What is the link between OSRAM and OSRAM?

Recently, the biggest news of LED lighting industry is that the three party joint investment team such as Mulin and so on (hereinafter referred to as "Mulin Sen union") bought the transaction of Lund Vance (LEDVANCE and OSRAM light business) in 400 million euros, which means that a key hammer has been dropped in the buy-out case of the industry. The twists and turns of the acquisition ended here. As soon as the news came out, Peng Yinshui, an industry veteran, bluntly said, "first of all, congratulations on the success of the acquisition, but is the road still far away?" OSRAM's rejection of the "burden" for this transnational acquisition case, Peng Yinshui thought it needed to be more rational. "From a variety of information, including the announcement of disclosure, in fact, the core and most valuable business is still in OSRAM's hands. OSRAM is selling its" burden "business. Actually, it is throwing away the burden, and it is not cost-effective for the acquiring company. He said so. Peng Yinshui told reporters firmly that the above views were further confirmed in his communication with OSRAM's internal staff in China. "They also think that this part of the sale to the wood Lin Sen union is basically a traditional business. Although there is a part of the LED lighting source, this part is basically on the Chinese foundry. It can be said that the sale is part of the competition, which is basically not too high value-added business." There is no long-term use of international brands, according to landward vs. OSRAM agreement, the former will continue to use OSRAM (OSRAM) and North American SYLVANIA brand at the product level, but there is a key question that is not mentioned: OSRAM brand use year, including whether the brand of Xi Wan is long. Period of use. "What I have learned before is that OSRAM brand can only be used for 10 years, but according to OSRAM internal staff, landward Vance uses OSRAM brand as if it is only two and a half years, and it will not exceed three years. If so, the value of such M & A is even worse. " Peng Yinshui did not hide his bad intentions. He further said, "don't be like Lenovo's acquisition of IBM. It took five years to turn IBM brand into Lenovo's own brand. As a result, many consumers in the international market still can't recognize the new brand. "If the brand of North America can be used for a long time, there may be some value. Because Chinese enterprises or other foreign enterprises enter the US market, the local enterprises will adopt some local protectionism. They are the first to prosecute you, so you can not sell in this country, but the brand of Xi Wan is different. In this country, there is a certain foundation, so it is easy for them to achieve sales. Peng Yinshui also learned from OSRAM's internal staff that when landward vs. OSRAM brand was used, OSRAM's LOGO could not be used alone, and OSRAM and landward two brands needed to exist simultaneously. In other words, when she bought the landbrand, OSRAM had to put two brands of OSRAM and landvance at the same time. An imperfect acquisition? For this acquisition, Peng Yin Shui has a more conservative and pessimistic attitude and does not consider it a good takeover. In Peng Yinshui's view, the parties concerned have taken a hard look at the outside world and described some information that is conducive to the rising of their stock prices. "Up to the short term, their stock prices can rise to a certain level, or even skyrocketing. Most of the investors are irrational to buy a big cake, but the real rational people should go deep into it. "As OSRAM throws out the traditional general lighting business, the performance of this business is definitely declining. In the process of declining, some of the rewards will eventually become lower and lower. From the case of the acquisition of Mu Lin Sen consortium, I think more speculation is likely to increase stock prices. Peng Yinshui said. He further pointed out that there is a considerable sales data that can push wood into the third place in the world, but this figure must be dynamically viewed. It is a downward process, and it is difficult for him to keep it stable. "This merger and acquisition I understand the subject matter is heavier than the actual!" In the course of the interview, Peng Yin Shui repeatedly stressed, "the life of the brand is the core and most critical. The price of the transaction is 400 million euros. If the content is rich, it is not expensive, but there is no brand life." I understand that the longest time is not more than 10 years, and it is more than Teruo Shiro's employees. Two and a half years are unlikely. Peng Yinshui said that such acquisition cases abound, and the number of years of use and relative core technology, some enterprises are still in the scope of acquisition. "However, he did not acquire the core business of OSRAM, which is purely part of the business that people want to discard or think that there is no added value. Only a bit of value may be in the North American market." To sum up, a takeover has neither long-term international brands nor core values of international brands. Will this acquisition be perfect?