| Summary: | 碩士 === 東吳大學 === 會計學系 === 95 === Ever since official public announcement (via governmental communique) of the “Business Mergers and Acquisition Act”, corporate mergers (especially in the local electronics industry) have sprung up like bamboo shoots in a post-spring shower forest. “Merger” has become the mainstream player in strategic alliance, to survive in the electronics industry, which is facing ever shorter life expectancy cycles and factors such as: need to raise competitiveness, and speedy adaptation to ever changing commercial environment. Having said that, industry operators should never overlook the enormous potential risks involved, which might cause the very same demise which enterprises are trying to avoid. Main purposes of this research study are as listed below:
1.Working with the sample case on hands (Foxconn - Premier), probe into merger tactic applications in the electronics industry in Taiwan.
2.Indepth investigation and discussion of pre-merger planning details and potential partner assessment procedures.
3.Decision foundation for exchange ratio in such instances.
Initial observations of the research study are as listed hereunder:
1.Strategic application executed by Foxconn can be, in general, categorized as 3 separate main phases:
a.Nurturing core techniques of the new corporate division.
b.Completely renewed customer service and trouble-shooting resolutions.
c.Supplementing insufficient industry chain technologies.
2.From non-financial statement perspectives, Premier possesses core technologies of digital camera lenses and shutter modules; with a further reinforced business cooperation with another industrial giant (Foxconn), the new “hybrid” company is guaranteed to reach new benchmarks of “optical-mechanical-electrical integration” goal, as a trend setter in the optical science field. Nevertheless, from purely financial statement perspectives, Premier has not been generally recognized as an industry leader in “pure profits”; in addition, it has always been rather poorly rated (by its peers), whereas usually processing factories should be highly regarded in efficient asset management.
3.Initial outcome of this research study does appear to support the theoretic of “Economic Value Added per share” tabulations.
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