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After reading the last ten retail, everyone said the big business.

Then, Li Dong swept a circle, when I saw Bajia, Li Dong lightly knocked the desktop: "Baijia is not too much in the mainland business, most of the mainland business is concentrated in South China. .

And South China, Baijia Camp is 4 billion yuan, not low, but it is not too powerful.

Hundreds of truly is really powerful or Hong Kong and Macao, Hong Kong and Macao, Baijia Camp reached 12 billion yuan, and the market share in these places is very high.

There are not many retail companies that have more than 10 billion yuan in the mainland, not to mention two small pieces in Hong Kong and Macau.

Therefore, we mean 100 best, in fact, it is not a good business in the Mainland, but Hong Kong and Macao.

However, and Huang is also the owner of the wealth, and the mergers can agree, and the other party will not be too low.

At the same time we gave Baijia issued a merger, there were also other companies extended olive branches, including many international retail groups, and they also hoped to enter Hong Kong and Macao.

The Chinese mainland market is now too intense, but Hong Kong and Macao is still possible.

And as a bridgehead, you can also peek the mainland market and enter the interior of Huaxia at any time.

Last night, I made a call to Lao Li's eldest son, which probably communicated, the other party's price is not low, although the excuse is the quote of others, it can obviously the other's psychological price is high.

$ 3.5 billion, 44 billion yuan quote ... "

When everyone listened, Chen Yongtou frowed: "This price is too high!

In the beginning, Carrefour's business is much stronger than Hundred, and the revenue has even reached twice the other party.

Nowadays, I am afraid that Plus the mainland, the total revenue is only 16 billion yuan.

Also, Betai's own property is actually very few, most of them are malls under the yellow flag, this time we mergers and acquisitions, in fact, these commercial real estate projects.

A simple department store business, the price is 24 billion, I really feel that our money is not money? Also, Baijia's profit margin is not high, it is 6%, according to the revenue of last year, it is a total profit of 1 billion yuan.

If it takes 24 billion to acquire each other, the return on investment is only 4%.

Of course, the return on investment is not enough to explain, after all, our retail business in Hong Kong and Macao is a blank, you can give us a small value.

The return on investment is less than 8%. In fact, for us, it will be a little bit.

The other party is more than 12 billion, this price can be accepted, even if it has played an additional role, the added value will not exceed 20%.

That is, 14 billion yuan is our highest tolerance.

Now that the other party has a price of 24 billion, higher than 10 billion funds. Li, I think the other party is without any sincerity.

This kind of quotation is reported, and it is difficult to talk about it.

Yuan Chengdao also nodded: "Indeed, 24 billion, 100 good value.

Even if it is a national plum, at the beginning, although there are a lot of spending, but the national Mei is the first, the meaning is different.

Baijia is not the first in Xiangjiang, let alone the mainland market, wanting 24 billion, and the yellow appetite is scary.

Commercial mergers, encounter such an opponent, generally representing the other party, not too much sincerity, and high-priced enterprises who wish to participate in the mergers and acquisitions, Li, the other party should have not considered it, don't sell Bajiajiao .

Others have also spent that 24 billion prices are indeed too much excessive.

Before you usa, the distance is only more than 10 billion, and the revenue of Carrefour is twice the other party.

And the same, there is not much self-owned property, which is also very important.

However, at that time, Carrefall was in danger, and he had a big exclusion in Huaxia. He added a remote in the mainland.

However, even if this is, Baijia has a half of the other half of the revenue, and the value will not be false to this point.

Li Dong listened a few words, and then suddenly said: "If you buy the big business now, I said their retail business, how much is you?"

This time, a few people have changed slightly.

Chen Zhi took a while: "For the intelligence of the big business, we are not too understanding, including their profitability, the liability, the proportion of its own property, there are other parameters, we are not too clear.

Before, our research on large business is not too much.

However, as far as I know, the profit margin of the big business is not too high, the other party takes the means of small profits, this is one of the reasons for their revenue.

