Mergers And Acquisitions Theory

Merger and acquisition is called M&A for short,there are many kinds of M&A in reality,If we classify them from different point of view .The earliest M&A occered in U.S..A at the bottom of 20cn ,So far there are five climax. Quantity and scale of M&A is going up at all time ,and there are more and more operating ways of M&A .Regardless of so many ways and classification in M&A, the most important aim is based on the superiority of M&A, and also because all enterprise want to earn more and more revenue, this superiority can help them make its aim into reality. In order to analysis the problem completely ,this paper contain the motives of anti- M&A enterprise(sellers).As a kind of property exchange way and resource allocation way , M&A way is different for different corporate in different time and different economic policy ,so I didn'twrite the specifical operating way------in my opinion ,thisway should be decided according to the reality .So I write the advantages and disadvantages of all ways ,hope to give some reference for operating.The earlist M&A occered in China after 1983, because of special economy base and system , M&A in China has its specialmotives, on the base above ,methods and difficult of M&A in China is different from M&A in western country . in order to resolve the problems, we need make the property of state-owned enterprisS clear , loosen the controlling on other enterprise, re-positioning the function of government in M&A ,and build the real modern corporate system up ,etc.Reorganization after M&A behavior is important, in long time , most enterprises break them up ,so that many .M&A behaviors failed, therefore ,this paper expounds the importance of reorganization after M&A finished, last part of this paper supplies models of reorganization .