M & A Theory And Practical Analysis - Luo North Easily Shanxi Accessible, Acquisitions Analysis

Merger and acquisition is one of the most important ways for enterprises to develop, cultivate and strengthen their core competency. The direct objective of enterprise development is helping them reach reasonable scale, obtain competition advantage to increase economical effectiveness. However, it is considerably slow and difficult for an enterprise to grow to a guru just based on its own capital accumulation. Capital market and its derivative tools are excellent alternatives to enterprises. Capital operation between companies can broaden channels of financing and shorten the long periods of project designing, investment research and operation. With these capital methods, an enterprise in the advantage position can grow faster to a transindustry, transregion and transnational giant. Additionally, merger and acquisition prompts the centralization of social capital, shifting and upgrading of industrial structure. As a matter of fact, the majority of the current top 500 enterprises developed by M&A and other related ways. In an other word, M&A has become an important way of developing with faster speed than average. To ensure the feasibility, financial analysis must be conducted . This dissertation is composed of Four parts. Part one introduces the basic concepts of M&A and general process of M&A. Part two involves in analysis on China's M&A environment, present environment and cause of M&A. Part three is related to an M&A case about Luoyang Northern EK Chor Motorcycle Co., Ltd. and Guangzhou Dayang Motorcycle Co., Ltd. This part analyzes the concrete the two firms' profiles, the domestic motorcycle competing market and global market. Additionally, the possible problems in the process of M&A are also listed and analyzed. ?Also?from?the?financial?feasibility?on?the?merger?financial?affairs?correctly?of?angle,?the?value?assessment?of?target?enterprises,?enterprises?merger,?have?merged?the?way?and?carried?on?overall?analysis. Part four is the conclusion and the shortages of this dissertation. It studies M&A in details and concludes that the M&A case is within the framework of present industrial policy and necessary to the enterprises. The dissertation also provides a good reference to other enterprises which plan to conduct such M&A activities.