Combination by exchange of stocks is the merger between two listed companies , by head company issues new stocks to exchange target companies " stocks held by shareholders . it is the method most in use in western societies , and has mature basis of converting stocks 兩個上市公司之間的換股合并是指主并企業(yè)發(fā)行新股去換取目標企業(yè)的股票,這種方法在西方證券市場上經常被使用,其股票的轉換具有成熟的基礎。