Merge And Acquisition Risk Prevention Based On Control Of The Original Major Shareholders Of The Acquired Party

Mergers and acquisitions should be firstly traced back to the 19 th century in Western countries.In the context of economic globalization,the Western countries experienced a world-famous wave of five mergers and acquisitions.Mergers and acquisitions boom let the world Of the company into a new era.With China's national strength gradually increased,the steady growth of the economy,the traditional industries continue to upgrade and upgrade,China's listed companies in domestic and foreign mergers and acquisitions activities active.On the other hand,in 2014 and 2015 the State Council and the Securities and Futures Commission have issued "on the further optimization of corporate mergers and acquisitions market environment," and "listed companies major asset restructuring management approach","listed companies acquisition management approach" and other important documents.These documents further improve the external environment of M & A in our country,the vitality of the market and the reform of M & A.However.In the process of continuous promotion,although the M & A activity has become more frequent,the existence of the risk of mergers and acquisitions can still form a major threat to mergers and acquisitions.Most of the merger is still not successful.We usually focus on the original purchase side,while largely ignored the many factors of the mergers and acquisitions.For enterprises,the corporate governance mechanism is particularly important,and even determine the business life and death.This paper tries to analyze the impact of M & A on the risk of M & A from the perspective of the original corporate governance of the target company and put forward the pertinent suggestions.On the basis of consulting a large number of existing literatures,major shareholder governance theory and M & A theory.This paper analyzes the impact of the original shareholder management on the risk of M & A in the case of CNFC Overseas Fisheries Co.,Ltd.Mergering Xin Yangzhou,then puts forward the countermeasures according to the analysis.Theory and practice.This paper first introduces the concept of the management of major shareholders and the risk of M & A,then defines the related concepts.On the basis of understanding the theory,this paper introduces the relevant situation of the acquisition which leads to the thinking of the management of the original major shareholder and the risk of M & A.Through the analysis of the behavior and motive of the original major shareholder in the risk of mergers and acquisitions,I found that the original major shareholder governance increase the possibility of risk of mergers and acquisitions.This paper summarizes the behavior of large shareholders into three aspects: capital occupation behavior,internal transaction behavior and excessive investment behavior.then I classifies the risk of M & A,mainly including strategic risk,business risk,financial risk and integration risk.The main idea of the study is how the major shareholders bring the corresponding M & A risk through their behavior,what is the type of M & A risk,and what are the causes of the risk,and how to deal with the risk of M & A.This shows that the behavior of the original shareholders of the mergers and acquisitions increases the risk of the enterprise,what questions will be had in the original shareholders of the mergers and acquisitions.Overall,the management of major shareholders increased the risk of mergers and acquisitions,it seriously affect the production and operation of enterprises after the merger.Finally,according to the risk of the original shareholders of the mergers and acquisitions,the paper puts forward some advices of the corporate,the government and the regulatory sector perspective.Through the above research,we expand the research perspective of M & A risk,and take the risk factors of the original shareholders of the target company into consideration,and combine the case to carry on the concrete analysis.As the M & A involves many factors and uncertainties,and my own level is limited,this perspective will continue to widen,while continuing to enrich the risk of M & A related content provides a reference.