C598

"What? It's too cruel. It's hard to eliminate the influence of the poison pill plan. You have to think about it clearly. " Hua Xi Meng suddenly raised his head and expressed surprise.

Poison pill plan, also known as equity dilution anti merger strategy, is an anti takeover measure to increase the M & a cost of M & A enterprises, resulting in the rapid reduction of the target enterprise's M & A attraction. The poison pill plan will not take effect at ordinary times. Only when the enterprise faces the threat of merger and acquisition, the poison pill plan will be launched.

Once a company encounters a hostile takeover, especially when the shares held by the purchaser have reached 10% to 20%, the company will issue a large number of new shares at low price in order to keep its control. The purpose is to reduce the proportion of shares in the hands of the purchaser, that is, to dilute the equity and increase the acquisition cost. The purpose is to make the purchaser unable to achieve the goal of holding shares.

There are many ways to deal with the poison pill plan. One is to have a large amount of debt, such as redeeming a large number of stocks and paying off all loans immediately. In short, if you have no money on the book, you still owe others a fart of stock debt. Even if you buy it, you will face this big hole immediately; or you can sign a collective job hopping agreement with the company's top management, and as soon as you purchase, we will immediately collectively Leave and so on...

Once the poison pill plan is adopted, it will produce at least two effects: first, it will deter malicious buyers; second, it will reduce the number of buyers who are interested in adopting the plan.

It is not a case that there is no poison pill plan in China. For example, a wave group, which was famous for its microblog social platform, was once targeted by one of the top interactive entertainment media enterprises in China. When forced to a dead end, it adopted the poison pill plan. Finally, certain wave group could only give up the acquisition plan.

Of course, there are advantages and disadvantages. The poison pill plan can keep the company's ownership, but it also has its disadvantages. This is a method of killing 1000 enemies and losing 800.

First of all, the poison pill plan is not conducive to the increase of the wealth of the original shareholders of the company. It is considered that this is a way for the management to retain its control over the company, leading to the management sometimes ignoring the interests of other shareholders.

Secondly, the poison pill plan increases the management costs and expenses of the target company, and the company needs to transfer funds to implement the poison pill plan. On the one hand, it is to correct the bad business situation of the company and improve the company's governance; on the other hand, it is also to hinder the acquisition behavior of the purchaser.

Moreover, the implementation of the poison pill plan reduces the corporate governance rating, which will give the outside world a bad impression that the company is protected by layers, which will affect the company's financing, reduce the value of the company, reduce the investment desire of other investors to the target company, and make the reputation and other interests of the target company decline.

Finally, the poison pill plan is not conducive to the free flow of company capital, which not only hinders the acquisition of the company by the purchaser, but also hinders the transaction of the company's capital by ordinary traders. It not only hinders malicious buyers, but also hinders the transaction of bona fide buyers. Thus, it is unfavorable for the company to form sufficient capital sources and expand fund-raising channels, and ultimately to the long-term development of the company.

Mu Qianxue naturally understood its advantages and disadvantages, but said: "I know it's not good, so I said that I won't use it until I have to. But if I really get to that step, in order to keep the ownership of the company, I can only do so! There is not much time left. Although those shareholders are still hesitating, maybe someone has reached an oral agreement with the other party in private. Moreover, Mu Qing is definitely not on our side. I really don't want to watch my parents' painstaking efforts in their whole life to make wedding dresses for others! Or do you have a better way? "

"It's not that there's no way out of heaven." Flower Xi dream comfort way.

Mu Qianxue smiles and doesn't care. "I know the meaning of Hua Zong. You want me to invite a white knight, don't you?"

In the process of hostile takeover, white knight and Black Knight are opposite concepts. Usually, in order to prevent the occurrence of malicious takeover, the management of the company seeks a & quot; friendly & quot; company to merge, and this & quot; friendly & quot; company is called & quot; White Knight & quot;.

To deal with hostile M & A with a higher price leads to the situation that the third party and hostile M & a bid for the target enterprise. In this case, hostile M & A either increase the price of M & A or give up M & A. Generally speaking, if the bid of hostile M & A is not very high, the target enterprise will be saved by "White Knight". If the hostile M & a offer is high, the cost of "White Knight" will also increase correspondingly, and the chance of the target enterprise to be rescued will be small.

