Private Enterprises In China M & A Study Of Risks And Preventive Measures

That corporation carries out the action of merging and purchasing, under the competition impetus, is an important way, which can maintain its steady progression and realize its expansion. Through the merger and acquisition, the company not only rapidly expands operating scale, achieves the economies of scale, enhances the competitiveness, optimizes the capital structure, perfects the company management structure , realizes the company's profit as well as the maximization of shareholders' wealth, but also advance the conformity and reconfiguration of industry and social resource, accelerates the transition and promotion of the industrial structure, enhances the industry competitiveness, improves the operating efficiency of the market economy. As the company's activity of merger and acquisition, it's a very complex activity of microscopic economy. The merger and acquisition is a growth way of enterprise's, which brings company the opportunities and profits,as well as huge risks. In the above research's foundation, proposed some suggestions and opinions to the merger and acquisition risk's guard, have designed the merger and acquisition risk evaluation model, and designs the merger and acquisition risk fuzzy evaluation computational procedure with software development tool Delphi. Finally, according Dongsheng group merger and acquisition Yunnan Baiyao case, this paper has carried on the thorough analysis to the Dongsheng group's merger and acquisition risk, calculated and confirmed the merger and acquisition risk with fuzzy evaluation method.This article first elaborates the background and significance of the merger and acquisition, reviews the domestic and foreign research present situation and achievement of the risk of the merger and acquisition, summaries and analyses the risk theory of the merger and acquisition. Based on this, this article researches the reason of the origin, the influencing factors and the type, which makes the policy-maker put more emphasis on the risks during the process of merger and acquisition. Then the article elaborates several recognition methods of the risk of merger and acquisition, which helps enterprise to recognize risks through appropriate methods. Finally, on the basis of research above, the article puts forward some proposals and opinions on the preventing of the risk of merger and acquisition.The activity of merger and acquisition has the uncertainty, and the risk often directly affects the effect of company 'merger and acquisition in different way on different stage. Thus, the research mainly focuses on the analysis and preventing of the risk during the process of merging and acquisiting while provides feasible method for enterprise to prevent the risk of merger and acquisition and provides certain model for the merger and acquisition enterprise's risk management.