Chapter 100
Chapter 100
It’s been a long time since I’ve seen Yeji, so I thought it was nice.
I engraved the amount in my head so as not to forget.
2.93 billion.
The unit is, of course, dollars.
Although Xcop is a Korean company, its headquarters, Typo Group, is an American company. Therefore, the amount is paid in dollars.
In Korean Won, it is about 3.22 trillion won.
This amount is higher than expected.
Is Eunsung Cha really spending this amount on the main bid? Is the X-Cop really worth that much?
“Elder!”
I woke up to the call I heard. The hologram disappeared like a lie.
Yuri looked at me with a worried expression.
“What’s wrong? It’s okay?”
“Yes. Nothing. What more would you like to eat?”
“You know what? Don’t talk to seniors, but sometimes make a blank expression. Last time I was driving and I almost had an accident. Why are you doing that?”
“that… … Sometimes I think of something.”
At my words, Yuri had a questionable expression on her face.
“What were you thinking this time?”
“… … .”
Can’t we just say that the bid price for the silver car was in front of us?
I said whatever came to mind.
“I think you look pretty today.”
It took some time to get a response. Yuri’s face turned bright red.
“Ah, what are you doing out of the blue? Shame on people.”
“sorry.”
After saying this, I wonder why I said this too.
There was an awkward silence for a moment.
Yuri inflated her cheeks for nothing.
“Did you know this is the first time I’ve said that I’m pretty?”
“is it?”
I used to think a lot, but I don’t think I ever said anything.
Yuri laughed bashfully.
“Hey, it feels good to hear that you are pretty. Thank you.”
“Thank you.”
I am more grateful
* * *
We finished our bottle of wine and left the restaurant.
They both drank alcohol, so I called a surrogate driver. I’m glad I came in a sedan this time. The last time I rode an i8 and had a drink, there was no place to sit, so I took a taxi.
If the driverless car is released later, there will be no need to call a substitute driver, right?
The world changes much faster than human perception. If you come to your senses at some point, the people in the driver’s seat may be playing games or watching the news.
After a while, the surrogate driver arrived. He was a man who looked to be in his mid-50s.
First, she brought the glass to the front of her house.
The car stopped just in front and we got off together.
“I will walk from here.”
“OK?”
I’m a little worried because I think I’m drunk.
Yuri drew her V with her finger.
“of course. It’s just safe inside.”
“Go in carefully.”
“When is the preliminary bidding?”
“Is it 3 o’clock the day after tomorrow?”
“I will cheer you on.”
I laughed bitterly.
“What about your father’s company?”
“Ah, that’s right. Still, I hope my seniors do well. fighting!”
“Thanks.”
Hearing the cheers gives me strength.
“Next time, I will buy rice. Do not change your cell phone number. If you change it, please let me know.”
“Okay.”
“I promise.”
Yuri held out her pinky finger, and I made a promise with my finger.
* * *
I called Taek-gyu on the way back.
“Where are you now?”
[company.]“What are you doing there?”
[Playing hard.]“… … .”
Anyone who sees it will know that I work overtime.
“I’ll be going soon. wait.”
I said to the agent.
“You know the twin towers on Tehran-ro?”
“Yes. I know.”
“Please go to the OTK Company Building there.”
“Okay.”
I leaned back and took off my glasses. When I wear glasses that I haven’t used, it feels like something is off the face.
On the way, Yuri received a text message. It is said that he entered the house well. I sent you a good night reply.
In my 20s, riding the S class and going to the OTK building at this time was strange, the assistant driver looked at me with a squint.
Then he asked cautiously.
“Maybe there… … Are you CEO Kang Jin-hoo?”
I was lying, so I nodded my head.
“Yes.”
When someone I don’t know recognizes me, it feels strange. I am not a celebrity
The surrogate driver was pleasantly surprised, but happy.
“This is amazing. I enjoyed the press conference. How can such a young man set up such a great company?”
I also talked comfortably.
“Since when did you start driving?”
“It started about two years ago. I run a convenience store with her wife, but business is not going well.”
