Chapter 381: 382

In a living room below the villa, Janet and Sophia faessy discussed the business adjustment of Chateau lato during this period, and talked about other topics casually. Janet inadvertently raised her wrist to look at her watch. Simon and Raymond Smith's meeting has lasted for one hour and forty minutes, far more than the first hour's appointment.

Sophia also looked at her watch, got up and said, "it's already noon. It's time for me to go back."

Janet saw Sophia to the door of the villa, noticed her casual look in the direction of the stairs, and said with a smile, "there have been a lot of things recently. Simon will fly back to Los Angeles in the afternoon. You may not see him this time."

Sophia gave Janet a blank look. "Who said I wanted to see him?"

"Yes, who said that?" Janet grabbed the bug in Sophia's sentence and joked, "I didn't say you wanted to see him."

Sophia blushed a little at the moment.

Although Simon warned her not to think about what she shouldn't think that day, her attitude towards the little man had changed unconsciously since she had a close relationship.

At least, that afternoon's joy of fish and water really impressed her.

After putting the children here, I decided to come and see them as long as the weekend was not too busy. However, as soon as I arrived this morning, I heard that Simon happened to be here. After a little bit of rehousing, I couldn't help running over on the pretext of discussing the operation of Chateau lato with Janet.

Before I came here, I couldn't help changing the ol suit that the little man liked very much and putting on makeup carefully.

Then, Simon did not see, but Janet saw the flaw.

In Jeanette's playful eyes, she almost ran away. Sophia drove away from the manor, raised a hand and stroked her hot cheek. Her mind was puzzled by the fact that he left many red marks on her that day.

God, I can't help myself.

When Sophia left, Janet didn't go upstairs. She called four ABCD girls to prepare lunch. Raymond Smith was obviously staying at noon today.

In the villa study.

Raymond Smith has informed his assistant to cancel the European tour temporarily and didn't avoid Simon when he called.

At first, when Simon said that westero had a 4.9% stake in Bell Atlantic and wanted to buy the company, Raymond Smith even thought the young man was joking.

It's almost well known that danilisi entertainment is going to bid for MCA with Panasonic.

After confirming that Simon was not joking, Raymond Smith subconsciously asked if he was going to give up MCA.

The answer made Smith even more surprised.

Simon westero plans to launch two acquisitions worth more than $10 billion at the same time.

Raymond Smith subconsciously regards Simon's offer as a traditional leveraged buyout and almost refuses it. He doesn't want Bell Atlantic to fall into the situation of Reynolds nabesk or Time Warner after its acquisition.

After Simon explained his purchase intention, Raymond Smith gave up the thought of refusing immediately and began to ask for more specific purchase matters.

Because they had made full preparations in advance, driven by Simon's topic, the discussion between them became more and more in-depth unconsciously. The topic involved the change of Bell Atlantic's business strategy after the acquisition, the debt repayment mode, the company's next expansion, the federal government's policy direction for the telecommunications industry, and so on.

When the noon sun fell on the coffee table covered with all kinds of documents between them, Raymond Smith realized that it was close to 12 o'clock.

Simon didn't pay attention to the problem of time, but still said: "most of the time, listed companies have to give up a lot of long-term planning in order to cope with the short-term earnings that shareholders like. With the privatization of Bell Atlantic, these constraints will disappear, and we can easily place a bigger stake in the future development of mobile communications and Internet business with great potential. As long as we have accumulated enough advantages in advance, Bell Atlantic can expand in a wider range as soon as the federal merger and acquisition control on the telecommunications industry is re opened. "

Raymond Smith was brought back to the topic by Simon's words, saying: "Simon, the prospect of mobile communication is still very clear, but how can you confirm that you are not playing the wrong bet on the Internet? You know, according to your opinion, we need to invest $1 billion in the upgrading of basic lines. Once the development of the Internet industry does not meet expectations, the company will have to face not only the loss of funds, but also the problem of life and death. "

"Ray, I've sorted out a memorandum about various ideas of the Internet industry before. If you are interested, you can take it back to have a look. In my opinion, an industry has never existed. It needs us to develop and create it ourselves. The world's electronic information network has begun to sprout since the 1960s and has been brewing for more than 20 years. It has been widely used in military, commercial, scientific research and government office, which is enough to prove the development potential of the Internet industry. Since the Internet can be applied in so many professional fields, there's no reason why it can't be promoted in the mass field with broader market potential. "Simon said here, pausing for a moment, and then quickly said: "Imagine ray, if one day, in addition to the news, forums, personal homepage and e-mail and other applications already provided by igritt portal, people can also get movies, music, games, making friends, shopping and many other online services through the Internet, which you can think of or can't think of now, what's the point What is the development potential of the primary industry

Raymond Smith also browsed and tried the online service provided by igritte portal. After thinking for a moment, he pointed to a pile of information on the coffee table and asked, "Simon, if you tell me these ideas, aren't you afraid that I will do it without you? I don't have as much control over Bell Atlantic as you think

Simon shook his head and said with a smile, "that's because you haven't done enough against the will of shareholders. Even if you have a lot of power, a company like Bell Atlantic can't do whatever you want. I believe there must be a lot of executives inside Bell Atlantic who want to replace you. As a listed company, as long as you encounter setbacks in promoting these strategies, even if only for a short time, your so-called "control" over Bell Atlantic will quickly fade. In contrast, as long as we can reach an agreement on the fundamental development direction of the company, I can tolerate the long-term loss of the management in a certain business even for more than five years. "

Raymond Smith was silent for a moment.

They have been discussing for more than an hour. Raymond Smith knows that if he doesn't have a heart attack, he won't discuss with Simon for so long, and even cancel his original itinerary.

