Risk Analysis Of Coal Enterprise Merger And Acquisition

Corporate merger is an important way to improve the quality of corporate resource and increase the utilization ratio,which can profoundly help the development of the corporate.Compared with the newly built coal mine which has problems like complicated approving procedures,long construction duration,unexpected resource changes,difficult management,and slow responding effects,merged coal mine has great advantages like easy approving procedures,smaller resource risks,quick responding effects,and zero construction duration.The coal mine merger has become a main way to enlarge corporate scale,optimize resource allocation,increase market occupation rate,and realize sustainable development.Compared with normal corporate merger,the coal mine has its own distinct features and risks because of its underground resource characteristics.It not only refer to capital trade,but also merging laws and regulation environment,technical conditions,market conditions,manning,safe production,and corporate cultures,which has more and bigger risks.There are a lot of problems for those merged coal mines.Some of them cannot operate;some cannot reach its expected investment goals.And also,the management of coal mine merger has its limits.Based on related theory and practices of project management,the process of corporate merger can be treated as project management.From the acquirer's point of view,through the overall thinking of coal mine acquisition risk in specific market background conditions,this article firstly take the project itself and the external environment as a breakthrough point,then through the on-site research,access to literature,organization of expert surveys to identify the risk factors of a coal project.It finds Various risk factors encountered in the process of mergers and acquisitions and project risk evaluation index system.It use the analytic hierarchy process(AHP)method and the fuzzy comprehensive evaluation method to analyze the risk factors of the coal project acquisition and for risk of evaluation.According to the survey and the statistical results,according to the weight analysis of the risk factors of the index layer,the "coal overcapacity,coal sales difficulties","the asymmetry of information between the two sides","low coal prices,large area of coal mines" Loss "has the greatest weight among all risk factors.In the process of merging Heze Coal and Electricity Company,we should pay attention to it and put forward the corresponding risk response measures to ensure the M&A and M&A after M&A and M&A are successful.