Mengniu offer to buy modern animal husbandry Rejected by the latter management

recently, Mengniu Mengniu acquired equity shareholders’ meeting to discuss the modern animal husbandry, and agreed to launch a tender offer, however, for the tender offer, "the consumer." the final implementation of the possibility of speculation is unlikely, because Mengniu has reached the purpose of holding, in addition to modern animal husbandry management’s attitude was refused.

"consumer day exposure" and the modern management of the exchange of some understanding of animal husbandry, Mengniu will be launched for the tender offer, the modern animal husbandry management said it refused.

February 3rd, Mengniu shareholders’ meeting to vote on the two resolutions: one is to consider the acquisition of modern animal husbandry 16.7% shares, the total transaction amount of approximately HK $1 billion 873 million; the two is to discuss the acquisition of modern animal husbandry in the issued share capital of all issued shares as well as conditional mandatory cash offer (the "offer") all outstanding options such as the cancellation of the modern animal husbandry.

for the two motion, the general meeting of shareholders voted in favor of 91.49%, which means that the adoption of the two resolutions. Among them, the tender offer for the acquisition of other aspects of modern animal husbandry started.

although Mengniu has passed the tender offer, it is another matter whether modern animal husbandry management and other shareholders are willing to accept it.

to start the tender offer, Mengniu President Lu Minfang after the general meeting of shareholders accepted the media interview said, but the management of modern animal husbandry has refused the offer, to reflect the company’s confidence in the future, the company has been ready for the working group, once approved, will enter the management team, such as the implementation of the strategies, maintain its future Hebei listing status.

 

consumer day exposure, according to the provisions of the HKEx, Mengniu acquisition of 16.7% stake in modern animal husbandry triggered tender offer mechanism, therefore, in accordance with the provisions of the HKEx, Mengniu must start the tender offer.

and very likely next week, Mengniu will officially offer.

, however, the management of modern animal husbandry, said the refusal of the offer is mainly to show that management will not sell shares, the company will maintain the status quo unchanged.

in fact, Mengniu is not too willing to buy all of the modern animal husbandry equity, Lu Minfang Hongkong media interview also pointed out that the future to maintain its listing status."

speaking of tender offer, HKEx has occurred many times, but the final start of the mandatory tender offer is not much. Because the acquisition of the acquisition of the target enterprise equity has reached the purpose of holding up, no mandatory offer, so that the target enterprise delisting. While the target enterprises continue to listing is a win-win result for many.

and tender offer, shortly before the typical case.

2016, Erie shares issued 37% equity interest in the acquisition of China’s sacred animal, bid HK $5 billion 290 million, which triggered the tender offer to acquire the provisions of the HKEx, followed by the launch of the tender offer to start the acquisition of. Later, however, Erie

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