Research On Appraising The Merger And Acquisition Value Of Logistics Enterprise

In recent years,under the impetus of the policy of expanding domestic demand,the demand of the logistics is increasing.Howerver,the Logistics enterprises are too small that is hard to meet the giant need.The logistics enterprises expand the enterprise size through the merger and acquisition to enhance the competitive power,but the ratio of the logistics' merger was not high,the main reason was the valuation of merger and acquisition is improper.This paper is focuses on the logistics' merger and acquisition valuation.Firstly,the paper has combed the current appraisal theory of the merger and acquisition,and analysed the serviceability in logistics enterprise merger and acquisition.Secondly,dividing the value of the logistic enterprise into two parts: the value of enterprise and the contribution of logistics enterprises in the post merger value promotion.The value of enterprise is the net asset value,the contribution of logistics enterprises in the post merger value promotion refers to the part the logistics enterprise accounts for that the value enhancement of enterprise due to the merger and acquisition.Generally speaking,the premium of the merges is the key aspects of successful merger and acquisition.The acquisition premium is the result of the action of the two sides,the paper uses AHP and expert scoring method to allocate the premium between the two sides,so that the price of the acquired is more reasonable.In the end of the paper,analyzing the case of the Xiamen port development Limited by Share Ltd acquired 51% equity of the Xiamen Port Group Co.Ltd.Shihushan dock.Dviding the Xiamen Port Group Co.Ltd.Shihushan dock into the value of enterprise and the contribution of logistics enterprises in the post merger value promotion.Using the DCF to value of the value of enterprise.Using the AHP and expert scoring method to analyse the contribution of logistics enterprises in the post merger value promotion.The logistics enterprise value is the sum of two parts.