|
朔州翻譯公司關鍵字：First, to increase the transparency of the negotiation process must be changed within the senior management of unilateral negotiations with local government政府許可的定點正規翻譯公司 leaders the situation.
In Western countries, is mainly involved in the acquisition price management, the owner class and the target company MBO three intermediaries. In our current management of the acquisition process, the involvement of very few intermediaries, intermediary organizations can be involved in the target enterprise value evaluation agency, can also be seen as the management of financial institutions to finance the acquisition, multi-party participation in the negotiation process can transparency, reduce the pricing process "channeling seeking" behavior.
In addition, the management buyout bid approach should be used to increase the number of buyers will be initiated by internal staff management or investment company as one of the acquisition of the company's equity buyer in the auction sale.
Bid auction results from the recent auction of state-owned shares can be seen, the state-owned shares of East Hundred Group, the average auction price of 3.69 yuan per share, higher than the year's net assets per share; and even loss of 0.265 yuan per share, the Tianyu Electric's state-owned shares auction price reached 3.12 yuan per share, higher than the 2000 net assets per share 2.83 yuan.
Finally, the negotiations must be to develop a certain price pricing principle. At present, the provisions of the transfer of state-owned or state-owned shareholding companies increase prices generally should not be less than net asset value per share, and state-owned assets must go through the appropriate authorities for approval. In accordance with the discounted cash flow model to calculate the management buyout of the purchase price, the negotiations must be conducted on this basis, taking full account of the contribution of various factors, management can give certain concessions, but still not be less than the net per share in accordance with calculated the purchase price of assets.
(C) the contribution of science to measure managementIt should be recognized on the contribution of management until today it is still a sensitive topic. But must face the question is, if we take into account the pricing to the MBO's only state-owned assets and protecting the interests of minority shareholders, while management's reasonable interests are not given sufficient attention, it is still not a fair the transaction. Employee-owned state-owned enterprises on price, level of documentation does not clearly defined, most of them are vague with no quantifiable incentives, pricing is bound to be acquired, there are many
|