案例五分众的并购经（The five case of mergers and acquisitions by）.doc

案例五分众的并购经（The five case of mergers and acquisitions by） Jason is how to make the focus of mergers and acquisitions and market growth and promote each other Jiangnanchun mergers (NASD-AQ:FMCN) as the 2008 New Year gift. In December 10th, Jiang got robbed the next completed listed roadshow cgen. According to the agreement, the Focus Media will be $168 million 400 thousand cash acquisition of all shares in Xicheng, 24 months after the completion of the agreement, if CGEN achieved its profit targets, the Focus Media will also pay the highest additional $181 million 600 thousand in cash and own stock. This transaction will greatly expand the coverage of the Focus Media in the Chinese large chain store digital advertising network. The merger is a double-edged sword, the probability of failure is far greater than the success. Review of IMBs personal computer Lenovo mergers and acquisitions, capital market bearish to the market value of HK $700 million in the announcement day evaporation. In focus, every large acquisitions have achieved market recognition, then announced the acquisition of crowd, focus one day share price soared 14.6%, acquisition of the largest Internet advertising agency good, the price rose 5.9%, the acquisition of Xi Cheng again pushed shares rose 3.71%. Especially for the merger to score all the stock price rose from $more than 30 to more than $50, Jason Jiang also escaped from the scorched by the flames competition, began to consider the strategic mergers and acquisitions more problems. The success of mergers and acquisitions pushed up the share price, the high price is in turn enhance the focus of the merger and acquisition ability (focus in mergers and acquisitions in the use of a large number of additional shares of stock rather than cash). Listed at the beginning of July 2005, the market value of Focus Media is only $700 million, just two years time, the funds for the acquisition (including SEO) has more than $1 billion 200 million, while market c