If you look at the disclosed data, 75 billion revenue, 6% profit, plus a self-priced property ratio of about 10%, and the debt ratio is 20%.

I want to merge big business retail business, less than 50 billion is almost no hope.

This time, many people have some toothache.

Li Dong also helpless: "Is it more than 50 billion? Is it so high? Gongmei probably spent so much money ..."

Everyone speech, the situation is different.

At the beginning, the Mei is a crisis, and it is essential to the distance.

In fact, it is actually not only the country's happening, and all the people from the passengers, all the business, the bid is not too high.

The big business is very good, and in the northeast, no one is competitive.

In this case, I want to merge the big business and the cost will not be small.

And for these retail companies, regardless of listing, the market value is not enough to represent anything, but also to see the value.

Unless you cooperate with the other party, you can have a complementary role of the industry, and the other party may make you in the low price.

It can be simply trying to acquire each other, then it has a high price.

Li Dong touched the chin, I thought about it again: "The business is worth 50 billion in accordance with your standard.

What about the beauty? You know, it is not too high.

At that time, the other party wanted to replace our Beijing-Town store, gave 25% of the equity and 1 billion cash, and the actual price of the beauty was 10 billion.

The beauty plus the Beijing Guest, this revenue is not low, reaching 43 billion ... "

Chen Lang went on: "Li, this is not the same.

Moreover, the load rate of Weimai is not low. At the beginning, because there is too much liability, the bank refuses the loan, and the beauty will give up the M & A era, and we will seize the opportunity.

And the big business, though we didn't have to investigate, it was absolutely better than the beauty of the beauty.

Also, the profit margin of Weimai is not high, and the big business is a single tyrant. It is a fierce competition in the capital.

Also, we were replacement, and they did not have to pay, and the other party can reach a league from the distance, which gives the same price.

I want to acquire each other, then it is not so much.

I don't want to collect the beauty of the acquisition, no more than 1.5 billion funds.

This is also based in the case of the other party, if you talk, you will not pay 20 billion, and the beauty does not agree.

In short, I want to rely on funding for arsenal, and spending money will definitely.

Dalergends plus two things, want to complete the acquisition, do the northern union, the group is at least 70 billion funds.

The premise is that wholly-owned acquisition, if it is just a simple stock, that is much smaller, stocking and acquisition, is not a concept ... "

As the king of M & A, Chen Yong, who has been acquiring many companies, especially M & A, so that Hua Yun is rising in retail business, is the existence of the Huaxia retail industry.

What he said, even if the material is not accurate, the assessment may not be very in place, as long as the actual situation of the other party is similar to his budget, the price should not be too much.

700 billion, this is the price of the distant opening of the North market.

Plus the previous distance in the northern investment, and when M & A Carrefour, Carrefour's investment in the north.

Finally, the light is the northern market, and the distance wants to complete the layout. It is absolutely first, which is absolutely one hundred billions.

Li Dong slightly had some headaches, which did not conduct international expansion, and did not think of the major retail groups that have been targeted before the mergers and acquisitions.

Single is a big business and beauty, it takes 70 billion funds. This is the best situation. I can't play my own plan. I can't do it.

See Li Dong Shen Si, Chen Wai is not said: "Li, you will not really want to talk to the mergers and acquisitions with the other party? In fact, in my opinion, now I have acquired these companies, it is not very cost-effective.

Our business has spread very well, and the overall mergers, many resources have coincident.

And split mergers and acquisitions, these companies are afraid that they will not agree.

At the time of the merger, our resources were a lot, and some stores were shut down.

But at that time, Carrefour is not expensive, we can accept it.

Nowadays, big business and beauty is different, or we take the initiative to put forward the M & A plan, then the waste of the waste, we need to be borne.

Li Dong was shocked: "Don't say this first, if, I said that if we have completed the mergers of 100 best, big business, beauty, then we have a complete layout in the northwestern region in Northwest China, Northeast, South China, will have a perfect layout.

China, East China, and southwest, we have already done very well, if the other four area layout is perfect, we have done invincible in China.