I didn’t even ask, but the conversation flowed out.
He originally went to a small business, but retired honorably, and started a business with severance pay, but failed. He collected the remaining money and borrowed money to open a convenience store.
He set up only after hearing the head office said that he could earn 5 million won a month, but what is this?
For the first few months, I thought it would be a bit of business, but as other convenience stores opened nearby, sales quickly declined. In addition, head office fees and rents have risen sharply every year.
Now, even though there is only one part-timer and a husband and wife take turns running, the monthly net profit is around 3 million won. It would be better for the couple to go somewhere else and work part-time than to run the business with this money.
That doesn’t mean you can’t close the business. This is because if you close a store within the contract period, you will have to pay a penalty to the headquarters.
So in the evening, while her wife looked at the counter, it is said that she started driving as a side job. This makes about 800,000 won.
“It must be difficult.”
At my words, the deputy knight laughed haphazardly.
“What. Everyone lives like this.”
It doesn’t sound like someone else’s.
Until just a few years ago, the situation in our house wasn’t much better. My mother had never done this or that job to make money.
Although exports are increasing and the indicators are recovering, the common people still do not feel it well. In particular, the economic situation felt by the self-employed is serious.
The problem is oversupply. A meat restaurant opens in front of a meat shop, and a convenience store opens in front of a convenience store, so they don’t have the guts to stand with each other.
The reason is that, after all, companies are not hiring.
Because they can’t find a job, they jump into self-employment, and as the number of stores increases, rent rises and competition becomes fierce, repeating the vicious cycle.
As I listened to the story, I arrived at the parking lot.
“Please stop here.”
Fees have already been paid through the app.
There was 300,000 won in cash in the wallet. I took out all the money and gave it as a tip.
“Thanks to you, I have arrived safely. cheer up.”
The agent didn’t bother to give up.
“Thank you, boss.”
* * *
I went up to the 38th floor.
In the meantime, Taek-gyu didn’t even take a step, so he even ordered pizza and ate it.
In the CEO’s office, a white guy in a training suit was playing a game, so wouldn’t the part-timer who delivered it be shocked?
“Have you been well?”
I told him.
“I found out the bid for the silver car.”
Taek-gyu was startled and stopped the game.
“how?”
The bid is strictly confidential.
For fear of leaking information, it is sometimes decided and written right before bidding. But I’ve figured it out now.
“I saw wisdom.”
Taek-gyu blinked his eyes.
“It’s been a long time.”
“That’s it.”
“How much is it?”
“$2.93 billion.”
“Are you going to take over with this amount?”
“I don’t know.”
The only thing Yeji showed me was the bid price of Eunsung car. It was not announced whether or not the bid would be successful.
Besides, I don’t know if this is a reasonable price.
“Isn’t it expensive?
“Maybe?”
Typo Group said they wanted to receive more than 3 trillion won, but this means that they also consider 3 trillion won as the maximum.
Most companies will also consider the 3rd line as a marginal line.
I looked at Xcop’s financial statements on the desk. Equity capital was 413 billion won, and as of last year, sales were 894 billion won and operating profit was 189 billion won.
“If it’s 3.2 trillion won, the PER is 17.”
“Price-earnings ratio?”
“right.”
In other words, to earn 3.2 trillion won, you have to make the same operating profit for 17 years.
It is difficult to make a uniform comparison, as PERs vary from industry to industry. For example, in the case of bio or pharmaceuticals, the PER sometimes exceeds 200x.
Even if it does not make a profit right now, it has high growth potential in the future.
We looked at sales and operating profit for three years, but there was no noticeable growth.
Is this really worth 3.2 trillion won?
“What are you going to do?”
“If the difference between Eunsung and Eunseong is an excessive amount, we have nothing to worry about. If this is a decent price, we should bring it.”
In the end, fair value is the key.
“I should talk to Hyunjoo noona first. Where is your sister now?”
Taehyung pointed to the window.
“Can’t you see?”
Even though it was late, the lights on the top floor of the next building were brightly lit.
