Through analyzing the typical success and failure of U.S.high-tech enterprises in the merger and acquisition,this article tries to provide Chinese high-tech companies with some help in that way.The paper argues that the effective integrations of technical and intellectual resources is the only way to get a successful merger and acquisition,meanwhile it is that the cultural differences and conflicts that would lead to a failure of the acquisition transaction.%通过分析美国高科技企业并购成功和失败的典型案例,对国内高科技企业走并购发展之路提供有益的借鉴:技术和智力资源的有效整合是成功并购的必由之路,文化冲突和收购价值分歧会让并购走向失败。
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