Chapter 874 initiates acquisitions

The situation is as Xia Yu expected, the Philip Brothers company is surrounded by investors, and investors are clamoring to get their funds back, even if they don't want any income just the principal!

But with the fact that Philip Brothers can't even get a margin, where can they get the funds back for investors?

Therefore, Tendler Wells and other high-level executives are very busy, on the one hand, they are constantly dealing with investors who come to their doors, trying to appease their emotions, and on the other hand, they are also liquidating low-yield investments and trying their best to withdraw funds.

As for the projects with better investment conditions, they have not yet been liquidated.

Because Tendler Wells and others know very well that the company still has a certain amount of value at present, but if all projects are liquidated, it is accelerating its own death and cutting off the possibility of a comeback, because it will lose all value.

After all, the company of Philip Brothers is actually insolvent, and all its assets are liquidated at normal prices, which is not enough to pay off all debts, and when the time comes, there will be an empty shell and a group of employees waiting for their salaries to be paid, and a fool will take over!

New York may be short of something, but there is no shortage of financial talent.

As the first profession that Americans yearn for, there are too many middle- and lower-level financial talents, and the top elites may not have to worry about eating, but the middle- and lower-level personnel are too replaceable, and the powerful large financial institutions are the most lacking in middle- and lower-level talents.

In dealing with these matters, Philip Brothers did not give up hope, and the directors frequently roamed Wall Street to try to find someone to take over.

Philip Brothers has the reputation of a futures leader, and has accumulated a lot of foundation in sixty or seventy years, of course, there are institutions interested, but they do not dare to take that step when they do not know the real debt.

After all, the Philip Brothers company is valuable, but if the value is not enough to cover the debt, then it will be a loss to take over!

What's more, taking over is not risk-free, with the current market of the futures market, it is not necessarily easy to mix up, and it is easy to be dragged into the water if you are not careful.

In the face of this situation, many agencies have secretly promoted, intelligence sharing, layer by layer to dig the bottom of the Philip Brothers company, and at the same time pushed the investigation team to first account for the assets of the Philip Brothers company, trying to obtain the most authentic business intelligence.

It's the seventh day in the blink of an eye!

Kester Philip, with mixed feelings of anticipation and apprehension, once again entered the Fed's office building, and after a few minutes, met with Fed Chairman Paul Volcker.

"Mr. Volcker, I'm sorry for taking your time. ”

Kester Philip lowered his posture and said apologetically.

Paul Volcker smiled and said, "It doesn't matter, just I'm not busy!"

"Mr. Volcker, I wonder if the proposal you made last time has come to fruition?"

Kester Philip was in an impatient mood and asked straight to the point, with a look of apprehension in his eyes.

He had come to the Fed three days earlier, and he had also met with Paul Volcker, hoping for the Fed's help to tide over the difficult situation for Philip Brothers.

At that time, Paul Volcker did not give a clear answer, but said that he could propose it to the Committee and give him a reply later.

But the past few days have been fruitless, and today is the last day, and Kester Philippe, of course, is anxious, so he visits again.

Paul Volcker groaned and looked at Kester Phillip's wistful gaze.

He shook his head slowly, and said as Kester Philip's eyes gradually dimmed, "I'm sorry, Mr. Philip, this proposal didn't go through. ”

Kester Philip smiled reluctantly, pursed his lips, and asked reluctantly, "Can I know what the reason is?"

Paul Volcker had a picture of yesterday's committee discussion in mind, and he glanced at Kester Phillip and shook his head in refusal: "I'm sorry, but this involves internal Fed secrets. ”

Not only is he, the chairman of the Federal Reserve, reluctant to intervene, but also because there is a lot of opposition within the committee, and as for the real opposition of those bigwigs, Paul Volcker can guess a little, but he wisely chooses to ignore it.

Although he is the chairman of the Federal Reserve and has more power over financial policy than the president of the United States, he still has to respect the opinions of the vice chairman, the executive committee and the 12 chairmen of the Federal Reserve Bank, who are well aware of the nature of the Fed and his true position.

It would be good for him to mention this kind of financial policy that does not involve the general direction of financial policy, and it is obvious that the bigwigs have calculations, and he will definitely not take the initiative to intervene and confront them, otherwise he is likely to be replaced after a year like the former chairman of the Federal Reserve, that is, the current Treasury Secretary G. William Miller.

And his promise to the proposal is also a kind of temptation, secretly taking the opportunity to observe some situations, after all, he has only been in office for a year, and he still needs to further understand the complex relationship within the Federal Reserve.

"Oh, I'm sorry for making such an unreasonable request. ”

Not getting the answer he wanted, although he had expected it, Kester Philip was inevitably even more disappointed.

Seeing Paul Volcker looking at him calmly, Kester Philip thought about it, took a deep breath, and decisively offered his farewell.

Paul Volcker simply dropped him off the office door and turned to his own work, and he still needed to find a way to adjust his financial policy to further stimulate the U.S. economy.

Let's talk about Kester Philip, before he was about to get into the car, he looked back at the headquarters of the Federal Reserve, clenched his fists for a long time, and finally released weakly, and got into the car with a gloomy face.

"Go back to the company first!"

......

As night fell, those who paid close attention to Philip Brothers knew that Philip Brothers had not seized this last opportunity.

Sure enough, early the next morning, the New York Supreme Court issued an order to freeze the assets of Philip Brothers, and Philip Brothers officially entered the asset liquidation procedure.

Subsequently, Deloitte & Touche Tohmatsu was appointed to take the lead in formulating the asset liquidation plan, and the management of Dewey Lovers & Associates, Standard & Poor's, the New York Stock Exchange and Philip Brothers formed a liquidation team to liquidate and announce the assets of Philip Brothers.

Subsequently, the New York Stock Exchange temporarily delisted Philip Brothers.

The share price of Philip Brothers is fixed at $1.58 per share, and the market value is fixed at $237 million!

At the close of trading yesterday, the stock price of Philip Brothers was still at $1.87 a share, but because it was determined that Philip Brothers would be liquidated today, the stock price opened sharply as soon as the market opened in the morning, and investors who did not report their luck were even more desperate.

But it was useless to die, the stock was still not taken over, and with the temporary delisting of Philip Brothers, investors' funds were half trapped, and if they wanted to be listed again, they could only wait for Philip Brothers to be profitable again, but it was good to think about it.

The remaining half may depend on whether there are institutions willing to buy from these investors offline, and as for the price, it depends on the psychological price of buyers and sellers.

The market value of $237 million is already very low, and for the sake of insurance, Xia Yu immediately ordered Toby Morton to dispatch.

Just when all eyes were on the liquidation of the assets of Philip Brothers, the employees of Jiuding Securities Company quietly took the list of shareholders and the planned acquisition plan according to the group, and found the shareholders on the list.