The Case Analysis Of Savince Merges Beijing Lowcarbon With High Premium

In recent years, with the market economy going further, mergers and acquisitions become an important strategy for to be stronger and low-cost expansion for chinese enterprises. At the same time, with increasing environmental problems, environmental protection class enterprise in the listed companies becomes the object of attention. In driven by government’s environmental policy, environmental protection class enterprise began to gradually get rid of relying on past projects and funds provided by the government subsidies survival mode, actively on a big company bigger and stronger, regional expansion to the nation of mergers and acquisitions.In this background, this article with Savince merges Beijing Lowcarbon with high premium case as the research on environmental protection, choose three cases in the process of merger and acquisition activity events, combined with relevant theory, analyze the causes of problems in the case, provide certain countermeasures and the suggestions for domestic environmental protection class enterprise in the future.In this paper, the total structure can be divided into the following four parts:Part one is Introduction, this part includes the research background and significance, research contents and methods of three parts; Part two is Case Description, this part includes the introduction the profile of both sides of enterprise of M&A, including the M&A process, the target company assets evaluation, payment amount, method of payment, and so on.Part three is Case Analysis,this part includes the introduction enterprise merger and acquisition of relevant theoretical basis, including mergers and acquisitions valuation pricing method, synergy theory and the theory of overconfidence. Then according to the rationality of the existence of m&a premium,analysis from goodwill, asset appraisal method, share transfer ratio and the means of payment.Part four is the enlightenment and the suggestion, this part is mainly based on the above analysis, from the connotation of the goodwill and improvement of the subsequent measurement, enhancing professional level of evaluation institutions, improving income approach to assess and innovating the method of payment.Based on Savince merges Beijing Lowcarbon with high premium case for analysis, help to make the right investment value of the m&a project internal judgment, so as to avoid enterprise M&A risk due to the high premium, then provides a certain reference value for domestic environmental protection companies.