资源描述
单击此处编辑母版文本样式,第二级,第三级,第四级,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.,Kraft and Cadbury,单击此处添加标题文字,NetEase January 20:,with 186-year history,the British confectionery brand Cadbury yesterday announced the acceptance that Kraft Foods(Kraft)purchased Cadbury with the improved price of,117 million pounds,($19 billion)and defended for their decision of selling Cadbury to this American group,saying that it is the cost of globalization.,Kraft Foods,Kraft,who produces coffee,candy,dairy products,is now the worlds second-largest food company.In 1982 and 1984,it entered into Taiwan and China mainland market.,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,.,Cadbury,Cadbury Birmingham,a veteran(,资格老的,)British candy manufacturer founded in 1824,was ever the worlds second largest confectionery company with a total of 2500 types of products and an annual turnover(,营业额,)over 1 billion in the UK.After the merger of a drink company Schweppes(,玉泉,),in 1969,the company named Cadbury.,Why there was such a case,1,What it brought out to both companies,2,What implications for other organizations,3,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 neednt to make many efforts to build famous brand,weave sales network.All these will be made after the acquisition.,To reduce the risks of Krafts asset management,For the acquisition enterprises,hybrid mergers can achieve diversification,so that it can disperse(分散)the management risks.,To avoid bankruptcy,For,Cadbury,to join Kraft is beneficial to its business development.It helps reduce the risks to avoid its bankruptcy,benefits,problems,influence,1.,2.,3.,Cadbury can learn Krafts marketing experience in developing countries continue to expand their candy kingdom.,Enhance Krafts strength in newly-born market,Help Kraft step into the candy market to seize the higher ground,1.,2.,3.,The employees are faced with the redundancy,May lead to contradiction(,抵触,)among the employees,Faced with the problem of personnel restructuring,It is not the strongest of the species that survive,but the one most responsive to change:Only with a sense of change,can the enterprises survive in the competition.,The companies need proper management.,Properly regard the acquisition and catch every possible chance for development.,Implications:,Kraft will make their own food a giant to become even more powerful on its road,Kraft:at all costs,For The Kraft,once successful,its global position will surpass the Nescafe,becoming the worlds biggest food company with a total revenue over$50 billion.In addition,this acquisition will also successfully help Kraft make for its absence in the candy market.,（unsuccessful case),Microsoft renews Yahoo drive,Steve Ballmer,Microsofts chief executive officer,has increased the pressure on Yahoo to hand over control of its search business to his software company.Speaking in an interview with the Financial Times,Mr Ballmer set the stage for a new showdown nearly a year after Microsofts first aborted attempt at a full takeover.However,he ruled out a full acquisition,despite a collapse in Yahoos share price that has pushed its market value down to$17bn,less than 40 per cent of the amount that Microsoft offered to pay in a mixture of cash and stock last year.The best time for a landmark search pact between the companies was during the current management transition at both companies,Mr Ballmer said.,为让雅虎(Yahoo)将搜索业务出售给微软(Microsoft)，微软首席执行官史蒂夫鲍尔默(Steve Ballmer)增加了对雅虎施加的压力。在接受英国金融时报采访时，鲍尔默为新一轮的摊牌谈判做好了准备，这距离微软首次全面收购雅虎的努力失败已有近一年的时间了。不过，鲍尔默排除了全面收购的可能，虽然雅虎股价暴跌已导致其市值缩水至170亿美元，还不到微软去年现金加股票收购报价的40%。鲍尔默表示，当前两家公司都处于管理层人事变动的过渡期，这是双方合并搜索业务、达成这项里程碑式交易的最佳时期。,“We now have someone in place running our online busin
展开阅读全文