Research On The Performance Evaluation Of Lanfeng Biochemical's Acquisition Of Ark Pharmaceuticals

In recent years,under the influence of the state's support of agricultural policies,the pace of listing of agricultural chemical enterprises in China has been accelerated,and the number of listing has been increasing.At the same time,the pesticide industry has been continuously merged and reorganized,and gradually realized the industrial and structural adjustment.Since 2014,under the influence of climate change,crop price decline,exchange rate fluctuation,global agricultural economy weakness and other factors,in order to reduce production costs and improve production technology,the global agrochemical giants have set off a new round of M & a wave.At present,the domestic economy is under great pressure from two aspects: downward and overproduction.The pesticide industry in China is also facing great challenges of industrial ecology.With the important transformation of economy,the increasing pressure of environmental protection and the change of agricultural production demand,China's pesticide industry has entered a critical period of industrial structure adjustment and industrial content integration.The evaluation of the effect of M & A activities has been paid more and more attention by researchers,which is a research hotspot.This paper introduces the related concepts of M & A and M & a performance through a large number of studies on M & a performance by scholars at home and abroad.It introduces the theoretical basis of M & A activities from three aspects: synergy theory,information and signal theory,and M & a motivation theory.It also studies and analyzes the characteristics of the agricultural and chemical industry and builds the research basis of this paper.Lanfeng biochemical is a pesticide industry enterprise in China.In the second half of 2015,Lanfeng biochemical's merger and acquisition of ark pharmaceutical also attracted wide attention in the pesticide industry.Therefore,this paper chooses Lanfeng biochemical's merger and acquisition of ark pharmaceutical as a typical case to study.The data comes from CSMAR database,Lanfeng biochemical's annual report,sina finance,Net Ease Finance,and juchao.com Close the website,use the event research method and factor analysis method to analyze the performance of Lanfeng biochemical before and after the merger,and analyze the problems existing in the merger and give relevant suggestions based on the situation of Lanfeng biochemical.In this paper,the effect of this M & a event from the short-term and long-term perspective.On the impact of short-term M & a performance,this M & a event has achieved excess earnings,brought short-term wealth effect to the relevant investors of the enterprise,and improved the short-term M & a performance of Lanfeng biochemical.On the impact of medium and long-term M & a performance,this M & a event also has a positive impact on Lanfeng biochemical's M & a performance,and has a certain degree of improvement on Lanfeng biochemical's medium and long-term performance.Through the case study of Lanfeng biochemical M & A of Fangzhou pharmaceutical,this paper also summarizes some suggestions and inspirations for the M & A activities of the enterprises in the agricultural chemical industry,including strengthening the integrated management after the M & A,strengthening the establishment of the internal control system of the enterprise,finding the goal and direction of the M & A,and paying attention to the environmental protection after the M & A of the pesticide industry Management,these aspects in all aspects of M & A activities are worthy of attention,hoping to provide some reference for the future M & A of Listed Companies in the agricultural and chemical industry.