Groupe PSA: Acquisition of Opel/Vauxhall—From Turnaround to Profitable Growth

內容大綱
In 2017, the French automaker Groupe PSA (PSA) agreed to buy loss-making Opel/Vauxhall units from General Motors Company. PSA had just recovered one year earlier from losses it had sustained since the global financial crisis. With the recovery, PSA had launched a new strategic plan with aggressive goals for sustainable profitable growth. However, PSA’s sales were continuing to drop in the important Chinese market due to fierce competition, and the newly acquired units were still making losses. The use of electric cars was on the rise, and the European Commission had proposed a reduction in carbon dioxide emissions. PSA was planning to re-enter the United States, and in Britain, it was facing ambiguous Brexit negotiations, raising concerns about increased costs with importing and exporting parts and finished vehicles. In light of all of these challenges, how could PSA still reach its aggressive goals for sustainable growth?
學習目標
This case is intended for a senior undergraduate- or graduate-level course on mergers and acquisitions, restructuring, enterprise turnaround strategy, international business, or strategic management. After completion of this case, students will be able to<ul><li>analyze the impacts of a global economic crisis on multinational enterprises, using examples of a successful and a failed turnaround strategy;</li><li>analyze the impacts of regional integration and disintegration on strategies and performance of multinational enterprises;</li><li>discuss the motives and challenges of acquisition from the viewpoint of acquirer and target company;</li><li>discuss the formulation and implementation of an effective acquisition strategy based on types of synergies, nature of resources, extent of redundant resources, degree of market uncertainty, and level of competition; and</li><li>discuss competitive strategies, including branding and localization in a highly consolidated global manufacturing industry.</li></ul>
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