A Case Study On M＆A Of Z Company By Y Company

In recent years,In recent years,the state has given more and more support to the environmental protection industry,and the perfection of the national legal system has brought an opportunity for the rapid development of the environmental protection industry.According to the conservative prediction of China’s Environmental Protection Bureau,the GDP of China’s environmental protection industry in 2021 is expected to exceed 9 trillion yuan,and the m＆a of the environmental protection industry in 2020 is 81.054 billion yuan,ranking third in the total industry.It can be seen that the potential benefits of the environmental protection industry are very large.Seeing the huge potential of the environmental protection industry,enterprises in other industries are trying to get a share of the action in the environmental protection industry.In order to achieve rapid development,many environmental protection enterprises choose mergers and acquisitions,which helps to promote the healthy and stable development of the acquirer.The case of Y company acquiring Z Company studied in this paper created the largest m＆a case in the environmental protection industry in China’s history,and this m＆a is also one of the top ten m＆a cases in China in 2018.Based on the research and understanding of relevant theories and according to the specific characteristics of Y company’s environment,this paper conducts case analysis from four dimensions: motivation of MERGER and acquisition,process of merger and acquisition,post-merger integration and the effect of merger and acquisition.Among them,the motivation of m＆a is expounded from two aspects: the motivation of the acquirer and the motivation of the acquirer.In the process of merger and acquisition,company Y solved the problem of insufficient funds by means of payment in batches,on the one hand,avoided the red line of backdoor listing on the other hand,stimulated and constrained the team by high betting,and at the same time,the reduction of goodwill recognized by the two mergers and acquisitions avoided the impact of goodwill impairment on its future earnings.At the same time,summed up the merger strategy,business,human resources integration results.Through this merger,company Y has further improved the financial effect of the acquirer.After the merger,the non-financial effect of company Y,namely,its r＆d strength,core technology competitiveness and market competitiveness,has been enhanced,and a complete industrial chain has been established.On the whole,the acquisition was successful and achieved remarkable results.On the basis of detailed analysis of actual M＆A cases,this paper draws inspiration according to the characteristics of m＆a industry,which can provide reference for other m＆a cases of related enterprises in environmental protection industry.