Research On Characters And Selection Of Target Company In Control Right Transfer M&A

China's company is facing more drastic market competition after join in WTO and more and more foreign-invested company came into china. M&A is more and more important in the aspect of accelerating social capital, optimizing industrial structure and enforcing company's focus competive power of our country. However, M&A is a complicated system project, it's failure possibility is very high if improper strategy. The effect of our country's M&A is not satisfied to us, the general reason of lower M&A success possibility such as too much interpose came from government , not perfect of paper's market and the law of M&A , and also the selection of M&A's object is not improper to the development's level of enterprise leads to blindness M&A .It's very important to select target company on the basis of character's distinguish in the process of M&A. if not proper object selection, the following operation will be very difficult , even all hard would be nonsense.there are much research on M&A by now, much of them research the motive , purpose, mode and enviroment of M&A, and also the value estimate of target company and conformity after M&A. All these research are proposed on haven found a satisfied company, they had few words about the different between target company with the un-target-company and how to find the right one from the candidate company , and also neglect the question of how to select the target of M&A action. This thesis starts from the point of investment bank institution , recognizes the characters of target company whose control right was transferred, and make attempting pridicate,concludes some good advise on recognizing and decision of M&A targetcompany.