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\"\"<\/figure><\/div>\n\n\n\n

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\u696d\u754c\u518d\u7de8\u3084M&A\u3092\u542b\u3081\u3001\u3053\u308c\u304b\u3089\u306e\u4e8b\u696d\u5c55\u958b\u30fb\u4e8b\u696d\u5b58\u7d9a\u306b\u300c\u5730\u57df\u5305\u62ec\u30b1\u30a2\u300d\u306e\u8996\u70b9\u306f\u4e0d\u53ef\u6b20\u306a\u306e\u3067\u3059\u3002
\u305d\u306e\u5927\u524d\u63d0\u3068\u3057\u3066\u7406\u89e3\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u306e\u306f\u3001\u5728\u5b85\u30b5\u30fc\u30d3\u30b9\u306b\u3057\u308d\u3001\u9ad8\u9f62\u8005\u4f4f\u5b85\u306b\u3057\u308d\u3001\u5927\u624b\u4e8b\u696d\u8005\u3067\u3042\u308c\u3001\u500b\u4eba\u4e8b\u696d\u4e3b\u3067\u3042\u308c\u3001\u3059\u3079\u3066\u305d\u306e\u5e02\u753a\u6751\u306e\u5730\u57df\u5305\u62ec\u30b1\u30a2\u30b7\u30b9\u30c6\u30e0\u306e\u4e00\u54e1\u3060\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002
\u4f8b\u3048\u3070\u3001\u300c\u5165\u5c45\u8005\u306e\u4e00\u4eba\u304c\u8a8d\u77e5\u75c7\u306e\u5468\u8fba\u75c7\u72b6\u304c\u3072\u3069\u3044\u300d\u3068\u306a\u3063\u305f\u5834\u5408\u3001\u8fd1\u96a3\u306e\u7279\u990a\u30db\u30fc\u30e0\u306b\u300c\u65e9\u671f\u5165\u6240\u691c\u8a0e\u3092\u304a\u9858\u3044\u3057\u307e\u3059\u300d\u3068\u4f9d\u983c\u3057\u3066\u3082\u3001\u305d\u308c\u3092\u53d7\u3051\u3066\u3082\u3089\u3048\u308b\u304b\u5426\u304b\u306f\u3001\u666e\u6bb5\u306e\u304a\u4ed8\u304d\u5408\u3044\u30fb\u4eba\u9593\u95a2\u4fc2\u306b\u3088\u308a\u307e\u3059\u3002\u5927\u624b\u306e\u4ecb\u8b77\u4ed8\u6709\u6599\u8001\u4eba\u30db\u30fc\u30e0\u3067\u3082\u3001\u5730\u5143\u306e\u793e\u4f1a\u798f\u7949\u6cd5\u4eba\u3084\u5730\u57df\u306e\u30b1\u30a2\u30de\u30cd\u30b8\u30e3\u30fc\u306b\u4fe1\u983c\u3055\u308c\u3001\u5730\u57df\u5305\u62ec\u30b1\u30a2\u30b7\u30b9\u30c6\u30e0\u3001\u5730\u57df\u30b1\u30a2\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u306e\u4e00\u54e1\u3068\u3057\u3066\u8a8d\u3081\u3089\u308c\u306a\u3051\u308c\u3070\u3001\u305d\u306e\u5730\u57df\u3067\u4e8b\u696d\u3092\u7d99\u7d9a\u3059\u308b\u3053\u3068\u306f\u3067\u304d\u307e\u305b\u3093\u3002\u5358\u7d14\u306a\u65bd\u8a2d\u6570\u30fb\u5c45\u5ba4\u6570\u306e\u5897\u52a0\u3001\u5168\u56fd\u5c55\u958b\u304c\u6210\u679c\u306e\u3088\u3046\u306b\u8003\u3048\u3066\u3044\u308b\u4eba\u3082\u3044\u307e\u3059\u304c\u3001\u305d\u308c\u306f\u4e8b\u696d\u5b89\u5b9a\u3068\u306f\u7121\u95a2\u4fc2\u306e\u81ea\u5df1\u6e80\u8db3\u3067\u3057\u304b\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n

