The next spring of Jiangnan spring?

Summary: The next spring in Jiangnan spring? Jason again became the focus. In Chen, Ma Yun led the privatization of the background, Jason to the privatization of the public further speed up. Media outlets (NASDAQ:FMCN) announced here that privatisation and Giovanna Parent Limi

The next spring of Jiangnan spring?

Jason again became the focus.

In Chen, Ma Yun led the privatization of the background, Jason to the privatization of the public further speed up. The media (NASDAQ:FMCN) announced that it had signed a final merger agreement and plan for privatization with Giovanna parent 2¥q ("Giovanna parent company") and Giovanna acquisition. It is reported that the acquisition of the shares of the media share value of 3.7 billion U.S. dollars, there is a market view that this will become China's largest leveraged mergers and acquisitions.

Completed in the next two quarter

Beijing Time December 20, the media announced that the privatization and Giovanna parent company and Giovanna Acquisition 2¥q signed a final merger agreement and plans. Giovanna's parent company will buy the media at $5.50 per share of common stock, or $27.50 per share of US depository shares (ADS).

By this price calculation and the announcement of the public receipt of the privatisation offer before the last trading day, that is, August 10, 2012, 23.38 U.S. dollar closing price compared to a premium of 17.6%. In this further calculation, on the basis of total dilution, the acquisition will allow the share value of the media to reach 3.7 billion U.S. dollars.

Under the terms of the Merger agreement, Giovanna Acquisition 2¥q will be merged with the media in the period of the merger, and the media will continue to operate as a surviving enterprise, with the sole holding of the Giovanna parent company. It is reported that after the completion of the transaction, Giovanna parent company will be divided into Media chairman and CEO Jiangnan Spring Benefit all. The annual report of the audience revealed that Jiangnan Spring owns 17.9% of the company's equity.

In addition, after the completion of the transaction, Fuxing International Limited and its subsidiaries will be the beneficiary owners of the Giovanna parent company. Currently, the chairman of the media and the Renaissance international now hold about 35.5% per cent of the external shares (excluding outstanding options and restricted shares).

The announcement further said the deal would be completed in the second quarter of 2013. At the same time, this transaction will be subject to a variety of acquisition conditions, including the merger Agreement is authorized, and the company owns Two-thirds or more of the shareholders, in the form of personal or a single class agent, at the company's shareholders meeting, authorized and approved the merger agreement.

Where is the next spring?

"The company's value has long been unable to be recognized by the capital markets and undervalued. "The Analysys International analyst Pang Yi Ming December 20 to" Huaxia Times "reporter analysis of the reasons for the privatization, said," frequently by the impact of short institutions. " ”

"The more quality companies fall, the people who sell short rumors to make profits, and why didn't anyone sue them for being a rumour-mongering person who was betting against the fund for a malicious profit? These people deserve to be punished by law. "Jason once denounced US capital markets.

Jason's remarks were aimed at last year's "Muddy Waters". On November 21 last year, the US muddy Water Company, which specializes in hunting stocks, reported that the number of LCD displays in the media was fraudulently exaggerated, deliberately paying high prices in mergers and acquisitions, and insider trading.

It is reported that affected by this, the share price fell nearly 40%, overnight, the market value loss of more than 1.3 billion U.S. dollars. Although the audience quickly respond to the query, through a number of rounds of game, stock prices gradually return to normal, but that obviously makes Jiangnan spring Thorn.

As we all know, Jason from Shanghai, had flourished. Its 2003 creation of the media, is China's largest digital media group. July 2005, the United States on the Nasdaq, to become listed overseas Chinese pure advertising media first, and to 172 million U.S. dollars to raise the amount of capital to create the current IPO record. Stock prices rose after the IPO, which hit a record high of $65 trillion in 2007.

By the power of capital, Jiangnan Spring frequently through acquisitions to expand. 2006 a year on the acquisition of the framework of media, Mass media, Beijing Kai Granville Point of Network Technology Co., Ltd., theater advertising company ACL, after the completion of the acquisition, ACL renamed the "Theater Network", into the field of cinema advertising. March 1, 2007, the media has 70 million of dollars in cash and 155 million of millions of dollars in media shares to buy the largest online advertising service providers good yes, into the field of online advertising.

From 2005 after the listing of more than three years of Jiangnan spring is the most beautiful time, but everything extremes, Jason is no exception. March 15, 2008 became his "Waterloo".

That night, CCTV "3 15" Party exposure points Wireless is China's largest manufacturer of junk information. Subsequently, the news that the division of the wireless SP Company was canceled SP qualification, due to the impact of these news, the Nasdaq market share media shares fell by 26.59% March 17.

At the same time, in the context of the 2008 financial crisis, share prices have fallen to the bottom, hitting the 5.8-dollar historical lowest share price. After the financial crisis, the share price gradually recovered, before the muddy water attack, the share price has created a 3-year high of 36.54 U.S. dollars.

December 22, 2008, the focus of the audience after a shock to make a vibration of the domestic Internet industry, a major decision. With the announcement of a joint agreement with the portal Sina Company, Sina will merge its digital outdoor advertising business. It was said that the deal would build the largest new media platform.

Unfortunately, the deal has not been approved by the Ministry of Commerce for a long time. In 10 months of frustration, the media and Sina announced September 28, 2009 that it would no longer extend the closing day of the December 2008 announced merger deal. The new hope of Jiangnan spring was shattered.

In the third quarter of earnings analyst meeting, Jason talked about the future of the audience, said that next year's advertising situation and the overall economic situation are still uncertain. Since the transition to the Chinese government has just ended, economic policy has determined the economic situation, so it is not possible to make a full forecast of the changes in the economic situation next year. But we need to anticipate it internally, as advertising in the Chinese market this year is 4%-5% single-digit growth. "Next year, the advertising industry will continue to maintain 0-5% growth, and we need to be prepared for that." With the overall growth of the industry, as far as our company is concerned, we will strive for 10%-20% growth. ”

"At the present stage, the market saturation of the building advertising market is high, especially in the cities with high marketing value of one or two lines, so the influence on the scale of the terminal scale in the future is very limited." "Pang billion Ming to our correspondent analysis said," The focus of the current stage is to enhance media utilization, that is, the painting rate, the current stage of the three or four-line city on the painting rate of only about 30% or 40%, advertising the main marketing value of the recognition needs to be promoted. ”

For the next step in the direction of the audience, Pang billion Ming said, although the building TV is mainly brand marketing, but the advertisement advocate to the effect marketing demand, to the interactive marketing demand also is improving, the building television also is making the change, but the mobile Internet application innovation speed, causes the public media the application to be difficult to promote, the interaction is the trend, but the way still needs groping.

After privatization, the next spring of Jiangnan spring will come?