从2015年末王石内部讲话公开挑战宝能系,正式揭开万宝之争的大幕,到2017年6月,中国恒大转让14.07%的万科股份给深圳地铁,历经将近两年时间,万科大股东几经易主,万宝之争终于谢幕。有人说万宝之争无赢家,但作为中国A股市场历史上规模最大的一次公司并购与反并购攻防战,足以成为中国资本市场上的经典案例,而收购方和被收购方变幻多样的资本运作手法也足以令旁观者咀嚼、体会。 From the end of 2015, Wang Shi made his internal speech openly challenged Baoneng Department to formally unveil the war of Wanbao. By June 2017, China Evergrande transferred 14.07% of Vanke’s shares to Shenzhen Subway. After nearly two years, Vanke’s major shareholder After several changes, Marvin finally won the battle curtain call. Some people say there is no winner in the Wanbao competition, but as the largest merger and acquisition and anti-merger defense in the history of China’s A-share market, it is enough to become a classic case in the Chinese capital market. However, the capitalist operations of the acquirer and the acquiree vary greatly from one capital to another Practices are enough to make bystanders chew, experience.