An Case Study Of Merger

With the development of market economy,merger has become an important means to expand business and capital and optimize resource allocation.At the end of the Nineteenth Century,merger started and soon enjoyed a boom.It has a history of more than one hundred years with mature theory developed and a lot of researchers interested in it.However,mergers happens among Chinese enterprises at rather later time,and its development speed is too fast,resulting in lagged theory and insufficient experience.At the same time,the mature western theories fails to suit the China conditions,leading to many cases of failure.Therefore,the real case study of mergers in China combined with China's national conditions and finding out corresponding advantages and disadvantages shed light on enterprise for future mergers and is of great significance.The paper selects two cases of mergers of dairy enterprises,and analyze their advantages and disadvantages before mergers and acquisitions,that is,the SWOT analysis,and the motivation,performance and later integration.We can see the changes after mergers,analyze whether the mergers has achieved its goals successfully,and find out their problems for inspiration of the enterprises.The first chapter is the introduction expounding the research background,significance,literature review at home and abroad and the research content and innovation.The second chapter is theory overview including merger motivation,performance and valuation theories,which are the foundation of following analysis.The third is the basic introduction to the enterprises of merger and case description,with the advantages and disadvantages of the two enterprises and merger process analyzed.The fourth is the case analysis,mainly about merger motivation,performance and valuation and integration.And the fifth is the conclusion and suggestions,summarizing the paper,and giving advice for the case enterprises.