"Calm down, I'm sure things will turn around soon. Pen | fun | pavilion www. ｂｉｑｕｇｅ。 ｉｎｆｏ”

Hu Wenhai looked at the anxious faces in front of him and swore solemnly: "Shangfei thinks that with McDonnell Douglas 82 in his hand, he can be the king and hegemon in China." They probably haven't felt the surprise of being left with nothing overnight, right?"

......

Grumman's negotiations with McDonnell Douglas did not go well, McDonnell Douglas did not have much interest in being acquired by Grumman, and this way of marrying still hurt McDonnell Douglas's fragile self-esteem to be honest.

For McDonnell Douglas, a very real question is, your Grumman's own aircraft business isn't much better, is it?

If it weren't for Ambrera's little blue pill business, would you be able to climb the "Princess McDonnell Douglas"?

Obviously, without the little blue pill, Grumman wouldn't have been able to save himself, let alone McDonnell Douglas.

So there is a strong opposition to Grumman's merger on McDonnell's board of directors.

In the eyes of some McDonnell Douglas shareholders, the Grumman takeover will not solve McDonnell Douglas' current predicament.

"Mr. Norton, the outcome of this negotiation is still far from satisfactory. ”

Spacey, the vice president in charge of Grumman's negotiations to buy McDonnell Douglas, loosened his tie from the collar and simply threw the documents in his hand on his desk.

Fifty-three-year-old Spacey has a slightly lower hairline, but still has a face that makes it easy to get a good impression. But this face is now almost full of the word "tired", which really destroys his image greatly, but now he can't take care of these trivial things.

If there is no further progress in the negotiations, it is conceivable that his situation will definitely deteriorate. Tens of billions of dollars of business have been messed up, not to mention maintaining the position of vice president, the branch manager can be regarded as having served Grumman for more than 20 years.

But of course, if the acquisition ultimately fails, the first to be unlucky will be his immediate boss - Norton, who has returned to the position of Grumman's president.

When he realized that his abilities could not complete the task, Spacey happily threw the problem to Norton.

Norton stood by the window of the conference room, retracting his gaze from afar, seemingly unaffected by the bad news Spacey had brought to him.

"I was already working at Grumman during World War II. Norton exhaled deeply, and the focus of his eyes floated, as if immersed in his own memories: "At that time, the F4F Wildcat we produced was the only carrier-based aircraft that could compete with the Japanese Zero. Later, in the F6F Hellcat, we even pressed the Japanese to the floor and rubbed them hard. ”

"Two-thirds of the Japanese Air Force was destroyed by our Grumman's planes. At that time, Grumman was the most powerful weapons supplier to the U.S. Navy. Spacey, do you know what this is?"

"Because our planes are good enough?" replied Spacey tentatively.

Norton shook his head and sighed, "An infallible answer, just like Grumman is now." ”

"However, when a company is facing an existential threat, being safe is not the most appropriate strategy. Norton stretched out his hand, gently stroked the president's chair beside him, and shook his head: "Grumman must make some radical changes, otherwise we will have to say goodbye to the naval aircraft market." The F-14 is indeed a classic aircraft, however, its cost and price make it very unpopular with the Senate. Once we lose this market, we have little chance of re-entering. ”

"Grumman's success is that we don't stick to the rules. The solutions we can offer are always between radical and compromise, the perfect point. Like the F-14, Grumman's proudest skill is walking a tightrope in the face of adversity. ”

Spacey shrugged his shoulders and said helplessly, "Yes, Mr. Norton." I tried to find that perfect spot, but unfortunately ......"

"No, you're in McDonnell Douglas, you're never going to find that perfect spot, you're looking in the wrong direction. ”

Norton simply interrupted him and said unceremoniously: "Grumman's acquisition of McDonnell Douglas is not a matter of the two companies. You can't do miracles if you look at the negotiating table alone. ”

"So, what should I do?" Spacey spread his hands, curious.

"Take this address and go find a Chinese named Hu Jiefang. Norton placed a card on the table and pushed it in front of Spacey: "Go and tell him his terms, Grumman agreed." ”

......

"Grumman hasn't given up yet, Spacey and Norton, I'm afraid they have to go on now, right?"

This is the thirteenth takeover negotiation meeting between the two sides, and McDonnell Douglas has a clear understanding of Grumman's current internal situation, which can be said to be a "sure win".

As long as his side doesn't let go, Grumman's president Norton and his men and horses will have to be defeated. In this case, of course, McDonnell Douglas can open his mouth and ask for a price.

