2008年以來，台灣長期的低率政策、大陸有意無意的邊緣化策略和大陸的紅色供應鏈崛起，幾乎所有的產業都陷入價格競爭的市場，尤其是智慧型手機的普及，即時又方便網路下單功能，更是直接衝擊台灣證券業經營型態。
台灣的證券市場與國際接軌，商品也逐漸多元化，對投資人而言，能投資的標的不再侷限在台灣，在資金自由流動的情況下，台股日成交量漸縮，證券市場在激烈價格競爭下，經營艱困。
2001年6月通過之金融控股公司法，國內金控業紛紛成立金控公司，希望能整合集團資源金融控股公司希望發揮3C效益(Cost Savings成本節省、Cross Selling交叉銷售、Capital Efficiency資本運用效率)，提高股東報酬率。
本個案教學以一家台灣上市A金控公司項下A證券併購策略為例：分析其目標公司B證券併購程序，併購動機，市場評價其併購後整合對A公司之影響。
A公司與B公司多項業務是重複的，同種業務水平整合，但是併購後快速踏入多角化經營提升營運的彈性。
本文併購價格計算，策略考量發現其綜效，表示其併購值得進行，但也對併購後，可能產生挑戰整合分析，以期望降低併購失敗風險。

Since 2008, Taiwan's long-term low-rate policy, China's intentional and unintentional marginalization strategy and the rise of China's red supply chain, almost all industries are caught in the price competition market, especially the popularity of smart phones, instant and convenient network Order function. Electronic trading is a direct impact on Taiwan's securities industry business model.
Taiwan's securities market is in line with international standards, and commodities are gradually diversified. For investors, the target of investment can no longer be limited to Taiwan. In the case of free flow of funds, the daily trading volume of Taiwan stocks is shrinking, and the securities market is fierce. Under the price competition, the operation is difficult.
In June 2001, the financial holding company law passed, the domestic gold control industry has set up a gold control company, hoping to integrate the group resources financial holding company to play 3C benefits (Cost Savings cost savings, Cross Selling cross-selling, Capital Efficiency capital utilization efficiency) To improve shareholder returns.
This case is based on the A-share merger and acquisition strategy of a Taiwan-listed A-Gold Control Company: an analysis of its target company B securities merger and acquisition procedures, M&A motives, and market evaluation of the impact of its mergers and acquisitions on A company.
A company and company B's multiple businesses are duplicated, and the same kind of business level is integrated, but after the merger, it quickly enters the diversified operation to enhance the flexibility of the operation.
In this paper, the M&A price calculation, the strategic considerations find its synergy, indicating that its merger and acquisition is worthwhile, but also after the merger, there may be a challenge integration analysis, in the hope of reducing the risk of merger failure.

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