Factor Analysis, The Times Group's Acquisition Of Listed Companies

As the key approach of enterprise development under the normal precondition of market economy, Merger and Acquisition (M&A) is guiding the rapid development of private company. With the promulgation of Temporary Administration Regulations for Company's State Owned Assets and the establishment of brand new state owned assets administration system, the new round annexing and re-structure will occur among Chinese enterprises in the next several years. On the basis of reviewing and summing-up the theory of M&A and the merger of public company in China, the paper focus on studying these factors have effect on M&A through the case of Time Group purchasing the state owed shares of MinZu Group, including merger reasons, government and shareholder, law and rules, purchasing price and financing. It points out that the support from government and the key shareholders is the critical factor for successful merger, while the complete and detailed arrangement in advance is the basic. Research result of this thesis can provide some reference for company merger under Chinese market environment.