On June 16th, Sannuo Biological held an investor briefing on the termination of the planning of major asset restructuring with on-site interactive means, and announced the announcement of relevant questions and answers in the morning. This explanation will be aimed at the issue of the suspension of the three-month suspension of Sannuo Biological's acquisition of overseas assets for abortion on June 11. The company failed to successfully bid for the underlying assets and business and decided to terminate this major asset restructuring.
Although Sanno has never officially announced who the target of major assets, but the industry is known to be Bayer's blood glucose meter business. As early as May of this year, Bloomberg and other foreign media reported that China's domestic blood glucose meter leader Sannuo Bio intends to invest 1 billion US dollars to bid for the German Bayer Group's diabetes care business. However a sieve, the Bayer Group today announced it has signed a definitive agreement with Panasonic Healthcare (Panasonic Healthcare), will be its diabetes care business to 1.022 billion euros (US $ 1.161 billion) sale, including the flagship product Contour Series blood glucose meter and Breeze2, Elite, Microlet and other brand puncture equipment. This also marks the news that Sannuo Biological's acquisition of overseas Bayer Group's diabetes care business has been defeated.
Despite the failure of the “snake swallowâ€-style acquisition plan, Sanno is not willing to interpret it as “failureâ€. In response to the question of investors “what is the biggest reason for the failure of this acquisitionâ€, Sanno said: “The acquisition did not achieve the final success, but the company has accumulated a lot of valuable experience. The overseas merger is very complicated. There are many decisive factors in the bidding of overseas assets and business acquisitions, not just because of the price. The transaction without the final success is not a failure. Sannuo Bio can enter the final stage of the bidding. The company has the potential to achieve internationalization, which will also provide valuable experience and rapid response capabilities for future companies to participate in international acquisitions."
Counting the loss of the acquisition, Sannuo Bio has launched three mergers and acquisitions since its listing, two of which failed, one time is not significant. In response to the low success rate of international restructuring and mergers, how to improve the success rate of M&A in the future, Sanno said, “M&A needs to comprehensively consider whether it meets the strategic objectives of the company. Where are the synergies between companies? The resources (talent, innovation, capital, etc.) and other issues, the company has accumulated valuable experience in the process of participating in overseas asset bidding. If there is a suitable target in the future, it will work harder to achieve success."
Sannuo Bio said that the company's subsidiary Sannuo Health will serve the company's strategy of entering the medical service field and exploring the diabetes chronic disease management model. Sannuo Health plans to explore diabetes services based on Beijing Sannuo Jianheng Diabetes Hospital. In the future, the company will invest more energy in diabetes services.
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