Takes shares in the privatization of three pit: policy changes, infighting and "insult to injury"

May 23, 2016, Century Internet announced the signing of a share subscription agreement and Enlightenment of play Free Dora Games Holding, the holding of the century enlightenment network investments were $ 388 million through its affiliates investors become Century Internet Group's strategic shareholders. Some analysts believe that major shareholders are changed Century Internet, may prevent return to the road of privatization century Internet, because the Internet century delisting to wait three years to submit materials submitted, and then fight for the return of A-share market. Investment industry also believe that holding inspiration behind the Internet into the century, which is substituted purple international status, there may be a compromise shareholder level. Chen Sheng Holdings may inspire future together complete privatization, the privatization process to accelerate the interconnection century. One day, nearly 360 more than in the same privatization investors to Artesyn Technologies confirmed 360 before June 15 may not be able to complete the privatization, and then delisted from the US stock market, but 360 have been resolved swap policy issues, it is now for execution stage of the swap. Earlier, the home buyer automotive group with China Ping An's war continues, each controlling stake in the snatch car from home. The number of investment industry insiders to Artesyn Technologies broke the news: plans to suspend privatization era celebrations. Privatization may be unfamiliar street at a standstill. So far, this year-long concept stocks collective Returning to the present, there are good margin century, Youku potatoes, big game, such as home, the MSI, Bona Pictures, swim in hand, Perfect World and many other companies takes stock delisting, even backdoor return to A shares. 360, Le funny game, eLong, cool media, Air America Media, wash rice and other enterprises privatized the game entered the final stage of the process, delisting soon. Century Internet, unfamiliar street trend towards privatization, togetherness era, the United States together superior products, etc. is not yet clear. In this drama, as well as the car home, Dangdang, iKang, Shanda, Zhaopin, etc. fall into the privatization of a controlling stake in the spoiler or bucket. In the capital, "bloody" snatch return to A shares "cake" in the process, lose a lot of opportunities starting. Variable privatization era celebrations encounter Policy pause The scheme can not change, in the era of privatization gathered reflected obvious that when privatization is progressing well, but once they hit pause. Earlier, Artesyn Technologies has received an exclusive material shows that the era of togetherness merger agreement may be play Bubble Shooter Classic signed and privatization in 2016 of the second or third quarter, and to achieve the delisting in the third quarter of 2016. In accordance with the road map, and thereafter, togetherness era will complete the red-chip and VIE dismantled in 2017 and the first quarter of clear return to A shares, possibly in late 2017 through the A-share approvals and the completion of delivery options. The privatization process gathered era in which a total of $ 3.97 billion (about 25.9 billion), of which, togetherness, chairman Lei Jun era (microblogging), CEO Li Xueling (microblogging) holds a total of approximately 33.4% stake in the company, corresponding to the value of 1.33 billion dollars. Age need to raise funds gather the remaining part of the shares, corresponding to 66.6% of the total equity funding requirement of $ 2.64 billion. The Times gathered to raise funds, the need to raise $ 1.94 billion (about 12.68 billion). Takes shares in the privatization of three pit: policy changes, infighting and "insult to injury" In addition, domestic syndicated Lei Jun and Li Xueling will provide $ 700 million equivalent bank loan, while 20% of the direct investor contribution as the founder of the borrower. However, by May 4, 2016, suddenly there are rumors that the Commission intends to defer takes stock of domestic listed companies, the shares shall return to the domestic backdoor, reorganization, IPO may be limited. A message is being privatized enterprises shares fell. To May 6, the Commission spokesman Zhang Xiaojun said that the Commission take note of public opinion, in accordance with relevant laws and regulations in recent years have been in the foreign market of five red chips listed companies through mergers and acquisitions in the A shares on the market questioned. "That these companies return to A shares have a greater specificity, especially for domestic and foreign markets clearly spread, shell resources should be highly concerned about the hype, the Commission notes that the relevant market reaction." Zhang Xiaojun said, the SFC against such companies through IPO, merger and reorganization A-share market may impact analysis. Although the Commission takes stock of the return of A shares position is "analysis", but still cause unfamiliar street, Century Internet, togetherness era, more than 360 companies being privatized and other shares continued to fall, but also to many proprietary arbitrage the fund "warehouse explosion." After experiencing several consecutive days of slump, investors receive a message sent gathered era: Members Skywalker investors, capital markets due to the current national policy uncertainties, Buyer Consortium decided to suspend the project, re-start when the time is ripe. Fighting more than the car home Shanda Since China Ping An intervention, the car home equity dispute produce sustained storm and have intensified the trend. According to informed sources, before the CEM transactions with China's Ping An announced that the car home by a management-led consortium has submitted two proposals seem attractive, but were refused CEM. The first offer of $ 31 a share is acquired from CEM qichezhijia 45% stake, and the privatization of the company; the second is to offer the same price to acquire a 45% stake, but retain its status of listed companies . A few weeks ago, domestic media exposed the board qichezhijia held in a temporary increase in sudden CEM board seats, in the case of inconsistent views of all parties, forced by Share Registration Rights Agreement. Telstra spokesman said: have signed a binding agreement and peace, and is continuing to promote the transactions contemplated under the terms of the agreement. Ping will be qichezhijia powerful new strategic partners, driving the company into a new stage of development. The other side is frequently counter-attack, before the family car of public shareholders submit a written letter to the Commerce Department report real