The United States will announce the results today: M & a basically a foregone conclusion?

Today is Gome (0493.HK) acquisition Chinese Yongle (0503.HK) as of the date of the first. At 4 this afternoon, the final time to accept the offer. October 2006 16, Gome spokesman He Yangqing said that the United States will be on the acquisition of foreign affairs, the 17, there is a saying, but he declined to disclose details. However, the parties involved in an interview, did not succeed in the merger of the two major home appliance retail giant doubt. Gome mergers and acquisitions is basically a foregone conclusion.

In accordance with the timetable for the merger of the two sides announced in August 29th issued a joint announcement, at 7 o'clock this afternoon, or before, the United States will be published on the Hong Kong Stock Exchange Web site on the results of the acquisition announcement. And October 27th will be the United States to accept the proposed acquisition of the rights of shareholders to send shares and the last date of the check, the transaction will be completed. As the price of the acquisition of China Yongle, Gome will issue 765 million shares of the new Gome shares.

Yesterday, the United States launched the "battlefield" new management structure of the company, set up a decision-making committee, chairman and general manager, executive vice president, 5 vice president and director of the 15 center 6 layer management system. However, the general manager of the post is vacant, according to the agreement between the United States and the wing when the merger, the two sides after the merger of the new company's CEO will be held by Chen Xiao, President of wing lok. Well, Chen Xiaoji could be the general manager. He Yangqing declined to comment yesterday.

The introduction of this architecture, so that the industry speculated that Wong Kwong Yu began to decentralization, plans to fade out of the management front, and the use of the decision-making committee of the general manager of the power constraints. In this regard, He Yangqing in the absence of such a situation to respond. He Yangqing said that the launch of the original management structure and management structure of the United States and there is no essential difference between the United States and is composed of 8 veteran decision Committee Wong Kwong Yu will be directly responsible for the committee is mainly responsible for the company's strategic decision-making is discussed, and provide feasibility of the company's overall development, control the direction of enterprise development, "new architecture only in order to improve the efficiency of company's decision-making, the original management responsible for single business field can look at the problem in a more macro perspective."

Premium reasonable shareholders are not difficult to bow

Privatization of the concept of Wing Lok shares soared 4.39% to close at HK $2.14 yesterday, Gome was unchanged at HK $6.4. According to the United States reached a "equity + cash" acquisition program, Wing Lok 1 shares will be exchanged for the shares of the United States and the United States $0.1736 shares of HK $0.3247. According to yesterday's closing price, the purchase price is equivalent to $2.25168 per share of HK $, compared with the stock closed at a premium of about $5.22% yesterday.

Fidelity securities joint director Han Han said, I believe, according to the announcement, the acquisition of the final proposal is required to receive 90% of the Wing Lok shareholders, the United States in order to start the unconditional acquisition of Wing Lok, and thus make the Yongle delisting. Has to accept the offer promise of Yongle shares have been accounted for more than 60%, which in October 13th after the expiration of the lock up period, large shareholders RetailManagement and Chen Xiao promised to accept the recommendation of the stock ratio was more than 50%. Therefore, although the premium rate is lower than the beginning of the acquisition agreement has been reached, but today, a more reasonable acquisition premium will make the acquisition smoothly.