The Research On The Valuation Of M&A In The FK M&A Case

China's m&a market has ballooned,both in terms of size and number of cases.In the face of more and more frequent enterprise mergers and acquisitions,the core issue of value assessment is becoming more and more important.With the enhancement of China's comprehensive strength,the new and high technology enterprises have gradually expanded,and the enterprise value assessment only USES the traditional evaluation method not enough to reflect.And with the deepening of reforming on the supply side,cater to the needs of The Times development,through the real option theory marked a new evaluation thought for our future steps necessary for enterprise valuation.This paper expounds the related concepts of enterprise merger,acquisition and reorganization,summarizes the existing related theory and the main model of valuation methods,the emphasis on the characteristics of the traditional enterprise valuation method,comparing real option pricing method and the advantages and disadvantages of the traditional valuation methods and practical,and reviews about valuations of merger,acquisition and reorganization of the relevant research results at home and abroad.Furthermore,this paper makes an in-depth analysis on the case of FK enterprise acquisition and reorganization.This paper mainly expounds the background of merger and acquisition,analyzes the motivation of merger and acquisition,and analyzes the financial indicators of target enterprises in this transaction including profitability,solvency and operation ability.And in m&a target enterprise valuation compares the general procedure of in-depth analysis,in the case of using the valuation method and model choice for detailed instructions,and to think,the valuation issue of merger,acquisition and reorganization cases combined with the merger,acquisition and reorganization of new and high technology enterprise and the characteristics of the new three board listed company,illustrates the problems existing in the enterprise m&a valuation.Finally Suggestions are put forward according to the deficiencies and problems,and improve the valuation method,and finally through the new reasonable valuation,valuation method is to put forward reasonable Suggestions to perfect the enterprise merger,acquisition and reorganization value valuation assessment.