" Reliance New Energy, a wholly owned subsidiary of Reliance Industries Ltd, has today signed definitive agreements to acquire substantially all of the assets of Lithium Werks BV for a total transaction value of $61 million including funding for future growth," the company said in a statement.
On the one hand, non-technology-based mergers in the lithium battery industry mainly entail vertical mergers. Vertical mergers refer to the acquisition of companies that are upstream or downstream of the acquiring company, with a direct relationship in regard to production processes or business operations.
Based on the year when the 18 listed companies in the lithium battery industry first implemented M&A during the sample observation period, the merger value is 1 after the year of the first merger, and the merger value is 0 for the subsequent mergers.
Using a multiple-period difference-in-differences approach, the study empirically examines the impact of M&A on technological innovation in lithium battery companies. The research findings indicate that the implementation of M&A strategies by new energy companies can enhance their technological innovation levels.
Reliance New Energy Limited (a wholly owned subsidiary of Reliance Industries Ltd), has signed definitive agreements to acquire substantially all of the assets of Lithium Werks BV for a total transaction value of US$61 Million including funding for future growth.
For the existing research on the lithium battery industry M&A, only a limited number of scholars have investigated the characteristics and driving factors of M&A. Monge et al. (2018) considered the M&A of US oil and gas companies in the lithium battery industry.
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