Research On Risk Control Of Horizontal Merger And Acquisition Of A Gas Group Company

With the intensification of competition in the domestic urban gas industry,M & A among urban gas enterprises will be inevitable.Therefore,the retrospective research on how a single urban gas enterprise carries out effective risk control in this process is more worthy of popularization and reference.Many domestic and foreign scholars have discussed the elements of M & A risk.Scholars at home and abroad have studied the M & A model,M&A process and M & A objects respectively.Most of them summarize the key elements of M & A risk control through the analysis and research of empirical data of many enterprises,and draw the matters needing attention in M & A risk identification,analysis and prevention.By combing the literature,we find that up to now,there is no case study of risk identification,analysis and prevention in the horizontal M & A process of a single urban gas group enterprise by using fuzzy analytic hierarchy process and financial performance analysis at the same time.Combined with the specific characteristics of companies A and B and the special situation of this case,this paper expounds the M & A risks of horizontal M & A of company a gas group and company B gas company into pre M & A,M & A and post M & A.Through the identification and analysis of risks,the possible effective measures to prevent risks are obtained.M & A risks among urban gas enterprises mainly include strategy formulation risks,risks in the process of M & A transactions,integration risks after M & A and other risks.The control of M & A risk is completed dynamically and runs through the whole process.Before M & A,urban gas companies should pay attention to the prevention of strategic risk,make decision analysis and system risk evaluation;In the process of M & A transactions,we should pay attention to preventing and resolving the risks of M & A transactions.Enterprises mainly need to prevent and resolve the possible M & A negotiation risks,the anti M & A risks of target enterprises and the risks in the process of signing contracts with target enterprises;After the completion of M & A transactions,enterprises should do a good job in the in-depth integration of personnel management,production and operation and corporate culture of the target enterprises,and timely conduct post evaluation and analysis of M & A projects.