| With the rapid development of global economic integration,competition among enterprises is becoming increasingly fierce.In order not to fail in the competition,enterprises should try to seize the market opportunity and increase the market share,so as to gain more advantages than other enterprises.For this,more and more enterprises are expanding their capital.For modern enterprises,the fastest way is to merge and recombine with competitors or other enterprises with blank business scope.But with the beginning of the merge process,enterprises are going to face a lot of risks,the biggest risk is financial risk,since financial activities run through the whole process of merger and acquisition M&A.It includes the value evaluation before M&A,the payment form in the course of M&A and the integration procedure after M&A.If the enterprise cannot handle the financial risks very well in M&A process,then the future economic development of enterprises is likely to continue to decline or losses.Therefore,to solve the financial risk in M&A is the key to improve the success probability of M&A.Firstly,this paper used the literature analysis method to state the background of group Q acquired enterprise Y on the basis of the former research results.It included the industry background,The basic situation between buyer and seller,the purpose and motivation of M&A,the process of M&A and the financial risks in M&A.Secondly,combining the methods of level analysis and case analysis,the paper analyzed the financial risk in the process of M&A according to the time sequence.The risks covered enterprise value evaluation before M&A,payment in M&A and post-merger integration.At the same time,the paper analyzed the control measures of financial risk and the problems in the process of group Q acquires enterprise Y.Finally,the M&A process was restored by sorting out the case of group Q 's merger and acquisition of enterprises Y,and through this case analysis,we would obtain some enlightenment and suggestions about M&A. |
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