Research On The Value Estimation Of Z Company's Cross-border Merger And Acquisition Of VM Company

This paper studies the case of Z company’s cross-border acquisition of German VM company in the domestic motor production and service business.Through the research of the M&A case,this paper mainly evaluates the M&A behavior from the development background of M&A and M&A enterprises,the analysis of the motivation of M&A,the analysis of the value of M&A enterprises,and the analysis of the estimated value of M&A projects.The sufficiency and necessity of whether to take the merger and other behaviors and how to carry out mergers and acquisitions and other corresponding conclusions.This paper firstly expounds the concepts and theories related to M&A and the latest research results of scholars at home and abroad,and obtains corresponding theoretical support to better guide the reality of M&A cases.Secondly,this paper analyzes the background and related situation of Z company’s acquisition of VM company project,mainly studies the development of the merger and acquisition,the external environment of the M&A project,its own advantages and disadvantages,the external opportunities that can be sought,and the external Risk situation.On this basis,this paper demonstrates the necessity of Z company’s cross-border M&A VM project,which is to seek the favorable factors for the development of Z company in the world,to achieve breakthroughs in the international market through overseas M&A projects,to use its own advantages and to seize the outside world.Develop opportunities,implement mergers and acquisitions to achieve the improvement of their own strength and the creation of core competitiveness of enterprises.Then,this paper analyzes the value of Z company’s acquisition of VM company project.In a broader sense,the sufficient condition for the company to implement mergers and acquisitions is to realize and create enterprise value.Through analysis,it can be found that Z company’s M&A VM has many subjective values,including the company’s development strategy value,market complementary synergy value,business internationalization development value,and skill level enhancement value.In terms of objective value,Z company acquired VM company.Can achieve financial value,brand value,management value,production value and marketing value.In general,the implementation of M&A projects can achieve a match between subjective and objective values.On this basis,this paper uses the free cash flow method to estimate the enterprise value that Z company may acquire by VM company.The analysis results show that the M&A project can be implemented,which provides corresponding support for M&A projects.Finally,this paper puts forward corresponding suggestions on how to realize the risk aversion and value realization of Z company’s M&A VM company project.