Study On The Financial Effect And Motivation Of Stock-for-stock Merger-Lanxum Absorb Youwang As Example

Under the background of economic globalization,The Company is facing increasingly fierce competition in the market,one of the company's rapid growths as a way of mergers and acquisitions,mergers and acquisitions should be company manager's attention.Practice shows that major domestic and foreign IT companies,small and medium enterprises through the acquisition of good,effective integration,you can achieve the rapid development of IT companies.International excellent document lifecycle service providers are a developing process of self-development and mergers and acquisitions combined history.In recent years,document lifecycle management business areas,there are many large deals occurred.such as EMC acquires Captiva,and immediately after the acquisition of Authentica and Docscience,its intention to enhance the ability of front-end document lifecycle services and enhance the performance of its business management software.EMC competitor is IBM,IBM bought File Net,to strengthen their own advantages in the document management sectors.Oracle acquired Stellent and Captivation,increasing competition in the industry,not only effectively integrate acquisitions within the industry the company,but also makes the whole industry has been developing rapidly.In recent years,Chinese government issued a series of supporting the development of office information system service industry policy,China office information system service market is developing rapidly,and the development prospect is very broad.Lanxum as the strength of the local service providers in the field of office information system services,in a leading position in the local file output link.But the company and lead in the industry there is a large gap between the statuses of the Fuji Xerox Co,Mainland Company also faces more and more pressure of competition.In order to realize the whole process of life cycle of records,enhance the company's core competitiveness,lanxum acquisition in Youwang technology company domestic leading position in the life cycle of the input link file.This paper takes the case of lanxum stock-for-stock merger youwang and technology as the research object,using theoretical analysis and case combination method to study and exchange Purchase of the financial effects.In the reading massive literature material foundation,by means of summary describes the meaning of acquisition of the convertible,characteristics and related theories.The case study in specific parts of the,combined with financial indicators using ratio analysis and trend analysis method for quantitative analysis of Stock-for-stock merger of company's operating performance and market performance effects of,so as to summarize lanxum stock-for-stock merger of experience and lessons,obtained the Enlightenment of lanxum stock-for-stock merger and related suggestions.The first chapter is the introduction,introduces the background,based on the domestic and foreign research literature review,research ideas and methods of this construction,so as to comb out the framework of this study;the second chapter is the theory an overview of the motivation and financial effects of the acquisition of the convertible,stock-for-stock merger including the meaning,characteristics of the acquisition of the convertible,stock-for-stock merger motivation,influence factors and the financial effect of stock-for-stock merger theory;the third chapter introduces the basic situation of lanxum stock-for-stock merger friends network technology,including the acquisition of both the basic situation,the scheme and implementation process;the fourth chapter deeply studies the implementation effect of lanxum stock-for-stock merger,lanxum from profitability,operating capacity,solvency,capacity growth of four analysis of the stock-for-stock merger financial performance,from the ownership structure analysis of mergers and acquisitions have any effect on control,finally from the announcement date 30 days before and after the cumulative abnormal return rate and earnings per share of two aspects to analyze the market reaction of stock exchange merger;the fifth chapter is summary and recommendations.The results of the case analysis based on the experience obtained in short-term the financial effect of lanxum stock-for-stock merger is significant,long-term financial effect of a rise of the conclusion,and then summed up the experience and lessons of lanxum stock-for-stock merger friends network technology,the acquisition of the convertible lanxum implications and recommendations.According to the conclusions of this paper have the intention of the acquisition of the convertible listing corporation proposed suggestions to put forward,should be chosen reasonably according to the actual situation of mergers and acquisitions attention,endogenous growth and the growth of the common development and focus on mergers and acquisitions after the merger integration.