导　　师： 宋献中

学科专业： 120202

授予学位： 硕士

作　　者： ;

机构地区： 暨南大学

摘　　要： 本论文分案例和案例分析两部分 案例部分以我国近几年的国有企业改革为背景，以广东云天集团有限公司并购广东明珠集团的战略行动为主线，全面揭示该公司进行战略性并购的过程，着重介绍其收购调查、收购决策、目标企业接管和重组整合的详情。 案例分析以企业并购战略和财务管理理论为指导，首先分析国有企业进行并购的特点、动机和战略思路。分析战略之后，再深入剖析本次并购的实务操作上的得失，揭示收购调查上的问题，核算并购成本，评价重组的措施和效果。最后，分析总结本次并购的经验与教训，提出分阶段进行战略性并购的思路，为企业通过并购培育长期竞争优势提供一些有益的借鉴。 This paper consists of two parts: case introduction and case analysis. This case entirely indicates the merger between Yuntian General Products of Guangdong Holdings Company and Mingzhu Corporation. The introduction of case concentrates on strategic actions during merger taking place. The details of case focus on survey, decision-making, take-over and reform. Basing on the rule of merger and acquisition, the analysis starts with discussion about the characteristic, motivation and strategy of merger and acquisition that involves State-owned enterprise. The following part is about the important factors of merger operation. Guiding by the financial management theory, the analysis comprises the problem of survey, calculating the cost of merger, appraising the method and effect of reform and summarizing the success and failure of the merger operation. This paper finally offers some useful suggestions and finish with a two-step model for strategic merger and acquisition in order to develop the core competitiveness.

关 键 词： 并购 重组 战略 操作

领　　域： [经济管理]