The Oriental Pearl Of BesTV M&A Case Analysis

Bes TV convertible merger is The Oriental Pearl media industry of China A stock market is one of the largest capital operation. Using the convertible absorption merger can not only save the cost of M & A, to avoidance effect and the scale of mergers and acquisitions from enterprise scale capital and financing ability etc. many factors limit. Based on the case analysis of the background, using the method of literature research, case analysis and other research methods, the thesis is divided into seven chapters: the first chapter is introduction;the second chapter mainly discusses the basic theory of mergers and acquisitions and mergers and acquisitions literature review; the third chapter carries on the introduction of the merger case, first introduced for this acquisition background analysis, then carries on the introduction to the acquisition of the company, once again to the process of merger and acquisition is analyzed; the fourth chapter mainly from internal and external perspective on the acquisition and analysis the reasons; the fifth chapter is to analyze the enterprise merger and acquisition pricing, before and after the analysis of the merger of enterprise value change and exchange the sixth chapter analyzed the proportion; the acquisition results were analyzed, including synergy, integration and performance analysis; the seventh chapter summarizes the main conclusions of the acquisition and the enlightenment.Through the case of M & A in Bes TV analysis mainly draws the following conclusion: The main reason for this merger is the enterprise development strategic adjustment of China group and its the merger, acquisition and reorganization of listed companies; The transaction on the blockbuster has brought positive benefits of mergers and acquisitions, increased the vision of the enterprise value, but on the share proportion of some high; Through the merger integration blockbuster leads to the transformation of Internet enterprises; The acquisition of short-term performance significantly on m&a performance, but not enough to justify the acquisition has been successfully; The merger may say is an important performance of the media industry "combination", to improve the media industry market concentration and build China's media industry have the core technology of independent media brand.