1. The battle of Danone and Wahaha Su Hailiang Lai Yuejia

2. Contents PLOT ANALYSIS INSIGHT CONCLUSION

3. PLOT. Negotiation Contract In 1995 On February 29 th 1996 on March 28 th 1996. Peregrine Investments Holdings Contact Peregrine Danone WHH Employees 51% 49%

4. PLOT. DisputeSettlement In 1998 On April 2007 On September 30 th 2009 Peregrine collapsed Control 29 lawsuits Danone WHH Employees 51% 49%

5. A Try to snatch dominant control B Restrict Chinese brand C Buy out Chinese brand usufruct D Control promotion and sales channels Analysis

6. A Try to snatch dominant control B Restrict Chinese brand C Buy out Chinese brand usufruct D Control promotion and sales channels Control Give way to

7. A Try to snatch dominant control B Restrict Chinese brand C Buy out Chinese brand usufruct D Control promotion and sales channels

8. A Try to snatch dominant control B Restrict Chinese brand C Buy out Chinese brand usufruct D Control promotion and sales channels

9. A Try to snatch dominant control B Restrict Chinese brand C Buy out Chinese brand usufruct D Control promotion and sales channels

10. INSIGHT Introduction of capital, technology, brand and the international market channel. Comprehensive improvement on the ability of competition. Introduce a whole set of excellent company management and decision-making mechanism. Promote the corporate governance. POSITIVE EFFECTS Foreign capital merger and acquisition

11. INSIGHT Lead into the excessive centralization of the industry Come into being oligarchic or monopolistic operating Hold back the positive development of the domestic market. NEGATIVE EFFECTS Foreign capital merger and acquisition

12. INSIGHT Merge the important enterprises in the major industries of national economy. Do harm to the national economy security NEGATIVE EFFECTS Foreign capital merger and acquisition

13. INSIGHT Have a negative impact on the innovation, development and breakthrough of local enterprises Lead to the reducing of national brand NEGATIVE EFFECTS Foreign capital merger and acquisition

14. CONCLUSION Increase brand awareness 1 Hold on the right of exercise control 2 Maintain independence 3 Enhance innovation ability 4

15. Thank you for listening!