name, Ping An Insurance Group to report suspected violations of the Ministry of Commerce "anti-monopoly law," the report has been received by the Ministry of Commerce letter. Complaint letters the question: If the deal reached, Ping An Insurance, or the formation of a monopoly position in the second-hand car trading services market, crowding out other competitors in the car credit and car insurance market. Which implies that China Ping entered the home of car transactions may be terminated. Recently there have been news that Ping An Trust by Telstra to transfer home ownership program of alleged violations of the American car-SOX (Sarbanes-Oxley), who has been associated SEC (SEC) submitted a report material, SEC or In this investigation. These are indicative, in order to cause the car home, led by CEO Qin Ping leading management reluctant China to stir Hutchison Whampoa peace between CEM and this is trade, car and home buyers in the group CEM, China Ping An in frequently force, continue to struggle. Takes shares in the privatization of three pit: policy changes, infighting and "insult to injury" As before May 24, 2016 opening of various privatization arbitrage (Artesyn Technologies with map) Cars are not the only family dispute erupted controlling stake, the big game since the inner struggle of shareholders, but also missed the best period backdoor A shares. July 2015, Huatong century with 6.39 billion yuan to acquire 43% stake in the big game, which is a specific implementation mechanism "gravel-day investment", "gravel investment in China", "sea gravel investment", collectively referred to as "gravel-based fund" . After the completion of the privatization of Shanda, the velvet Group has been the Bank of cashmere industry as Shanda return of A shares listed on the platform, and adhere to the 41.19% equity held by some grand game priority sold to Bank of cashmere industry. The Cashmere Group and Shanda Shanda's management held a total of more than 80% of the voting rights, the velvet Group and Elion was brewing joint Shengda held by the board of directors of Shanda way Huatong century extrusion Bureau. However, the Shanghai Century Huatong affiliates gravel tour has issued quickly in Cashmere Group, said the Hong Kong High Court was December 26, 2015 issued under an emergency injunction. This also led to a grand game stake in the dispute has been caught in the stalemate. Just recently, the big game management has its equity holding company Yili Shengda transferred to a limited partnership, and the executive partner of the limited partnership artificial Intime's holding company. Accompanied by the change of equity, Shanda also carried out new appointments, Ren Xiefei appointed as the new CEO, Shanda chairman play Nail Games and CEO Zhang Ying Feng and leave from the big game, currently in charge of things overseas VR field. Artesyn Technologies informed sources said the move is to allow management to focus more on the business rather than into a complex conflict between the shareholders. "Let the grand game and increase the value management is the most should be done 'KPI' and for each shareholder account." Dangdang together the United States, "adding insult to injury." February 2016, the United States together superior products announced the receipt of the Offeror from Europe CEO Chen, vice president of product Dai Yusen, and Sequoia Capital consisting submitted per American Depositary Share (ADS) $ 7 privatization applications. The United States together superior product than the price before the proposed privatization of February 16 closing price of $ 5.83, compared to a premium of approximately 20%. However, with the US stock market crash cheap Orly Chen plans to the United States together superior products privatization but was opposed to collective minority shareholders. Investors will have the United States together superior products company name apart, the United States together, said "no goods." Chen will also invest in Europe "I speak for himself," the ad into Chen Ou "I shameless endorsement." United States together superior products resist privatization suffered because: 1, the price of the privatization of the United States together superior products far below the issue price. 2, the United States together superior products listed nearly two years time, most of the time shares are above $ 7. United States together superior product 3-month closing average price of $ 7.85. 3, Chen Ou privatization cost is not high. Although many small investors expressed great dissatisfaction with the price, and set up organizational rights, desire in both places (the United States and the Cayman Islands) sued the United States together superior products, however, the United States together superior product not publicly responded, but also accelerate its privatization process. United States together superior product privatization storm has not relented, Dangdang management and taking advantage of foreign exchange controls, the Commission takes stock will be suspended rumors cause ALMOST stocks slumped down the privatization price, fell as much as 16.7% . Dangdang raised three grounds down privatization: 1, Dangdang market share experienced competitors eroded; 2, the US stock market instability make Dangdang market capitalization decreased; 3, Dangdang devaluation increased the cost of privatization. Dangdang move again suffered investors denounce. The reason is that this is Dangdang's management once again takes stock plummeted use the "bargain." Last Dangdang Management uses the A-share stock market crash caused US stocks plummeted machine privatization. Dangdang management initiatives angered many Wall Street investors, individual investors and even calling for "big mo Girl" war of words again Li Guoqing (microblogging). An industry source pointed out that the concept stocks collective return to the domestic capital market is a long-term trend, but the United States together superior products, Dangdang approach has undermined investor confidence in the concept stocks, the deterioration of the US stock market remained in the concept stocks living environment. "Investors would like to take the lowest in almost Unit, Buying rallies to sell, then, or do long-term value investors, but companies are taking play Hair Games advantage of low stock prices, stock prices or even deliberately suppressed privatization, so that investors suffered heavy losses, investment people have to takes stock at arm's length. " Currently, the US stock market remained in the concept stocks have not fared well, Baidu market capitalization of less than $ 60 billion. Cheetah move after the release of the guidelines up only 10-13% of the news in the second quarter, stock prices continued to fall, the market value of only $ 1.4 billion now.