This article LTG
GoldRock will share with you the form of corporate mergers and acquisitions ~
A corporate merger and acquisition can be divided from the perspective of the industry, which can be divided into the following three categories:
1. Horizontal mergers and acquisitions.Horizontal mergers and acquisitions refer to mergers and acquisitions between companies that belong to an industry or industry, or products in the same market.Horizontal mergers and acquisitions can expand the production scale of similar products, reduce production costs, eliminate competition, and increase market share.
2. Vertical mergers and acquisitions.Vertical mergers and acquisitions refer to mergers and acquisitions between companies that are closely related to the production process or business links.Vertical mergers and acquisitions can accelerate the production process and save the costs of transportation and warehousing.
3. Mixed purchase.Hybrid and acquisition refers to the mergers and acquisitions between companies that produce and operate products or services that are not associated with each other.The main purpose of mixed and acquisition is to disperse operating risks and improve the market adaptability of the enterprise.
Second, the payment method of corporate mergers and acquisitions can be divided into the following methods: M & A:
1. Use cash to buy assets.It refers to the most assets or all assets of the M & A company using the current purchase target company to achieve control of the target company.
2. Buy stocks with cash.It refers to the majority or stock of the M & A company to purchase the target company to achieve control of the target company.
3. Buy assets with stocks.It refers to most or all assets of the M & A company issued M & A companies to the target company to exchange target companies.
4. Use stocks to exchange stocks.This method of mergers and acquisitions is also called "stock exchange".Generally, the shareholders of the M & A company issued shares directly to the target company to exchange most or all stocks of the target company, which usually reaches the number of shares of the holding.Through this form of mergers and acquisitions, the target company often becomes a subsidiary of the M & A company.
5. Credit -to -equity method.M & A of debt -to -equity enterprises refers to the largest creditors who turn their creditor's rights into investment when the company's weakness returns debt, thereby obtaining the control of the enterprise.Most of the companies controlled by China Financial Asset Management Corporation came from debt -to -equity swaps. Asset management companies carried out phased shares, and eventually realized the equity transfer held.
6. Indirect control.Mainly strategic investors have indirectly obtained the control of listed companies by direct mergers and acquisitions of listed companies.For example, Beijing Wanhui Pharmaceutical Group has merged the largest shareholder of Shuanghe Pharmaceutical, Beijing Pharmaceutical Factory, which holds 175.24 million shares of Shuanghe Pharmaceuticals, accounting for 57.33%of the total share capital of Shuanghe Pharmaceuticals, becoming Shuangzhong, becoming ShuangzhongThe largest shareholder of Crane Pharmaceutical.
7. Debt -type mergers and acquisitions.It refers to the control of the target enterprise in the way that the M & A enterprise is fully undertaken by the debt and debt of the target enterprise.Most of these target companies are non -debt debts. After the acquisition of mergers and acquisitions, it is injected into mobile assets or high -quality assets to make companies turn losses into profits.
8. Dial for free.It refers to the act of allocating the state -owned shares directly between the state -owned shares as a state -owned shares as a state -owned shares.It helps reduce the internal competition of state -owned enterprises and form a large company with international competitiveness.With a strong government color.Such as the national stock of FAW M & A.
Three from the behavior of mergers and acquisitions companies can be divided into goodwill mergers and acquisitions and hostile mergers.Good -faith mergers and acquisitions mainly formulate mergers and acquisitions agreements through friendly negotiations between the two parties.Hostile mergers and acquisitions refer to the secret acquisition of target companies' stocks in the secret acquisition of the acquisition enterprise. Finally, the target enterprise has to accept the sales conditions to achieve the transfer of control.
