The Research Of Value Assessment About Merger & Acquisition Between New Culture And Tulip

Recent years, our country has issued a series of regulation to support culture industry. According to this, many listed companies set media and mobile game companies as their Merger&Acquisition target. Thus, it turns to be worthful to do a reseach on value assessment of merger&acquisition about light assets and growth type companies such as media and mobile games.In this thesis, we will take the acquisition between New Culture and Tulip Mega Media as an example and research current valuation methods of merger&acquisition about light assets and growth type companies. We will also discuss what can be improved about current valuation methods through analyzing merits and demerits of them. We come to the conclusion that free cash flow discount method will be a good valuation method in additional to the original three methods. This method will be a better way to evaluate growth type companies and it is more close to international valuation methods.