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As Beijing Dazhong Electrical Again chicken defection, Suning (002024.SZ ) yesterday announced on the implementation of the acquisition has been suspended. According to insiders, led to the abrupt end over the past year due to the acquisition of States United States Electric sudden bid 3.6 billion -38 billion, more than 3.0 billion offer Suning more than 20%. Affected by this, Suning Appliance shares fell 8.16% yesterday, the highest drop of 9.63%. States United States confirmed that large and medium are under negotiation Suning said in the announcement recently, medium and large companies and financial advisers and electrical matters in the negotiations on the acquisition, but the company took into account the cost of acquisition, acquisition risk factors, the two sides have been unable to reach agreement on key terms . Company has always stressed the strong, independent development of wholly owned stores in the chain development area as the main way the company. Therefore, the company decided to terminate the implementation of the acquisition. But according to insiders, Suning plans Tuesday with the signing of Great Central Plains Cooperation Agreement, announced in Thursday, but unexpectedly sudden critical juncture Gome bid for Dazhong Electric chairman Da defection again, and this move has angered the Suning, then terminate the acquisition announcement yesterday. It is understood that since the second half of this year, Suning sent over from the Nanjing headquarters finance staff on medium and large surveys carried out thoroughly, but day before yesterday and the staff have left the large and medium Suning. 2006 4 months, medium and large with the Wing-lok, signed a strategic cooperation agreement, plans to complete the merger within a year. To this end, Wing-lok, medium and large payments to 1.5 million "contract down payment." But then to Paradise and Dazhong Gome merged breach of contract, sued for breach of Paradise bear responsibility for payment to the confiscation of large and medium Yongle's 150 million yuan deposit. Paradise is then counter-sized breach of contract, for payment of liquidated damages 450 million yuan. The two sides have yet to apply the outcome of arbitration. Gome president Chen Xiao said yesterday that the Yongle and Dazhong currently signed strategic agreements in the last year is still valid. In this way, large and medium sell, at first, to sell Paradise. Even if delisting Paradise, Paradise of the holding company??? States also have the priority to buy the U.S. rights. Gome (0293.HK) spokesman confirmed yesterday in Hong Kong, China the United States is in acquisition discussions with Dazhong Electronics. As the acquisition process is quite complicated, Gome being processed is added to the part of the approval by the regulators, is expected to come to fruition in 2008. Suning maintained buy rating on the brokerage At 7 days in day before yesterday, Suning's share price has soared all the way from 56.8 yuan 68.36 yuan, up more than 20%. Tuesday and Wednesday Suning plate washed twice in 70 per share. But yesterday, to close at 62.78 yuan Suning Appliance, fell 8.16%. Everbright Securities Analysis report released yesterday that the acquisition will not have Suning unsuccessful short-term operating companies have a negative impact, but long-term development of the company while there are some negative effects. Short-term stock price may fluctuate, maintain Buy rating. SW of that, both large and medium revenue Suning M & rapid amplification, but also the risks associated with integration. From Investment Point of view, so give up the acquisition of large and medium essentially neutral impact on the Su Ning, the investment remains a strong buy rating. Suning Appliance executives believe that prices of up to 3.6 billion acquisition of large and medium, and is not a worthwhile investment Suning, and partners such sudden defection can not be trusted, Suning choose to give up. The source said, because of Suning in Shanghai market success stories of efforts on their own roots Beijing Complete confidence in the market. The e-commerce company in China offers quality products such as China Linear Bearing , Needle Roller Bearing , and more. For more , please visit Spherical Roller Bearing today!
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