本文从宝能系收购万科的案例出发,阐述了此次案例的类型,分析了企业并购财务风险的的类型和影响因素,提出了对企业防范并购财务风险措施的新思考。本文认为,并购中融资工具的选择将会对并购财务风险的大小产生重要影响,以及融资信用和融资结构也成为了并购成功与否的挚肘之物。通过此次案例分析,结合风险防范理论,提出了企业并购的财务风险管理的建设性建议。 This article, starting from the case of the acquisition of Vanke by Baolian Department, elaborates on the types of cases, analyzes the types and influencing factors of the financial risks of M & A, and puts forward some new considerations on how to prevent the financial risks of M & A. This paper argues that the choice of financing instruments in M ​​& A will have a significant impact on the size of M & A financial risk, as well as the financing credit and financing structure has become the eligibility of M & A success. Through this case analysis, combined with risk prevention theory, put forward constructive suggestions on the financial risk management of M & A.