Age of Dreams

Regardless of whether Bloomberg sincerely welcomes Xiao Qi, he also knows that Xiao Qi's participation in Bloomberg is an unstoppable thing. Therefore, letting go of the loss in his heart and starting a formal cooperation is the most in line with his own interests.

With Bloomberg’s relief, Merrill Lynch has no obstacles to the sale of 20% of Bloomberg’s shares.

However, due to the dilemma of Merrill Lynch’s huge losses, the purchase price is still set at 5 billion U.S. dollars, and it is in cash. Within three days of signing the contract, it will be credited to Merrill’s account.

Xiao Qi didn't have much resistance to more than a few hundred million and less than a few hundred million. After all, the acquisition of high-quality assets was difficult in itself, and there was no one that could be easily bought. He was deeply impressed by this.

However, he also made a request not to disclose the news for the time being, and wait until the acquisition of the shares of the Black Rock Group is reached at the same time, and then make it public.

It is natural that Merrill Lynch could not refuse, but they also hope to get this matter done as soon as possible, so as to fight for greater benefits for the company... ahem, but also to fight for more benefits for their board of directors.

Yes it is.

Most of Merrill Lynch’s previous directors are not inclined to sell shares in Black Rock Group, because this asset is better than Bloomberg, and Merrill Lynch is also the first shareholder of Black Rock Group, with more power than in Bloomberg. .

However, no matter how persistent they persist, they can't resist Xiao Qiyuan's endless stream of money and cannonball attacks.

Xiao Qi allocated a total of 300 million U.S. dollars to Carrillo Consulting Company, and told them that it was not enough. In order to complete the task as soon as possible, this group of lobbyists, money, antiques, real estate, etc., all changed their methods. Send up.

Coupled with many human relationships, such as classmates, friends, pillow style and so on. Let's add weight to convince, the power is not generalized.

As Thain thought, if Merrill Lynch is still the international investment banking giant, then these shells may not work, but the problem is that Merrill has become a sinking ship. Who doesn't want to plan for himself? Who doesn't want to disembark afterwards. Can I have a rich life in the second half of my life?

Therefore, the seven key directors who attacked, after Yizheng's verbal refusal many times, still shamelessly took the money Xiao Qi gave them, and then began to promote the sale plan in the board of directors.

The composition of the board of directors of Merrill Lynch is very complicated, but the seven of them all have their own power, and with the nominal boss of Thain, it is easy to occupy about 40% of the voting rights.

And the remaining directors with 60% voting rights, of course, it is impossible for everyone to be their enemy. Even if it is not their friends, but seeing that there is such a big trend, and selling the shares of the Black Rock Group, it is indeed good for them, so subconsciously following it is also very natural.

Therefore, Merrill Lynch basically once again reached the decision to sell 49.8% of the Black Rock Group's shares to Xiao Qi at a price of 12 billion U.S. dollars.

The only problem now lies on the board of directors of the Black Rock Group.

Beyond Xiao Qi's expectations. The Black Rock Group's resistance to this acquisition was unexpectedly strong.

Not only does formal contact have no effect. Even if the Carrillo Consulting Company went out in person, the gains were extremely limited. At most, only one or two people would reluctantly agree, but they only agreed when others proposed it. It is absolutely impossible for them to agree.

The board of directors of the Black Rock Group. In fact, they don't hold many shares of the Black Rock Group at all, and they add up to only 8%.

The largest shareholder of Black Rock Group is 49.8% of Merrill Lynch, and the second is the financial services group from Pennsylvania, which is also the largest investment banking group in the region. It may be worse than the five largest investment banks. But it is definitely one of the top 20 investment banks in the world, and it holds 31% of the shares of the Black Rock Group.

The two together accounted for 80% of the shares of the Black Rock Group. It stands to reason that everything can be decided, but in fact it is not the case.

If you want to put it this way, in 2006, the Black Rock Group also merged Merrill Lynch’s Merrill Lynch Investment Management Company. Many of its current directors were from Merrill Lynch. Then they are not opposed to this time. Acquisition?

The most important thing is that every time the Black Rock Group merges and reorganizes, it will put forward a prerequisite for the partners, that is, if the major shareholders want to sell the shares, they must obtain their consent, otherwise the shares cannot be sold!

Now the card is stuck in this place, and Xiao Qi also knows through Carrillo Consulting that the board of directors has other plans.

The black hand behind the scenes is the Black Stone Group that Xiao Qi wants to deal with.

As we all know, the Black Rock Group was originally created by the asset management part of the Blackstone Group, and many of the top executives in power were under the two bosses of the Blackstone Group.

