Case Analysis Of The Acquisition Of Baoneng To Vanke

As China's capital market continues to improve,acquisitions and acquisitions will become the norm.During the acquisition process,the value of assets was reassessed and resources were reallocated.However,many of the current acquisitions in China are not yet standardized.Many high-quality listed companies have shown a loosely managed and declining performance after their hostile takeovers.By analyzing the classic case of BaoNeng's acquisition of Vanke,this article put forward some measures to standardize the acquisition to promote the healthy development of the acquisition,summed up some suitable anti-takeover strategies to help the listed company develop itself steadily,and put forward some suggestions to the regulators to maintain Safe,efficient and fair market environment.The first part of this article expounds the background and significance of the research?the research status at home and abroad as well as the content and method of this article.The second part introduces the concept of acquisition and anti-acquisition,motivation,types and anti-takeover strategy.The third part describes the background of the case,introduced the situation of Baoneng and Vanke,elaborates the evolution of the acquisition.The fourth part is also the core part of this article.Through the analysis of Vanke,Vanke was found to be the main reason for the acquisition was loose ownership structure and the imperfection of the constitution of the company.The analysis of the capital of Baoneng reveals that Bao can complete the acquisition of Vanke through using a huge amount of leveraged funds through insurance,securities,banks and funds.The article analyzes the legitimacy and risk of each part of Baoneng's capital,and finds that most of the funds except the use of insurance funds belong to the legal scope,though in high leverage and risk.Finally,by analysing the attitude of all parties and profit and loss analysis,concluded that Shenzhen Metro and Hengda became the largest beneficiary of the acquisition.The fifth part is the enlightenment and suggestion of the case,and summarizes the inspiration and suggestions for the acquirer,the acquired party,the supervisor and the minority shareholders respectively.