Strategi Akuisisi PT. Internasional Prima Coal dalam meningkatkan Corporate Value PT. Tambang Batubara Bukit Asam, Tbk.

This research is to describe the corporate strategy of PT. Bukit Asam (PT BA) to developing the coal business and to increase their production. This research was to evaluate whether a strategy of acquisition is done to PT. International Prima Coal (IPC) was able to increase the corporate value of PT. BA. This research is a form of qualitative case study with the source of research data in the form of primary and secondary data. The primary data obtained from interview and the calculation of financial ratios of the company. While secondary data from annual reports and financial documents that has been in publication. This study analyzes the performance improvement of PT. BA based on the calculation of financial ratios of the company. The finacial ratios in the research was test with statistic program using paired samples t-test (α: 0.05). This test was done to see enhance performance of company because of the acquisition strategi. The results showed that PT. BA implemented several strategies to maximize their profitability. Company strategy, among others : a strategy to increase production by acquiring companies that enhance the competitiveness of potential companies in the coal markets, create value-added product briquettes, implemented strategy of cost containment and carrying out strategies to expand the business of forming a subsidiary company that supports the core business. From the calculation of financial ratios, indicated the performance of PT. BA after the acquisition of IPC has increased. But the statistical result showed that this performance is not affected by IPC acquisition. Because of the statistical test did not give an enhance performance of the company. Based on the analysis, performance improvement of PT. BA was not influenced by the strategic acquisitions made by PT. BA. However, based more on improved global economic conditions that increase the domestic or export demand and increased selling price of coals