Rebirth of England.

Chapter 709 Absolute Control
October 10th is Barron’s birthday.

Before this day, Caesars Fund finally reached an agreement with France's Vivendi Group. They will complete the acquisition of 75% of Activision Blizzard's shares held by Vivendi Group for US$61 billion.

This price is about 13% premium to Activision Blizzard's current market value and slightly lower than the US$81 billion asking price previously requested by Vivendi Group.

This is also one of the results of the negotiations between Caesars Fund and Vivendi Group over this period of time.

In addition, before this, Caesar Fund had also acquired about 5% of Activision Blizzard's shares through the secondary market. Activision Blizzard is a listed company. After the stock price fell during the subprime mortgage crisis, its stock price has risen significantly due to the stable performance of "World of Warcraft".

In this way, after completing the acquisition agreement with the Vendy Group, Caesars Fund will hold approximately 66% of Activision Blizzard's shares. This also means that as long as they acquire a few more shares, they will be able to achieve absolute control over Activision Blizzard.

By that time, Caesars Fund will have almost all control over Activision Blizzard, the world's top gaming company.

Of course, the Caesars Fund itself is mainly focused on investment and will not be deeply involved in the operation of Activision Blizzard. At most, it will provide some opinions.

Therefore, before this, they had already had in-depth communication with the management of Activision Blizzard and reached a tacit understanding with them - after the acquisition, Caesars Fund would not interfere too much in the company's operations in a short period of time.

Although Baron knew that Activision Blizzard's future operations would not be very satisfactory, there were also some areas that were worthy of criticism.

But his acquisition of Activision Blizzard itself was a layout for the gaming industry. He did not think that if he ran the company personally, he would do better than the current management.

Besides, he simply doesn't have that much energy to do all this. He owns so many businesses. If he does all this, he won't have enough time and energy even if he doesn't eat or drink.

Therefore, it would be better to let Activision Blizzard maintain its original operations, as long as Caesars Foundation provides corresponding supervision.

"Activision Blizzard's management had intended to acquire Vivendi Group's shares in Activision Blizzard through an MBO, but because Vivendi Group's asking price was too high and the bank consortiums were very cautious at this stage, they all considered the financing too risky after evaluation, so it did not succeed..."

Pat Friedman, CEO of Caesars Investment Management, told Barron’s.

The so-called MBO refers to Management Buy-Outs (MBO).

That is, the managers and management of the target company use the raised capital to purchase the company's shares to achieve changes in the company's ownership structure, control structure and asset structure, so that the managers can lead the reorganization of the company as both owners and operators, and then obtain the expected returns on property rights.

To put it simply, it is a way for the company's managers to obtain funds through some financing methods, acquire the company's shares, and thus gain control of the company.

The reason they did this was because before this, Activision Blizzard's management had some disagreements with its major shareholder Vivendi Group on the company's operations, so they hoped to acquire the other party's shares and thus force Vivendi Group out.

However, although their MBO was not successful, after Caesars Investments acquired Vivendi Group's shares in Activision Blizzard, it replaced Vivendi Group as the controlling shareholder of Activision Blizzard.

The Caesars Fund seems to be different from the Vivendi Group. They do not have much desire to control the operations of Activision Blizzard, but instead give most of the power to the company's management.

Therefore, this result also makes Activision Blizzard's management very satisfied.

……

Now that Barron has more women, the only thing is that he becomes busier on birthdays and holidays - not only him, but also Zhang Junning, Barron's personal assistant, becomes busy as well.

If it was just the "canary", his assistant would be able to handle it and just arrange some gifts.

But there are still many women with whom he has a closer relationship, who need him to spend time and energy to deal with. But no matter what, Barron always leaves the most important time for his wife Bonnie... now his ex-wife.

Before I knew it, more than seven years had passed since I came into this world, and Barron had reached the age of 7.

Apart from the changes in his status and wealth, and the calm temperament of a superior that resulted from them, Barron's appearance does not seem to have changed much, and he still maintains a youthful state and a perfect figure.

However, in order to better match his current identity, Barron also began to grow a beard, which made him look more mature and elegant.

George Cavendish is now three and a half years old. Compared to his younger brother Richard Cavendish, he looks like a little adult, with an angelic and cute face. Anyone who sees him would want to pinch his cheeks.

At this moment, he was looking at the birthday cake on the table with anticipation, and congratulating his father Barron on his birthday in his childish voice.

Bonnie held her youngest son Richard in her arms, staring at the scene in front of her, her eyes full of happiness.

Little Richard babbled something and stretched out his little hand towards the cake, but Bonnie pulled him back into her arms lovingly and kissed him on the face.

……

At the same time in Paris, also in a magnificent mansion, the atmosphere was not as warm as Barron's home. Instead, it seemed to be depressing everywhere.

“I want to know how it happened.”

Benjamin Rothschild said expressionlessly as he looked at his men in front of him.

"Sir, we are investigating..."

“Are you just starting the investigation now?”

Benjamin suppressed his anger and asked:

"What's wrong with the bank's regulatory system? Why didn't they discover such a huge loss until that bastard disappeared?"

"Well, the trader named Pete used fake accounts to deceive the regulators, and we occasionally do this when we conduct some... transactions, so..."

With a bang, Benjamin grabbed the cup on the table and threw it to the ground, then asked with gritted teeth:

"So our risk control system is useless? A random trader can cause us a loss of more than 30 billion euros?!"

"Sir, I promise to find that Pete and investigate the whole matter thoroughly..."

"This must be done. Besides, I also need to know the specific losses. Also, I need to review all investments of the entire NM Rothschild Bank. I don't want this kind of thing to happen again..."

Benjamin looked at the other party coldly and said:
"We must know whether this was an accident or premeditated!"

(End of this chapter)