A Study On Stock Exchange Absorption And Mergeof Listed Companies

In the current economic field of China,M & A is a common transaction behavior,enterprises want to expand the scope of production,optimize the industrial structure,improve the level of management a nd management,M & A is a feasible choice to achieve these goals.The emergence of stock exchange M & A effectively solves the problem of large-scale capital outflow in the short term,which is an inn ovation in the current market economy environment.Since the 21 st century,China’s market economy has developed rapidly and vigorously,and M & A cases have also become more and more.China has comple ted more than 7000 mergers and acquisitions since2018.The continuous development of M & A market and the intensification of M & A transactions This special M & A model is also known to the public,exposing its potential problems and possible risks.In this case,the choice of issue price and share exchange ratio in stock exchange absorption merger is particularly important.In this context,it is of great significance to study the determination of issue price and share exchange ratio when stock exchange absorbs merger.This article adopts the case study method,selects the American exchang e stock absorption merger small swan is the A exchange A shares +B shares as the research object,the United States is the small swan’s controlling shareholder,this exchange stock absorption merger b ehavior is to widen the industry channel,integrates the product technical resources,enhances the global competitiveness.Yes Case study is an effective exploration of the absorption and merger of li sted companies,and has a strong market.In view of the initial process of stock exchange and merger of swans,this paper selects the annual report of case enterprises,the announcement issued,the da ta of relevant financial terminals and the narrative reports of various major media to provide guidance for the elaboration of this paper.This paper first reviews the domestic and foreign literature on stock exchange absorption and merger,reviews the literature,and introduces the main theories.Secondly,it analyzes the theory of stock exchange absorption and merger,and introduces the method of determining the proportion of stock exchange merger.Once again,the case of the merger of the United States stock exchange and absorption of the small swan study,summarized the basic two sides.Case and the process of merger,mainly analyzed the motivation of stock exchange merger,the determination of issue price,using each stock market price method,net assets per share method,L–G model,earnings per share method to test the share exchange ratio,and compared with thefinal determined share exchange ratio to draw a conclusion.At last,the paper puts forward corresponding countermeas ures and suggestions for enterprises to implement stock exchange absorption merger under the current market.