Research On Value Creation Of M&A

Since the 20 th century, with the rapid social and economic development, highlights the increasingly fierce market competition, many enterprises in order to be able to have a place in today’s society, not only by means of their own strength for their development, but rather to seek opportunities for cooperation in order to expand through mergers and acquisitions own market. In recent years, mergers and acquisitions is to become an important means of economic restructuring and optimizing the allocation of resources, and plays an important role in business development in China. For businesses, relative to maximize profits,maximize value, they are more concerned about maximizing value, how to make acquisitions to create value for enterprises to make the problem of enterprise financial management activities are most concerned about. Looking at the domestic merger, ended in failure everywhere, really create value for mergers and acquisitions numbered. So for businesses to explore how corporate mergers create value crucial for the future development of enterprises of great significance.In the past on M&A’s research focused on motivation, performance analysis of M&A and M&A integration, etc., or limited to certain factors of mergers and acquisitions may be more one-sided, the value of the entire M&A path analysis of studies comparing create less. This article is by reading a lot of literature, according to case basis of relevant theories need to establish, through case analysis, Alibaba merger Youku Tudou, for example, first introduce the background of mergers and acquisitions process. Factors acquisition value creation and impact on Alibaba Motives and M&A process for analysis, particularly from the preparatory activities before the acquisition, M&A transactions and post-merger integration activities were analyzed. Through the effects of post-merger reflects the analysis of the merger is to create value through the realization of synergies. Followed reflect the value added through acquisitions using financial indicators for profitability, solvency, operational and development capacity for analysis, confirmed the merger of enterprises to create value.Finally, through a series of carding, summarized the Alibaba Youku Tudou merger value creation path, and the future prospects and mergers and acquisitions advice.