* * *
Hyunjoo’s older sister was not in the branch manager’s office, but downstairs with the due diligence team.
Hyunjoo noona was not the only one working until now. In the conference room, more than 20 members of the due diligence team, including Eli and Henry, were moaning with mountains of paperwork.
Half of them are from the Asian branch.
The sale of a company can take as little as a few months and as long as a year or more.
However, Typo Group needs cash before the end of the year to fix accounting fraud. Therefore, the plan was to somehow finish the sale negotiations before Christmas.
The sale process went smoothly. The due diligence period was only given for ten days.
It was not enough time to properly complete the due diligence, but it was unavoidable. If you don’t like it, you don’t participate in the bid. But the property is too attractive for that.
Thanks to that, only the due diligence team is dying. This will be the case for companies other than Golden Gate as well.
Due diligence is conducted by experts in the field, including lawyers and accountants, to thoroughly investigate and analyze accounting, law, business, and taxation.
You have to pay attention because even one number changes everything.
The press briefly goes out like who bought it for how much, but behind the scenes such great efforts are hidden.
Ellie found me outside and came out of the conference room.
“I was working at this hour.”
Ellie nodded her head.
“The day after tomorrow is the preliminary bid. I was reviewing legal issues with lawyers from the legal team.”
“Are there any problems?”(Read more @ wuxiax.com)
“Yes. Both OTK Company and Golden Gate are not caught on either side of the separation of finance and industry and anti-monopoly.”
Just because you have money doesn’t mean you can buy a business.
In Korea, industrial capital cannot own financial capital by law, and mergers and acquisitions in the form of monopoly of a specific business operator are not permitted.
The reason that SSK Telecom’s merger with GJ Morning was canceled a while ago is because of this anti-monopoly.
“We need to look into the details a bit more… … .”
Ellie, who was talking, suddenly approached me. She was almost within reach of her body.
“Why, why?”
When I asked in bewilderment, Ellie took a deep breath.
“It smells like wine. Who did you drink with?”
“… … .”
You’ll find out right away Did she even come to clean up a bit?
“Let’s go, meet the school boy after a while.”
“Are you from school? Who?”
“that… … .”
I don’t think it’s fair to say that I drank with Yuri for some reason.
Ellie said sarcastically.
“Hey, that’s too much. I’m working like this, but Jinhoo only drinks alone. I like wine too.”
“I will live next time.”
Ellie’s expression brightened at my words.
“Really? I promised.”
“Of course.”
It feels like we’re making a lot of promises today.
Hyeon-joo’s sister and Henry followed.
“I’m here?”
“I have something to tell you.”
We all went to the branch manager’s office.
The secretary, who was still unable to leave work, brought coffee.
“How much do you think the preliminary bid amount is?”
The amount should not be arbitrarily written down as a preliminary bid. As a rule, the price cannot be lower than the preliminary bid in the main bid.
“25 billion dollars. Anything less than that will probably be rejected from the preliminary bid.”
About 15 participating companies.
The preliminary bidding is meaningful in filtering out companies that write down prices that are too low among them. The main bidding, which starts a week after the preliminary bidding, is the real game.
“Is X-Cop Worth More Than $3 Billion?”
Ellie was startled.
“Three billion dollars? Isn’t that too much?”
Hyun-joo’s sister put her cigarette in her mouth and lit it. And she smoked her cigarette silently for a while, immersed in her thoughts.
She’s probably recalling the due diligence she analyzed over several days.
“The security of our country is stable. Therefore, the demand for security and security is not that high compared to other developed countries. But the wealthy continues to grow, and corporate security is becoming more and more important. As time goes on, the demand from individuals and businesses is likely to increase. With that in mind, even paying $3 billion now would not be a big deal.”
“i See.”
After all, Eunsung Cha is not spending that amount without thinking.
If you consider the synergy that can be gained by incorporation as an affiliate, you will want to acquire it even if you pay more than that.
But I have no intention of standing still and watching it.
“I will set the original bid price.”