\u3053\u308c\u306f\u81ea\u6cbb\u4f53\u3068\u306e\u95a2\u4fc2\u3082\u540c\u3058\u3067\u3059\u3002
\u5236\u5ea6\u3084\u5831\u916c\u5358\u4fa1\u3092\u6c7a\u3081\u308b\u306e\u306f\u3053\u308c\u304b\u3089\u3082\u539a\u52b4\u7701\u3067\u3059\u304c\u3001\u5b9f\u969b\u306e\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306f\u3059\u3079\u3066\u81ea\u6cbb\u4f53\u30fb\u5e02\u753a\u6751\u304c\u4e2d\u5fc3\u306b\u306a\u308a\u307e\u3059\u3002\u4ecb\u8b77\u4fdd\u967a\u4e0a\u306e\u65bd\u8a2d\u3084\u4f4f\u5b85\u306a\u3069\u306e\u6574\u5099\u8a08\u753b\u3001\u904b\u55b6\u6307\u91dd\u3082\u3001\u81ea\u6cbb\u4f53\u306b\u3088\u3063\u3066\u5dee\u304c\u751f\u307e\u308c\u3066\u304d\u307e\u3059\u3057\u3001\u300c\u56f2\u3044\u8fbc\u307f\u300d\u306e\u6307\u5c0e\u76e3\u67fb\u3001\u30b5\u9ad8\u4f4f\u306e\u898f\u5236\u5f37\u5316\u3082\u81ea\u6cbb\u4f53\u306e\u5f79\u5272\u3067\u3059\u3002
\u5168\u56fd\u5c55\u958b\u3092\u76ee\u6307\u3059\u306e\u3082\u3001\u5c45\u5ba4\u6570\u30ca\u30f3\u30d0\u30fc\u30ef\u30f3\u3092\u76ee\u6307\u3059\u306e\u3082\u81ea\u7531\u3067\u3059\u304c\u3001\u300c\u5c45\u5ba4\u6570\u5168\u56fd\u30ca\u30f3\u30d0\u30fc\u30ef\u30f3\u300d\u300c\u3046\u3061\u306f\u25cf\u25cf\u30b0\u30eb\u30fc\u30d7\u3060\u300d\u3068\u5a01\u5f35\u3063\u3066\u307f\u3066\u3082\u3001\u305d\u308c\u305e\u308c\u306e\u5730\u57df\u3067\u306f\u5358\u72ec\u306e\u8001\u4eba\u30db\u30fc\u30e0\u3067\u3057\u304b\u3042\u308a\u307e\u305b\u3093\u3002\u4e00\u3064\u4e00\u3064\u306e\u4e8b\u696d\u6240\u304c\u3001\u305d\u308c\u305e\u308c\u306e\u5730\u57df\u306b\u6839\u4ed8\u3044\u305f\u3001\u5fc5\u8981\u3068\u3055\u308c\u308b\u30b5\u30fc\u30d3\u30b9\u3067\u306a\u3051\u308c\u3070\u3001\u4eca\u3042\u308b\u3082\u306e\u3082\u8db3\u5143\u304b\u3089\u5d29\u308c\u3066\u304f\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n

