order to get an understanding of the potential impact they have, and if so, how strong that impact is. The performance factors are (1) payment method, (2) diversified versus focused M&As, and (3) cross-border versus domestic M&As. The empirical findings tell us that the abnormal returns are significant for most industries, and to a great extent positive. The performance variables only show significance for cash as a payment method where it generates a negative effect on the main event window (-1, +1). With these findings we hope to contribute to existing research by creating higher awareness to society and organisations about the performance M&As bring.