Grumman currently owns 23.3% of McDonnell Douglas, which is actually one of the largest shareholders. ”

McDonnell Douglas, the current general manager of McDonnell Douglas, is in charge of the negotiations, which shows that McDonnell Douglas actually attaches great importance to Grumman. It's just that at present, due to McDonnell Douglas's shareholding structure, the board of directors of the acquirer and the acquired are fighting openly and secretly, and he, the general manager, is really a little aggrieved. Reaching a conclusion in this acquisition as soon as possible is his most urgent idea.

"If Grumman can come up with a plan that is good for McDonnell Douglas' future, a merger is actually not out of the question. Douglas knocked on the table and said, "We are not opposed to McDonnell Douglas uniting with Grumman, but the plan must be favorable enough for McDonnell Douglas." ”

"Yes. Deputy General Manager Smith nodded and agreed: "If Grumman can support us and continue the MD12 project, our civil aviation business may not be lost to Boeing." ”

"If we can complete the MD12, it's hard to say who will occupy the American market with Boeing!"

"That's right!" echoed other McDonnell Douglas executives around Smith, apparently unconvinced by Boeing's success.

"But it's difficult, isn't it? Grumman himself has never been in the civil aviation business, and the acquisition of McDonnell Douglas should also take a fancy to our military aircraft business. If they want to spend 5 billion yuan on civil aviation, will Grumman's board of directors agree? If the board agrees, can Grumman's management agree? They are not afraid that they will be marginalized by buying McDonnell Douglas?

As soon as the voice of doubt came out, the conference room suddenly fell silent. If Grumman were to throw so much money into the civil aviation sector, McDonnell Douglas' current management would inevitably occupy a large number of the top management of the new merged company, which would certainly threaten Grumman's current high-level power structure. Will Grumman, as the acquirer, allow this to happen?

No matter how you think about it, this is an unlikely thing.

In fact, McDonnell Douglas really gave in to Boeing until 1996, when McDonnell Douglas was completely swept out of the Pentagon's bid for fourth-generation aircraft. As the source of 70% of McDonnell Douglas's profits, it will face a rout in the field of military aircraft in the future, which is the last straw that breaks the camel's back.

Until then, it was never easy to acquire McDonnell Douglas.

The launch of the MD12 project is the last struggle that McDonnell Douglas is unwilling to work for Boeing and makes in the field of civil aviation.

The MD12 is a large wide-body airliner in the A380 and 747 classes, with a four-engine double-deck structure, 500 to 630 seats, and an estimated research and development cost of up to $5.5 billion. McDonnell Douglas itself will never be able to come up with this money, so it can only find suitable partners around the world to share this risk.

Initially, there were aviation companies interested in the island, but in the face of at least two billion dollars in tickets, they could only stop fighting.

In the end, the MD12, McDonnell Douglas's turnaround aircraft, did not come from the drawings to reality.

McDonnell Douglas wants Grumman to spend tens of billions of dollars to acquire McDonnell Douglas and then invest at least $5 billion in the research and development of MD12, which is much more than Grumman's own financial capacity can afford.

Although Grumman is rich, in view of McDonnell Douglas's decline in the civil aviation field in recent years, he categorically has no idea of playing heartbeat with McDonnell Douglas management.

What's more, McDonnell Douglas has many additional clauses in the acquisition plan that are also unacceptable to Grumman, such as personnel arrangements, company names, management structures and business allocation, etc., in the final analysis, McDonnell Douglas is not cornered, and it is still the McDonnell Douglas who can wrestle with Boeing, and the arrogance still exists. If you don't get rid of this arrogance, McDonnell Douglas won't be so easy to submit.

The root of all the problems is that McDonnell Douglas is not McDonnell Douglas four or five years later - the three major illusions of life also apply to enterprises, especially "I can fight back".

There was a dense sound of footsteps outside the conference room, and soon the door was pushed open from the outside. Spacey and the rest of the Grumman negotiation team walked in unhurriedly, and even greeted each other quite kindly.

"Mr. Douglas, I think our negotiations should come to an end as soon as possible. ”

As soon as he sat down, Spacey pulled out a document and threw it on the conference table.

Yesterday, Grumman acquired a 0.8% stake in McDonnell Douglas from Kelkite & Co. If our negotiations can't come up with a single outcome, Grumman will have to ...... A hostile takeover was launched. ”

"I think you should be aware that on McDonnell Douglas' board of directors, there is currently more opposition to Grumman's takeover than you do. Douglas retorted: "If Grumman adopts a hostile takeover, McDonnell Douglas's major shareholders will also choose to increase their holdings and expand their shares, and Grumman's acquisition will greatly exceed your financial capacity." ”

Spacey frowned slightly and exhaled. Similar encounters have already taken place countless times, and a hostile takeover is not a good deal for Grumman. Because hostile takeovers are bound to be at a premium to the normal stock price, from 50% to several times, or even a cap. In this way, Grumman's funds will really not be able to complete the acquisition.

Today, however, the situation has changed.