\u3053\u308c\u306fM&A\u306e\u672a\u6765\u306b\u3082\u5927\u304d\u304f\u5f71\u97ff\u3057\u3066\u304f\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002
\u524d\u56de\u3001\u3053\u308c\u304b\u3089\u306eM&A\u3092\u6210\u529f\u3055\u305b\u308b\u306b\u306f\u3001\u300c\u3044\u307e\u3001\u81ea\u5206\u305f\u3061\u306b\u8db3\u308a\u306a\u3044\u4e8b\u696d\u306f\u4f55\u304b\u300d\u300c\u3069\u306e\u90e8\u5206\u304c\u5f31\u3044\u306e\u304b\u3001\u5f37\u5316\u3059\u3079\u304d\u306a\u306e\u304b\u300d\u3068\u3044\u3046\u9577\u671f\u7684\u306a\u30b0\u30e9\u30f3\u30c9\u30d3\u30b8\u30e7\u30f3\u3092\u6301\u3063\u3066\u81e8\u3080\u3053\u3068\u304c\u5fc5\u8981\u3060\u3068\u8ff0\u3079\u307e\u3057\u305f\u304c\u3001\u305d\u308c\u306f\u5168\u56fd\u30ec\u30d9\u30eb\u306e\u8a71\u3057\u3067\u306f\u306a\u304f\u3001\u5730\u57df\u5358\u4f4d\u30fb\u5730\u57df\u30ec\u30d9\u30eb\u3067\u884c\u308f\u306a\u3044\u3068\u610f\u5473\u304c\u306a\u3044\u306e\u3067\u3059\u3002
\u300c\u30b5\u9ad8\u4f4f\u306e\u4e8b\u696d\u8005\u304c\u30b0\u30eb\u30fc\u30d7\u30db\u30fc\u30e0\u3092\u8cb7\u53ce\u3057\u305f\u300d\u3068\u3044\u3046\u8a71\u304c\u3042\u308a\u307e\u3059\u304c\u3001\u305d\u308c\u306f\u300c\u30b5\u9ad8\u4f4f\u300d\u3068\u300c\u30b0\u30eb\u30fc\u30d7\u30db\u30fc\u30e0\u300d\u3068\u3044\u3046\u4e8c\u7a2e\u985e\u304c\u3042\u308b\u3068\u3044\u3046\u3060\u3051\u3067\u3001\u5225\u3005\u306e\u5834\u6240\u306b\u3042\u308c\u3070\u3001\u6709\u6a5f\u7684\u306b\u9023\u52d5\u30fb\u9023\u643a\u3059\u308b\u3053\u3068\u306f\u3067\u304d\u307e\u305b\u3093\u3002\u3053\u308c\u306f\u300c\u9996\u90fd\u570f\u3067\u5c55\u958b\u3059\u308b\u5927\u624b\u4e8b\u696d\u8005\u304c\u3001\u95a2\u897f\u9032\u51fa\u306e\u305f\u3081\u306b\u95a2\u897f\u5927\u624b\u306e\u4e8b\u696d\u8005\u3092\u8cb7\u53ce\u3057\u305f\u300d\u3068\u3044\u3046\u306e\u3082\u540c\u3058\u3067\u3059\u3002\u9ad8\u9f62\u8005\u4f4f\u5b85\u306f\u3001\u305d\u3082\u305d\u3082\u56fa\u5b9a\u8cbb\u30fb\u4eba\u4ef6\u8cbb\u5272\u5408\u306e\u5927\u304d\u3044\u4e0d\u52d5\u7523\u4e8b\u696d\u30fb\u4ecb\u8b77\u4e8b\u696d\u3067\u3059\u304b\u3089\u3001\u30b9\u30b1\u30fc\u30eb\u30e1\u30ea\u30c3\u30c8\u304c\u5927\u304d\u3044\u4e8b\u696d\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u300c\u898f\u6a21\u304c\u5927\u304d\u304f\u306a\u3063\u305f\u2026\u300d\u300c\u5927\u304d\u3044\u3053\u3068\u306f\u3044\u3044\u3053\u3068\u3060\u2026\u300d\u3068\u3044\u3046\u767a\u60f3\u306f\u3001\u524d\u6642\u4ee3\u7684\u3067\u4f55\u306e\u30d7\u30e9\u30b9\u30a2\u30eb\u30d5\u30a1\u3082\u751f\u307f\u51fa\u3055\u306a\u3044\u306e\u3067\u3059\u3002<\/p>\n\n\n\n

