| Along with domestic market economy continually develop and consummate, M&A become more and more frequency as a useful way to allocate resources optimally and companies growing up. The increasing transaction scale and amount of M&A caused the stock-for-stock merger to obtain a widespread utilization. The condition background and corporations' status in the case of Aluminum Corporation of China Limited (Chalco) merger Shandong Aluminum Corporation and Lanzhou Aluminum Corporation by stock for stock determine they have special motivations. And the exchange rate is always most important issue in this case. This thesis describes and analyzes these two issues.This thesis is divided into six chapters, the detail contents are as follows:The first chapter introduces the background of Chinese aluminum industry firstly, and introduces the merger enterprise and the target enterprises, and describes the detail process of this case.The second chapter brings up two issues for this case: the motivation and the exchange rate.The third chapter analyzes the Marco motivations and Micro motivations in detail from the theories to actual use.The fourth chapter analyzes the exchange rate in detail.The fifth chapter analyzes another two small issues, the first one is cash options, and the second one is market performance.The sixth chapter makes a summary for this case. |
PDF Full Text Request