The Financial Appraisal Of Heilonjiang Electric Power Company Merging With Huayuan Electric Power Company

With the rapid development of economy of China and the gradual internationalization of market, the competitions betwen Chinese enterprises trend to be furious. Under such a background, inorder to obtain sustained competitive edge, Merger and Acquisition has became the main enterprise activity. As an affective way of running capital for modernized enterprise , M & A is the product of market economy. It is the most important form of optimizing the disposal of the capital in modern economy and one of the ways to realize the economical choice of the strategy for development.With the development of electric reform, the trend of M&A in Chinese electric industry will be coming. The electric listed company with powerful strength, excellent achievement and good records of financing will be on a good wicket in the upcoming M&A tide. As the first listed company with share A and B in electric industry, Heilonjiang electric power company limited has been concerned with M&A for ten years. With multiplicate M&A measures and several successful finances in security market, the company has been to the road of fine persistent development. In the course of M&A of the case of merging with Huayuan electric power company, the motive of M&A, the choice of M&A type, evaluate the object-firms value, defined the merger exchange ratio are very important...