Research On The Performance Of BS's Merger And Acquisition Of WH Company

China's iron and steel industry has been booming with an unprecedented scale.Its steel output ranks first in the world.Behind the scenes,there are also many problems such as steel overcapacity,backward production technology,low added value of products,unqualified environmental protection,etc.In recent years,the domestic manufacturing industry has suffered severe winter,and the steel industry has also suffered heavy losses.In addition,the domestic smog control has become increasingly severe,and the steel industry has launched a new round of resource integration.This article will take the case of BS Company merging WH Company as the research object,analyze the motivation and influence of merger and acquisition,and draw personal suggestions and conclusions.The first chapter of this paper expounds the research background,content and significance of this paper,reviews and evaluates the relevant literature of M&A theory and case studies at home and abroad,and expounds the research methods and ideas of this paper.The second chapter introduces the concept and types of M&A,lists the related theories of M&A,and describes the M&A performance evaluation methods mainly used in this paper.The third chapter summarizes the basic situation of both parties,describes the development status of domestic iron and steel industry,and determines the main motivation of BS company to acquire WH company according to the characteristics of internal and external environment.The fourth chapter analyzes the short-term changes of the company's value before and after the announcement by using the event research method,processes and analyzes the financial data before and after the merger and acquisition by using thefinancial index method and the economic added value method,and evaluates other impacts of the merger and acquisition by using the non-financial index analysis method.The fifth chapter expounds the relevant enlightenment brought by M&A cases,and puts forward countermeasures and suggestions on how to improve the M&A performance of domestic steel enterprises from the perspectives of enterprise strategy,resource integration and technological innovation.The sixth chapter is the conclusion and prospect of this paper.The research conclusion of this paper shows that after acquiring WH Company,BS Company has not only effectively improved its own operating performance and cooperative production capacity,but also promoted the integration of domestic steel industry,improved the market competitiveness and technological innovation capacity of enterprises,created the premise for further promoting product upgrading and implementing green production,and provided certain reference value for other steel enterprises' acquisition.