Abstract: a company, not a backdoor listing, moved to the new board, the new board of large shareholders began to reduce, finally, it choose to be acquired. What do you think about this company? "It wants to cash in." however, it is also quite easy to take the initiative to reduce the price by 430 million…… The point is that you can’t sell it!
is a company, not a backdoor listing, moved to the new board, the new board of large shareholders began to reduce, finally, it choose to be acquired.
what do you think about this company? You know the answer to a lot of people is definitely, "it wants to cash in!"
Leroy culture (833564.OC) is such a company. In the first time after the termination of the acquisition, after a lapse of ten months, a total of electro acoustic (002655) to restart the Leroy culture acquisition, the acquisition valuation fell by 430 million compared to the previous.
In order to achieve the acquisition of
, Leroy culture not only self-worth, but also take the initiative to cut performance commitments, even agreed to the transaction performance commitments obtained about 600 million yuan in cash on the price to pay.
in order to sell the company, the shareholders are quite spell. Behind the shareholders eager to get rid of the cruel truth, perhaps there is a high risk business company.
1 termination of the acquisition and restart, the price is reduced by 450 million
this year, the Commission issued a policy to stop cross-border mergers and acquisitions and fixed growth, a lot of high valuation M & A cases were suspended or direct abortion.
Leroy culture is one of the typical.
December 2015, electroacoustic released the restructuring plan, the acquisition of cultural harmony spring and Leroy 100% stake, the total transaction price of up to 4 billion 120 million yuan, of which Leroy culture of the purchase price of 2 billion 320 million yuan. At the same time, the company will raise the amount of matching funds not more than 3 billion 273 million yuan for the payment of cash consideration.
Release plan electroacoustic recombinant
, the Commission has issued a letter of inquiry, according to the reorganization plan and put forward some questions, including the requirements of electroacoustic explains how to achieve performance commitments and the existence of risk can not be achieved.
eventually led to the end of September this year announced the termination of the acquisition of electroacoustic. Days before the announcement, announced the resumption of mergers and acquisitions Leroy entertainment.
According to the latest
plan, intends to shareholders for electroacoustic Leroy culture at the price of 13.92 yuan / share issue 56 million 610 thousand shares, and pay 1 billion 100 million yuan in cash, the acquisition price of 1 billion 890 million yuan of Leroy all equity culture.
compared with the previous program, the purchase price fell 430 million yuan compared with the previous. Performance commitments have also been lowered. Net profit before 2016, Leroy culture commitment in 2017 and 2018 attributable to shareholders of the parent company were not less than 170 million yuan, 220 million yuan and 280 million yuan, the decline.