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LED lighting enterprise mergers and acquisitions
As of August 22, there were 2,719 mergers and acquisitions cases in listed companies in 2014, of which 1,493 were completed, 1,164 were in progress, and 62 were announced. It is worth noting that in 2014, for the first time, 1161 mergers and acquisitions were announced, and 21 cases were declared terminated. For the mystery behind the merger and acquisition of the word, through the number of words announced by the listed company, or you can find clues. The success of the merger is very happy. The way of M&A this kind of expansion is becoming one of the commonly used means for listed companies to expand their asset scale and enhance their competitiveness. Through mergers and acquisitions, the company has achieved expansion, or upstream and downstream integration, diversified development, or entered new business areas, forming mergers and acquisitions and business synergies to achieve further exploration of financial value and business value. Because of this, the mergers and acquisitions of listed companies have been performed brilliantly. But unfortunately, the vast majority of mergers and acquisitions can not function properly. As some have said, seemingly cautious mergers and acquisitions make people feel weak in succession. In addition to failure, the acquired companies have been abandoned and some have been flat. And some of the acquisitions themselves seem to be just a little bit of a news bubble created to stimulate stock prices. The data shows that for projects that merge, merge, or both, the probability of a final failure will probably be between 40-80. This means that the vast majority of mergers and acquisitions will be a failed project compared to the original strategic goals. Restructuring failures hurt the pain. When we see all the M&A cases, more than half of them are failures. This includes the value of the integration brought by business integration. Li Zhaohui, deputy general manager of Tencent's investment M&A department, said that M&A is a highly market-oriented behavior. Therefore, when everyone participates, adequate preparation for risk is likely to be a result of failure. This has been proved by the market. It is impossible to buy insurance in one way or another. Of course, Li Zhaohui’s data includes the entire acquisition from the beginning of the merger to the successful completion of the merger. At this time, the M&A and reorganization events are more like a game in the game of interest. The scene is cruel and fierce. The failure of mergers and acquisitions is more or less painful for both parties. Chang Jun, chairman of Fengbo Investment, said that the failure of mergers and acquisitions for the short-term of the listed company of the purchaser directly leads to sharp fluctuations in the stock price; in the long run, it has a certain impact on the overall strategic layout of the company. For the seller, the impact is often more serious, because the merger is often due to problems with cash flow, or business difficulties, will seek to be acquired. Insiders tell a story about his recent experience. This is an environmental protection project and is optimistic about the acquisition by listed companies. In January 2014, an agreement was signed, and the merger was completed by June 30th. Everything is going well. In March, the listed company will change the legal representative of the company, and the finance and administration will be supervised by both parties. The listed company began to adjust the target company. As a result, it is clearly a paper agreement that has been black and white, and the listed company finally said nothing. Perhaps the listed company has found some new problems that cannot be tolerated, or changes within the listed company, and it is possible to find some problems of the target company as a rhetoric. Chang Jun analysis. In the case of the above-mentioned case companies, the biggest losers in M&A failures are the acquirers and even fatal. At this time, the target enterprise needs additional funds in the course of operation, but the financial supervision and legal representative changes directly affect the normal operation of the enterprise. In addition, the old wounds have not healed and added new injuries. The listed company also carried out an entrusted loan of 20 million yuan to the target enterprise, and pledged part of the equity of the major shareholder of the target enterprise. Now the two sides have not completed the merger as scheduled, and there are differences between the two parties regarding the repayment of this debt, which may fall into disputes. Chang Jun said that the prospect of the industry in which the company is located is very good, but its customers have poor payment terms, which causes problems in the company's cash flow. In the past six months, mergers and acquisitions have failed, and no way has been found. Corporate problems have become more concentrated. Until now, I am still eager to find a merger. Nowadays, with the soaring number of mergers and acquisitions of listed companies, the situation of direct failure of restructuring has been significantly increased. According to statistics, as of August 22, there were 2,719 mergers and acquisitions cases in listed companies in 2014, of which 1,493 were completed, 1,164 were in progress, and 62 were announced. It is worth noting that in 2014, for the first time, 1161 mergers and acquisitions were announced, and 21 cases were declared terminated. However, the reasons for terminating the merger have always been ambiguous. Some people have frankly said that there are very few people who can see through the mystery behind the merger. The lessons of the previous car, the teacher of the aftermath, we tried to pass the number of words announced by the listed company, or we can find clues. 12345