The Choice Of The Target Business Enterprise In Conglomerate Combinations

Conglomerate combinations are an important path of business enterprise diversified strategy with widely accepted abroad in 50-60's. It's appeared and Chinese company used it to expansion profession in China since the mid 80's. Conglomerate combinations have become one of the main ways that the internal business enterprise carries out the asset-recombination.The foreign case of M&A show: Conglomerate combinations usually take place after the business enterprise experience Horizontal combinations and Vertical combinations. The business enterprise has already become strong and competitive at this time, the conformable industry with the upper and lower reaches can make the business cost lower, the profession position firmer, the manage ability of the business enterprise has already become also expands to other related professions easily.The develop strategy of GuiZhou Jin Yuan group includes enter new technique industry and diversified profession of development. According to the whole development condition of GuiZhou province and the characteristics of the enriched biomass, GuiZhou JinYuan group decision invests the pharmaceutical industry in GuiZhou province. The concrete strategic step is M&A one or more pharmaceutical company who have already passed the identification of GMP, combine the technique advantage of the target company with the funds advantage of GuiZhou JinYuan group, in order to complete development strategy of Guizhou JinYuan group. This master's thesis selects the GuiZhou JinYuan group mergers & acquisitions the pharmaceutical company for cases, analyzing how to select the target business enterprise in conglomerate combinations.