Xin Mao technology to 1.36 billion U.S. dollars bid for Holland Cable business Draka

NetEase Finance November 23 News According to the Financial Times, Xin Mao technology involved in the acquisition of Dutch cable manufacturer Draka (Draka), Draka thus become an intercontinental bid for the goal of the war. A few hours after Draka management disclosed that it had reached a € 840 million deal with Prysmian Prysmian (Prysmian), Xin Mao, a subsidiary of Xin Mao Group in Shenzhen, offered to bid for 1 billion euros (1.36 billion US dollars).　　Prysmian Prysmian headquarters is located in Milan, specializes in cable business, is split from the Pirelli. Draka, a former part of Philips (Philips), won a Draka bid for 731 million euros last month. The bid-for-Mao technology, which is worth just over 400 million dollars, is only a fraction of the value of Nike Sen and Prysmian Prysmian. Xin Mao technology is considered to be at most just a regional enterprise.　　The company's advisers in Amsterdam say it has the ability to pay bids in cash, while other potential buyers need to work with cash and equities.　　Draka's shares rose 4.24 euros to 19.66 euros, exceeding Prysmian Prysmian € 17.20 per share, but have yet to reach a € 20.50 bid per share. The report said Draka had to confirm whether he could disarm the agreement it had reached with Prysmian Prysmian. An overview of transactions issued to investors refers to the termination clause, which applies to other companies with a price higher than Prysmian Prysmian at least 15%, while Xin Mao's offer meets this condition. Prysmian Prysmian, however, claims to have received unequivocal support from the Dutch family investment group Flint Beheer irrevocable.　　Flint Beheer owns a 48.5% stake in Draka. The world's two largest companies in the cable industry say they need to consolidate the fragmented cable industry. Draka is a leader in China's cable market and is seen as an integrated goal that can lead to long-term growth.