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沃伦·巴菲特曾经对企业的兼并与收购提出过一段有名的论述:“许多管理者沉浸于 被施了魔法的英俊王子在受到美丽公主的一记香吻之后,从癞蛤蟆的形体中解放出来的 故事。因此他们确信,他们的管理之吻能够为'目标公司'的赢利创造奇迹。……我们 已经看到了太多的亲吻,但奇迹太少了。”兼并与收购毕竟不同于购买一件商品,其成功 在兼并收购的过程,也取决于其后的管理。人说风物长宜放眼量,只有经过相当长的时 间,每个收购者才能坐下来反思每个个案的成功与失败,体味痛苦与欢乐。
Warren Buffett once made a well-known account of the mergers and acquisitions of companies: “Many managers are immersed in the magical handsome prince liberated from Toad 's body after receiving a kiss from the beautiful princess So they are convinced that their kisses of kissing can miraculously make a profit for the ”target company.“ ... We've seen too many kisses, but too few miracles. ”Mergers and acquisitions, after all, differ from buying one The success of a piece of merchandise in a merger and acquisition process also depends on subsequent management. People say that long things should be taken into consideration. Only after a long period of time can each acquirer sit down and reflect on the successes and failures of each case, experiencing pain and joy.