摘  要：企业并购可以分为兼并和收购，主要存在于企业之间，是指企业法人要在双方公平并且彼此都同意的情况下采取有关经济手段获得其他法人产权的行为，是企业转移权利和互相交易的重要方式，这样现代企业的成长才能更加的迅速。相比较于企业通过积累经验提高自身素质的传统扩张方式，企业并购具有更大的优势。通过企业并购，可以更迅速的扩大企业规模，让各方面都做到协调统一，这样能使企业享受到规模经济带来的益处。根据材料体现，我国现在在并购的数量方面还是有很大成就的，目前处于亚洲并购市场的第三位，因此，本文就以湖北宜化收购鹿台山煤业51%股权为例，研究企业的背景和并购的现状，分析企业并购的目的和意义；同时，也要根据现状找出并购中面临的风险和存在的问题，通过分析问题得出相应的对策和结论，更好的规避并购所面临的风险，为以后其他企业的并购活动做一个很好的参考和示范。57802

毕业论文关键词：企业并购，案例研究，风险，解决方案

Abstract: Enterprise merger and acquisition is pided into annex and buy, it excite between the company, and is refer to the enterprise legal persons have a economic method and voluntary equality to economic means to get other legal person property rights, is an important solution to transfer the rights and trade with each other, so that the modern company grow more rapidly. Compared with the traditional enterprise way to improve their quality by way of expansion, enterprise merger and acquisition has more benefit. Through it can expand scale fast, coordinate any aspects, it can bring the company to enjoy the profit of scale economy. Based on the data, now China is the third ranking in Asian market, it is very significant, therefore, we will takes Hubei Yihua denounced billion acquisition of deer 51% equity interest in Lutaishan as an example, research the current states of company, analysis the meaning and aim of enterprise merger and acquisition. At the same time, finding the risk and problem in it, by the means of conclusion and plot analysis, to prevent risk better, making a good reference to other enterprise merger and acquisition.

Keywords: enterprise merger and acquisition, case studies, risk, solution

目  录

1  引言 4

2  企业并购的概述 4

2.1  企业并购的含义 4

2.2  企业并购的类型 4

2.3  企业并购的理论 5

2.4  企业并购的现状、流程和特点 6

3  湖北宜化收购鹿台山煤业51%股权分析 7

3.1  行业背景 7

3.2  公司背景 7

3.3  并购的过程 8

3.4  动因分析 9

3.5  分析此次并购的风险 9

3.6  评价此次并购的结果 10

4  企业并购面临的风险分析 12

4.1  并购风险收益规律 13

4.2  并购风险传递规律 13

4.3  并购信息不确定的递减规律 13

4.4  并购风险损失度递增规律 13

5  企业并购产生风险的原因分析