\u5730\u57df\u5305\u62ec\u30b1\u30a2\u30b7\u30b9\u30c6\u30e0\u3092\u571f\u53f0\u3068\u3057\u305f\u300cM&A\u300d\u306e\u672a\u6765<\/strong>
\u2460\u3000\u5168\u56fd\u5c55\u958b\u3001\u30a8\u30ea\u30a2\u62e1\u5927\u3067\u306f\u306a\u304f\u3001\u305d\u308c\u305e\u308c\u306e\u5e02\u753a\u6751\u30fb\u5730\u57df\u5358\u4f4d\u3067\u306e\u4e8b\u696d\u5f37\u5316
\u2461\u3000\u5730\u57df\u5358\u4f4d\u3067\u306e\u91cd\u5ea6\u5316\u5bfe\u5fdc\u30fb\u8a8d\u77e5\u75c7\u5bfe\u5fdc\u306a\u3069\u591a\u69d8\u306a\u30cb\u30fc\u30ba\u3078\u306e\u5bfe\u5fdc\u529b\u5f37\u5316
\u2462\u3000\u5730\u57df\u5358\u4f4d\u3067\u3001\u8db3\u308a\u306a\u3044\u90e8\u5206\u30fb\u30b5\u30fc\u30d3\u30b9\u3092\u4fdd\u7ba1\u3059\u308b\u3088\u3046\u306a\u7de9\u3084\u304b\u306a\u63d0\u643a\u3092\u76ee\u6307\u3059<\/p>\n\n\n\n

\u3053\u308c\u304b\u3089\u306eM&A\u306f\u3001\u4e8b\u696d\u6240\u30fb\u6cd5\u4eba\u5358\u4f4d\u3068\u3044\u3046\u3060\u3051\u3067\u306a\u304f\u3001\u5730\u57df\u5358\u4f4d\u306b\u306a\u3063\u3066\u3044\u304d\u307e\u3059\u3002
\u9ad8\u9f62\u8005\u4f4f\u5b85\u306eM&A\u4fa1\u683c\u306f\u3001\u65e9\u6669\u66b4\u843d\u3057\u3001\u5012\u7523\u4e8b\u696d\u8005\u3082\u6fc0\u5897\u3059\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u304b\u3089\u3001\u5730\u57df\u306e\u5165\u5c45\u8005\u6551\u6e08\u3068\u3044\u3046\u8996\u70b9\u3082\u5fc5\u8981\u306b\u306a\u308a\u307e\u3059\u3002\u6cd5\u4eba\u53c2\u52a0\u306e\u5168\u3066\u306e\u4e8b\u696d\u6240\u3092\u4e00\u62ec\u3057\u3066\u8cfc\u5165\u3059\u308b\u306e\u3067\u306f\u306a\u304f\u3001\u305d\u308c\u305e\u308c\u306e\u5e02\u753a\u6751\u3001\u5730\u57df\u3067\u529b\u306e\u3042\u308b\u793e\u4f1a\u798f\u7949\u6cd5\u4eba\u304c\u3001\u5730\u57df\u5358\u4f4d\u3067\u30d0\u30e9\u30d0\u30e9\u306b\u5206\u5272\u3057\u3001\u300c\u3007\u3007\u5e02\u3001\u25b3\u25b3\u5e02\u306e\u30b5\u9ad8\u4f4f\u306e\u307f\u3092M&A\u3067\u8b72\u6e21\u300d\u300c\u25cf\u25cf\u5e02\u3068\u3001\u25b2\u25b2\u5e02\u306e\u4ecb\u8b77\u4ed8\u6709\u6599\u8001\u4eba\u30db\u30fc\u30e0\u3068\u500b\u5225\u306b\u4e8b\u696d\u63d0\u643a\u300d\u3068\u3044\u3063\u305f\u5f62\u3082\u5897\u3048\u3066\u304f\u308b\u3053\u3068\u306b\u306a\u308b\u3067\u3057\u3087\u3046\u3002




<\/p>\n\n\n\n

\u9ad8\u9f62\u8005\u4f4f\u5b85M&A\u306e\u672a\u6765\u3068\u696d\u754c\u518d\u7de8 (\u7279\u96c6)<\/strong>