Now that Merrill Lynch is about to collapse, the Blackstone Group wants to gather the Black Rock Group under its own banner again to further strengthen its strength.

The plan they proposed to the board of directors of the Black Rock Group was that after Merrill Lynch went bankrupt, the Black Rock Group would use its power to select the Black Rock Group among many competitors to purchase 49.8% of the shares at a low price, thereby realizing Black Rock and Black Rock. The merger.

The advantage given by the Blackstone Group is that the Blackstone Group will continue to operate independently in the future. The Blackstone Group is only responsible for overall decision-making, and will also allocate 5% of the shares of the Blackrock Group to the board of directors of the Blackrock Group. .

The 5% they gave is much better than Xiao Qi’s 1%-3%. More importantly, the management of the Black Rock Group also wants to keep their current power, and compared to Xiao Qi, they are more willing Believe in your previous bosses.

It is not Xiao Qi that is most unhappy about this, but Merrill Lynch.

Hurrah!

You originally had a part of it separated from me. The bottom line is that we belong to Merrill Lynch. As a result, now the wings are hardened. When the company needs you, it gives me the key to drop the chain?

Don't I want to sell it to pay off the debt, wait until I go bankrupt and then you can buy it at a low price?

How can there be such a good thing! ?

For a while, even the shareholders who had previously disagreed were filled with outrage and shouted to show the Heiyan Group some expressions. If the Heiyan Group did not agree, they would just turn their faces.

It is a pity that Merrill Lynch is no longer the Merrill Lynch it used to be. They are already shaky houses. Who would really put them in the eyes?

To put it bluntly, if it weren’t for Goldman Sachs, JPMorgan Chase, Morgan Stanley, Citi, Bank of America, etc. Wall Street giants, using Merrill Lynch and Lehman Brothers as a bargaining chip to fight Washington, they would have collapsed. Up!

For this kind of company, how can American companies that have always been very realistic, especially the largest asset management company like the Black Rock Group, put their threats in their eyes?

For rewards worth more than one billion U.S. dollars, and in order to fully control their own destiny in the future, most of the senior executives of the Black Rock Group have long been determined and must merge with the Black Rock Group!

Merrill Lynch was also deeply humiliated upon hearing this official reply.

The wall was pushed down by everyone, but it shouldn't be your own branch to take the lead, and it's still so indifferent and ruthless-well, although Wall Street has always been like this.

Therefore, Merrill Lynch also started the siege of the Black Rock Group.

On the morning of June 29, the Wall Street Journal kicked the Black Rock Group’s vice president of cash management, Stan Russell, confessed to the New York Superior Court that, in the past three years, the Black Rock Group has used various fraudulent concealment methods to confess its investors. The cash obtained from the proceeds was openly used as a bonus for the management, and the alleged amount was as high as 130 million U.S. dollars!

At the same time, the "New York Times" also broke a news that the Seventh Court of the US Federal Circuit also received a joint letter from 33 employees of the Black Rock Group's real estate consulting strategy department.

It shows that in the past 8 years, the Black Rock Group has deliberately misled investors and allowed them to enter this inherently high market, thereby earning a lot of service fees.

The price ordinary people paid for this was that they lost their money in the subprime mortgage crisis that began last year, and countless families went bankrupt.

As soon as these two news came out, they immediately caused an uproar throughout the United States.

For a long time, Americans have been deeply indignant about corporate executives receiving tens of millions or even hundreds of millions of dollars in dividends and equity incentives. Especially now in the subprime mortgage crisis, I don’t know how many people receive relief funds. As they live, they even have a hatred of high-paid people.

The Black Rock Group blatantly used investors’ money to give bonuses to itself. It can be said that it has lost people’s trust in them~www.readwn.com~ For a while, it stirred up a thousand waves, criticized the Black Rock Group and asked the US Federal Court to investigate them. The voice of fault and fraud in cash business immediately came out from all over the country.

Speaking of which, Americans are quite full and do nothing.

Many people originally had nothing to do with them, but they seemed to empathize with them and made protest statements on various occasions.

Even the unrelated people are like this, not to mention the customers of the Black Rock Group. They are as uncomfortable as eating flies.

Although the annual return of the Black Rock Group is not as generous as that of Mr. Buffett, it is still very good. The main threshold is much lower than that of Buffett, which is convenient for small and medium investors.

But now they know that this group of people is eating money in the middle, if it weren't the case, their profits would definitely be higher!

What's wrong with this?

As a result, the call of the Black Rock Group was directly blown by the angry people, and the lawyer's letter flew to them like snowflakes! (To be continued...)