Salted Fish’s Self-help Strategy

It is a terrible thing to fall into the pit and continue to lose money, just like many shops that follow Mr. Hippo’s seafood tanks, fall into the big pit dug by Ali without knowing it. At this point, the negotiators created by Chu Yuanxi have become very vivid, rational and objective, not only for self, but also for the interests of partners. Even if this is not optimal, never dig holes.

In mergers and acquisitions, we are not afraid of price differences, but there are countless pits. The larger the volume, the more likely it is to have pits. Therefore, Pakistani Games is a very good target for mergers and acquisitions, because it is extremely transparent and not easy to get pitted.

Lao Fan was very happy for his decision to jump out of the pit decisively. He only heard Chu Yuanxi say: "The price is three or four billion."

"You've worked so hard to add 4 billion?" Lao Fan is confused. Although their starting price is not low at 30 billion, but for business, there is a counter-offer if there is an open price. Normally, it is more than 10%. The price increase is also normal. In other words, when there is no small game IP plan in Pakistani games, the number of 340 is not impossible to talk about, but it is not easy to talk about.

What's more, 34 billion is really high for a non-listed company. Jack has to come out and talk about it as usual, but now this time is very special, Jack has just retired, and Xiaoyaozi did not move around when he took office. Mind.

However, in the case of high and low scores, if you can promote an independent spin-off or list in Lingxi, it will basically be a stable profit without losing the business, and you will definitely not lose money in terms of money, and you can get the assets of Pakistani games. , IP and genes.

I saw that Chu Yuan could not help but sigh: "It seems that I am losing. You earn, you earn. But I still have some business conditions. Let's wait for the business manager to discuss something." In fact, he settled the bill. The method is more rational. If Ali has agreed since August, then 340 will be less, but after a few months, the game company still has more than 700 million revenues per month.

What inevitably happens before the merger is that Pakistani Games must make an important round of dividends, and the target of the merger cannot contain cash.

Lao Fanxin said that he did make a profit, and he had to make a quick profit for this big bargain. He immediately called the business managers back, and then the business of both parties reported to his boss.

Before the negotiation, Chu Yuanxi had given the opportunity to face to face. They all acted by chance. Instead, Lao Fan's business was just tricks and tricks, so he reported more.

Soon, Lao Fan frowned and asked, "That... the IP that DreamWorks cooperated with you, "Enemies of Rome", don't you install it? I thought it was in it too."

"Oh, do you still know that IP? That is obviously not installed. Can it be installed at this price? Think about it? Besides, the value of that IP is far from the top. The overseas We-media account hasn't been charged yet. It’s not now if you want to sell." Chu Yuanxi's face was ruddy, "This type of cooperation leaves all copyrights in his hands. There are only two cases across the country. Only two of them happen to our company. Don’t we keep one? We? The game sold to you is a Pakistani game, not a Pakistani copyright..."

While speaking, Chu Yuanxi slapped his uncle on the shoulder, "The copyright of the Ba people is here. Look at this man with big eyebrows and big eyes, how much is it?"

Uncle Sheng had to laugh awkwardly.

Lao Fan found that there was nothing to say, Chu Yuanxi was already so kind, and there was no reason to ask too much. Although there have been rumors that "Enemies of Rome" will also develop a game, it is nothing as far as the status quo is concerned. Even if there is a shadow, it is useless, because the last time the Pakistani Group has to continue to develop the game after selling the Pakistani game.

Moreover, a preliminary consensus has been reached through online communication before coming to the meeting, which certainly cannot be stopped. First of all, it was useless to stop, and secondly, Chu Yuanxi didn't want to play word games, and she was confident, and we had to insist on it and not talk about it. We didn't have to sell it.

Therefore, this business negotiation mainly talks about what the Pakistani Group needs to avoid when the two parties are playing games. As the party who sells for cash, it must have the obligation to avoid.

In this regard, the Pakistani people are not entangled here. The big entertainment proposed to avoid the mini games. The Pakistani business, which had been prepared, immediately proposed that the Pakistani group agreed not to develop new mini games in the next two years.

