Successful Mergers and Acquisitions: Target Company Selection

Author: Qin Xijie
Publisher:
Publish Date: 2004-12-01
Features: This book applies modern analytical tools such as game theory, decision theory, and information economics, with the acquisition and revelation of information as the main thread. It establishes a systematic research and analysis model for the entire target company selection process, from setting selection criteria for target companies at a strategic level to information search and screening, and ultimately to the strategic behavior and win-win negotiation of target companies. This book conducts an in-depth and pioneering research on how to select target companies, fills a significant gap in the research of mergers and acquisitions theory, and holds important guiding significance for practice. The book points out that from the perspective of the behavior of the merger and acquisition parties, the systematic process of target company selection is a game of mutual decisions between the two parties. From the perspective of information utilization, the target company selection process is a three-stage process: search, screening, and game. The book contains numerous real-world cases and documentary materials, making it highly practical. The book argues that mergers and acquisitions are a cooperative game, and target companies are not passive or inactive in the process. To talk about mergers and acquisitions without searching for target companies is like building castles in the air. Mergers and acquisitions are essentially about selecting target companies. By applying the target company selection model proposed in this book to mergers and acquisitions investments, both parties can achieve a win-win outcome, the acquiring company can improve the success rate of its mergers and acquisitions, effectively avoid pitfalls, and thus achieve leapfrog development. The book is well-structured, with fluent language and a harmonious blend of theory and practice. It is suitable as a textbook for postgraduate and undergraduate students in economics and management disciplines in higher education institutions. It is also a must-have for researchers in mergers and acquisitions theory and practitioners in the field. Additionally, it can serve as training material for corporate management teams, vocational and technical education personnel, and individuals in various fields who wish to engage in capital operations.