商务英语企业兼并收购案例分析.ppt

Acquisition Prepared by 谢怡敏 沈婧 高彤 沈秋 Definition A company,piece of land,ect.bought by sb,especially another company;the act of buying it:They have made acqusitions in several European countries. Hostile Takeovers A takeover in which the target has no desire to be acquired and actively rebuffs the acquirer and refuses to provide any confidential information. The acquirer usually has already accumulated an interest in the target (20% of the outstanding shares) and this preemptive investment indicates the strength of resolve of the acquirer. Friendly Acquisition The acquisition of a target company that is willing to be taken over. Usually, the target will accommodate overtures and provide access to confidential information to facilitate the scoping and due diligence processes. Now its China mainland headquarter (总部) is in Shanghai. It owns many well-known food brands, including peace, Oreo, lots of interest, fun, Trakinas, Tang, Maxwell House, Singles, Philip, Toberone, Planters, delicious, Kraft Miracle Whip, and the European Bismarck. The motivation of this acquisition To get an economy scale When Kraft and Cadbury join their hands, it helps to expand the scale of production and sales to reduce the cost. They both want to increase the revenue by integrating the distribution system and developing new products. To promote the market competitiveness and dominant force For Kraft, this acquisition is a way of the least input, largest gains and fastest effective. Kraft needn’t to make many efforts to build famous brand, weave sales network. All these will be made after the acquisition. To reduce the risks of Kraft’s asset management For the acquisition enterprises, hybrid mergers can achieve diversification, so that it can disperse(分散) the management risks. To avoid bankruptcyFor Cadbury, to join Kraft is beneficial to its business development. It helps reduce the risks to avoid its bankruptcy Kraft: at all