The Power Of Capital: Questions And Answers About Capital Merger And Acquisition Of Smes

At two o'clock p.m. on October 20th, "the power of capital - igniting the brand's future engine" was held at the Beijing International Hotel Convention Center.

Experts from various fields of the capital market have conducted extensive and in-depth discussions on the problems of capital in China's clothing enterprises, and now enter into the question of capital merger and acquisition of SMEs.

Next, I entered an interactive stage. I saw Chen Yongbin, vice president of the China clothing association, here. You can ask questions, or pass the paper slip. I will start with a few questions.

Because our plate is a merger and listing section, I will first ask PWC door a question. Not everyone is willing to be bought and bought in mergers and acquisitions. If many SMEs want to protect themselves, how should they make some preparations and formulate some plans? If I do not want to buy them, how can I better protect myself, so I raise such a question.

Man: I think companies should first have a strategy to attract investment or take a strategic consideration of this acquisition. That is to say, under what circumstances I think I can talk about it. After you have such a standard, a buyer will be able to make a rational judgement whether he is hostile or friendly. What kind of attitude should I take to face it?

If his offer is not friendly, I do not want to make such a deal with you. Take concrete strategies. I think there are many specific arrangements depending on the specific circumstances.

Liu Wenxian: usually this kind of poison pill plan will appear in the merger and acquisition between the listed companies. If it is a non listed company, is it less likely?

Man: that's the case.

Liu Wenxian: the next second questions I asked were presented to the general manager of Jin Jin Jia Cheng.

The most difficult part of mergers and acquisitions is cultural integration. If the two enterprises are integrated together, should M & a be absolutely controlled? Or is it good? How can we better handle the share ratio and respect for the original culture?

Ge Xiaojun: with regard to our past experience, basically, mergers and acquisitions are about money, and it is about value, and of course, about culture. I think more should be done even if culture is not so integrated. It is necessary to do well in signing the agreement. It is not only the distribution of value, but also the rules of future voting, including the arrangement of directors' seats, including the core management, who is to be stationed, who is in charge of financial power, and who should be in charge of personnel rights. At the beginning, everyone has clear knowledge and description.

Because culture is not good or bad, there is only one question whether it is suitable or not.

In my view, no matter whether the equity ratio is large or not, as long as the rules of consciousness are clear, many problems can be solved.