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要约收购是2003年中国股市出现的“新生事物”。可是,同国际股市要约收购引发热烈追捧相反的是,在中国,凡宣布实施要约收购的,股价却一跌再跌。2003年发生的四起要约收购,除南钢股份因钢铁股总体大涨外,其他三例的流通股东竟要承受30%-40%的市值损失。
The tender offer was a “new birth” to the Chinese stock market in 2003. However, contrary to the upsurge in the international stock market tender offer, in China, where the announcement of the tender offer is implemented, the stock price falls and falls. In 2003, four takeover offers occurred. Except for the overall steel and steel stocks soaring, the other three circulating shareholders suffered a 30% -40% market cap loss.