Study Of China's Private Enterprises In Mergers And Acquisitions Of State-owned Enterprises

Merger & Acquisition is not only the central issue in our present economy, but also the major realistic problem of state-owned enterprises reform and national economy. Merger and annexation plays an important role in vitalizing the national stock capital, realizing the low-cost enlargement for advantageous enterprises, and motivating the modification for social economic structure, industrial structure and product structure.With the further advance of economic system reform, our country's attitude to private economy has undergone a process from acceptance to approval, and to support. In this way, private economy has got great development. Meanwhile, state-owned enterprise reform quickens its pace and government proposes the policy of "managing the big, liberating the small" and "forming large enterprise group".With combination the above aspects, there are many personal representatives in private sector who take part in state-owned enterprise reform, merging some state-owned enterprises, especially some middle-sized and small enterprises.However, lacking the whole systematic operating procedures and the guiding thoughts, many private entrepreneurs have endured an arduous way. Thus, some puzzles arose and the merger failed.The enterprise M&A includes: the choice of the target enterprise before M&A. the process of concrete implement and also the integration after M&A.A few links are usually complement to each other. The research purpose of this paper is to find out how can the private-enterprises merger the state-owned enterprises successfully. This paper put emphasis on the value assessment of goal enterprise,how to choose the best goal enterprise to merger and acquisition when the private enterprise faces multi-enterprise,how to realize the effective conformity after M&A and the other related question. On the foundation of question researched, Pointed out some problems of enterprises operation and management when the private-owned enterprise was merging the state-owned enterprise and finished, and put forward countermeasure about the problems combining with the speculative knowledge of M&A, expects to provide use for reference for private-owned enterprises merger state-owned enterprise.