Two years is still a bit short, but it is acceptable. However, the Pakistani people have clearly developed four mini-games, corresponding to three IPs, but the business negotiations clearly proposed to retain the upcoming "Wu Dao Hunjun", and the IP and game assets must remain in the Pakistani group.

In other words, the actual condition is that no more mini games will be developed after "Wu Dao Hun Jun".

"Hey, this is weird, why are you guys?" Lao Fan felt a little bit out of the way. I have never heard of this IP because it hasn't been online yet.

"Because...because you ask us to avoid the entire type of mini-games, including all idle games, WeChat mini-games, and operation-based light games, etc." Chu Yuanxi said helplessly.

"Does it matter?"

"Yes, we gave you the entire "Unwinding in the Wind", we must not let us continue to use it, right? "Animal Company" was also given to you, and you also cut off the way to make our mini game IP. We have to evade for two years. Then we reserve the right to continue developing the game, what shall we do?

There must be something to do, right? We also have difficulties. Doesn't it happen that "Wu Dao Faun Jun" hasn't been launched yet, just keep this. Or don't evade it at all, everyone has their own ability, and then we will give you this, simple and refreshing, what do you think? Or "Out of the Mountains" still allows us to use it. "

Lao Fanxin said that's not great! Is it co-authored or am I forced?

"Then agree." He looked back at the businessmen and asked, "There is no question of principle?"

There is no principle issue on his side, but Chu Yuanxi has. Chu Yuanxi waited for the business people to leave, continue to discuss the cooperation details, and then smiled sweetly at Lao Fan: "President Fan, I still have a ruthless please."

"Go ahead, what's the matter?"

"The manager of Pakistani Games is called Zhao Jie, my brother, I will help him ask how he is positioned after passing."

"What do you mean, right?" Lao Fanxin said, how else can you position it? Isn't all mergers and acquisitions in this area just a few forms?

"No, Zhao Jie didn't take the shares of Pakistani Games. This company is a wholly-owned subsidiary, and everyone took the shares and options of the Pakistani Group."

"I'm convex (艹艹艹)!"

Lao Fan almost vomited blood, never expected Chu Yuanxi to manage the company like this? This problem is so big that it does not apply to any common methods at all.

Of course, there is also a way, which is to give Zhao Jie and other backbones new incentives while trading. The problem is thanks to this!

If it is assumed that the upper and lower employees of Pakistani Game originally held the 10% option of Pakistani Game, how much will Ali pay the Pakistani Group after the merger? Give 30.6 billion, because 340 is the total price.

This part of the option is settled in five years. Even if the Pakistani game has changed hands, employees still have to work hard for more than four years before they can gradually cash out. Therefore, the money must be kept in Ali's account. It is impossible to give the complete 34 billion to the Pakistani Group, otherwise it will become Chu Yuanxi's payment to Ali employees in the next four years, completely messy.

But not now, new incentives must be a big entertainment. Isn't this a price increase in disguise?

"Oh, it's not right!" Lao Fan suddenly exclaimed, "If we don't give Zhao Jie the manager and incentives, how can Zhao Jie's option in the Pakistani Group be honored? You can't sell it because of the subsidiary, and he will come to us. When the edge comes, just hack his parent company options, right?"

"It certainly can't be like this."

"Then you didn't make money like this." Lao Fan doesn't understand. If you can't hack the parent company's options, assuming Ali accepts this condition in full, Ali will certainly provide an extra incentive, but the Pakistani people still have to bear the parent company's options. When cashing out, it is only the employees who benefit, the old options are cashed out, and the newer Ali’s incentives are not cool? Chu Yuanxi couldn't be so stupid, right?

"That's why I asked you about his job position." Chu Yuanxi rubbed her hands excitedly, "The other brothers have fewer options, I mean to negotiate with them. Zhao Jie has too many options for negotiation. It's too troublesome.

