Start with hooves

It took two or three days to prepare.

After some research.

Suri believes that the offer price of US$200 billion does not seem safe.

There are rumors from the outside world that last year Alibaba also tried to acquire Yahoo as a whole for US$250 billion, but was ultimately rejected by Yahoo's board of directors, so it chose to repurchase Alibaba shares at a high price at the beginning of this year.

In the past half year, Yahoo's stock price has fallen a lot, and its latest market value is less than 180 billion US dollars.

This led to a recent ranking that ranked Yahoo's board of directors as the first "worst board of directors in 2011". This shows how deep the resentment of countless trapped investors towards Yahoo's decision-makers is.

The reason why management is chaotic is mainly related to the character of founder Yang Zhiyuan.

As early as when he rejected Microsoft's acquisition invitation a few years ago, there was a lot of discussion from the outside world, accusing the founder of not making the decision out of the interests of shareholders, but because of personal emotions and not wanting to hand over Yahoo, which he created.

Later, in order to prevent the company from being sold, founder Jerry Yang also teamed up with a third-party company to acquire Yahoo shares to increase his voice and try to privatize and delist the company.

Judging from the current situation, the founder of Yahoo has obviously failed, and he has also completely lost his position as CEO of Yahoo because he offended Wall Street, causing many major shareholders and investors to lose money.

under these circumstances.

Suri felt that if he offered a high enough premium to make the shareholders who originally wanted to package and sell Yahoo become interested again, the chance of successfully acquiring it should be relatively high.

Thinking that Alibaba's valuation could skyrocket at any time, he gritted his teeth and set the acquisition price at between US$210 billion and US$230 billion.

Yahoo's board of directors is notoriously disunited. It has recently had abundant cash flow and launched new buyback and expansion plans, giving shareholders confidence.

Only by offering a high price can Yahoo executives reach an agreement as soon as possible. From Suri's point of view, it is better to make less than nothing.

After receiving the call.

David Levin, co-head of the investment banking department of Goldman Sachs Group, immediately flew over from New York.

David Levine acted as a second-in-command and leaked the news to Suri that the Hong Kong Monetary Authority was looking for cooperation with asset management companies. He successfully deceived his competitors and successfully became the co-head of the investment banking department and entered Goldman Sachs. The group’s executive ranks.

Later, Su Rui worked with him many times, and the relationship has always been very good. Recently, Goldman Sachs is responsible for the launch of the S electric car.

Pebble Beach Golf Course near Seventeen Mile Bay, California.

As one of the most famous golf courses in the world, it is located on the seaside and has stunning scenery.

Suri was busy swinging the tee shot. He had practiced it during his stay in Lanai. His golf skills had improved by leaps and bounds. He saw the white ball flying far away and landing just six or seven meters away from the hole with the flagpole. on the distant lawn.

The sun was a bit dazzling today. David Levine, wearing a peaked cap, applauded and told:

"What a perfect shot. You play with a coolness like Tiger Woods, and you are full of confidence." Suri spread his hands and said:
"I have a golf course of my own where I can practice often. What do you think of what I just talked to you about?"

David Levin nodded and said:
"If Yahoo is acquired by you, it is indeed possible to come back to life and create a new miracle. However, I suggest that you better get Caishen Capital together and let it jointly acquire it with your family office, because there are many common shareholders between the two, such as Vanguard, BlackRock, and Morgan Stanley will make negotiations smoother and reduce your own risks.”

Hand the club to the young and beautiful female caddy, step on the lawn and get on the golf cart.

Suri certainly knows this, replying to David Levine:
"I will look for them to cooperate, but not now. As you know, I am building an Internet ecological chain in the mainland. Due to the competition with Alibaba, Yahoo's Alibaba shares are of some use to me."

"If the acquisition of Yahoo is successfully completed, I can leave it to you to take charge of the subsequent splitting and reorganization, financing and sales, etc. Remember to give me a discount."

"Yahoo's problems are already serious. Before it is acquired by me, I hope it can cut off some departments and lay off some redundant employees. Then it can start over with a light load. In fact, I already have some ideas."

David Levine has been in the industry for many years, but has never personally been responsible for an acquisition of this scale. He was a little excited and said again:

"Yahoo's new CEO Marissa Mayer, I have dealt with her very early."

"Although she is a smart woman and has experience in managing large companies in Silicon Valley, I don't think she has the ability to turn the tide. Instead, she may exhaust Yahoo's cash reserves."

"Her ability cannot match her ambition. She has recently cooperated with consulting firms McKinsey and PricewaterhouseCoopers. It is said that she is interested in more than a dozen startups, hoping to attract users to these startups like Facebook and Google. here to help them succeed.”

Suri already knew about this and joked:

"Then I should take action quickly, lest I end up with a bunch of junk projects, which will further reduce the value of Yahoo. After you finish understanding the situation of this company, I want to invite Marissa Mayer out to have a chat. ”

David Levine nodded:
"Leave it to me. I have allocated a lot of people this time to be responsible for your transaction. In fact, SoftBank Group has always been interested in acquiring the remaining shares of Yahoo Japan. If you really want Alibaba's shares, maybe you can When the time comes, I can help you match up and exchange Yahoo’s shares in Yahoo Japan for part of SoftBank’s Alibaba shares. Then you will have the opportunity to become the largest shareholder of Alibaba Group.”

All I can say about this is that he is a professional and his brain is relatively flexible.

Suri knew that Yahoo held a large amount of equity in Yahoo Japan, and also knew that SoftBank Group held a large amount of Alibaba shares, but he had not thought about "exchanging shares" at all.

Let’s skip this topic for now.

Arriving near the hole, Su Rui picked up a club and asked, "Is there anyone outside talking about my business in China? How is the situation?"

David Levine said calmly:
"Because it is your business, Wall Street is particularly concerned about it. There are also people trying to contact our company, hoping to get some shares during the financing and listing and make a fortune with you. Only a few people pay attention to China Concept Stocks, and many investors have been deceived. , Muddy Waters Company seemed to have made more than US$7 million in net profits by shorting concept stocks some time ago.”

Suri is more concerned about China.

But in the eyes of most Americans, there seems to be only Silicon Valley in the world.

This is just like Chinese investors who do not pay attention to Bangalore, which is known as the "Silicon Valley of India". In fact, India accounts for more than 50% of the global software outsourcing industry. Last year, the scale of the industry was close to 1000 billion U.S. dollars, and many worthy companies have emerged. Potential stocks for investment (end of chapter)