企业并购中目标企业选择解读.doc

企业并购中目标企业选择研究 PAGE PAGE 2 摘要 并购是企业发展的重要方式，在现代企业的发展中有着举足轻重的地位。企业并购中目标企业的选择是企业并购的关键环节，研究企业并购中目标企业的选择具有重要的理论意义和实践价值。正确的目标等于成功的一半，这在企业并购中也不例外。但是，近百年来的企业历程显示：很多失败的并购都是因为并购企业在一开始就犯了一个致命的错误，即选择了不该选择的目标企业。企业如何走好关键的第一步，正确地选择最优目标企业，就成了本文研究的重点。本文从理论和实践两个方面分析了企业并购中目标企业选择上存在的问题，并对这些问题的原因做了深入分析。在此基础上，本文研究了企业并购中目标企业选择的程序和方法，提出目标企业选择的具体过程，即明确并购企业整体发展战略——并购企业自身发展状况分析——根据企业发展战略制定目标企业选择标准——目标企业的搜索——目标企业初选——目标企业价值评估——对目标企业进行谨慎性调查——建立指标体系对备选目标企业进行评价，选择合适的目标企业。 关键词：企业，并购，目标企业，选择，分析； Abstract M A is an important way the development of enterprises in the development of modern enterprise has a significant place. M A business in target selection is the key to mergers and acquisitions, mergers and acquisitions in the target company of choice has important theoretical and practical value. Correct target is half that in M ?? A is no exception. However, the enterprise over the past century History shows: a lot of mergers and acquisitions fail because of mergers and acquisitions business in the beginning, made a fatal mistake, choose a target company should not be selected. How to Take the critical first step in business, the right to choose the best target company to become the focus of this study. From the theoretical and practical aspects of mergers and acquisitions in the goal of the problems in business to choose, and the reasons for these problems to do in-depth analysis. On this basis, we study the target companies choose M A procedures and methods, the target company made the specific process of selection, that is clearly their overall development strategy of mergers and acquisitions - M A analysis of the development of their own - to set goals based on enterprise development strategy Enterprise selection criteria - target enterprise search - target enterprise primaries - Target Business Valuation - cautious on the target enterprise survey - the alternative index system to evaluate the target company, choose a suitable target company. Keywords: business, mergers and acquisitions,