首页 News 正文

After Huawei's opposition and Nokia's active termination, the 8-month entanglement of Dongfang Materials in the acquisition of 51% equity of TD TECH held by Nokia for 2.1 billion yuan has finally settled: the transaction is terminated, and both parties withdraw, waive, and waive all claims, rights, and demands against the other party arising from this transaction.
The core reason for the termination of this transaction is that Huawei, the remaining 49% equity holder of TD TECH, refuses to cooperate with Dongfang Materials in TD TECH. According to the equity transfer agreement signed between Dongfang Materials and Nokia earlier, if the agreement delivery cannot be completed due to Dongfang Materials reasons, Dongfang Materials needs to pay a termination fee of RMB 29 million to RMB 84.864 million to Nokia.
Now, it appears that after the two parties settle and terminate the exemption from liability, Oriental Materials will save this termination fee. However, prior to the release of the acquisition plan, the stock price of Oriental Materials was still at its peak in 2023 on April 7th, at 44.32 yuan per share. On December 19th, the latest stock price of Oriental Materials was 26.34 yuan per share.
On the evening of December 19th, Oriental Materials announced the latest announcement confirming the termination of this transaction, and both parties have withdrawn, waived, and waived all claims, rights, and demands against the other party arising from this transaction. The company will also terminate the previously disclosed supporting private placement fundraising plan.
Looking back on the past, on the evening of April 9th this year, Oriental Materials, which has been operating in the ink industry for many years, suddenly announced its intention to purchase its 51% equity in TD TECH from Nokia for a transaction consideration of 2.1 billion yuan. The trading partner is Nokia, and the remaining 49% equity in TD TECH is held by Huawei. The directors of its wholly-owned core subsidiary, Dingqiao Communication, include Huawei executives such as Xu Zhijun and Deng Biao.
According to official website information, Dingqiao Communication was founded in 2005 and is committed to becoming a global leader in industry connectivity solutions. Its business segments include terminal products, industry wireless, and the Internet of Things.
But this acquisition case faced strong opposition from Huawei. On the night of the disclosure announcement by Oriental Materials, Huawei issued an official statement stating: "Our company has no intention or possibility of jointly operating TD TECH with New Oriental New Materials. We are evaluating the relevant situation and have the right to take follow-up measures, including but not limited to selling all shares and withdrawing, terminating relevant technology authorizations for TD TECH and its subsidiaries, etc."
Huawei stated on its official website that the joint operation of TD TECH between Huawei and Nokia is based on the strategic cooperation, technical strength, and global sales and service capabilities of both parties; Huawei agrees with Nokia's sale of equity, but buyers of equity must have the same strategic capabilities to have the foundation to continue existing cooperation.
Dongfang Materials stated that the termination of this transaction was a timely choice made based on the future development plans of both parties and the company's current strategic direction considerations. The termination of this acquisition does not harm the interests of the company or small and medium-sized shareholders, nor will it have a significant adverse impact on the company's financial condition and operating results. At the same time, the company has decided to terminate the issuance of stocks to specific targets.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
您需要登录后才可以回帖 登录 | 立即注册

本版积分规则

忧郁草民乜 新手上路
  • 粉丝

    0

  • 关注

    0

  • 主题

    1