Tencent Technology News On December 1, foreign media quoted people familiar with the matter as saying that the investment group that had previously made a US$9 billion privatization offer to Qihoo 360 was close to reaching a final privatization agreement with Qihoo 360, with a share price of
The American depositary shares were purchased at a price of approximately US$77 for Qihoo 360.
Qihoo 360 announced in June this year that the company’s board of directors had received a preliminary non-binding privatization offer dated June 17, 2015.
The offer comes from Chairman Zhou Hongyi, CITIC Securities and its affiliates, Golden Brick Capital Private Equity Fund I L.P, China Renaissance, Sequoia Capital China I, L.P and its affiliates, for $51.33 per common share (equivalent to U.S.
It will acquire all the issued ordinary shares of Qihoo it does not already hold in exchange for US$77 in cash depositary shares.
A final privatization agreement is expected to be reached in the coming weeks, people familiar with the matter said.
By then, the transaction will become the largest privatization transaction among Chinese companies listed in the United States.
The person also said that Qihoo 360 is hiring a Chinese asset management company to help finance the privatization transaction.
At the same time, once the transaction is completed, Qihoo 360 will consider listing on the domestic A-share market.
Qihoo 360 believes that listing in China will result in a higher valuation.
Qihoo 360 may be listed on the domestic A-share market within a few weeks. Looking for the "broken-winged angel" of restructuring. Looking for the "broken-winged angel" of restructuring. According to institutional insiders: "Companies that have failed in restructuring have clearly revealed their intention to acquire and reorganize, and will start capital again in the future."
The probability of operation is higher. "From a time perspective, companies that failed in major asset restructuring before the stock market crash have basically passed the three or six-month commitment period, and there is no obstacle to restarting mergers and acquisitions.
Stocks that failed to reorganize: Among the companies that failed to reorganize in the first half of the year, Xinlun Technology, Weihua Co., Ltd., Shenzhen Tiandi A, Nantong Forging Press, Zero Seven Co., Ltd., King Kong Glass, Jiangquan Industrial, Huiyuan Communications, Honglei Co., Ltd., *ST Shenke,
Boxin Co., Ltd., Tianrun Dairy, etc. have restarted capital operations. Statistics show that among the companies that failed to reorganize in the first half of the year, Xinlun Technology, Weihua Co., Ltd., Shenzhen Tiandi A, Nantong Forging Press, Lingqi Co., Ltd., Jingang Glass, Jiangquan Industrial, Huiyuan Communications
, Honglei Shares, *ST Shenke, Boxin Shares, Tianrun Dairy, etc. have restarted capital operations.
Among them, the restart speed of Nantong Forging Press is quite rare. On June 6, the company announced that it would terminate the acquisition of new energy parts manufacturers and applied to the China Securities Regulatory Commission to withdraw its restructuring documents, and promised not to do so again within three months. However, on July 24
, the company suspended trading again, saying that the controlling shareholder and actual controller Guo Qing was planning some equity transfers, which may lead to a change in the company's controller. After the expiration of the three-month commitment period, the company disclosed on September 25 that the equity transfer was terminated and changed to
Planning a major asset reorganization, the acquisition target is two Internet advertising companies, and involves the dismantling of the VIE structure.
In addition to Nantong Forging Press, companies that have failed to backdoor have a higher urgency to restart capital operations. For example, Weihua Shares, which failed to be backdoored by Ganzhou Rare Earth in February this year, has suspended trading since July 25 to plan major events and plans to acquire domestic Internet companies.
company.
At the same time, Beijing Weimeidu's failed backdoor plan to backdoor Jiangquan Industrial has been changed to a step-by-step sale: on June 11, the original major shareholder Jiangquan Group sold its controlling stake to Ningbo Shunchen Investment Co., Ltd., a subsidiary of "Shanshan Group" Zheng Yonggang.
Two months after the change of ownership, the company disclosed its restructuring framework. Shanshan planned to spin off the business of a chemical manufacturing company in Hong Kong and list it through a backdoor listing of Jiangquan Industrial. However, this restructuring failed and the company terminated the restructuring on September 24.
It has resumed trading and promised not to reorganize within half a year.
However, it is self-evident that Jiangquan Industrial, which has changed hands, will continue to promote restructuring in the future.
Similarly, Huiyuan Communications, which failed to be backdoored by Fengye Kehuan in May, also suspended trading on August 10. It first changed owners and then planned a major asset reorganization. It planned to acquire 100% of the equity of Guangdong Xuntong Technology, which is still suspended.
The probability of resumption of restructuring is high, which makes the restructuring stocks that have not yet made any new moves worthy of attention.
According to statistics from a reporter from the Shanghai Securities News, companies such as Lubei Chemical Industry, North Latitude Communications, *ST Zhonglu, Nanfang Co., Ltd., Shandong Zhanggu, Tianxing Instrument, Mianshi Co., Ltd., Coswood, Busen Co., Ltd., Heshun Electric, Yuancheng Gold and other companies are all
They fall into this category, and after the market shock, most of their market values ??are in the range of 3 billion to 4 billion yuan.
The probability of resumption of restructuring is high, which makes the restructuring stocks that have not yet made any new moves worthy of attention.
According to statistics from a reporter from the Shanghai Securities News, companies such as Lubei Chemical Industry, North Latitude Communications, *ST Zhonglu, Nanfang Co., Ltd., Shandong Zhanggu, Tianxing Instrument, Mianshi Co., Ltd., Coswood, Busen Co., Ltd., Heshun Electric, Yuancheng Gold and other companies are all
They fall into this category, and after the market shock, most of their market values ??are in the range of 3 billion to 4 billion yuan.