금호,아시아니,마케팅,브랜드,브랜드마케팅,기업,서비스마케팅,글로벌,경영,시장,사례,swot,stp,4p

ty conversion’
_SLIDE_19_
Problem of M&A

3. Excessive dependence on FI
-’Put back option’
FI bought stock at 26,000 won per share of DAE WOO E&C in 2006
(option - pre-set price of 31,500 won per share in 2009 Dec)
BUT, trading below 13,000 won on the exercise date for the option

_SLIDE_20_
Problem of M&A

4. Failure to make synergy
_SLIDE_21_
Problem of M&A

5. Incomprehension and external crisis
-Real estate market is slow down

-Financial crisis in 2008
_SLIDE_22_
The Winner’s Curse
In short, the winner`s curse says that in such an auction, the winner will tend to overpay.

Conclusion
_SLIDE_23_
Conclusion
Now
Kumho Asians group sell
the Daewo Construction to
“Korea Development Bank”
Making stable management
_SLIDE_24_
Unstable
management
Conclusion
Now
_SLIDE_25_

Conclusion
To be succeed M&A
Purchasing at an affordable price

Synergy effect

Post Merger Integration
Fail
_SLIDE_26_
금호 아시아나 http://www.kumhoasiana.com

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