If you have to ask him for it, then I will discuss with him a way, how to exchange it, and exchange the options of the Taberen Group to the Pakistani game. But it's more strenuous, we have to talk again internally. If you don’t need it, let him stay in the Pakistani group and it’s over. I’ll make it easy. I don’t think you are particularly entangled in this aspect when you do mergers and acquisitions. You can do it after the handover is complete, so it can be convenient for me. "

Lao Fanxin said, why don't we struggle? We just don't absorb it. It is necessary to do a good handover. After the handover, we will get together and disperse!

But considering that Chu Yuanxi was so easy to talk before, he looked strange, "You, keep him, so that he can re-establish a game company?"

Seeing Lao Fan's expression of "Why are you so smart", Chu Yuanxi couldn't help but smile, "No, no, I actually have other candidates, Zhao Jie I left him as a platform. In fact, he is a project manager. After I grouped Pakistani entertainment into a group, it was just a structure grouping. I clarified the relationship and performance of each other, which is convenient for me to manage, and there is no change in people.

Zhao Jie has always been a project manager, but his title is CEO. In fact, I did the internal structure of the branch, and I had to build it for the reconstruction. He didn't know this at all, and just maintained the daily operation. And Zhao Jie has been working on the "Stupid Bird Flying" recently, but it went live on the street. Remaining in Pakistan does not affect the handover. Wang Le is completely holding it. Now Wang Le knows the "Troubled Times" project better than him. . "

Wang Le used to be the Sankei of "Troubled Times". After the corporate reorganization, he became the project manager of this project because the original project manager Yu Wenhui was pulled out by Chu Yuanxi.

"This loss cannot be eaten by our family." Lao Fan could not regress without principle on the issue of principle, but considering Zhao Jie's particularity, he thought about it and said: "Zhao Jie's arrangements are up to you, but other employees' Option, you have to replace part of it in the Pakistani game as a future incentive plan, otherwise we will be too passive."

If Chu Yuanxi didn't replace it, and the bull's temper was guilty, all the options of the brothers would be realized. Where is Ali passive? From the perspective of the company, what can be seen is that these new employees who have acquired the acquisition suddenly received a large amount of cash, and it was not theirs. So the question is, how big is the new incentive setting to satisfy the appetite of these people? Too many, not in line with their actual value, less people look down on.

This is the reason in Lao Fan's heart (艹艹艹).

Similar requirements were also expected by Chu Yuanxi. It is strange that Lao Fan didn't mention it. If he didn't mention it, he couldn't explain it after he returned. The price and terms are two different things, and the price can be negotiated. It is impossible for the big entertainment to sign the funeral and insult the country. Terms.

So he came up with a plan he had prepared long ago: "I have thought about this too, or I will fulfill half of it, but in fact it is not much. It is far from financial freedom."

"Okay, let the business negotiate a condition, but you can continue to promote it?" Lao Fan felt that it was already cheap anyway. All these are trivial matters. Ali is a dreamer who wants to spread to the cultural field. The Big Mac, "Out of the Wind" is the top priority, and the decision is 3 of 340 instead of 4. Moreover, it is true that according to Ali's tone, Zhao Jie is not really needed. To a certain extent, Zhao Jie's job vacancy is more convenient to operate.

"Don't worry, they are all brothers. What can't be said? It's nothing more than how to talk specifically." Chu Yuanxi said with a smile on his face.

Looking at Chu Yuanxi’s heartfelt smile from the heart, Uncle Sheng sat behind him, thinking in his heart: If the company is playing a rogue, the employees simply can’t stand it...

So he quickly witnessed an epic merger and acquisition plan reached a plan, but the transaction will not start immediately, there are a series of procedures and procedures such as due diligence. Because the amount is huge and the involvement is also very high, especially some of the WeChat accounts that belong to Pakistani Games are involved in WeChat, which may cause more sensitive issues. Therefore, the two sides continue to PK on the 24th business to draft TS as soon as possible.

TermSheet does not have legal effect, but if you don’t sign TS, Pakistani Games will definitely not unlock its core data for the acquirer. Want to see my core data with only one acquisition intention? That doesn't exist.

