Chinese enterprises in the price of cross-border M amp;amp; A Game - the ability of the test of international operations.doc

 PAGE \* MERGEFORMAT 15 Chinese enterprises in the price of cross-border M amp;amp; A Game - the ability of the test of international operations June 8, 2005, BenQ Siemens officially announced the acquisition of the mobile phone business, BenQ will acquire 100%. BenQ will thus became one of the world’s fourth-largest mobile phone brand mobile phone business after the merger is expected in annual revenue will be more than 10 billion U.S. dollars. Although the Siemens mobile phone division a loss of up to 350 million euros, but the BenQ is a debt free transfer of assets to acquire, that is the official October 1 prior to the acquisition, Siemens, these losses must be recognized on their own; In addition, Siemens undertook to pay 250 million euros in cash and equivalent services for BenQ, as the core of patent development, marketing, business expansion and co-branding, and has invested 50 million euros BenQ become strategic shareholders, BenQ total was 300 million euros, and a world-class partners that the BenQ mobile phone industry to the Transactions ‘very cost-effective’. BenQ’s acquisition did not spend a single cent, on the contrary, Siemens will inject 250 million euros to the BenQ. December 8, 2004, Lenovo Group Limited ( ‘Lenovo Group’) and IBM signed an important agreement, according to the agreement, Lenovo will acquire IBM’s Personal Computing Division (PCD), to become a strong brand, a rich product portfolio and leading R amp;amp; D capabilities of the international large enterprises. . Purchase amount: the actual transaction price of 1.75 billion U.S. dollars, which contains 650 million U.S. dollars in cash, 600 million shares and 500 million in debt . Acquisition of form: in the share acquisition, Lenovo will be the Hong Kong dollar 2.675 per share to IBM, including 821 million new shares issued, and 921.6 million shares of non-voting shares. . Acquisition of assets: IBM’s worldwide notebook and desktop business, access to Think Series Brand .