Researching The Valuable Evaluation On Merger And Acquisition

In recent years, with China's rapid economic development and the constant improvement in the capital market, corporate acquisition and merger, reorganization of assets and other activities have become active again.Facing the active merger and acquisition market of our country, how reasonable, carry on the goal enterprise pricing accurately now, becomes the influence merger and acquisition the key question. This article has outlined the domestic and foreign enterprise merger and acquisition correlation theories, has discriminated the goal enterprise value appraisal to the merger and acquisition significance, introduced the primary value appraisal method of the goal enterprise in the merger and acquisition, meanwhile has analyzed the different appraisal method applicable scope and has carried on the comparison to the different method, and explained the goal value assessment method in detail with the case, was putting forward some proposals finally.Carries on the value assessment through the science reasonable method to the goal enterprise, can provide an objective basis for the feasibility of the sale, can keep the bilateral enterprise in the merger and acquisition achieve the merger negotiations fairly well.Therefore this article research goal is lies, through the enterprise value assessment question's research in the merger and acquisition, expected that can provide some new ideas and information for the merger and acquisition policy-maker, scientific guide China's enterprises mergers and acquisitions practice, and promote the efficiency of mergers and acquisitions of domestic enterprises improve.This article altogether divides into five parts. The first part is an introduction, introduced the domestic and foreign enterprise value appraisal's theory achievement, has expounded the goal enterprise value appraisal to the merger and acquisition significance. The second part elaborated in detail the domestic and foreign enterprise value appraisal method, has discussed the enterprise value appraisal three methods: The cost law, discounted cash flows,the market law, and discussed its respective serviceability and the limitation separately. The third part to the present reasonabler discounted cash flows law carries on analyze in detail. The fourth part carries on the appraisal through the actual case.In the research technique, this article unifies the qualitative analysis and the quantitative analysis, uses for reference the domestic and foreign scholars in the enterprise merger and acquisition and the value assessment aspect research results, also uses our country's actual case ---France SEB group to purchase the Zhe jiang Suboer company to carry on the analysis explanation. In the merger and acquisition process, carried on the appraisal and the research to the goal enterprise value has manifested the modern enterprise values, it regarding enhancement enterprise decision-making's ability, enhanced the enterprise decision-making scientific nature, the guard enterprise decision-making risk has the important value.