Chapter 103

Chapter 103

On the faces of the people in the arena, the desire for victory and the wish for it to end quickly crossed.

Everyone would have been brainstorming all night to set a bid until the last minute.

The range in which the bid can move is not very large.

The price your opponent wants to sell, the price you want to buy, the price your competitor wants to buy, the price the market thinks.

Putting this all together, you’ll end up with roughly the same amount.

Take that price as the base price, and think about how much more or how little you will spend. Bands are usually less than 10% and rarely exceed 30%.

Everyone is probably holding the base price at $2.7 billion. How much more you spend here will determine whether you win or lose.

You might think that it’s okay to spend a little more anyway, but if you raise it little by little like that, you’ll go out to buy a compact car and then buy an S class.

Geumo Group took over Daehoo E&C, but the group went bankrupt.

Unlike other companies who would set a bid after careful consideration, I wrote the amount easily.

The process is just as important as the outcome.

If a novel came up in front of my eyes and became a best-selling author, if a theory or formula came to mind and received a Nobel Prize, I might have felt sorry for other hard-working writers and researchers.

But in finance, only the results say it all.

Even if you have fully analyzed and invested, if the 9/11 terrorist attack happened the next day, it would be a failed investment. On the other hand, whether it is an analysis or a film, whether it is a value stock or an operation stock, as long as it makes a profit, it is a success.

Therefore, there is no hesitation in the ability of Yeji.

After all, what matters is the result.

* * *

The bidding process was simple.

In front of everyone, the envelope was opened and the bid price was revealed, and the whole process was recorded with a camera. This is to avoid any possible fairness dispute.

Morgan Stanley Seoul branch manager Song Myung-hwan personally hosted the event. He stood on the podium, introduced himself and gave a brief greeting, and immediately announced the bid.

Branch manager Song Myung-hwan opened the envelope submitted by the KRR and took out a document with the bid on it. And he said the bid in an emotionless voice into the microphone.

“KRR. $2.74 billion.”

The amount was displayed on the monitor used as an electronic signboard.

The expressions of the company officials watching the bid changed subtly. Even KRR, which undervalues the Korean market, spent more than 3 trillion won.

Then, the bid for Kanrain Group was announced.

“Kan Line Group. $2.855 billion.”

In an instant, the amount jumped to $115 million.

KRR’s CEO Jeong Tae-ho had a sad expression on his face, and CEO Lee Jong-ho smiled. But when RCK Bros.’s bid was announced, that smile disappeared.

“RCK Bros. $2.917 billion.”

That’s over 3.2 trillion won.

It was a bold bet, contrary to the expectation that the funds would be insufficient. Was it a low-ball strategy to write down the low price in the preliminary bid?

Team leader Seo Sang-won, who was watching the billboard, shook his head.

I expected RCK Bros. to spend a high amount. But it went one step further than expected.

If you had written down the $2.88 billion initially offered, you would have been eliminated.

he said in a low voice.

“The vice-president was right.”

Chanyoung Han smiled inwardly and nodded his head.

He beat out strong competitor RCK Bros for only $13 million. This could be regarded as a perfect victory.

Then, the bid price for the silver car was revealed.

“Eunsung Cha Group. $2.93 billion.”

The intestines roared.

RCK Bros was daring, but Eunsung Cha Group was more daring than that. That little difference made the difference between winning and losing.

Team leader Ha Chang-hoon shook his head slightly. Unfortunately, it was an unavoidable result.

The amount has already exceeded expectations.

It was everyone’s judgment that OTK Company and Golden Gate would not have spent more than that.

And to some extent that judgment was right.

Oh Hyun-joo crossed his arms and flicked his fingers. He has a habit of coming out when he wants to smoke.

‘I lost.’

The upper limit she talked to Jinhoo Kang was $2.92 billion. No matter what happens, I strongly told him not to go beyond that.

It beat RCK Bros., but couldn’t beat Eunsung Cha Group.

If I had known the other person’s amount, I could have spent a little more than that… … There is no end to thinking like that.

Oh Hyun-joo looked at Kang Jin-hu next to her. I was worried that I would be as angry as Eunseong-cha was, but it was surprisingly calm.

‘It wouldn’t hurt to experience defeat at least once.’

This time I saw her brother. Oh Taek-gyu was smiling.

When he sees it, he tries to get angry for nothing.

‘Why are you smiling in this situation?’

Branch Manager Song Myung-hwan opened the last envelope and took out the documents.

“OTK Company… … .”

He paused while talking. It was as if he had seen something wrong.

The eyes of the bidders were all at once on him.

How much did you spend doing that?

Could it be that I wrote an unreasonably low or high amount?

Branch manager Song Myeong-hwan, realizing his mistake, came to his senses and announced the bid.

“OTK Company & Golden Gate Consortium. $2.93 billion.”

The amount was displayed on the billboard.

‘Eunsung Motor Group 2,930,000,000’, which was at the top, went down one space, and ‘OTK Company & Golden Gate Consortium’ price of 2,930,100,000 was displayed on it.

The conference hall was quiet.

No one was able to speak to the completely unexpected result.

That’s a $10 million difference.

With a difference of only $100,000, the owner of X-Cop was decided!

While everyone was engulfed in shock, Chan-young Han climbed onto the podium.

“Let’s see the paperwork.”

All processes are recorded, and if you raise a problem formally, you can verify it. It is not polite to the sales manager to do this all of a sudden.

“Come on, wait… … .”

The documents were already in Han Chan-young’s hands even before the agents were able to dry them. He looked into the amount column.

