After staying in Xiangjiang for another half a month, the senior staff of the Standard Chartered Bank headquarters sent a delegation headed by the bank's vice president to Xiangjiang to conduct further negotiations with He Guoyuan, Yao Mingchengyi and the company's legal team, and determined the initial cooperation agreement.

Xu Zhi also felt more confident after learning about it, and at the same time, Goldman Sachs also sent an invitation letter, and Xu Zhi got on his private jet and flew directly to New York.

Los Angeles is the cultural center of the United States, while New York is the world's financial center, home to the headquarters of 17 Fortune 500 companies, the world's largest stock exchange, the top universities, and the unique Wall Street in the world.

Goldman Sachs is headquartered here, and although Disney is headquartered in Los Angeles, the acquisition will take place in New York, where Disney is listed.

At the Sheraton Hotel in Manhattan, a small gathering by Goldman Sachs is being held, and the main guests are Xu Zhi and his party, as well as the shareholders and management of Disney.

After nearly 60 years of development, Disney has grown from a single store to the entertainment giant it is today, but expansion has come at a cost, and founder Walt Disney has held fewer and fewer shares in the company in the process of raising funds and cashing out many times, and by the time of his death, he controlled less than 10% of the shares.

When Walt Disney was alive, these were naturally not problems, not to mention that there was still a little share, even if there were no shares, as the founder who led the company to grow and develop, he had absolute control over the company, and the management was respectful, and although the other shareholders had enough shares, they would not target a person who could bring them money.

But after the death of Walt Disney, all the situation has changed, his son-in-law Ron Miller inherited the unification, but he obviously does not have the ability of his father-in-law, Disney has been in his hands for more than ten years, losing money every year, and the most profitable animation production business is also because the idea is still in the 60s, rejected by today's children, and the transformation to make movies has repeatedly failed, each time the loss is a few million, more than tens of millions of dollars, Disney even if it has a mine can not afford to play!

Disney's major shareholders are all well-known large funds in the United States, such as the American Coal Workers Pension Fund, the American Housing Fund, the California Police Union Fund, and so on...... At this moment, there are outsiders who intend to buy the entire Disney, and they can cash out a huge amount of cash and leave, and they are naturally very interested, after all, Disney has become a burden in the hands of these funds.

"Mr. Xu, this is Mr. Alan Walker, the vice president of Disney. Curry took Xu Zhi to introduce the important people in the venue.

Xu Zhi shook hands and greeted, "Hello, Mr. Walker." ”

"Mr. Xu is really a hero, and I hope that in the future, we can have a better cooperation. Alan Walker said politely.

There are a large number of factions in any company, and Disney, a company that has existed for decades, is no exception, and when Walt Disney was alive, these people were just petty fights, and when the second generation of leaders came to power, the internal strife was even more fierce. This Disney change of ownership is a rare opportunity for many people.

When the new owner comes to power, a group of teams that originally belonged to the Disney family will inevitably be excluded from the core management in the future, and the vacant positions now will be a piece of delicious fat.

"Mr. Walker is gracious and hopes that we can work together to make the Disney Company the greatest company in all of America. Xu Zhi said with a smile.

Goldman Sachs is indeed very capable, and with their strong intervention, most of the shareholders have agreed to sell their shares, and among the management, Goldman Sachs has only contacted a few top executives who are not from the Rohn family and reached an agreement.

The Disney Company is still a family business, and Ron Miller will never agree to sell the Disney Company, so the early peace talks are only going on in secret, reaching an agreement before attacking the current top management.

In order to stabilize Disney's internal staff and make it easier to pass the review of the Committee on Foreign Investment in the United States in the future, Xu Zhi's commitment to the management is not to lay off employees for two years and to inject $100 million a year for the next three years.

Such a commitment, one is to show their economic strength, and the second is to buy the hearts of all employees, after all, employees go to work for salary, compared to the previous stormy Disney, the future of the new boss is naturally more stable.

After chatting with several executives, Currie took Xu Zhi to the current shareholders of Disney.

These shareholders represent large funds, which have the largest amount of money in the entire United States, so they have tentacles in all walks of life, and this time they are not opposed to selling Disney shares, but they still say they want to talk to the acquirer.

"Mr. Xu, I don't know if you have considered trading Disney shares with Midea Electronics. Among the shareholder representatives, a middle-aged man with a big belly who was already bald asked.

In international mergers and acquisitions, most transactions do not use cash, but the shares of the two parties are exchanged on a pro rata basis, even if they are not listed companies, they can be traded according to valuation.

This type of merger and acquisition is actually similar to a business combination, the advantage is that the acquirer will not owe a huge amount of debt due to the merger, and the acquired party can also get some shares, the more well-known case of this kind of acquisition is the acquisition of Chrysler by Mercedes-Benz Motors in the 90s.

However, those who are willing to use this method for mergers and acquisitions are generally the kind of enterprises whose shareholders are not strong, and when the management controls the company, they do not care about the dilution of the shares, and they want to keep increasing the company's share capital to ensure their absolute control over the company, and at the same time can expand the size of the company.

There is also such a case in Xiangjiang, that is, in the 70s, Hongkong Land acquired the Dairy Farm Company, and Hongkong Land exchanged shares for shares, and acquired the Dairy Company without spending a penny, but because of this, the equity was diluted on a large scale, laying the groundwork for the future coveting of Chinese capital.

Of course, Xu Zhi will not make this kind of mistake, if he can use money to decide the problem, he must give priority to solving it with money.

So he said with a smile: "Midea is not a listed company, how to accurately value it is a very time-consuming thing, and I don't want to delay this acquisition because of this." ”

The market value of a listed company is determined by the intangible market after a large amount of internal data has been published, and most people will admit that all transactions can be undocumented.

But the value of non-listed companies can generally only be roughly estimated, and 10,000 evaluation teams will have 10,000 different results, not to mention that Disney is also an asset-heavy company, and it is the most idiotic behavior to exchange shares with a new star in the newly developed technology industry.

The bald man saw that he was rejected, but he still didn't give up, and asked, "Then I don't know if Midea's company has plans to go public?"