China Aluminum Convertible M & A Research And Evaluation Of Baotou Aluminum Share Swap

Enterprise merger and acquisition is a common behavior of the economy in the world. It has become a means and manner for enterprises to expand scale, adjust industrial structure and improve operation and management. Stock-exchange merger is an innovation means of merger under market economy condition, and provide a new mentality to the listed enterprises which are looking for low cost expansion, because it doesn't need large amount of funds. Chalco stock-exchange merge Btalco is a milestone in the development of Chinese capital market, it's the first case of absorption merger in the entire circulation market, and it will have remarkable demonstration effect.This thesis is divided into four chapters, the detail contents are as follows:Chapter 1 introduces the basic situation of Chalco and Btalco, analyzes the background of Chalco stock-exchange merge Btalco.Chapter 2 describes the motivation and the basic project of this case, then expatiates the three key points (the way of the payment, the quantity of the payment, the protection of the dissenters ) in detail.Chapter 3 appraises the exchange ratio used in the process of Chalco stock-exchange merge Btalco, base on the L-G model.Chapter 4 summarizes the characteristics of this case, and puts forward responsive strategies for the merge and acquisition of Chinese enterprises from the point of view of government.