Research On The Problems Of Business's M&A

M&A is an important economic phenomenon in economic life and asignificant method often be used in the process of business improvement. Everyeconomic prosperity by a large number of M&A occurrations . Every business expansion often marked by M&A . Business M&A behaviors in our country become more and more widespread in pace with the development of the world economy's globalization and China joining WTO .Firstly, By the abstract theories about business M&A of other countries and our own, this thesis differentiates and analyses the conception and motions of business M&A. It also introduces the general mode of business M&A and probe into how to choose the M&A patterns. Secondly, by combining with the whole process of M&A analysis the thesis comprehensively introduces the main contents and methods of business M&A' s value appraisal and detailedly introduces principles of discounted cash flow method, comparable company analysis method, comparable transaction analysis method, as well as the way how to determine the main parameters of them by giving corresponding examples. After that, it analyses the suitable range for use of different appraisal methods and the present situation of our country's business value appraisal, point out the problems and puts forward the solutions of them. Thirdly, the thesis separately expounds how to choose financing policies and financing channels, how to analyse financing costs, how to determine the unit of financing ways. Lastly the thesis analyses the cause of financial trap of business M&A and the possible loss, puts forward some measures for lesting financial trap.