Study Of M&A Performance Of "PE+ Listed Companies" Model

In the past few years,China's M&A market has ushered in a golden period of development in the context of China's economic transformation,policy support,and market environment.In 2015,China's M&A market reached its highest point since 2007,both in terms of transaction volume and transaction size.The scale of China's M&A funds has also expanded rapidly with the rapid development of the M&A market.At the same time,it has brought a new mode of operation for capital operation.The “PE+ listed company” model M&A fund was born in this context,and then developed into a merger and acquisition.One of the mainstream modes.This article will combine the literature review method and the event research method case study method to analyze the case of Aier Ophthalmology and PE to establish a merger and acquisition fund to acquire nine hospitals such as Foshan Aier.First,the listed company Aier Ophthalmology and PE institutions respectively funded.The motivations of establishing M&A funds were analyzed.The short-term market performance and long-term market performance were studied by CAR method and BHAR method respectively.The financial index method was used to study the medium and long-term financial performance.This paper finds that the “PE+ listed company” model of M&A has no significant market performance in the short term,and has no continuous positive impact on Aier Ophthalmology performance,but in the long run,it brings financial,management and operational synergy to Aier Ophthalmology.Both market performance and financial performance are significant,showing consistency.It is also found that human resources,corporate culture integration,strategic management,and technology transfer can help improve the market performance and financial performance of M&A companies.