1. In the decision-making stage of M&A, enterprises cooperate with financial consultants to determine their own position according to their own industry conditions, their own assets, operating conditions and development strategies, thus forming the M&A strategy. That is, the demand analysis of M&A, the characteristic mode of M&A target, the choice and arrangement of M&A direction.
2. Qualitative selection model of M&A target selection: compare the asset quality, scale, product brand, economic location, market, region and production level of the target company with this company, and analyze the reliability of the target company from the available information channels to avoid falling into the M&A trap. Quantitative selection model: through the full collection and arrangement of enterprise information data, the target enterprise is finally determined by static analysis, ROI analysis, logit, probit, BC (binary classification) and other methods.
3.M&A Opportunity Through continuous attention to the target enterprise and information accumulation, the M&A opportunity of the target enterprise is predicted, and the preliminary feasibility analysis is carried out by using a fixed and quantitative model, and finally the suitable enterprise and the suitable opportunity are determined.
4. According to the characteristics of capital structure and political system of enterprises in China, M&A's initial job is to communicate with the local government and get support, which is very important for a successful low-cost acquisition. Of course, if it is a private enterprise, the influence of the government will be much smaller. It is necessary to conduct an in-depth review of enterprises, including investigation and research in production and operation, finance, taxation, guarantee and litigation.
5. During the M&A implementation stage, negotiate with the target enterprise to determine the M&A mode, pricing mode and payment method (cash, liabilities, assets, equity, etc.). ) and the production of legal documents, as well as the personnel arrangement of the enterprise management and the solution of the original employees after determining M&A. Until the equity transfer, payment and transaction are completed.
6. Integrated M&A For enterprises, it is far from enough to only realize the M&A of enterprises. Finally, successfully integrate and fully mobilize the resources of the target enterprise, resulting in expected benefits.
The key factors are:
(1) Construction of industrial chain;
(2) Innovation of financing tools;
(3) the choice of payment method.