Vol 6 Chapter 390: Not many people are ruthless

When in a desperate situation, people will not have any additional requirements, so they will choose to hold the outstretched hand regardless of the conditions attached to that hand.

But when the desperation is over, that's another matter.

A week after the announcement of the acquisition of Bear Stearns by Xiaomo, the employees of Bear Stearns were extremely angry.

The employees of Bear Stearns are so angry because they hold more than one-third of Bear Stearns' shares, which is $2 per share, which means that their overall losses are as high as billions of dollars.

Therefore, they firmly opposed the $2 purchase price, thinking that it was simply taking advantage of the fire.

The market is generally sympathetic to them. These days, many TV stations’ interview cars have stopped at the gate of Bear Stearns. They have 85 years of history for this company, and have successfully made profits in 83 years, but it seems that it will be very The dying company conducts comprehensive interviews.

In these days, investors, mainly institutional investors, have used Bear Stearns’ stock price enough, pulling it for a while, and at the lowest point, it was only $2.5 per share, but then it started again. Rising, currently stable at around 8 US dollars.

In addition to those institutions, there are also some bold retail investors who are pushing up the stock price. They bet that Bear Stearns will raise prices to Motorola, and Motorola will agree to raise prices. This can be said to be a practice. Follow Buffett's famous saying "I am greedy when others are afraid".

Xiao Mo, in the conference room, Jamie Dimon glanced at the opposite building and opened the mouth to end everyone's argument, "Agree to their request for a price increase," he said.

"But, a dollar for a dollar talk,"

Some people want to speak out against it, because from the current conditions, even if the price is raised by one dollar, it means that the acquisition cost has risen by 50%.

"At the same time, the human resources department immediately began to prepare a severance letter, and if it felt that it could be retained, they were notified to come for an interview, but the total number of retained personnel should not exceed one-third of the total number of employees."

Knowing that I don’t need to go bankrupt, I clamored to raise the purchase price and threatened me?

Am I so easy to handle?

Could it be that you all thought you were Feng Yiping?

Don't you want me to increase the purchase price in order to make the shares I hold more valuable? Well, I will satisfy you, but don't expect you to stay and work.

After hearing what he said, those who were right on the contrary suddenly appeared satisfied.

The total number of employees in Bear Stearns exceeds 14,000. Such a move means that they will lay off more than 10,000 people. In terms of Wall Street salary, this will undoubtedly save a huge amount of cost.

If it weren't for such an opportunity, in the United States, where is there a merger and acquisition that can sever so many employees?

According to the original agreement, the acquisition will be completed within the next quarter, and 10,000 people will be laid off tomorrow, which is equivalent to saving hundreds of millions of wages and expenses for the next few months.

"I hope that the first severance letter will be delivered to the target at 9 o'clock tomorrow morning," Jamie Dimon said lightly. "That's it, the meeting is over!"

The executives slowly dissipated with excitement.

A meeting directly determines the fate of tens of thousands of people. For them, it is also a very rare experience, and it is an experience that allows them to fully realize their rights.

This experience is really not comparable to the experience brought by some successful exchanges.

As for the price increase, although a one-dollar increase is a 50% increase, but to be honest, how about a few dollars increase?

At best, it is only a $1 billion transaction. Not to mention that it is too common for the people present at the meeting. Just say that Bear Stearns was bought for $1 billion. Is the price high?

Still, the price of their building is more than one billion dollars, isn't it?

Therefore, if you increase the point, you should increase it. It is not too ugly.

Jamie Dimon was standing in the corridor outside the door. A secretary was standing beside him, recording what he dictated. When he saw a person, Dimon beckoned, "Brad,"

He asked the person in charge of the assets department who heard the sound, "Compared with the acquisition, how is Hilton's current situation?"

"According to our assessment, the overall has shrunk by 29%," Brad said.

"29%," Dimon groaned, that is, it has fallen by nearly a third.

"You set up a team to talk to John about the price of our loan to Blackstone," Dimon folded his hands in front of his chest. "The price, start at 80%."

Didn’t you offer 55%, then let’s take your time.

"80%?" Brad hesitated.

He knows the specific situation, so he feels that the other party simply cannot accept such an offer.

Dimon smiled, "Talk, talk slowly, and when you can't go on talking, make concessions slowly."

"May I know what our bottom line is?" Brad asked.

He really didn't want to take on such a task, because it must be a difficult job to get results, but it is easy to get scolded.

He had some doubts at this time, whether he had done some work badly recently, so Dimon arranged for himself such a task.

"If it is less than 70%, you must ask me," Dimon said.

Brad wants to ask him now, because he knows that John and the others will not accept the 70% plan.

He bit his head and called John.

…………

This afternoon, Brad saw John who came by appointment again. Seeing that John also took a few people on this trip, Brad felt a little relieved.

This shows that John obviously knows that the focus of the talks between them is bargaining.

But he can only feel at ease for a while.

After the greeting, he quickly turned to the topic, “Based on our in-depth investigation and evaluation of Hilton’s current operating conditions and subsequent development, we believe that the US$5.5 billion loan to Blackstone has shrunk by a certain percentage, but The reduction is within 20%, so it is undoubtedly appropriate to sell to you at a reduction of 20%."

John's reaction immediately made him uneasy.

"That is, 80%?" John smiled and scanned the group of Xiaomo. "Are you sure this is not a joke?"

Seeing the way John smiled, Brad was a little panicked, "John, we think this is a very sincere offer, and we will also in the follow-up process, for..."

John is already packing his own things with one hand, "Then I think we don't need to waste time at all,"

When speaking, he had stood up.

The few he brought with him also followed suit and put things in their bags.

Brad looked at each other. Isn't this style too tough? If you really don't agree, you just lift the table.

However, the boss’s agreement is to speak out on your knees, "Everyone, everybody~www.wuxiaspot.com~ He walked over to John and said, “I'll be honest, Hilton treats Feng just like Bear Stearns treats us. The same is a very rare and good goal,"

"We believe that the benefits of the successful acquisition of Hilton will definitely be higher than what you paid,"

"Of course, we are also very happy to hear your opinion,"

Anyway, don't you pay the price?

John shook his head. "First of all, I want to say that Bear Stearns may be unique to your company, but Hilton is not to us."

"Secondly, the starting point for our proposal is to take care of Wall Street, which has encountered unprecedented challenges at this time."

"But since your company treats us like this, what else is there to talk about?"

"Please tell Dimon to prepare our nearly 2.75 billion fund income as soon as possible. If we do not get any news within a week, a lawyer will contact you."

"John," Brad was anxious, "we would really love to hear your offer,"

"Our offer, Dimon is very clear, goodbye, stay," John actually took his few people and walked away very resolutely.

Brad said in his heart, I just said don’t do this unreasonably, but you let me do it, he immediately picked up the phone, "Dimon..." Because of a little emotion, he explained the situation of the meeting in a few words. .

Dimon was also a little confused, but his reaction was so intense? "Ask him again tomorrow, down to 70%,"

He believed that Feng Yiping was interested in Hilton, so he would definitely be interested in the loan in his hand.

A few minutes later, Dimon received a call back from Brad, "John said that he has no time these days, because Jobs will come to the foundation to listen to relevant reports."

Dimon:...

Do you want to be so cruel?