Research Of Merger Financial Performance Between American Tower And Xiangtan Ditong

Merger and acquisition is the enterprise development and the means to improvecompetitiveness,is not only a high risk,high return and may have economic activity. Inrecent years,with the development of economy,some enterprises began a large-scalemergers and acquisitions. These have a certain strength of the enterprise with most M&A means to reach a certain goal of enterprises,such as the expansion of enterprisescale,lower transaction costs,low barriers to entry into a new industry. However,notall mergers and acquisitions can achieve the desired effect,which requires in-depthstudy on M&A performance.Based on related literature in this paper systematically summarizes the basictheory,enterprise merger and acquisition,and as a guide,a systematic analysis of themainstream method of M&A performance factors and to evaluate the influence ofenterprise merger and acquisition of the connotation and the performance of M&A.On this basis, to USA tower2011acquisition of Xiangtan Tong Co. Ltd as an example,the M&A before and after a total of five years of earnings quality, the quality ofassets, cash flow as the research object, using the index analysis method was used tocompare the performance before and after the merger, through the analysis of the M&a performance USA Tao merger Xiangtan Tong is not the ideal, there are manyproblems in M&A, and in the light of these problems, proposes the countermeasureand suggestion, constructive: M&A should be based on the current situation andability of the enterprise to choose the appropriate payment; through reasonable mergeron price, the effective use of assessment agencies and development of investmentbank and control of merger premium; before the acquisition, make clear theacquisition plan; strengthen the integration after M&A.