许多企业为了实现跨跃式的发展,使企业做强做大,大都采取外部扩张的模式,即通过并购来完成企业的发展。本文试从财务的角度探讨企业并购成功的因素,通过详细分析企业并购过程中可能产生的增量收益,如规模收益、节省的交易费用、并购价差收益、新的利润增长点、降低融资成本等,以及面临的并购成本,如并购价格、支付的交易费用、并购后的整合成本等,以便为那些希望通过并购实现快速发展的企业提供 Many enterprises in order to achieve leapfrog development, so that enterprises bigger and stronger, most of the external expansion to take the model, that is, through mergers and acquisitions to complete the development of enterprises. This article tries to discuss the successful factors of M & A from a financial point of view. By analyzing in detail the incremental gains that M & A may produce during the M & A process, such as scale returns, transaction costs savings, M & A spread gains, new profit growth points and lower financing costs , As well as the cost of acquisitions such as mergers and acquisitions, transaction fees paid, post-merger integration costs, etc. for those who wish to achieve rapid growth through M & A