My Cold And Beautiful CEO

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"What? This is too harsh. The impact of the poison pill plan is difficult to eliminate, you have to think clearly." Hua Ximeng looked up suddenly, with a surprised expression on his face.

The poison pill plan, also known as the equity-diluted anti-M & A strategy, is an anti-takeover measure that raises the cost of mergers and acquisitions and causes the target company's M & A attractiveness to decrease rapidly. The poison pill plan does not take effect in normal times. The poison pill plan is only activated when the company is threatened by mergers and acquisitions.

When a company encounters a hostile takeover, especially when the acquirer's shares have reached 10% to 20%, the company will issue a large number of new shares at a low price in order to maintain its controlling stake. The purpose is to reduce the proportion of stocks in the hands of the acquirer, that is, to dilute the equity, and also increase the acquisition cost. The purpose is to prevent the acquirer from achieving the goal of controlling.

There are many methods for the poison pill plan. One is to owe a lot of debts, such as redeeming a large number of stocks and repaying all loans immediately. In short, you do n’t have a single account on your account, but you still owe others a fart ~ stock debt, even if you buy it , Will soon face this big hole; or is to sign a collective job-hopping agreement with the company's senior management personnel, as soon as you buy, we immediately leave the group and so on. . .

Once the poison pill plan is adopted, it will have at least two effects: first, it will have a deterrent effect on malicious acquirers; and second, there will be fewer acquirers interested in companies adopting the plan.

It is not the case in China that there is no poison pill plan. A wave group that was famous on a Weibo social platform at first had been followed by one of the domestic interactive entertainment media companies named Sheng, and the wave group was forced to end its life. The poison pill plan was adopted, and eventually Sheng Sheng had no choice but to abandon the acquisition plan.

Of course, there are advantages and disadvantages. The poison pill plan can retain the ownership of the company, but it also has its disadvantages. This is a way to kill the enemy by one thousand and damage 800.

First of all, the poison pill plan is not conducive to the increase in the wealth of the company's original shareholders. It is believed that this is a way for management to retain control of the company, which sometimes causes management to ignore the interests of other shareholders.

Secondly, the poison pill plan increases the management costs and expenses of the target company. The company needs to allocate funds to implement the poison pill plan. On the one hand, it is to correct the company's poor operating conditions and improve the company's governance; on the other hand, it is also to hinder the acquisition behavior of the acquirer. .

In addition, the implementation of the poison pill plan lowers the corporate governance rating, which will give the outside world a bad impression of the company being protected at all levels, which will affect the company's financing, reduce the value of the company, and reduce the investment desire of other investors in the target company. Reduce the target company's reputation and other benefits.

Finally, the poison pill plan is not conducive to the free circulation of the company's capital, which not only hinders the acquisition of the company by the acquirer, but also prevents ordinary traders from trading the company's capital. This not only hinders malicious bidders, but it also impedes transactions by well-meaning buyers. This is not conducive to the company's formation of sufficient funding sources and expansion of funding channels, and ultimately to the company's long-term development.

Mu Qianxue naturally understands its pros and cons. Helplessly said: "I also know that it is not good, so I said that I would not use it under the last resort, but if that step is really reached, in order to preserve the ownership of the company, I can only That ’s it! Time is running out, do n’t look at those shareholders who are still hesitant, maybe someone has reached an verbal agreement with the other in private, maybe, and Mu Qing is definitely not on our side, I ’m really I do n’t want to just watch my father and mother's hard work and make wedding dresses for others like this! Or, do you always have a better way? "

"It's not that there is no way to heaven." Hua Ximeng comforted.

Mu Qianxue smiled and didn't care; "I know what Hua means, do you want me to invite a knight in white, right?"

In a malicious acquisition, the knight in white and the knight in black are opposite concepts. Usually, the company's management team looks for a "friendly" company to merge in order to prevent the malicious takeover, and this "friendly" company The company is called & quot; White Knight & quot ;.

Dealing with hostile mergers and acquisitions at a higher price, resulting in a situation in which third parties compete with hostile mergers and acquisitions of target companies. In this case, hostile mergers and acquisitions either raise the merger price or abandon the merger. Generally speaking, if the bids of hostile mergers and acquisitions are not very high, the target company has a great chance of being rescued by the White Knight. If the bids offered by hostile mergers and acquisitions are high, the cost of the "knight in white" will increase accordingly, and the target company will have less chance of being rescued.

