Research On The Valuation Risk Of High-tech Enterprise Mergers And Acquisitions

In recent years,state's economic development trend is transforming from high speed to high quality.In response to the requirements of the transformation of national industrial structure,enterprises began to enhance the synergistic effect and core competitiveness through mergers and acquisitions(M&A)to achieve rapid development in the new era.Whether these enterprises can successfully carry out these activities largely depends on to what degree they can be reasonably evaluated.This thesis analyzes the case of Giga Device merge Silead which is a typical case of M&A of high-tech enterprises.By describing the background,process and valuation of M&A,this paper analyzes and summarizes the main types of valuation risk faced by high-tech enterprises in the process of M&A,explains the causes and impact of the emergence,and finally puts forward preventive measures for each risk.Based on the case study of Giga Device merge Silead,this paper analyzes the valuation process and valuation risk and tries to learn from the experience to find out the effective methods to prevent valuation risk.This paper is divided into six parts:the first part is the introduction introduces the research background,main content and research method of this paper;the second part is the definition and theoretical basis of related concepts;The third part mainly introduces the general situation of two companies.The fourth part mainly analyzes valuation risk from three aspects.Then the fifth chapter puts forward the preventive measures from three aspects.The sixth part is the conclusion of this case,summarizes the drawback of case study,and puts forward the prospect of future research.