The Acquisition Effects Research Of Midea Group Share Merger Midea

Since the reform and opening, with the further expansion of the capital market,the process of economic integration will also gradually accelerated, m&a has become the main way companies seek rapid development in our country, the enterprise in order to realize the production and capital concentrated. Compared with the original enterprise mergers and acquisitions, in economic development under the impetus of merger and acquisition activity has gained rapid development, mainly show the transaction amount is increasing, the scale expands unceasingly, trading tools increasingly innovation and new features such as the diversification of forms of trading. Exchange is a kind of enterprise in the process of influence or control other enterprises in the form of shares as the payment method combined. It may not be restricted by factors such as enterprise scale and financing ability; Able to produce reasonable tax effect; At the same time, the share exchange merger may also bring great value for the enterprise effect. Therefore, convertible merger got rapid development in our country.Many enterprises have taken place in our country in recent years, the share exchange merger case, its situation and category is different. This article selects 2013 midea group share merger midea this case, the paper discusses its m&a effect implementation, for a share swap merger render effect of mergers and acquisitions research contributions. First of all, the article elaborates the theoretical part, lay a foundation for the analysis of the case. In this paper, at first the background and significance of topic selection, system reviews and summarizes the domestic and international research results about convertible merger acquisition effect. And then expounds the convertible merger, that is, the theory of exchange mergers m&a effect analysis method and the method for determining the convertible merger ratio. Then,based on the theory of the introduction of midea group in merger that midea this case.This paper introduces the merger on both sides of the background, the motivation of merger, the merger process of exchange, and the rationality of the share proportion of the identified are discussed in this paper. This paper exchange m&a effect of midea group before and after the merger are analyzed: in stock price, financial index method,the value added effect, synergistic effect and competitiveness effect as a starting point for the study of concrete. On the basis of the thorough analysis, found the share swap the problems existing in the merging process, and put forward relevant effective suggestion: enterprise when carries on the exchange merger should choose the appropriate method for determining the proportion of share exchange, exchange the merged enterprises should strengthen the resource integration and optimize equity structure, the convertible merger is the key to success. Faced with a share swap some of the problems existing in the merger, in addition to their own efforts, countries should also actively promote the reform of capital market. After these implications and Suggestions for Chinese enterprises in merger activities provide a train of thought.This article innovation mainly lies in: the existing convertible merger cases are mostly based on the domestic listed company as an example, this article selects cases is the exchange between parent-subsidiary merger, and is a public company by merginglisted company implements the group's overall listing, for other enterprises in the future through a share swap merger implementation provides certain guiding significance to the overall listing.