The company stated in the announcement that both parties involved in the acquisition project are actively discussing the acquisition and finally decided to terminate the acquisition. Prior to this, Linglong Tire issued a suspension announcement on November 14 due to plans to acquire overseas assets. On November 19, the company said that it was the equity of a tire manufacturing company in South Korea that it planned to acquire and that it had completed the first round of quotations. As for the real reason for the sudden withdrawal of the acquisition, Linglong Tire expressed three aspects: the loss of the target company’s operating performance; better circumventing the risk of overseas investment; and protecting the interests of investors. There are not many tire manufacturers in Korea. There is a Kumho Tire company. People based on this analysis, exquisite tires should also be joined in the battle for equity in Kumho. At present, the situation regarding the bidder of Kumho Tire is still not clear. Five companies are said to have been shortlisted. After Linglong Tire withdrew, there were still two Chinese companies in the bidding camp: China Chemical Industry and Qingdao Double Star. Wheel Loader,Powerful Weichai Engine,Powerful Changchai Engine,Construction Machinery Miliscorp Industry Ltd , https://www.mctowercrane.com
Delicate Tire 2016 China Truck Open
Linglong tires exit Kumho equity battle
On November 25, 2016, Shandong Linglong Tire Co., Ltd. issued an announcement to inform the progress of the acquisition of assets, and announced the resumption of trading from the opening of the market on November 28.