Listed Company Convertible Absorption Of The Merger Effect On Market Value

Basing on the theory of companies Convertible merger, The paper analyses three times process of Ji’nan iron and Steel Company Limited convertible merging Laiwu iron and Steel Company Limited, Comparing with other events of convertible merger case,such as Guangzhou Automobile Group convertible merged GuangQi Changfeng, China Communications Construction Company limited merged Luqiao construction company, then illustrating the degree of influence on the market value by the convertible absorption of the merger.The content structure:The first part is an introduction. Introduces the background and significance of the research,&the main concepts; The second part is theoretical basis and literature review. Introduces the influence of convertible absorption of the merger on market value, and the impact factors in the merging process; The third part is convertible absorption combined development. It Overviews domestic situation&development process of the convertible merger, Analyses current cases of the convertible absorption; The forth part described case company industry background and analysis the case companies by the SWOT way; The fifth part describes the3times convertible merger process and analyses of the influence on the market value; The sixth part is the conclusions; Summing up the above theoretical research and empirical analysis.The innovative points:As different with previous merger case, The case companies merged successfully at last,but failed twice at beginning. So in addition to analyze the merger case with horizontal comparison, conduct the compare of three times own merger process;Through the analysis the response&influence of twice failure process, backs the market value of the absorption of the merger, reveals the uncertainties and market risk.