Study On Performance Evaluation Of X Company's Series Of Merger And Acquisition Events

With the development of enterprises,companies will continue to pursue the expansion of scale,so with the development of economy,the phenomenon of enterprise mergers and acquisitions is common.However,mergers and acquisitions do not always bring positive benefits to enterprises,and there will be cases of failed mergers and acquisitions in all walks of life.In the study of the success of each merger and acquisition case,we usually analyze the financial performance of the enterprise after the merger and acquisition,summarize the possible problems and causes in the failed merger and acquisition,or summarize the experience of successful case,so as to provide reference for other domestic enterprises in the cross-industry merger and acquisition.In the case,X Company is a private resource-based enterprise,and its business scope is to explore and develop non-ferrous metals.This paper takes X Company as the research object,analyzes a series of M&A events and subsequent financial performance of X Company,and evaluates the M&A performance of X Company.First of all,the literature at home and abroad is sorted for reference,and the viewpoints of domestic and foreign scholars on M&A performance and the evaluation of domestic and foreign scholars on the research methods of financial performance are analyzed.And then the related concepts and theoretical basis involved in this paper are summarized.Next,it introduces the basic situation of the two parties of the merger case,the merger motivation of X Company and the main process of the case.Secondly,this paper first uses the event study method to analyze the short-term performance of X Company's merger and acquisition event,and finds that although the merger brings some short-term benefits to X Company,the market investors are still skeptical about the future development of X Company.After the event study method,this paper adjusted the accounting items according to the financial statements of X Company before and after the merger,and used the financial index method and the economic value added method to compare and evaluate the long-term performance of X Company after the merger event.Finally,according to the analysis of the calculation results,it is concluded that X Company has many problems in the merger and acquisition event,leading to the decline of the overall profitability of X Company after the merger and acquisition.At the end of the paper,the reasons for the failure are summarized according to X Company's M&A payment method and post-M&A operation process,and corresponding countermeasures and suggestions are proposed.This paper analyzes X Company's cross-industry mergers and acquisitions,hoping to provide a useful reference for the subsequent mergers and acquisitions of new energy enterprises.