A Research On Cross-industry Mergers And Acquisitions In High Premium

In recent years,the overall situation of China's economic development has become increasingly complicated.With the various measures introduced by the state,many enterprises have encountered bottlenecks in their development.Of course,many enterprises have ushered in new opportunities for development,A wave of mergers and acquisitions has taken place in the online games and mobile games industries.In particular,some traditional industries listed companies,often cross-sectoral and cross-sector acquisition of game assets,is hoping to get rid of the downward pressure on performance.Often,these mergers and acquisitions have the obvious characteristic of "high premium," and certainly not all of the high-value mergers and acquisitions have taken place in these areas,but the sheer volume of them all raises our concerns.This article adopts the method of case study to analyze the cross-industry mergers and acquisitions approved by China Securities Regulatory Commission(CSRC)in 2017,which is the first cross-border merger and acquisition case approved by the CSRC in China.From the acquisition of the purchaser and the target companies,with the relevant data and literature,Tourism interaction between the reasons for a more in-depth understanding and research,thus summing up the cross-industry mergers and acquisitions in the high premium causes.This article explores the causes of mergers and acquisitions' high premium from all four aspects: the motivation of M & A,the synergies of mergers and acquisitions,the accounting confirmation and the risk of M & A premium.The purpose of this paper is also to find out the reason of high premium through case studies,and then give suggestions and precautionary measures from the perspective of third parties.