The worldwide lockdown caused by COVID-19 has led to the complete suspension of shipping, land transportation, and aviation. As a result of the redistribution of global resources, governments have recently advocated acquisitions and mergers with strategic alliances and vertical integrations to revitalize the economy. This study aims to investigate how the mergers and acquisitions (M&A) were negotiated and how the equilibrium price was achieved with game theory and information economics in agricultural and fishery biotechnology industry. The findings in the present study propose that by adopting investment valuation (asset-based approach, revenue method, market method) and presenting three patents (globally unique nondrug-denatured pure male tilapia and GPS −25∘C cloud cold chain logistics), the more the vulnerable company is able to attain a triumphant price during the negotiation of M&A.

中文翻译：

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弱势公司在 COVID-19 影响下的并购谈判取得胜利——亚洲公司的实证研究

由 COVID-19 引起的全球封锁已导致航运、陆运和航空完全暂停。由于全球资源的重新分配，各国政府最近提倡通过战略联盟和垂直整合进行收购和合并，以振兴经济。本研究旨在调查农业和渔业生物技术行业的并购（M&A）是如何谈判的，以及如何利用博弈论和信息经济学实现均衡价格。本研究的结果表明，通过采用投资估值法（资产法、收益法、市场法）并提出三项专利（全球唯一的非药物变性纯雄性罗非鱼和 GPS-25∘C云冷链物流），越是弱势企业在并购谈判中越能获得高价。