Therefore, on the 24th, it is necessary to draw up dual legal affairs, pre-review some contract terms that may be signed in the future, determine the framework, and see if there are hidden pits in it, so as to speed up the progress.

After the big frame is determined, it can't change randomly. This speed is in line with Chu Yuanxi's expectations. It is precisely to quickly determine the frame that he gave the green light, otherwise he will not be able to keep up with the launch of "Wu Dao Faunjun".

In the end, because both parties intend to complete the transaction quickly, the largest private merger in China in 2019 will be finalized to sign TS on Double Eleven, so that Ali can conduct due diligence as soon as possible.

It is expected that the transaction will be concluded no earlier than December. In this way, just in time for the launch of the film and television series "A Mountain in the Wind", Pakistani people can stand on their last post and fulfill their responsibilities to all partners. In addition, the Pakistani people should also be given time to drew money from Netmabao and the channels.

Soon news of the Pakistani Group and Ali discussing large-scale mergers and acquisitions spread like wildfire, and suddenly brought Chu Yuanxi to the focus.

The specific amount has not been exposed, because the only people who know the number of 340 are actually Lao Fan, Chu Yuanxi and Uncle Sheng. The executives of other businesses and the two companies have not been informed, and neither are the cooperation terms agreed upon. Need a specific price.

But because of this, the relatively transparent income scale of Israeli-Palestinian games and the market value distribution of benchmarking companies on the open market will only overestimate the people who eat melon, 60 billion, 80 billion, 100 billion, and people. The blowing was even more ridiculous. For a while, "Uncle" flew wildly, and the high price could scare Chu Yuanxi. My heart said I didn't know that Pakistani games could sell for so much money?

This is actually an extremely absurd method of valuation, and it does not conform to business logic. But what is helpless is that finance is a very professional field. The vast majority of people who don’t understand, cannot even judge the market position and value changes of listed companies. Is it the last city? How much difference can there be between a company or that company?

The problem is that for the vast majority of companies, going public is a grassroots turning into a phoenix. The value is definitely different. The mid- to late-stage valuation is usually a summary of current corporate information and market information, while the stock price contains metaphysical expectations for the future.

Only a handful of unicorns in the true sense ~www.ltnovel.com~ that are expected to dominate the track can enjoy the unlisted high premium. But this premium is extremely dangerous, because companies that can enjoy the aura of the industry are inevitably growing rapidly and have to face the biggest problem of entrepreneurship, which is the problem that the same growth rate as the hurricane will develop at the same speed with or without the basic drive. It is usually manifested as the problem that the business expansion speed of the enterprise is too fast, but the organizational power can not keep up.

Many celebrity startups have fallen on this threshold. No matter how they step forward, they will be heroes. In the future, when you get up well off, you will also have to face the same problem. Having experienced it once, thinking of a solution in advance is the biggest dividend for Chu Yuanxi's journey.

As for monsters like Huawei, it is rare for Ren to become an uncrowned king without being listed for decades. There are special conditions, and others won't be envious.

In short, the big difference between listing and listing is the difference between the valuation center.

There is such a misunderstanding in public perception. Of course, Chu Yuanxi will be on the forefront. Although several other co-founders have also been mentioned, Chu Yuanxi is the actual controller and dominated the transaction.

As a result, posts similar to "Baren Entertainment promised that we will never cut the leeks, so they sold the leeks" frequently appeared in various media, and the number of messages on the Weibo account of Pakistan Entertainment has surged.

There must be someone taking the rhythm, and there are many fierce ones in Weibo comments, but Chu Yuanxi has no desire to pursue it now. Lu Yu was busy extinguishing all kinds of fires. After entering the Ba people, let alone anything else, Lu Yu's ability to regulate public opinion has been very good.

Chu Yuanxi also felt a lot of sadness looking at these posts and comments. It seems that the players are quite satisfied with the game operations of the Pakistani people. Because they are satisfied, they don't want to see this kind of transaction and feel betrayed.

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