No, I have to add the Wu Shanglian of China.

Do we completely invincible for the four M & A programs? "

Chen Zhen smiled: "" There is an invincible hand, the premise is to complete the integration smoothly.

Others don't say, at least the department store business, is really no one can surpass us.

You can acquire these four, the fund is at least between 1000-120 billion.

This even surpasses the total value of our current retail group!

Li, this is actually not cost-effective, and it costs too much. It is too much in turn into so many companies. The group's pressure is too big, and it is unknown to the distant retail.

I don't say money, and the light is integrated, and it will not be completed in a year or two.

"More than 100 billion yuan, four add together, 1800-20 billion revenue performance ..."

As far as the distance, it seems to be done.

Now the distant retail, it is not considered this piece, plus the national plum, this year's goal is to impact 300 billion mark.

And the value of the distance before retail, and Li Dong's estimated 100 billion people questioned.

Now that the other party has its own property ratio, the profit margin is not necessarily strong than far, with more than 100 billion funds, in exchange for more than about 200 billion, as if it is a lot.

However, the distant energy can have the current achievements, which are slowly growing in the later stage. Now forced mergers and acquisitions, it is natural to pay more costs.

Li Dong once again knocked on the table, muttered: "Male, these four retail revenues should reach 500 billion yuan this year.

50 billion ... "

Probably guess the Yuan Chengdao of Li Dong's goal, could not help but remind: "Even if it can reach 500 billion camp, you can do this kind of merger, even if we have completed the M & A plan, our cost expenditure will rise, the profit margin will decline again.

At the end, the profit margin may be less than 5%.

Even, it will be lower!

The scale is big, and it may be more than too much than the previous profit.

And we have used the funds that have been used!

These funds, even if there is a bank, I am afraid it exceeds this return.

Li Qi, Thoughts!

5% seems to be quite good, but actually, it is terrible.

For large groups, less than 10% of the return rate is not worth investing.

Of course, more cash flows from retailers and profit margins can be slightly reduced, which can be less than 5%, and it is absolutely not cost-effective when it is not hurt from e-commerce.

Is a simple revenue rose, is it really meaningful? At least in Yuan Chengdao, the meaning is not too big.

With this money, you can do a lot of things, you can also choose some suitable enterprises for acquisition, not now who is in the light, who is in terms of local, just to buy who.

Also, hundreds of billions of funds, where can I get? Even if the loan can be loaned to 100 billion, the result is the result of M & A, the money earned all the interests of the bank, which is equivalent to the distant profit of the distance, is there anything necessary? Not only Yuan Chengdao helpless, Chen Lang probably understands Li Dong's meaning, frown: "Li, the operation of overload, the meaning is not too big."

If it is just the first words, we are now there.

When other companies meet the crisis, the other party has the value of the mergers and acquisitions, then we can enter the way.

But now, other companies have not encountered a big crisis. At this time, the income of the cost is not too much in line with our expectations.

The two persuaded a few words, Li Dong was laughing: "Sometimes, don't look at the interests in front of you."

It's really going to acquire it, and it is incorporated into our system, Huaxia, except for South China, it is a bit competitive, and the competition in other places can calm.

In 2009, it reached 500 billion yuan in the line. In 10 years, we may double, of course, this possibility is a bit low.

In the early days of the development of enterprises, we can not make money ... "

In the early days of the development of the company, he made the people present.

At this time, it is also the beginning of the development of the company? Distinguished this point, in order to say, this time should be targeted as a goal, rather than a scale.

Unless Li Dongzhen wants to do this position in the world, otherwise, this time is not worth it in everyone's opinion.

Li Dong doesn't matter what they think, tone accelerate: "It's actually try, even if you can't do it now, you can continue to talk.

100 billion, acquired four, I didn't seem to accept it.

As for the funds ... Let's talk about it first, talk about it.

This kind of irresponsible, let everyone have no words, and even turned over.

100 billion, you are a penny now, you dare to say!

