并购,是指两个或两个以上企业通过合并、兼并、收购等途径,合成一个新的企业,使原有产权关系实现转移,多个法人变成一个法人的行为。并购的实质是在企业控制权运动过程中,企业主体依据企业产权所做出的制度安排而进行的一种权利让渡行为。并购活动是在一定的财产权利制度和企业制度条件 Merger and acquisition refers to the merger, merger and acquisition by two or more enterprises, the synthesis of a new enterprise, the transfer of the original property rights and the conversion of multiple legal persons into one legal person. The essence of mergers and acquisitions in the process of corporate control rights movement, the main body of the enterprise according to the institutional arrangements made by the property of a right transfer behavior. M & A activity is under certain property right system and enterprise system conditions