However, there are both advantages and disadvantages in accepting westero's offer.

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On the positive side, as the young man said, without the shackles of strict supervision of listed companies, he can boldly adopt some radical business strategies, and the company does not need to rack its brains on the financial report every quarter.

However, on the negative side, as chairman and CEO of Bell Atlantic, he really has great power now. As long as he does not take too much risk in the company's reform, he can safely stay in this high paid position until retirement.

On the contrary, once the company is acquired, he will find himself a boss. The future development of the enterprise has reached the young man's expectation. Fortunately, if not, he may be kicked out at any time. Even if we can get a huge termination fee through the advance golden parachute contract, our career will be basically destroyed.

After weighing for two or three minutes, Raymond Smith looked up again and said, "Simon, I need more commitment and protection from you."

"Ray, you must know that Amy Pascal, as the CEO of daenerys entertainment, will get more than $100 million this year, which I believe should be the highest salary ever paid by a female executive. A lot of people in the westero system will also get very generous rewards this year, so you don't need to worry about not getting paid back at all. "

Simon turned the conversation and said, "but ray, I also understand what you mean. You need to get enough power after I finish the acquisition of Bell Atlantic. Frankly, I can't promise you anything. I've read your resume and I'm very sure that you have the ability to run this company well, but I will never let it go completely. If you pay attention to Hollywood, you will know how ridiculous the two executives hired by Sony after its acquisition of Colombia are now. They are just wasting money on this big studio. Before they were hired, they were actually very good producers. The reason for this situation is that they are lack of power constraints. I will never make the same mistake in such a case. "

Raymond Smith's face was still a little hesitant.

Simon waited for a moment and said, "ray, I remember there's an interesting story about Apple in Silicon Valley. When Steve Jobs invited John Scully, the current CEO of apple, who was still working for Coca Cola, to join apple, he asked him, "do you want to sell sugar water for a lifetime or seize the opportunity to change the world?"? In fact, I also want to say, ray, do you want to retire safely at the helm of Bell Atlantic, and then be quickly forgotten after a lively retirement party, or do you want to create a business miracle that can be remembered by the world with Simon westero? "

When Raymond Smith heard Simon's words, he thought of his youth's shining for just a few years. His heart gradually grew a long lost blood. After a short delay, he finally reached out and said, "Simon, I promise you."

Simon and Raymond Smith held hands tightly, and at last he was relieved.

With Raymond Smith, Bell Atlantic's board of directors has no big obstacles.

After lunch, Raymond Smith hurried back to Philadelphia, Pennsylvania, just over 100 kilometers from New York, where Bell Atlantic's headquarters is. Smith also took with him a draft of westero's intention to acquire Bell Atlantic, mainly including some informal offer and exit fees.

Simon initially offered an informal offer of $6.3 billion, a 10% premium to Bell Atlantic's average share price in the previous three months. ‘In terms of exit fees, Simon's promised price is 2% of the final transaction price.

Although he agreed to Simon's offer, Raymond Smith quickly returned to his role during lunch. He said frankly that Bell Atlantic's recent stock price was seriously undervalued due to the impact of the market. Therefore, Simon must make a sincere offer to impress many shareholders of Bell Atlantic.

However, due to the cooperation of Raymond Smith, this acquisition has been confirmed as a goodwill acquisition, and the possibility of competitors is very low. Coupled with the continuous downturn of Bell Atlantic stock price in recent months, the original budget of 8 billion US dollars is absolutely more than enough.

You know, the stock premium is basically less than 20% in the normal goodwill acquisition.

Even taking into account the fact that Bell Atlantic shares are undervalued due to the market downturn, the acquisition price of westero will not exceed $7.5 billion based on Simon's initial expected 30% premium. In fact, it's more likely to be around $7 billion.

However, Simon also promised in that plan that he would not draw cash from Bell Atlantic to repay his debts in the future, but would continue to inject at least $1 billion into the development of the enterprise.

Therefore, the overall budget for Bell Atlantic is still $8 billion.

Seeing off Raymond Smith, Simon hurried back to Los Angeles.

After two days of final preparation on Sunday and Monday, on Tuesday, October 31, danelis entertainment formally put forward a public offer to MCA.

Seven billion dollars.

In one step.

Panasonic has already offered an offer of US $6.6 billion. If danilisi entertainment increases by US $120 million, it will only be very insincere. Therefore, Simon simply gives his own upper limit of offer.

Countless people have been waiting for a long time, and finally they have no idea.

When the North American media reported Denise Entertainment's move, MCA's share price also soared again. By the end of Tuesday afternoon, MCA's market value was close to the $7 billion overall offer offered by danielis entertainment.

Panasonic has accumulated more than 12 billion US dollars of cash reserves overseas over the years, and Simon westero's personal cash assets have also reached 8 billion US dollars, both of which can be called strong strength.

Therefore, many people have begun to look forward to the arrival of a bidding war.

On the other hand, after several successive intensive board discussions, Bell Atlantic responded to Simon's offer on November 1 and agreed to start formal acquisition negotiations with westero.

James Leibold himself led the team to begin consultations with Bell Atlantic management.

Because of sufficient preparation in the early stage, the acquisition team of westero company only needs to reconfirm the operation and assets and liabilities of Bell Atlantic company, and then quickly focus on the specific acquisition details.

At the same time, the acquisition team began to reach out secretly to lobby Bell Atlantic's shareholders.

As a listed company with a long history before the split, after the split in 1984, the equity of Bell Atlantic is still very scattered, most of the shares are held by many pension funds and insurance funds in North America, and few shareholders hold more than 5%, which greatly increases the difficulty of acquisition of Bell Atlantic by Westeros.

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