Chapter 877: Sudden Change
George Berkeley's words really aroused the great attention of Duke Carter Howard, and he immediately mobilized all the forces of the Howard family to investigate the matter.
This investigation was easily traced to Curtis Bard, senior manager of the metals trading department of the futures investment department of the Bank of Bahrain, and George Monroe, manager of the risk assessment department.
After some deliberation, Duke Carter Howard turned his attention to Curtis Budd, the initiator.
Time passes slowly.
While Duke Carter Howard was in full swing investigating, the liquidation of Philip Brothers in the United States was making great progress.
Generally speaking, the bankruptcy liquidation process of listed companies is cumbersome and time-consuming.
But there are exceptions to everything.
For example, Philip Brothers, which is now at the center of public opinion.
It's the final stage of the general election!
During the administration of Jimmy Carter, the policies and stability of financial markets were constantly criticized, and even though he later suppressed gold futures and saved some face for himself, he was still constantly criticized.
Faced with the problems of the same kind of futures market, Jimmy Carter wants to solve it as soon as possible and prove himself with practical actions, not that he is not decisive enough as the media said.
Therefore, under the pressure of layers of pressure, the liquidation team has increased its manpower, and the work has progressed quite quickly.
Even the management of Philip Brothers was very cooperative.
Without him, who makes the price of advanced copper futures and aluminum futures still rise now?
And the account of Philip Brothers has been locked, and in the face of a continuous upward trend, the longer it drags on, the greater the loss of Philip Brothers.
The board of directors has no hope and only looks forward to completing the liquidation as soon as possible so that it can respond in a targeted manner.
The data of the liquidation was constantly being aggregated, and the mystery of the Philip Brothers company was gradually revealed.
Wall Street shook when the preliminary liquidation results came out.
Philip Brothers has a controlling capital of $6.72 billion, $975 million in its own assets, a loss of $1.264 billion, and a net worth of minus $289 million!
The Philip Brothers company has negative assets and is insolvent!
This result has torn up the last trace of luck for many investors, such as Edward Jefferson of the Thunder.
After the results were announced, the liquidation team announced that it would conduct another review, and the results of the review would have to wait for some time.
But almost everyone knows that this result is true, and even if it is reviewed, it will not fluctuate much, after all, if you look at the members of the liquidation team, you can see that they will definitely not make low-level mistakes, unless they are willing to smash their own signboards.
......
"Mr. Philip, what are you thinking about?"
Looking at Kester Phillip with a changed expression on the other side, Toby Moulton asked with a smile.
After the release of the data by the liquidation group, Philip Brothers took another blow, and if its shares had not been suspended, the stock price would have been absolutely plummeting by now.
But it doesn't matter if it's not listed, everyone has a scale in their hearts, although there is a gap, but it is almost where to go.
So Toby Morton approached Kester Philip for the second time.
Last time, it was not negotiated because of the price, but this time, Toby Moulton believes Kester Philip will die.
He is confident that a preliminary agreement will be reached today.
Sure enough, Kester Philip came back to his senses, looked at Toby Moulton, took a deep breath, and nodded slowly: "Mr. Moulton, can I ask you two questions before reaching a cooperation?"
Toby Moulton raised his eyebrows, nodded and said, "As long as I know and it doesn't involve some confidential information, I can answer you." ”
Kester Philip looked at Toby Molton with burning eyes and asked, "What is the relationship between Galaxy Fund and Jiuding Securities Company, and what are you going to do after you acquire our company?"
Toby Moulton pondered for a moment and said solemnly: "First of all, the first question, the Galaxy Fund and Jiuding Securities Company do have some connections, and they belong to partners with a certain relationship, but what I want to say is that you don't need to be hostile to us, because from the beginning, it was the Philip Brothers Company that deliberately targeted the Galaxy Fund, and you provoked the trouble first, but you lost in this battle, you have to complain, and you should also blame the initiator and executor of this battle." ”
"The second question, after all, our company is a newcomer to Wall Street, and its development is relatively slow, so I plan to make a bet to see if we can save Philip Brothers, which is also the leader of the futures market, and it is a pity to disappear in the long river of history. ”
"I don't think Mr. Philip wants to see it go away. ”
"I don't know if Mr. Philip is satisfied with these two answers?"
Kester Philip sighed and said in a pleading tone, "I only hope that after you take over, you will be able to keep the name of the Philip Brothers Company as much as possible. ”
Toby Moulton immediately nodded and said: "Of course, this is a sign with great fame, it not only represents the honor of the Philip family, but also represents the history of the rise of the futures market, I like this name from the bottom of my heart." ”
Anyway, it's this time, and there is no loss in holding two sentences in his mouth, as for what to do later, Kester Philip doesn't care at all, Toby Morton of course follows his heart.
Kester Phillip softened, stood up, and held out his hand to Toby Moulton.
Toby Morton immediately got up, stretched out his hand to shake his hand, and said with a smile: "Thank you Mr. Philip for your generosity!"
Although a preliminary agreement has been reached, in order to have real legal effect, it is necessary to ask a third party for justice.
After all, the assets of Philip Brothers have been frozen, and the Philip Family Fund is the largest shareholder, so the equity transfer is too sensitive.
The next day, representatives of the New York Stock Exchange (NYSE) attended the meeting and stated the position of the NYSE before signing the agreement, and stated the responsibilities and obligations of Jiuding Securities.
Toby Moulton, of course, had no problem and agreed to all of them.
Kester Philip is even more relevant.
Under the spotlight, the three parties signed a tripartite agreement, and Jiuding Securities Company invested US$27.8 million to buy 41.7 million shares of Philip Brothers Company, which was originally held by the Philip Family Fund, and assumed the corresponding legal liabilities.
In the evening, Wall Street and New York evening newspapers carried a photograph of Kester Phillip and Toby Moulton shaking hands on their covers, and the news was also reported by major television stations.
Jiuding Securities Company is famous!
Institutions and shareholders who originally ignored Jiuding Securities Company have developed a strong interest in it, and the major media will certainly not miss the opportunity to mobilize their own forces to dig out all the news of Jiuding Securities Company.
Xia Yu's "New York Daily News" dominates the list, introducing Jiuding Securities Company at length, from the glorious rise history to the present, the whole article is a positive report, and gives a blockbuster title "miracle creator".
After many investors understand it, they are considering whether to hand over their funds to Jiuding Securities Company.
These changes made Toby Morton very happy, and he had the urge to immediately build a private equity fund.
Fortunately, he knew what was more important, suppressed the turmoil in his heart, and was ready to seize the opportunity to take advantage of the victory to pursue and take down the other shareholders of the Philip Brothers Company.
Just when Toby Morton was subduing Edward Jefferson of the Thunder Company and was in high spirits, the news from one of the company's acquisition groups swept away his good mood.
Immediately after that, the news that other acquisition groups kept hitting the wall came back, and he realized that something was wrong!
PS: The cervical spine and lumbar spine have been herniated for a while, compressing the nerves, and today it suddenly became particularly serious, the left hand stings as soon as it moves, and the pain from time to time is straight to the air, the update is relatively slow, please forgive me.
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