Motivation And Performance Analysis Of Enterprise Merger And Acquisition

For enterprises,to achieve their own rapid development,M&A is a good way,but also a good way of capital operation.In recent years,more and more enterprises have achieved their own expansion by means of merger and acquisition.In theory,M&A can make the enterprise optimize the allocation of resources,reduce the cost and risk.But in reality,M&A has two sides for enterprises.On the one hand,successful mergers and acquisitions may optimize the allocation of resources and promote the development of enterprises.On the other hand,the failed merger and acquisition can not achieve the purpose of the merger and acquisition of the enterprise.It has no effect on the development of the enterprise,and may even impede the development of the enterprise.There are various criteria for evaluating the M&A behavior of an enterprise.In reality,a lot of research is done to evaluate the effect of M&A by evaluating the performance of M&A.There are many kinds of evaluation methods of M&A performance,the most used is the traditional financial index method.This method is more intuitive,but it is one-sided,it can not reflect the shareholder value,and does not realize the comprehensive consideration of financial indicators.EVA(economic value added)method is a good remedy for this defect,more comprehensive than the financial index method,and the evaluation of M&A performance it can be closer to the real situation of the enterprise.This paper studies the case of cofco's acquisition of mengniu dairy,which mainly studies its merger motivation and performance.First of all,the paper introduces the basic situation of the m&a case and expounds the background and process of m&a.Secondly,the reasons for m&a are analyzed.Then,the combination of financial index analysis and EVA index analysis is used to study the m&a performance.Finally,the paper summarizes the case analysis conclusion and puts forward some countermeasures to improve the m&a performance.Paper also through the comparison of two methods of analysis of financial indicators analysis combined with EVA index analysis method to stand in the perspective of a more comprehensive to consider the question,the specific indicators can be deeper analysis,make the performance evaluation results are more effective.The paper adopts the m&a performance analysis method and the proposed measures to improve the m&a performance,which can be used for reference for the relevant enterprises.