The most suspense CP: OSRAM + who?

OSRAM to sell general lighting business, stirring the hearts of Chinese buyers.

From the data point of view, audio special announcement clearly, Linsen planned acquisition of OSRAM business; Elec-Tech pointed to the unknown, just announced the acquisition of foreign assets will be a lighting enterprise; rising from OSRAM purchased as the Buddha's largest shareholders, and the apparent intention of internationalization is Yankon; the industry deemed to have sufficient reason for the acquisition of OSRAM channel business...... Although the latter three did not explicitly express the intention of the acquisition of OSRAM, but do not rule out their actions (read the original text): who will marry OSRAM?. At the moment, the industry is not only concerned with OSRAM Zexu standard, also who can win the final interest, so this paper will assume the next 5 to formally participate in the bid, look at OSRAM +who, will be the greatest impact on the global LED lighting industry layout.

Hoard money force

OSRAM is one of the three major global lighting business enterprise, consists of 5 parts: CLB (traditional lighting and ballast), LLS (LED, L&S and lamp system) (lamps and solutions), SL (special lighting, automobile lamp), OS (Opto Semiconductors, LED chip and device based). The split mainly consists of two parts, CLB LLS (2014 reported a total revenue of 47%), OSRAM (OSRAM) and Sylvania (Sylvania, North America) two major international brands, as well as the huge sales channels covering about 150 countries. According to estimates of the investment bank Chinese, gross of these two businesses is about 720 million euros (about 4 billion 920 million yuan), but also have analysts said, including its debt, OSRAM lighting business value of up to 1 billion euros (about 6 billion 893 million yuan). But no matter which data is a small number.

So why does OSRAM sell general lighting?

OlafBerlien, OSRAM's chief executive, said: "it's not the best price we're looking for, but the best parents we're looking for.

Nevertheless, but OSRAM threw 3 billion euros to open up new prospects for growth ", the new action like this, no money. So I believe that the price of everything, to sum up in a word: low profits, no prospects, as early as possible to sell, in order to force the other is hoarding money.

So OSRAM Zexu standard obviously. Some people ask, in addition to money? For example, human resources, mergers and acquisitions management capabilities and other comprehensive strength? These are too many considerations, enterprises profit, just and right, in addition to money, money.

Financial competition

Therefore, this battle, the ability to consider mergers and acquisitions, the final is nothing more than a financial battle. The purchasing power is mainly reflected in the disposable cash or securities, which includes the bidder's internal financing and external financing.

First of all, their own financial resources mainly look at the total assets of the enterprise itself, liquidity, etc.. If the enterprise under the original capital resolution is the same, are discussing, so is the simplest method is one of their most recent earnings can be analyzed.

Through the above table, from the total assets, current assets, monetary funds, these two indicators can be on each bidder's own funds at a glance, no longer repeat.

And because the amount of funds required for mergers and acquisitions are often very large, enterprise internal funds is limited, the merger and acquisition of enterprises operating cash flow financing has great limitations, and therefore need to compare the external financing capacity. From the external open source of funds, raise funds from outside the enterprise economic entities, including direct financing (the issue of common stock, preferred stock, bonds, convertible bonds, warrants, etc.) and indirect financing (from banks and non bank financial institutions (such as trust and investment companies, insurance companies, securities companies) loan. However, the strength of these financing capabilities are generally determined by their operating performance and market reputation. So, from the above table (except outside the rising group), only from the total market value, operating income, net profit, asset liability ratio, 2016 earnings forecast of several indicators of the data can be obtained by the financing ability of the enterprises, key forest edge, Yankon and audio's drum, BDO run Dalvexun color.

Guangsheng group is a wholly owned subsidiary of Guangdong Province Electronic Information Industry Group Co. Ltd has purchased from OSRAM in the hands of the Buddha as the first big shareholders, this is perhaps the first step in its acquisition of OSRAM general lighting business, this step is very crucial step. This means that OSRAM has been rising and the basis of trust, naturally conducive to further cooperation.

Previously, think tank, an interview with Mr. He Yong, chairman of the Guangdong Provincial Electronic Information Industry Group Co., Ltd., party secretary, National Star photoelectric chairman of the board of directors (see: why do companies at this time overweight LED industry? Reply to "He Yong"), he said, get into the LED industry is rising mainly in accordance with the requirements of the provincial government leadership, strategic plan made in the country look far ahead from a high plane, star power and FSL is one of the major initiatives in the implementation of the strategy. In addition, he also repeatedly stressed that the implementation of the "strong" non final goal at home, out of the country to become an international giant is. This also means that if you want to buy OSRAM brand, to create a new LED Kingdom, the government of Guangdong will not stand idly by, which is also rising compared to other enterprise's unique weight