近十年,随着我国经济的快速发展及资本市场的不断完善,并购案的数量及金额也不断增加。通过分析研究以往的并购数据,我们发现能源及矿产业并购情况比较活跃,数额也很大,占并购市场份额的四成多。什么原因引起能源及矿产业的并购热呢?这正是本文研究的问题。本文运用市场上的供求关系来分析并购热产生的原因,从而对并购产生的现象给出合理的解释。 In the past decade, with the rapid economic development in our country and the continuous improvement of the capital market, the number and amount of mergers and acquisitions have also been on the rise. Through the analysis of past mergers and acquisitions data, we found that energy and mining mergers and acquisitions more active, the amount is also large, accounting for M & A market share of more than 40%. What causes the mergers and acquisitions of energy and mining industry is hot? This is the issue of this paper. This article uses the market supply and demand to analyze the causes of mergers and acquisitions fever, and gives a reasonable explanation of the phenomenon of mergers and acquisitions.