Mergers And Acquisitions, Financial Strategy

The western countries have gone through the bigger M&A tide five times altogether so far, especially the fifth merger tide of representatives on later stage of 1990s, the scale is so big and influence power is so deep that can't be compared by the past tides. Our M&A market develops very fast, more and more foreign enterprise scrabble for China M&A market one after another during the impulse of this M&A tide. Reviewing the develop contrail of large-scale enterprise group all over the world, M&A is always the strategic choice that enterprise group outspreading and developing. On the contrary, looking back our enterprise M&A course, no matter in theory or in practice, the thinking and method amalgamating strategic management is not enough. If only according to conventional information and antique experience to cope with new M&A circumstance and M&A position, M&A won't succeed. Based on competition and develop requirement in internationalization view, our enterprise can improve resistance and response, can make sure the M&A route is clear, the M&A financial work is moderate, can make sure to improve financing ability and the M&A outspread is successful if only we mark out and coach our M&A financial work in strategic level and in view of M&A financial strategy.This paper first looks back the domestic and international research circs of M&A, financial strategy and M&A financial strategy, then reviewing the basic theory of financial strategy. In the principal part of this text, it defines the meaning of M&A financial strategy and explains the implement precondition-analysis of interior and exterior environment. Based on this, it puts forward M&A financial strategy programming, which includes the establishment of M&A strategic aim, the search of and it's assets valuing, the ascertainment of financing structure and the financial integration after the enterprise merge.