The privatization battle for the Ikang Guobin, which lasted for more than seven months, quickly ended after the Yunfeng Fund appeared. The two major buyer groups, Zhang Ligang and Mei Nian Health, retired. The capital game and the collision of interests behind the privatization of the game, the result of the game has been brewing for a long time.
The privatization war ended
On the evening of June 6, Ikang Guobin official website announced that the company received a non-binding privatization offer bidding proposal from Yunfeng Fund. Yunfeng Fund intends to use US$20 to US$25 per ADS. For the common stock price of 40 US dollars to 50 US dollars, the acquisition of all Class A and Class C common stocks (including common stocks represented by American Depositary Shares) issued by Ikang Guobin. As a result, in the privatization of Aikang Guobin, the situation of the two major buyer groups, such as CEO Zhang Ligang and Mei Nian Health, was instantly broken.
Just as the market speculated that Yunfeng Fund was interested in and speculated on how the three parties competed for the privatization of Aikang Guobin, another news came out on the evening of the 7th that Zhang Ligang had withdrawn his privatization proposal. In this regard, Zhang Ligang subsequently issued an open letter saying, “If friendly investors can bring value to the long-term development of Aikang through alliance or mergers and acquisitions, I will fully cooperate. For the long-term interests of the company, if I am from Aikang shareholders A complete exit at the level and management level will help well-known and friendly investors to buy Aikang, and I am willing to leave when the acquisition is completed."
Then, the US Health announced on the 8th, saying that in view of the latest changes in the privatization process of the Ikang Guobin, the buyer group involved in the company considered various factors and decided not to submit the restrictions to the special committee of the Ikang Guobin. The company’s takeover bid, the company also decided to withdraw from the buyer’s group.
The US Health Report further said to the reporter: "If the addition of Yunfeng Fund will make the overall ecological environment of the health checkup industry more active and healthy, we believe that the need to continue bidding has been greatly reduced, so we decided to withdraw from the privatization of Ikang. Bidding."
In less than 36 hours, Yunfeng Fund showed up and liberated Zhang Ligang and the two major buyers group of the United States for nearly seven months, and became the only acquirer. The Yunfeng Fund, which is likely to win this privatization, has also added more questions while bringing shock to the market. The undercurrent of the capital under the privatization game has provoked the sharp nerves of the market.
This ending may have been brewing for a long time.
Perhaps, the privatization battle of the Ikang Guobin can be so clean and endless, it has been a long-term brewing. In theory, the reason why Yunfeng Fund can be quickly and quickly decided is that there should be too many rounds of negotiation and interest game with Zhang Ligang's buyer group and the US Health Buyers Group.
Judging from the announcement, the announcement of the resolution of the board of directors issued by the US Health Week on June 8th showed that the fifteenth meeting of the sixth board of directors of the company was held on the spot at 6 pm on June 7 by means of a voting method on the spot. The meeting was chaired by the chairman Yu melt, serious discussion by the participating directors, by way of telecommunication voting passed the "buyer group on the participation of the company decided not to participate iKang Healthcare Group, Inc (love Kang Jiankang Medical Group Co., Ltd. ) Proposal to submit an offer.
According to the regulations of the US-based health company's articles of association, the notices for convening an interim board meeting are: telephone notice and written notice (including special person delivery, mailing, fax); the notice time is five days before the meeting; with the approval of all directors, the board of directors Ad hoc meetings may be held at any time; notices of board meetings include the date and place of the meeting, the duration of the meeting, the cause and issue, and the date of the notice.
It is inferred that it is not excluded that the Board of Directors issued a notice of the meeting five days before the convening of the board of directors (ie no later than June 2), and the privatization of the privatization bid for the Ekang Guobin was the only issue of the board of directors. Does this mean that the health of the United States has psychological expectations for developments? In this regard, the reporter contacted two directors of the US Health Year to verify, but both said "inconvenient response."
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