| In the current market environment of our country,the competition of enterprises is increasingly fierce.In order to improve the comprehensive strength and competitiveness of enterprises,M & A has become an important way.Since 2018,China’s macro-control of the real estate market has continued to deepen,and the real estate industry is experiencing the third stage of policy tightening.In 2019,the government issued relevant regulations to rectify the current phenomenon of real estate speculation.A series of measures are put forward to promote the stable development of the real estate market and stabilize the house price.The development of the real estate industry has gradually entered a stable period in which stock and increment coexist.Reform,continuous tightening of financing channels,increasingly fierce market competition and a series of changes in the industry situation,the real estate industry is facingproblems in the development.Real estate enterprises need to improve their anti risk ability and form their own brand advantages in a short time,so M & A has become a main way.Through M & A,major real estate enterprises achieve business integration,industrial expansion,scale expansion and other diversified transformation.However,M & A is a complex activity.While bringing high-quality opportunities and rich benefits to enterprises,there are also many financial risks in many aspects that cannot be underestimated.If the risk in development can not be well controlled,it will not only cause debt burden,but also affect the long-term development of enterprises.Therefore,it is very important to study the financial risk control of M & A.On the basis of clarifying the research framework,this paper uses the literature research method to summarize the research results of domestic and foreign scholars on the financial risk control of M & A.according to the risk control theory,dynamic risk control theory,synergy effect theory and information asymmetry theory,the case analysis method is adopted to select the representative one in the real estate market,rongchuang China M & A Wanda This paper analyzes the financial risks of M & A from four aspects: valuation risk,financing risk,payment risk and financial integration risk,identifies the finance of each stage in the process of M & A,sorts out and analyzes the financial risk control strategies used by rongchuang China in the process of M & A of Wanda business,and evaluates the control effect of each strategy.Finally,combined with this case study,the paper puts forward some suggestions on the control of financial risk in M & A,which can provide effective reference for other enterprises. |