The Case Studies On The Merger And Acquisition Between Comtech & Emdoor

In the market economy, mergers and acquisitions are an important means of business expansion. Through mergers and acquisitions, companies can rapidly expand the scale and improve competitiveness, optimizing resource allocation. With the constant development of market economy, M & A activity between enterprises are increasingly frequent and active. And more and more theoretical and academic research are focausing on M & A . However, to do more research on the related understanding, we would find that the most objects of those research and subjects are large enterprises in the merger or other reorganization action, especially in listed companies or the state-owned enterprises act. In fact, in the market environment, there is a much larger number of small and medium enterprises, and they are also very active in mergers and acquisitions directly, and because the management system and financial system of SMEs are not very standardized, so merger process, the value of assessment and implementation are much more complexity and uncertainty, so the acquisition of such research is very valuable and meaningful. Therefore, the paper on small and medium enterprises selected for the study of the acquisition, through a really the case, the general course of such acquisition may encounter the key problem and difficult to analyze and study, a similar attempt by the research company M & A (in particular cases involving small and medium sized technology trading enterprises) are reference and reference.First, the paper industry enterprises with the current mainstream M & A research on the motives for M & A process, valuation and payment of the three key issues set for the follow-up analysis of actual cases to provide the necessary theoretical groundwork and analysis tool.Secondly, the article has represented the industry background and the basic situation of the company described: Comtech and Emdoor, and stated the merger between the two companies and the business process, from how the intent of the acquisition were produced between these two companies, and the two sides due to the acquisition of some of the great differences on key issues and differences which led to the failure of the entire acquisition process ultimately. Finally, as the article's main thesis,based on the acquisition process, it has done some detailed anlysis of some key problem areas. And the author is using the theory and analysis tools which be present in the first part of this paper to anlysis the process of this case in three aspects: the production of the intents of M & A , the value of M & A target evaluation and confirmation of payment. And try to find out the main reasons which result the failure of M & A, and refined and summarized these reasons which may provide a reference for similar acquisitions and guidelines in the future.