| Summary: | 碩士 === 國立臺灣科技大學 === 管理學院MBA === 102 === From the year of 2000, Taiwanese government not only put a lot of effort into adding or revising the law of M&;A of financial institution, but also took a series of financial reforms. Therefore, it is why that mergers and acquisitions between financial organizations in Taiwan is more and more popular than ever. However, there are so many factors will affect the performance of M&;A. The goal of this paper is to know what acquirers should do from studying the cases of M&;A in financial industry.
This paper chooses the following two M&;A’s cases: Cathay Financial Holding Company and United World Chinese Commercial Bank, Capital Securities Cor. and Taiwan International Securities Co. The research methods in this paper includes Literature Review, Case Study, and In-depth Interviewing.
The main results in this study are as follows: 1. Strategic goals: Acquirers have to realize the strength, weakness, and core value of itself and target firm. 2. Acquisition price: The pricing should meet stakeholder’s demands. And the negotiation process should be based on the principle of fairness. 3. Corporate culture: The corporate should establish suitable methods（ex. employee’s training）to integrate the cultures of two parties. 4. Integration: The company must develop integrated strategy, which be based on conditions of human resource, information system, and customer’s demands, etc. 5. Acquisition synergy: The firm have to inspect whether its financial status, costs, and credit risk will be changed after M&;A. In the end, this research also summarize the key success factors of mergers and acquisitions.
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