The Enterprise's Mergers & Acquisitions Under The Information Dissymmetry Condition

Under the today's economic globalization condition, the Mergers & Acquisitions between the enterprises have already headed from the domestic to abroad, and all kinds of information are full of the process of M&A which make it becomes more difficult. In This text I began form the case of the company X buy company Y also to analyze the valid means of M&A under the condition of information dissymmetry. In the process of M&A the target enterprise conceals disadvantageous information as far as possible, but the counterpart company need to control more information to judge whether it is profit ,the price is reasonable, and it suits for the enterprise's development. The above request the counterpart company should adopt right measures to lower the degree of the information dissymmetry and rightly estimate the target enterprise's M&A value. This text begins from the information dissymmetry theories to wish this article can give readers a deeper comprehension of behind part. At the same time I analyzed the our country enterprise's M&A under the information dissymmetry condition to provide a direction for information search whose function is focus on deleting the degree of information dissymmetry and make the counterpart company learn more about target enterprise. The concrete method is to strengthen the absolute inquisition before M&A, to do well the information analysis and handling, to dissect the target enterprise step by step, to increase the positive power of counterpart in negotiation so that it can fulfill the M&A with a equal or a profit price. Finally I give a theoretical model to decide the best M&Aprice with game method under the information dissymmetry condition and provide a good sample for deciding the target enterprise 's value.