There was clearly written the number 2.930 million.

He looked inside the envelope to see if there were any other documents, but there was nothing. This one sheet of paper was all there was.

Branch manager Song Myung-hwan said firmly in a voice mixed with anger.

“It’s a bid obstruction. Come downstairs.”

Chan-young Han muttered with a look of disbelief.

“This is absurd… … .”

* * *

Of course it wouldn’t be funny.

He didn’t know he would lose by only $100,000.

Not only Chan-Young Han, but also other people could not hide their surprise at the shocking result. Hyunjoo noona and Eli looked at me with bewildered expressions.

I said in a low voice.

“I’ll talk to you later.”

Chan-young Han, who came to her senses, apologized to the branch manager Song Myung-hwan and came down from the stage. And he walked out of the convention hall with the people of Eunseong Cha group.

CEO Jeong Tae-ho, CEO Lee Jong-ho, and team leader Ha Chang-hoon came up to us and handed us congratulations.

“It was a wonderful workmanship, Governor Oh Hyun-joo.”

“Heh heh, I lost clearly. I’ll have to learn a bit more next time.”

“Congratulations. We look forward to seeing you again next time.”

Everyone thought that Hyun-joo noona wrote the final bid herself. That’s probably because my older sister is an M&A expert. There is no need to correct any misunderstandings here.

When I got out of the building, a car was waiting in front of the front door. We got into the car right away. Just like when he came, Taek-gyu took the steering wheel.

As soon as Hyeon-joo got into the car, she put a cigarette in her mouth and lit it as if she was waiting.

“Whoa.”

My sister’s expression softened a little.

Taek-gyu said something.

“Whoever sees it will think he’s a drug addict.”

“shut up.”

Ellie said sarcastically.

“I’ll tell you in advance. Do you know how nervous I was during the bidding process?”

“Sorry.”

Hyunjoo noona smoked a cigarette in an instant and then opened her mouth.

“What happened?”

“What?”

“It’s the amount.”

Ellie was also curious.

“Yes. Why did she write $2.93 billion?”

This is the part I was most worried about when I was spending the money. To the question of how you set the amount, can you not answer that you showed foreknowledge?

“Did you know that Eunsung would spend $2.93 billion?”

She groaned inwardly, but she shook her head calmly.

“Please. How would you know that?”

There must be a compelling reason on a commonsense level. Therefore, she ate Jajangmyeon and consulted with Taek-gyu, and they talked to each other.

“It’s all thanks to Taek-gyu.”

Hyunjoo noona asked, as if wondering.

“What do you mean?”

“I was just thinking of spending $10 million more than the upper limit my sister was talking about.”

“Why did you think so?”

It’s a sharp question, but luckily she has an answer ready in advance.

“It’s just a feeling. It’s because I don’t have much experience in this field, and I don’t understand the due diligence data properly. But when I heard that my sister said $2.92 billion as the upper limit, I had a strong feeling that other companies would have set an upper limit on more than that. So we raised $10 million.”

“Is it because of Taek-gyu?”

“I was going to spend 2.93 billion dollars like that, but in the end, Taek-gyu insisted on adding 100,000 dollars more. He said he would pay that much with his own money.”

Hyunjoo’s older sister had an expression that was hard to believe.

“Is that real?”

Taehyung said with a smirk.

“Huh.”

“Why did you spend another 100,000 dollars?”

Taek-gyu briefly answered that question.

“It’s fun.”

“… … .”

“Anyway, this is all thanks to me. You should thank me.”(Read more @ wuxiax.com)

Hyun-joo’s sister shot Taek-gyu, but didn’t say anything.

If the amount was the same, the two companies would have made a second bid on the spot. Then again, the bid would go up endlessly.

Ellie clapped her hands in admiration.

“Wow! Both of you were right. You’ll win by a hundred thousand dollars.”

Hyunjoo noona pressed her forehead with her finger as if she was in pain. But there was a faint smile on her lips.

“She told me never to spend more than .92 billion,” she said. Anyway, neither of you really listen to me.”

That’s why I’ve been scolded a lot since a long time ago.

“But it’s not an unreasonable amount, is it?”

My sister nodded her head at my question.

“This is a decent amount.”

In the main bidding, it turned out that all the companies were valuing at 3 trillion won or more. So it will never be expensive.

“Isn’t there any possibility that Eunsung Motor Group will throw in another proposal?”

It’s not the end of everything.

Even after being selected as the final negotiator, there are cases where things go wrong during the acquisition negotiations. Then, the chance passes to Eunsung, who offered the second highest amount.

But this is an exceptional case. As long as there is no funding or legal problems, the acquisition negotiation proceeds in a fixed order.

“It could be, but considering the relationship between Morgan Stanley, the manager of the sale, and Golden Gate, which won the bid, Typo Group will not be able to break its promise.”

In a security company, trust is life. The bidding result cannot be overturned unless there is a justifiable reason.

I remembered Chan-young Han, who left without saying hello after the bidding was over.

“What do you think of this result?”

A property worth over $2.9 billion changed owners for only $100,000. It would be hard to think of this as a coincidence.

However, I don’t think I would have figured out how much to spend with foresight and wrote down more than that.

Hyunjoo noona put her cigarette in her mouth again and said.

“Yeah, of course… … .”

* * *

Chanyoung Han thought in the car on the way back.

ten million dollars.

He took the X-Cop right in front of his eyes for only 110 million won. If necessary, he was willing to pay 100 times that amount on the spot.

Is this really a coincidence?