Rebirth 79: I opened a bank in the United States

Chapter 339 Leveraged Mergers and Acquisitions Are Not the Purpose (Addition 8)

"Our Great Bay Capital pledges to raise 500 million yuan!"

"Rowling Ventures, 400 million!"

"Fidelity, 2400 million! Fidelity Magellan Fund, 200 million!"

The voices of a group of people in Boston interrupted the discussion at the meeting, especially after Fidelity Smith's voice came out, everyone's eyes were focused on him.

"The 2700 million that Mr. Black said just now is us"

Facing everyone's surprised eyes, Smith continued to make up the knife with a smile:

"In addition, we at Fidelity are honored to have reached a market-making contract with HT Company to sell HT Company's stock on our behalf!"

As soon as these words came out, the faces of the representatives of Goldman Sachs and other big investment banks darkened visibly to the naked eye.The NYSE is different from Nasdaq in that although it also has a market maker system, Nasdaq implements a multi-market maker system, that is, a company can have multiple market makers to serve it.It is not new for some companies to be listed directly with four or fifty market makers.

However, in the New York Stock Exchange, a Specialist system with a certain monopoly nature is implemented, that is, only one expert, that is, a market maker, can make a market for a stock.In this way, while ensuring the minimum liquidity of stocks, it also intensifies competition among market makers for high-quality stocks.

At this time, hearing that the market maker had been secretly stolen by such a big-eyed guy like Fidelity, the people from Goldman Sachs and Morgan Stanley looked at each other, unexpectedly feeling that the other party didn't seem so hateful
"Hehe, it's okay! It's really okay! Let me tell you, since you HT have already negotiated with Boston, why did you ask us to come here? Wasting time?"

Listening to the quotations from the group of Bostonians one after another, the representative of Morgan Stanley, who saw his market maker qualification being robbed, was annoyed, and couldn't help but uttered strange words and began to run.

Carter can only act as if he didn't hear it.
After all, the current situation is indeed a bit like joining forces with Fidelity to invest, and then attracting a vote of Boston boys to join forces.It makes people in New York have to suffer from high valuations, and they are a little bit complaining, and Carter understands.

In addition, Morgan Stanley's reputation in recent years has not been very good. If it is not necessary, Carter does not want to provoke them
It’s just that Carter doesn’t speak, and I don’t know if it’s because of grievances, or because the Bostonians who want to take the opportunity to squeeze out New York’s capital may not be able to speak:

"I think it's a waste of time, just go straight! There is no security guard at the door to stop you"

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"Kravis, do you think Morgan's people will do anything after being bullied like this?"

"You intend to intensify their conflict, and then follow up when Morgan makes a move."

"That's right! Boston. Except that First Boston is now aware of the role of leverage in mergers and acquisitions, people like Fidelity. This HT is a big cash cow! Let's talk to that Genus in private. Presumably he doesn't want to live under others for a long time, and be oppressed by a brat?"

When one side of the conference room turned into a vegetable market, there was another small corner that no one noticed. KKR's Roberts was whispering his thoughts to Kravis beside him.

"Judging from the current situation, the post-transaction valuation of 2.6 million yuan should not be lost. If we raise 59.18 million US dollars, that boy's equity can be diluted to [-]%. If I can take the opportunity to push for a higher financing amount .This ratio will be reduced."

"Next, the B round, or after the listing, I don't know the kid's complete financing plan, but it is very likely that his shares will be diluted to less than 50%, and then we will"

"Bro, wait a minute! I don't think HT is a good target"

Interrupting his cousin Roberts' speech, Kravis frowned and analyzed:
"Didn't you notice the reaction of the group of Bostonians just now? That kid should have just settled Fidelity ahead of time. I don't know what the Fidelity people said later, which made them change from dissatisfaction to approval in an instant. "

"You mean, what else did that guy promise Boston?"

"Maybe it's not good?"

Kravis looked at Carter, who was sitting in his seat with his arms folded, watching the two or three groups of people spitting at each other.Coincidentally, as if feeling the prying eyes, Carter also turned his head at this time and looked at Kravis
"I think it should be that he has some dreadful hole cards! Think about it, if he promised benefits, why didn't he say it earlier? Do you have to wait until the meeting starts, and then someone from Fidelity will relay it? He is not afraid of himself. The benefits given, are others dissatisfied?"

He showed a kind smile at Carter, and when Carter smiled back and turned his eyes away, the smile on Kravis's face disappeared instantly.

"Instead of thinking about how to do mergers and acquisitions with Morgan now, it's better to think about our current income! The previous few investments have not improved! This time, HT, we can't miss it!"

"Are you so interested in its short-term benefits?"

Roberts frowned. This cousin, who was more greedy than himself in the past, actually lost his desire for this kind of cash cow?
what's the situation? !

"That's right, in my opinion, this kid can't wait for the B round at all. In other words, he doesn't need it, doesn't he need the second round of financing, doesn't he? At most one and a half years, HT will be listed, when the time comes for these stocks The realized income can at least solve our current problems. As for whether there is a chance to operate it in the future, let’s see in the future, anyway, at this stage, you can’t operate it! Its equity is too concentrated!”

"Only companies with dispersed ownership and separation of management from all layers are our best hunting targets. But before that, you don't forget that for us, leveraged acquisitions are not the goal. We just don't want to use [-]% of the capital. To buy a business, the money should be spent where it can create value! Don’t go astray!”

"From this point of view, I have something in common with this young man named Carter. At least, he understands that only by giving equity to the management can the interests of the management be aligned with the interests of the company's shareholders. It's just... a bit petty. , he should distribute more shares, instead of only giving Mr. Jinas, in that way, this company is almost perfect in my eyes!"

"There is no disagreement within him; his cash flow is stable and sufficient; his production and supply are guaranteed; the products he sells just meet the needs of the market Roberts, if you think about it, you can still see in today's market To a company like this?"

After half summarizing, half teaching, Kravis raised his palm:

"Mr. Black, we kkr want to invest 400 million US dollars, is that okay?"

Sit on the wall and quietly watch Carter, from the quarrel between New York and Boston, to the malicious merger of "Black Knight" and "White Knight".In addition to lamenting the strong geographical color and camp color in this era of underdeveloped communication.

Facing the collective silence, or the New York capital representatives who were fully focused on the confrontation, Carter really had nothing to do.At this time, I heard that kkr from New York took the initiative to confess.Immediately overjoyed:
"Yes! Of course! Thank you very much Mr. Kravis for trusting us!"

　Push book: "If you are targeted by a cold and beautiful girl"

　　Dog food article, the content involves psychic.

　　The male protagonist hides the boss, while the female protagonist is a cool goddess on the surface, but she is actually a calm and pitiful girl.

　　Original author: (You can write comments on the author in this place, remember to praise me) I: (Look at this silly comment!)
　　The writing is very good, the emotions are delicate, and the interaction between the hero and the heroine is so sweet after confirming the relationship. Welcome all the elders to check it out. While eating dog food, it can also be used as a love textbook to learn (bad smile).

　　
　
(End of this chapter)