To put it bluntly, when someone wants to buy your company hostile, ask a high person to raise the price with him and increase the acquisition cost of the opponent, which is similar to the "trust" in the auction. This trick is more effective when you do n’t have the ambition, or when your opponents are not strong, but this approach is obvious "Ning and AIA, not domestic slaves", and please "White Knight" is not for nothing!

It ’s just that the trees are falling apart and the walls are pushing everyone down. Do n’t look at the Mu Group's reputation in the business world. However, it really faces such a crisis of life and death. The original cooperative partners and the so-called friends all shrank their heads. People dare to speak.

Even if it did, Mu Qianxue did not dare to agree rashly. You know, in general, the acquisition of "White Knight" supported by management is very likely to succeed. Who knows if the other party will become a black knight. ?

"Hua Zong, you also know that with the current situation of Mushi, who else dares to play the role of this knight in white? The average small company does not have such sufficient liquidity at all, and if it meets the conditions, there are a few that are not experienced in shopping malls. Old foxes, their true colors may not be much better than each other. "Mu Qianxue smiled helplessly, the clever woman ca n’t cook without rice, and there are many ways to crack the bear hug, but no matter what method, sufficient money is an indispensable condition. But now, Mu Qianxue lacks money. Without money, all operations are empty talk.

"Ah." Hua Ximeng sighed, and she also had to admit that Mu Qianxue said all the facts. After hesitating for a while, she gritted her teeth suddenly, and said heartily: "Mr. Mu, I care about other people's affairs No, but at least I can take care of myself. This time, the white knight, I and Ximeng Group are willing to bear, you can rest assured that I will not prescribe excessive conditions. "

Mu Qianxue froze, staring at Hua Ximeng, she never thought that Hua Ximeng was willing to play this difficult and unpleasant role, and at the same time she felt a little bitter. She naturally understood that Hua Ximeng was For who would like to swim in this muddy water, but she did not expect that Hua Ximeng could do this for Qin Hao.

"No need, Mr. Hua, you have helped me a lot. I was not in the company before. I am really grateful for your help. But this time, you really don't need to put yourself in. Your opponent is a gold partner. I have checked their information. This company has been infiltrated by a number of well-known international chaebols and investment groups recently. The controller and the board of directors have changed. If they really want to acquire Mushi, Compared with that group of capital predators, even Ximeng Group cannot do it, which will only drag you down. "

Hua Ximeng opened her mouth and wanted to stick to it, but she couldn't deny Mu Qianxue. After all, Ximeng Group was not her eloquence, and it wasn't just her who wanted to help.

Is it really impossible?

Just as the two faced each other, the door of the office room was suddenly knocked. Someone outside the door reported: "President, there is a man downstairs who claims to be a friend of Director Qin, you see?"

Qin Hao's friend? Mu Qianxue and Hua Ximeng looked at each other, then said, "Let him come up."

Soon, a footstep came from far and near, and the door was opened. A young man with gold silk glasses, a silk suit, and long black shawl led a dry Yingying Yanyan to mix and match. People with foreign faces walked into Mu Qianxue's office.

"Hello, I'm Mu Qianxue, president of Moushi Group, may I ask you?" Mu Qianxue stood up and asked his man with long hair.

The long-haired man stepped back and didn't mean to shake hands with Mu Qianxue, but slightly bowed and said softly: "Hello sister, my name is glasses, and I'm the boss's financial officer. We already know about Mu's group. Before, The boss greeted me, so as soon as we were notified by my consort, we rushed over the plane overnight. "

Speaking, she pointed to a beauty woman with an oriental face beside her, "This is my companion, her name is ..."

"My name is Xiaoxiang, and I am the leader of the six reincarnation group." The woman did not let the glasses continue to introduce her, and interrupted her. She stepped forward and looked at Mu Qianxue expressionlessly: "The king's call, specially to help Lift the crisis of the Mouth Group! "

PS: There are updates, brothers, do n’t remind me. My heart is sick at the beginning of this day. The stomach pain explodes. Crazy diarrhea. The weather has suddenly risen recently. Big guys should also pay attention to the body. It's cold. . . .

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