Exploration On The Payment Manner And Financing In Enterprise M&A

M&A (mergers and acquisitions) is a market economy activity and an effective means to optimize resources allocation. With the global economic integration, the competition is aggravated. For the purpose of surviving in the sea of international competition, we should continue to probe its theories and practices. This thesis tries to discourses M&A about financial issue: the payment and the financing.Part1: This part makes an explanation of some basic concepts of M&A. The article firstly introduces the definition, the history and the significance of M&A. At last, theanother point out the issue--payment manners and financing, and it has deep realisticsignificance to study the two problems.Part2: After the purchaser has made the decision to M&A its goal company, it becomes a very important question that which payment manners should be adopted to gain that company's assets or stocks. Different M&A payment manner has different influence on the finance. Whether the payment tool adopted is appropriate, not only influences the implement of incorporation strategy, but also displays different values of M&A information, Which will further influence the operation of M&A markets and even determine the final result of M&A.transactions. In general, there are following payment manners of M&A: cash payment manner, stock payment manner and integrative securities payment manner. Cash payment manner is the main payment manner Due to the limit of China laws and financial markets condition.Part 3. This part firstly introduces the mode and character of financing in western M&A and then analyzes the present of Chinese enterprises M&A. Finally, the article put forward some advice to develop Chinese M&A. Chinese enterprises have very little chances to choose practical financing ways, because China started market economy lately and had relatively backward financial tools. On another occasion, the development of Chinese capital market now is imperfect, and there are still many problems in financing mode that can be adopted in the M&A, which limit the action of M&A., so we need to develop the function of capital market and grow the advanced financial tools.