1 \u6d3b\u6027\u5316\u3059\u308b\u9ad8\u9f62\u8005\u4f4f\u5b85\u306eM&A\u306f\u30d0\u30d6\u30eb\u5d29\u58ca\u306e\u5e8f\u7ae0<\/a>
2 \u4ecb\u8b77\u30d3\u30b8\u30cd\u30b9\u30fb\u9ad8\u9f62\u8005\u4f4f\u5b85\u306eM&A\u304c\u52a0\u901f\u3059\u308b\u80cc\u666f<\/a>
3 \u9ad8\u9f62\u8005\u4f4f\u5b85\u306eM&A\u306e\u96e3\u3057\u3055\u3000\uff5e\u8cfc\u5165\u5f8c\u306b\u5546\u54c1\u30fb\u4fa1\u683c\u3092\u5909\u3048\u3089\u308c\u306a\u3044\uff5e<\/a>
4 \u9ad8\u9f62\u8005\u4f4f\u5b85\u306e\u300cM&A\u300d\u306f\u3001\u3044\u307e\u306e\u53ce\u76ca\u3067\u306f\u306a\u304f\u3053\u308c\u304b\u3089\u306e\u30ea\u30b9\u30af\u3092\u628a\u63e1<\/a>
5 \u305d\u306e\u53ce\u76ca\u6027\u306f\u672c\u7269\u306a\u306e\u304b\u3000\u2160\u3000\uff5e\u5165\u5c45\u4e00\u6642\u91d1\u7d4c\u55b6\u306e\u30ea\u30b9\u30af\uff5e<\/a>
<\/span>6 \u305d\u306e\u53ce\u76ca\u6027\u306f\u672c\u7269\u306a\u306e\u304b\u3000\u2161\u3000\uff5e\u56f2\u3044\u8fbc\u307f\u4e0d\u6b63\u306b\u3088\u308b\u53ce\u76ca\uff5e<\/span><\/a>
7 \u5358\u72ec\u3067\u904b\u55b6\u3067\u304d\u306a\u3044\u9ad8\u9f62\u8005\u4f4f\u5b85\u3000\u2160\u3000\u3000\uff5e\u4f4e\u4fa1\u683c\u306e\u4ecb\u8b77\u4ed8\u6709\u6599\u8001\u4eba\u30db\u30fc\u30e0\uff5e<\/a>
8 \u5358\u72ec\u3067\u904b\u55b6\u3067\u304d\u306a\u3044\u9ad8\u9f62\u8005\u4f4f\u5b85\u3000\u2161\u3000\u3000\uff5e\u5358\u72ec\u306e\u4f4f\u5b85\u578b\u30fb\u30b5\u9ad8\u4f4f\uff5e<\/a>
9 \u9ad8\u9f62\u8005\u4f4f\u5b85\u306e\u300cM&A\u4fa1\u683c\u300d\u306f\u66b4\u843d\u3001\u6295\u3052\u58f2\u308a\u72b6\u614b\u306b\u306a\u308b<\/a>
10 \u691c\u8a0e\u8cc7\u6599\u306f\u3001\u8ca1\u52d9\u8af8\u8868\u3067\u306f\u306a\u304f\u3001\u300c\u91cd\u8981\u4e8b\u9805\u8aac\u660e\u66f8\u300d\u3092\u8aad\u307f\u89e3\u304f<\/a>
11 \u6210\u529f\u3059\u308b\u300cM&A\u300d\u3068\u696d\u754c\u518d\u7de8\u3000\u3000\u2160\u3000\uff5e\u30b0\u30e9\u30f3\u30c9\u30d3\u30b8\u30e7\u30f3\u304c\u63cf\u304f\uff5e<\/a>
<\/span>12 \u6210\u529f\u3059\u308b\u300cM&A\u300d\u3068\u696d\u754c\u518d\u7de8\u3000 \u2161\u3000\uff5e\u5730\u57df\u5305\u62ec\u30b1\u30a2\u3092\u610f\u8b58\u3059\u308b\uff5e<\/span><\/a>
13 \u6210\u529f\u3059\u308b\u300cM&A\u300d\u3068\u696d\u754c\u518d\u7de8\u3000 \u2162\u3000\u3000\uff5e\u300c\u4eca\u3084\u308b\u3079\u304d\u3067\u306f\u306a\u3044\u300d\uff5e\u3000<\/a> <\/span> <\/p>\n\n\n\n



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