A Study On The Financial Integration Of Yunnan Coal Enterprises' M & A

Mergers and acquisitions as social reallocation of resources, an important means to improve the efficiency of using resources, its purpose is to pursue the merger creates value, and the realization of such value is achieved through integration. Through integration, optimize the combination and reconstruction of target enterprises, so that the goal of enterprise value to achieve value-added. Thus, M & A integration directly affect the success or failure of M & A, has the very vital significance to the merger and acquisition. In addition, because of the financial integration after the merger integration is an important link in the management; it not only occupies an important position but also directly affects the performance of mergers and acquisitions in the integration management. Therefore, in the enterprise merger and acquisition, financial integration has played a very important role,Yunnan province is located in the southwest of China, is an important coal producing region in China, one of the economic development of Yunnan province coal is also the relationship of the important strategic resources. Yunnan province has abundant coal resources, coal resources: class is complete but not balanced geographical distribution of resources reserves, uneven, tectonic type diversity, deposit scale small, basic economic reserve less, high sulfur, high ash coal in partial multiple, low degree of prospecting characteristics. Long term since, the development of coal resources in Yunnan Province, the overall low level of intensive, low rate of comprehensive utilization, waste of resources and serious environmental pollution, production safety situation is grim. On the one hand, rich in coal resources, the distribution of productive forces on the other hand, the coal industry of small, weak, scattered, chaotic, small coal mines to support large power plants, big chemical industry situation, cannot adapt to the requirements of the social economic development of Yunnan province. To this end, the Yunnan provincial government to vigorously promote the integration of coal resources, promoting various coal enterprise merger and reorganization, strengthen macro-control of the coal resource allocation. This is not only to implement the Scientific Outlook on Development, also is the inevitable requirement to achieve sustainable economic and social development of Yunnan province. Through integration, elements of rational allocation of resources, market, talent, capital, technology, fully mobilize the enthusiasm of all aspects of the coal industry, to increase investment, conducive to continuously improve the coal industry concentration and the efficiency, extend the coal industry chain, improve the coal value-added products, to achieve comprehensive development and the rational use of resources, to promote safe production, Yunnan coal industry bigger and stronger.This paper is the basis of the integration of the relevant theory in the study of financial elaborated on the situation of Yunnan coal enterprise mergers and acquisitions after the financial integration process, combined with the situation of the coal industry and coal enterprises in Yunnan Province, the financial integration after M & A, summed up the deposit in the financial integration of Yunnan coal enterprises in the problems and proposes some suggestions on the integration, finally the cloud coal energy the acquisition of Shizong four mines were specific case analysis. Through the analysis of financial M & A integration of coal enterprise, can sum up historical experience and lessons and effective, which provides a reference for the coal enterprises in Yunnan Province, the next step to carry out the work of M & A. In today’s wave of mergers and acquisitions of enterprises in Yunnan coal, the mergers and acquisitions of financial integration has practical significance to study.