Dissertation > Economic > Economic planning and management > Enterprise economy > Enterprise system

Case Analysis on the Selection and Valuation of Target Enterprises in Merger&Acquisition

Author YangZhiBin
Tutor XiaXinPing
School Huazhong University of Science and Technology
Course Business Administration
Keywords Mergers and acquisitions Target selection Value assessment Discounted cash flow model
CLC F271
Type Master's thesis
Year 2006
Downloads 702
Quotes 3
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With the attention to promote the deepening of the split share structure reform of listed companies in China , people from all walks of life assessment of intrinsic value of the enterprise , the value assessment as the core enterprise M \u0026 A cases in large numbers. The correct valuation methods to determine the appropriate purchase price , science has made ??M \u0026 A target companies have chosen to decision-making is an important content of China's current mergers and acquisitions . In this paper, a combination of theory and practice , theoretical research and case studies , the combination of qualitative and quantitative research methods , trying to learn from the experience and results of mergers and acquisitions at home and abroad , combined with the actual situation of China 's M \u0026 A , select valuation methods , which avoid mergers and acquisitions mistakes, improve the performance of mergers and acquisitions , and to explore the way of China 's M \u0026 A target companies have chosen . This paper describes the paper the origin of the problem , the purpose and significance of the research , the ideas and methods of the study , the main content ; mergers and acquisitions and valuation theory , research status and existing problems , the two typical Valuation Model Description ; build M \u0026 A target companies have chosen to analyze system and general procedures , as well as mergers and acquisitions economic feasibility analysis ; analysis of electrical machinery and equipment manufacturing industry , combined with the characteristics of listed companies , select the folding of the income approach cash flow model as the main method of value assessment . This paper uses a discounted cash flow model, on the the Galaxy acquisition of Long Electric case , M \u0026 A valuation and acquisition feasibility analysis , and the use of the price-earnings ratio of the market approach models were tested . Finally, to sum up , pointed out that the M \u0026 A target companies have chosen to create a system of systems and procedures , the use of the correct valuation methods , Mergers \u0026 Acquisitions and mergers and acquisitions pricing of Chinese enterprises , promote the development of electrical machinery and equipment manufacturing industry is of great significance .

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