Property News · March 29, 2017

Shenzhen’s shield around Vanke should ward off hostile takeovers


Property giant China Vanke, the target of the most contentious takeover attempt in the country’s corporate history, has been declared a state-owned business directly controlled by the government of Shenzhen, elevating it to a status that could deter future raids.
Vanke was invited to a meeting with Shenzhen’s State-owned Assets Supervision and Administration Commission (SASAC) as a company under its supervision, according to a March 23 notice on its website.
The invitation sends a…

Source : South China Morning Post
Read more…Shenzhen’s shield around Vanke should ward off hostile takeovers

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