A Case Study Of M & A Effect Of Inner Mongolia Yuanxing Energy Co., Ltd

Mergers and acquisitions as a complex corporate activities, plays an important influence to the industry and the whole national economy. In recent years, more and more companies realize their development goals by way of mergers and acquisitions, such as lower operating costs, gain economies of scale, and enhance market competitiveness. Meanwhile, mergers and acquisitions is a complex process of capital operation, which bears substantial financial risk, legal risk, moral risk, market risk, and so on.Coal as an important chemical raw material, widely used in electricity, chemicals, steel and other industries. In recent years, especially in 2012, by the national energy conservation policy, and the impact of domestic and international macroeconomic environment, the downstream industry into restructuring, equipment updates, product upgrading stage, slow down the pace of development, the demand for coal is clearly insufficient Rally the coal industry overcapacity situation is still grim, coal prices continue downturn trend. Loss of coal enterprises to further expand the area of the first half of 2015, and sales and other factors increase the difficulty of making the payment industry business is now eligible for reduced capacity, debt indicators weakened further rise in coal enterprise credit risk. And the National Energy Board issued a "coal industry development," second five "plan" clearly put forward to encourage the chemical industry with integrated coal enterprises through mergers and reorganization of the coal industry and the chemical industry, accelerate structural adjustment and promote industrial upgrading energy improve the market competitiveness of the industry fundamentally.This paper describes the mergers and acquisitions background and significance of Inner Mongolia Yuanxing Energy Co.,LTD(hereinafter referred to as Yuanxing Energy), reviewed the research related to mergers and acquisitions at home and abroad; secondly defines the concept of mergers and acquisitions, explains the basis of acquisition effects relevant theories, describes the main evaluation methods of mergers and acquisitions effects; describe the Yuanxing Energy mergers and acquisitions activitie’s background, process, from four areas analyze the effect of mergers and acquisitions: its profitability, solvency, operating capacity, development capacity, and as a basis, pointing out the problems after Yuanxing Energy merger, puts forward measures to help improve the effect of mergers Yuanxing Energy...