The financial analysis paper is a recent paper, so the date must also be the latest year and time.

Many scholars at home and abroad are interested in the merger & Acquisition, referred to as m & amp； There are many ways to explain the meaning of a), and there is no very unified concept, but all kinds of explanations are consistent in essence, and the difference lies in the different angles and positions of explanation. Generally speaking, M&A refers to the ultimate control of other enterprises by paying a certain cost, in order to achieve their own breakthrough development or make up for the current development dilemma. According to different angles, people divide the concept of M&A into narrow sense and broad sense. Generally speaking, the narrow sense refers to the merger and acquisition of enterprises, while the broad sense includes other forms of asset reorganization besides mergers and acquisitions. (1) merge. Merger of foreign enterprises usually refers to absorption merger, which is expressed by the formula: "A+B=A(B)". Usually, one of the dominant companies absorbs other companies to expand its scale 1. According to this merger, only one company can maintain its legal person status after the merger is completed. In addition, there is a new merger, which is expressed by the formula: "A+B=C", that is, two or more companies merge to form a new company. When discussing enterprise merger and acquisition in China, it generally refers to "-the enterprise obtains the property right of the target enterprise by changing the legal entity". 2 acquisition. Acquisition means that an enterprise owns part or all of the control rights of a specific enterprise through certain means. Cash and stock acquisition are two acquisition methods of M&A enterprises, through which the actual control right of the acquired enterprises can be obtained. At present, acquisition is generally divided into two forms: asset acquisition and equity acquisition. Asset acquisition means that after the acquisition is completed, the buyer enterprise finally obtains part or all of the assets of the seller enterprise; Equity acquisition means that after the acquisition is completed, the buyer enterprise obtains part or all of the final control rights of the seller enterprise. The difference between the two forms of acquisition is that asset acquisition only involves the assets of both parties, while equity acquisition not only involves assets, but the buyer should bear corresponding rights and obligations according to the shareholding ratio.