Vanke Against "Baoneng Series" Case Research

The reform of non tradable shares of the equity diversified enterprises of our country,bring equity financing for the development of enterprises,make enterprise management has greatly promoted,but at the same time,also let a lot of the company's equity are too scattered,thus causes the company to face the takeover threat.The acquisition of synergies arising from the acquisition of the assets and the combination of the proceeds of the purpose of mergers and acquisitions have taken action.Therefore,the choice of the shareholders of the shares dispersed,the stock price is undervalued and imperfect governance structure of the company,to attack.However,some mergers and acquisitions just want to get the benefits of financial investment,there is indeed hope to obtain control of the company,and thus achieve strategic objectives.However,in order to protect the interests of the interests of their own or other stakeholders,management or shareholders actively take anti takeover strategies for the acquisition of.Based on the domestic and foreign scholars' anti-takeover case theory,this paper analyzes the case of Vanke 's management' s opposition to the acquisition of "BAO ENERGY".First,this paper introduces the background,theoretical and practical significance of the topic,and the research ideas and research framework.Secondly,this paper introduces the related overview of the acquisition and the anti-takeover,the theory of anti-takeover,the anti-takeover motive theory and the anti-The case of participation in both the case and the case process;then,combined with the theory of the case analysis,analysis of the "treasure can be" the acquisition of motivation,Vanke become the reasons for mergers and acquisitions,Vanke management anti-acquisition motive,Vanke anti-takeover strategy implementation and its effect;Finally,this article in order to avoid the proposed company to buy and anti-takeover strategy recommendations..This article through Vanke management "treasure" anti takeover case study found that through the implementation of anti takeover strategy is conducive to improve the corporate governance system;at the same time,the company how to avoid becoming a acquired company and Target Corp to provide some reference for anti takeover strategy.