The　current　Black-Scholes　option　pricing　model　is　based　on　the　assumption　that　prices　of　assets　such　as　stocks　subject　to　ITO　(continuous　Markov　process).　However,　the　value　of　assets　for　project　may　not　always　meet　this　assumption.　Therefore　there　is　subjectivity　and　arbitrariness.　Cloud　model　can　reflect　the　associative　characteristics　of　fuzziness　and　randomness.　The　reverse　cloud　generator　algorithm　based　on　interval　data　can　express　the　randomness　of　the　intervals,　which　estimated　by　experts　and　provide　the　numerical　features　of　cloud　formation　objectively　in　the　process　of　generating　cloud　formation　model.　In　this　paper,　we　applied　the　option　pricing　theory-based　normal　cloud　model　and　interval　analysis　the　normal　reverse　combining　interval　analysis　and　the　algorithm　of　reverse　cloud　model　to　offer　a　reasonable　estimate　of　the　strategic　mergers　and　acquisitions　pricing.　At　the　end,　a　example　is　given　to　simulate　verification　of　the　model.　©　2011　IEEE.