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set restructuring .

June 1998 , North China Pharmaceutical cost only 17 million yuan Taiyuan pharmaceutical mergers 100t cephalosporin the 5th annual production lines , while the new one the same production lines need to invest 50 million yuan ; thirty-nine Pharmaceutical Group to 5,000,000 yuan merger Ya'an pharmaceutical factory , the plant prior to the merger amounted to only 1.5 million yuan annual profit , the plant's products to enter the post-merger Sanjiu Group 's sales network , sales increased significantly , so that profits soared to 15 million yuan , a truly low-cost and high efficiency.

From the current situation, mergers and acquisitions mainly in the form of the following forms:
(l) according to business buyers and sellers of business products and market relations can be divided into :
① horizontal mergers ( horizontal merger ) , referring to the same product in the same industry or between enterprises mergers and acquisitions. Its purpose is to expand the scale of production, control or influence of similar products in the market , help to achieve economies of scale and industry concentration .
② vertical mergers ( vertical merger ) , according to industry related degree , backward acquisition of raw materials manufacturers or suppliers to ensure supply of raw materials ; forward merger products vendors and device manufacturers, open up sales channels .
③ expand product categories of mergers and acquisitions, means living with a stand or sales contact , but no direct competition between enterprises mergers and acquisitions.
④ expand the market of mergers and acquisitions , referring to the same product , but the product in different regions of the two companies on the market of mergers and acquisitions .
⑤ mixed mergers and acquisitions, corporate products and the market is no connection mergers and acquisitions, in order to achieve diversified development strategy .
( 2 ) mergers and acquisitions by using different methods can be divided into four types:
① assumed debt M & A : the acquirer to assume corporate debt and other forms of acceptance of its assets ;
② buy M & A , that is based on the assessment of the net assets , purchased by the acquiring party down , and to assume its debts .
③ stake in M & A , that the owner of the target company 's net assets in corporate shares, corporate mergers and acquisitions to become a shareholder.
④ holding M & A , that a firm 's equity through the purchase of other companies , to holding achieve acquisitions.

( 3 ) asset restructuring of listed companies by means of implementation is divided into:
① market acquisitions : the acquirer in the secondary market acquisitions of listed companies tradable shares , access control t . Implementation of market acquisition is conditional share capital of a listed company intends to acquire all of the outstanding shares , or a majority of the outstanding shares . This is because the company's shares and shareholders of such scattered and mostly by minority shareholders , the acquisition directly in the secondary market can be relatively quickly raise stake to take control in a relatively short period of time , as long as the acquirer acquired on the secondary market 5% -30 % of the shares , will be able to achieve the purpose of holding . Market acquisitions drawback is , ① action will cause the acqui本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。