I really want to talk, and finally I have no money to pay, who is going to pay? Once such a situation, the distance will become a laughter in the world.

Feelings, the distance is always in the bluff, and the fat is a fat man.

Since there is no money, then I will talk about the mergers and acquisitions, I am idle.

In the field, there is no one to pick up this time, and I don't know how to pick it up.

In short, everyone's mind is now a bit touch now.

Just when the atmosphere was in a embarrassing atmosphere, there was a humanity next to: "Li Chiang, Huazhong, Jiangcheng has a small scale of demonstration.

More than 50 distant employees gathered in Jiangcheng Headquarters, requiring us to increase wages, reduce working hours ... "

"Li Da, there are also some situations in Shanghai, several executives and left-proof management of the original Carrefour, and the employees with Carrefour will ask us to say.

Especially those seniors who have left, now require us to compensate their losses.

Mr. Sun and Wang, have been dealt with ... "

"Li Zhong ..."

When the person next to the phone, I reported it at this time.

And a few people in Li Dong, but it is loose.

There are many places where the series occurs, with a total of eight, including the evacuation of the capital, participated in the employees and management, a total of approximately 300 people.

Compared with the scale of hundreds of thousands of people, 300 people are considered a small proportion.

Before everyone worried about the demonstrations of thousands or even hundreds of people, now just sporadic distributions in some areas, more than everyone expected.

After listening to their report, Li Dong did not say something to M & A, the big channel: "Tell the local responsible person, the employee and management of the staff, don't want a penny!

Don't be polite with them, let the police dispatched, under the day, illegal rally, parade is all improving!

And the distance from the distance, let people look carefully, if you still gather, you will be polite, remove it directly, the compensation cost is not, I want to tell me to let them go!

Distinguished from the distance, dozens of hundreds of people wanted to hit the distance, and that is too small to look at the distance.

What's more, we don't have any places where they are sorry, and there is nothing worthy of the illegal gatherings.

As for the problem of work, I am clear, let people stare, some places to deduct the overtime cost of employees, which is not fake.

If there is really a long increase in work, you have not got overtime costs, then we are responsible, you will give you a confidence.

But if you get overtime, you will say that time is too long, but also make them glow!

I didn't let everyone overtime, I got it up.

Let them go out and ask, have several companies, truly achieved the point of overtime to pay? Don't worry overtime, then don't work overtime, people who want to overtilime are, they don't work overtime, and it is the low wage. It is a welfare home? "

Li Dong said, while talking about his handling plan.

This time, there is a thousands of tens of thousands of people involved, and that Li Dong has considering the consequences, at this time, he has to take a series of welfare policies.

It can be added to a few hundred people in the country, and half of them are people who have left before, and the distant employees who are really involved are around.

Such size, distributed throughout the country, Li Dong is polite with them.

Doing a business, I really want to say that it is not existed, it is certainly not existed, and this exploitation, suppressed to the lowest level, and suppressed to everyone, it is the success of the company.

Tens of thousands of employees, hundreds of people are dissatisfied, this proportion is not enough to affect what.

Li Dong was so strong, and Yuan Chengdao did not have any opinions. It is not a good thing. Since the scale is not large, the description has been suppressed.

At this time, the strong will also suppress the remaining people, which may minimize the impact.

At the same time, several people are still thinking about Li Dong.

In 2009, in order to break the remote revenue of the remote revenue exceeded 500 billion, Li Dong was likely to implement his plan, and acquired four companies above.

The key is to be, from the perspective of professional managers, it is really not worth it.

Li Dong, what did he think of? There is money, nor does it play like this, is he really thought that he can hit the world's five hundred? If you can't rush, how big is the first, second and tenths? Thinking about thinking, Yuan Chengdao and Chen Yan have paid a look, there are some headaches, can this guy can't really stop a few days? The bastards called on Li Dong returned before, all the Lords standing and not hurting, this is a mountain, trouble, but they.

Obviously, I had a good time to take a few days, and the result is fell. This afraid that I have forgotten what I said. "It's also ready to put" there will be fine after "."