Targeted Enterprise Selection In Real Estate Industry M&A Of China Under The Background Of Property Market Regulation

A new round of property market regulation from2010has a great impact on the real estate market, and the number of mergers and acquisitions of the real estate industry increased rapidly. Since real estate mergers involve large amount and influence widely, the correct choice of an appropriate target enterprise in M&A is important to success.The first chapter introduces the background and significance of the study and defines the related concepts, and provides theoretical support for the research framework of the choice of target enterprise in real estate mergers with the Capital Concentration Theory, Efficiency Theory. The second chapter summarizes the general situation and characteristics of this new merge wave in real estate industry, then points out the common problems in the real estate M&As such as the acquisition strategy is not clear, the choice of target company is not scientific,etc. In view of the above problems, constructs the research framework of targeted enterprise selection in real estate industry M&A. The third and the fourth chapter is the main part of this paper. The third chapter is the preparation of the fourth chapter, according to the thorough analysis of acquiring firms and actual demand of acquiring firms to reducing search scope of target enterprise. Through the external environment and internal resources analysis to ensure that the merger intentions of acquiring firms to meet the development strategy of enterprise and the specific target. Then through the enterprise growth stages analysis accurate positioning the M&A strategy, definite the merge path and implementation procedure of target enterprise. The fourth chapter bases on the specific principles, processes and evaluation index of target enterprises selection to optimize the process, make it more conducive for acquiring firms to saving time and cost.Then through the specific M&A case of LanGuang-BaiYao to make an empirical test on the set theory. It is concluded that the m&a efficiency is positive effect, verified the applicability of the theory and helps to provide reference and technical support for similar real estate m&a works. The fifth chapter puts forward the corresponding countermeasures and suggestions to ensure the smooth operation of the research content.Thus, in the process of real estate enterprises to choose m&a target enterprise shall be based on the development strategy of the enterprise and based on the "enterprise strategy-resources matching" theory and model, analyse the M&A strategic positioning, adopt scientific and reasonable process of mergers and acquisitions, use the " growth stage-development strategy matrix "based on STP, clear the M&A path of target enterprise, will help the acquiring firms save time and cost, improve the success rate of M&A, and improve the fusion degree after M&A.