we focus on acquisition timing when management choose to acquirer. We integrate the behavioral theory of the firm and prospect theory ,making distinction in performance feedback areas, management search attention distribution in these areas and the impact on acquisition, and further research impact of attention shifts on search behavior。We argue attention allocation and diversion in feedback area was the key factor driven acquisition timing. Using 2011-2016 A-share manufacturing listed companies as samples, theoretical analysis was supported. Below aspiration and above aspiration lower both were main area for distribution searching attention, result in higher acquisition probability for management, extra slack resources and group imitation behavior will lead attention shifts moderate the trend. Our research highlights the role of the management"s cognitive attention to feedback information in the search initiation, and impact of the search enhancement on the final acquisition results.