The following press releases and media reports about Chinese companies were carried on July 27-29. To view a full article or story, click on the link next to the headline.
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Activision (Nasdaq: ATVI) Goes Solo In $8.2 Bln Deal, Tencent (HKEX: 700) Invests (English article)
EU, China Resolve Solar Dispute – Their Biggest Trade Row By Far (English article)
US Extends Review Of Shuanghui, Smithfield (NYSE: SFD) Merger (English article)
Wanda Orders Up to 120 New Imax Theaters for China （English article)
TMall Daily Mobile Gross Merchandise Value Exceeds 100 Mln Yuan (English article)
The controversial deal by China’s Shuanghui to purchase leading US pork products maker Smithfield (NYSE: SFD) is taking a new twist, with word that the former may attempt a Hong Kong IPO if and when it completes the purchase. Such a share offering looks quite smart, as it would allow investors to tap China’s huge appetite for pork. It would also allow them to buy into a major company whose size and foreign connections could reassure skeptical Chinese consumers jaded by a never-ending series of food scandals. But all that said, I have serious doubts about whether the deal will close due to building resistance in the US. Read Full Post…
The following press releases and media reports about Chinese companies were carried on July 17. To view a full article or story, click on the link next to the headline.
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Smithfield’s (NYSE: SFD) China Bidders Plan Hong Kong IPO After Deal – Sources (English article)
The following press releases and media reports about Chinese companies were carried on July 11. To view a full article or story, click on the link next to the headline.
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Lenovo’s (HKEx: 992) Eedoo Sold to Unnamed Software Company – Source (English article)
Tencent (HKEx: 700) In Talks To Buy Ctrip (Nasdaq: CTRP) Stake – Source (Chinese article)
Social E-Commerce Firm The Fancy Raises $53 Mln (Chinese article)
Smithfield (NYSE: SFD) CEO faces Senate heat over sale to China (English article)
Qihoo 360 (NYSE: QIHU) Protects Against Android Vulnerability (PRNewswire)
The following press releases and media reports about Chinese companies were carried on June 28. To view a full article or story, click on the link next to the headline.
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BMW (Frankfurt: BMWG): Breakneck Growth in China Is Over (English article)
US Lawmakers To Examine Smithfield (NYSE: SFD)-Shuanghui Deal (English article)
High inventories At Leading Smartphone Vendors May Cause Price War (English article)
Datang Telecom (Shanghai: 600198) To Acquire Gaming Firm Yaowan (English article)
Suning.com (Shenzhen: 002024) To Test Electronic Receipts in August (English article)
The following press releases and media reports about Chinese companies were carried on June 20-22. To view a full article or story, click on the link next to the headline.
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Spreadtrum (Nasdaq: SPRD) Announces Receipt of Acquisition Proposal (PRNewswire)
More US Senators Concerned By Shuanghui-Smithfield (NYSE: SFD) Deal (English article)
Regulator Says Alibaba’s Yu E Bao Product Violates Securities Rules (Chinese article)
China Mobile (HKEx: 941) Halts New User Registration For Skype-Like Jego (Chinese article)
Zynga China Reportedly Laid off 18 Pct Employees, GM to Resign (English article)
The following press releases and media reports about Chinese companies were carried on June 20. To view a full article or story, click on the link next to the headline.
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China’s Wanda To Spend $1.6 Bln On UK Yacht Maker, Hotel (English article)
GM (NYSE: GM) Aims For 10 Pct Of China’s Luxury Car Market By 2020 (English article)
The following press releases and media reports about Chinese companies were carried on June 15-17. To view a full article or story, click on the link next to the headline.
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EU Free-Trade States Urge Quick Resolution Of Chinese Solar Dispute (English article)
Beijing Warns Johnson & Johnson (NYSE: JNJ) Over Recall Double Standards (English article)
Bristol-Myers, Simcere (NYSE: SCR) To Co-Develop Orencia In China (PRNewswire)
Ming Yang (NYSE: MY) Announces Change Of CFO (PRNewswire)
Smithfield (NYSE: SFD) Profit Plunges After China Blocks Imports (English article)
Poultry plant tragedy casts spotlight on Shuanghui’s Smithfield buy
A major poultry plant disaster in northeaster Jilin province is casting an awkward spotlight on pork processor Shuanghui as it tries to convince wary US consumers and politicians of the benefits of its pending $7 billion purchase of US rival Smithfield Foods (NYSE: SFD). Not surprisingly, a US trade union representing many Smithfield workers has used the Chinese tragedy to issue a carefully worded statement implying that similar disasters could happen in the US if the Shuanghui-Smithfield merger proceeds. While this looks partly like politics, I personally believe the concerns aren’t completely groundless since China’s food industry doesn’t exactly have a strong track record for good business practices. Read Full Post…
The following press releases and media reports about Chinese companies were carried on June 1-3. To view a full article or story, click on the link next to the headline.
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Google (Nasdaq: GOOG) China To Resume Online Shopping Search Service – Source (English article)
Lenovo (HKEx: 992) Proposes Offer Of Dollar-Denominated Debt (HKEx announcement)
China Mobile (HKEx: 941), Vodafone Withdraw Myanmar License Bid (HKEx announcement)
Banks Said To Lend China’s Shuanghui $7 Bln For Smithfield (NYSE: SFD) Deal (English article)
China Mobile (HKEx: 941) New Jego App Eyes WeChat, Overseas Users (Chinese article)
China’s Shuanghui sets the table for Smithfield buy
China’s appetite for foreign food M&A is gaining momentum with news that meat processor ShuanghuiInternational has offered to buy US pork products maker Smithfield Foods (NYSE: SFD) for $4.7 billion. The deal would be the biggest purchase ever of a foreign food maker by a Chinese firm, following a recent spate of smaller but still major deals by names like Bright Food (Shanghai: 600597). But the deal drew controversy almost as soon as it was announced, with at least one US politician and an industry group voicing their concerns about the transaction. Read Full Post…
