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As the result of the worsening European debt crisis and the stagnant economy of many developed countries, many small and medium-sized enterprises are confronted with the tightening capital chain and the sluggish growth of performance, thus giving the Chinese enterprises rare opportunities to merge other enterprises. Under the general background of the structural adjustment of the domestic economy and the upgrading consumption, the merger and acquisition market in China is gaining momentum. Many enterprises complete the industrial chain, expand the market share and enhance their competitiveness through horizontal and longitudinal merger. The merging of enterprise is an inevitable result of the development of market economy, and an economic behavior of transferring property between enterprises. In the process of merging, the enterprise value evaluation is the essence of mergers and acquisitions. To measure the value of the enterprise reasonably, the difficult part is to choose an appropriate evaluation approach.由于欧债危机恶化，许多发达国家经济停滞不前的结果，许多小型和中型的企业都面临着紧缩的资金链和低迷的业绩增长，从而使中国企业难得的机遇，其他企业合并。在国内经济结构调整和消费升级的大背景下，中国并购市场正蓄势待发。许多企业完成了产业链，扩大市场份额，增强自身的竞争力，通过横向和纵向兼并。市场经济的发展，企业之间转让财产的一种经济行为，企业合并是必然的结果。在合并的过程中，企业价值评估的本质是兼并和收购。为了合理衡量企业价值的，困难的部分是选择一个合适的评估方法。

The dissertation discusses the merger and acquisition by case study of Anshan Yongxin Environmental Professional Corporation and Dale steel forging factory. The corporate valuation in the combination is highlighted in the process of this research.

Chapter one Introduction and research design第一章介绍和研究设计
1.1研究的一般概述
随着信息往往是不对称的合并，同一资产的评估，双方的交易很可能有很大差异。合并认为购买价过高，而合并后认为售价过低，从而产生矛盾。正因为如此，评价企业合理的交易中成为焦点，也是我的研究目标：如何选择合适的方法来评估一个企业。这里已反映公允价值的重要性。一般来说，双方的贸易将选择适当的资产评估方法，关于贸易的基础上的公允价值。因此，公允价值亦于业务合并中起着重要的作用，因为它可以表明哪种评价方法是更合适的。
1.1 General overview of study
As the information is often asymmetric in merging, the evaluations of the same asset from the two sides of the transaction are very likely to diverge greatly. The merger thinks that the purchase price is too high, while the merged thinks that the selling price is too low, thus producing the contradiction. Because of that, to evaluate the enterprise reasonably becomes the focal point of the transaction, and also my research goal: how to choose the suitable method to evaluate an enterprise. The importance of fair value has been reflected here. Generally, both parties of trade will choose a proper assets evaluation method regarding fair value as trade basis. Therefore, fair value also plays an important role in business combination as it can indicate which kind of evaluation method is more proper.

1.2 The problem statement

1.3 Research objectives
1.4 The research object
1.5 The purpose and significance of the study
1.6 Research questions
1.7 Scope and limitation of the study
Chapter two Theoretical framework
2.1 Introduction
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2.4 Summary
Chapter three Empirical framework

3.1 Introduction
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3.4 Summary
Chapter four Finding
4.1 Introduction
..................Chapter Five Summary, conclusion and recommendation
5.1 Introduction
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5.5 Suggestions to the management

Bibliography