The novel of Chinese `Snake` swallowing Western `Elephant` in the case of Lenovo acquired IBM PCD

Chinese Cross-Border Mergers & Acquisitions (CBMAs) dominated more than half amount of Chinese outward direct investment (OFDI) has received much academic attention in recent decades. Along with China's integration with global economies, hundreds of Chinese companies have become the Multinational Corporations (MNCs). Equipped with little internationalisation experiences and resources, Chinese MNCs not only struggling to survive in the indigenous competition, but also hunting the new opportunities in the global market. As the late comers, Chinese MNCs have faced various problems and challenges, particular in acquiring the Western enterprises. Take the deal of China Lenovo acquired IBM PCD as an example, this case study offered the in-depth research on the specific feathers and characteristics behind Chinese CBMAs, revealed its unique integration process and contributed the theoretical examination and generation. Moreover, this case study also compressively evaluated the overall performance of Lenovo in before and after acquisition by using both subjective and objective techniques. Finally, several practical implications are proposed.