How is a share-for-share acquisition completed?

Equity Design – Zhihu (zhihu.com) HELLO, everyone! I’m SUNNY. Today, I continue sharing my reading notes from the book *Understanding Tax-Efficient Equity Design in One Book* (author: Li Liwei). The topic for this session is mergers and acquisitions—specifically, share-for-share acquisitions. In an M&A transaction, the two parties involved are the acquirer and the target company; the subject of the transaction is the equity of the target company; and the consideration paid may be either cash or equity—the latter being termed “equity-based consideration.” According to Cai Shui [2009] No. 59, “equity-based consideration” refers to the form of payment in enterprise restructuring where one party (e.g., the acquiring party) uses its own equity or the equity of its controlled subsidiary as consideration for purchasing or exchanging assets. Thus, equity-based consideration takes two forms: (1) using the acquirer’s own equity as consideration; or (2) using the equity of its controlled subsidiary as consideration. When the acquirer uses its own equity as consideration, the transaction is called a “share-for-share acquisition”; when it uses the equity of its controlled subsidiary as consideration, the transaction is termed a “share swap.” What exactly does “using one’s own equity as consideration” mean? We’ll clarify this through the following case involving Star Company. Sun Company owns Moon Company as its wholly owned subsidiary, valued at RMB 900 million. River Company recently established Star Company, which has fully paid-in registered capital of RMB 100 million. Star Company has not yet commenced operations; apart from RMB 100 million in bank deposits, it holds no other assets. Star Company intends to negotiate with Sun Company to acquire Sun Company’s 100% equity stake in Moon Company, thereby making Moon Company its wholly owned subsidiary.

Which listed companies are related to electronic specialty gases?

Japan Oxygen Holdings | Air Products | Air Liquide | Linde As core materials for semiconductor etching, deposition, cleaning, and ion implantation, electronic specialty gases are dominated in the high-end global market by these four major overseas giants. Domestically, Chinese firms have achieved leading global production capacity in several major gas varieties, and certification for advanced process nodes continues to progress.

B. Riley Wealth Advisors Inc. Acquires 3,002 Shares of Linde PLC

15 hours ago

B. Riley Wealth Advisors acquired 3,002 shares of industrial gas giant Linde PLC worth approximately $1.425 million in the third quarter. Analysts maintain a bullish outlook citing strong earnings and favorable positioning in the industrial gases market.

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