To put it bluntly, when someone wants to buy your company in a hostile way, ask a senior person to raise the price with him to increase the acquisition cost of the opponent, which is similar to the "trust" in the auction. This move is more effective when you are not determined to win or when your opponent's strength is not strong. However, it is obvious that "you'd rather have friends than slaves". Moreover, it's not for nothing to ask for "knight in white"!

However, when the trees fell, the monkeys scattered, and the walls fell down, people pushed them. Despite the reputation of the Mu group in the business world, it was really a life and death crisis. The original partners and so-called friends all shrunk their heads and no one dared to speak.

Even if there is one, mu Qianxue doesn't dare to agree rashly. You know, generally speaking, the acquisition of knight in white supported by the management is very likely to succeed. Who knows whether the other party will turn into a black knight?"Mr. Hua, you also know, who dares to play the role of the white knight in Mu's current situation? Ordinary small companies do not have such sufficient liquidity at all. However, there are a few old foxes who are not experienced in shopping malls. Their real appearance may not be much better than each other. " Mu Qianxue has no choice but to smile bitterly. A clever woman can't make a meal without rice. In fact, there are many ways to solve this problem. However, no matter what method, enough money is indispensable. Now, mu Qianxue's lack is just money. Without money, all operations are empty talk.

"Ah." Hua Xi Meng sighed, and she had to admit that mu Qianxue said all the facts. After hesitating for a while, she suddenly bit her teeth and said: "general manager mu, I can't manage other people's affairs, but at least I can manage myself. This time, the white knight, I and Ximeng group are willing to undertake. You can rest assured that I will not offer any excessive conditions."

Mu Qianxue was stunned, staring at Hua Xi Meng. She didn't expect that Hua Xi Meng would be willing to play this thankless role. At the same time, she had some bitterness in her heart. Naturally, she understood that Huaxi dream was for whom she was willing to step into the muddy water. However, she didn't expect that Huaxi dream could do this for Qin Hao.

"No, Mr. Hua, you have helped me a lot. I was not in the company before. You are willing to help. I really appreciate it. But this time, you really don't have to put yourself in. The opponent is Jin partner. I checked their information. Recently, this company has been infiltrated by many famous chaebols and investment groups in the world, and the controller and board of directors have changed. If they are really determined to buy Mu's and compare the funds with those capital tycoons, even Ximeng group can't do it, which will only drag you into the water. "

Hua Xi Meng opened her mouth and wanted to insist on it again. However, she could not deny mu Qianxue. After all, Ximeng group was not her one word. If she wanted to help, she could not talk about it.

Is there really no way?

Just as they were staring at each other, the door of the office room was suddenly knocked, and someone reported: "president, there is a man downstairs who claims to be a friend of director Qin, asking for a meeting. Do you see?"

Qin Hao's friend? Mu Qianxue and Huaxi dream looked at each other, then said: "you let him come up."

Soon, a sound of footsteps came from far and near, and the door was opened. A young man with golden glasses, a silk suit, and a black shawl and long hair led a group of YingYing and Yanyan to mix and match. People with foreign faces walked into mu Qianxue's office.

"Hello, I'm mu Qianxue, the president of Mu's group. Are you?" Mu Qianxue got up and asked the man with long hair.

The man with long hair stepped back and did not mean to shake hands with mu Qianxue. Instead, he bowed slightly and whispered, "Hello, sister-in-law. My name is glasses. I'm the financial officer of the boss. We already know about the group. The boss said hello to me before, so as soon as we received the notice from the princess, we immediately flew over all night. "

Then she pointed to a beautiful woman with an oriental face and said, "this is my companion. Her name is..."

"My name is Xiaoxiang, and I am the leader of the group of six ways of reincarnation." the woman did not let glasses continue to introduce her, but directly interrupted her words. She stepped forward and looked at mu Qianxue without expression: "the call of King Meng is to help relieve the crisis of Mu's group!"

PS: there are also updates. Don't rush me. Today, Chuxin is sick, his stomach aches, and he has a crazy diarrhea. Recently, the weather has suddenly warmed up. Big guys should pay attention to their bodies. Don't sleep with the air conditioner on all night. Otherwise, it's easy to catch a cold like Chuxin....

PPS: thanks for "app"_ 26324616 "," green spring without regret your uncle "," little dolphin "_ 25609232 "," WeiLei real estate consultant "," app "_ "30399760" and other children's shoes flowers, thank you "little dolphin_ 30729335 "reward 188, mamda..............

www.novelhold.com , the fastest update of the webnovel!