| Summary: | 碩士 === 國立高雄應用科技大學 === 金融資訊研究所 === 97 === Recently, more and more companies collect the funding through the private equity funders. The Carlyle Group could be the most famous case during these years. They are the international private equity funder group, which merged the Advanced Semiconductor Engineering, Inc. in November of 2006. Due to the huge amount of funding and the under table processing, the private equity fund thus created even more mystery.
In this study, I focus on the Oaktree Capital merging the Fu Sheng Group to evaluate the actual price of enterprise using the enterprise evaluation methods to decide the reasonable price and acquisitions. Furthermore, the Event Study will be applied to elucidate whether the stock is abnormal returns before or after the date of declaration. Finally, any change in the financial ratio and reports of the acquired company before and after the merger and acquisition will also be studied.
Two major empirical results found in this study are as following:
1.The Oaktree Capital merging the Fu Sheng Group in NT$37.5 per share is a premium price in these three evaluation methods.
2.The stock price of the Fu Sheng Group was abnormal returns in the period before the declaration day and reached the highest during the day of declaration.
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