The second offer was still rejected, and Peter did not continue to offer, but left the other party for five days, and announced that it was still being discussed internally.

Disney's board of directors met twice in a row to discuss the intentions of the Blackstone Fund. As for Ron, who jumped up and down to prevent the merger, he was ignored by everyone.

What about Walt Disney's son-in-law? The entire Disney company has been tormented in your hands, and now that many shareholders finally have an opportunity to cash out, how can this opportunity be wasted.

Affected by this, the stock price fell sharply, the original Blackstone fund quotation made the stock price rise by 23%, and now because of a lot of negative news, the stock price has fallen by nearly 20%, almost back to the pre-liberation period.

And Peter also took advantage of this opportunity to buy Disney shares in the secondary market, in fact, when he learned of the boss's plan at the beginning of the year, he was already secretly buying Disney shares, after all, it is now a low-price acquisition, the more you buy, the less money will be spent when you buy the whole in the future.

At present, Blackstone already controls 10% of Disney's shares, and even at the current premium of 30%, it can save an additional $30 million.

Of course, this can only be said to be pocket money, and it is good to be a little less, but the priority is still to be distinguished, and the most important thing in the acquisition is to complete the acquisition.

Therefore, even if it is delayed for a few more days, more money can be saved, Peter still according to the original plan, personally led more than 30 elites and dozens of legal professionals under his command to the headquarters of Disney, and the two sides negotiated for 7 days in a row.

In the end, the two parties reached an agreement on the price, and Blackstone Fund will buy the entire Disney Company for $2.4 billion, while taking on all the company's debts totaling $1.24 billion.

Of the $2.4 billion acquired, $1.8 billion came from Standard Chartered Bank, and the rest was handled by Citibank, which was introduced by Goldman Sachs.

(Because it is a full acquisition, even the previously acquired stocks need to enter the trading system, which is equivalent to a left-handed exchange of right hand)

Combined with the liabilities that need to be incurred, the acquisition of Disney is equivalent to spending $3.6 billion.

But it's all worth it, Disney's core assets are two Disney resorts in the United States and their hotels, these two resorts generate hundreds of millions of cash flows every year, but because of the huge loans caused by excessive upfront investment, high maintenance costs, and the oil crisis in the 70s, the people's willingness to spend has plummeted, resulting in poor returns in recent years.

But now it is 83 years, the second oil crisis has passed, and at the same time, the US economy has begun to turn around, and the people's willingness to travel and spend has increased.

And if there is more money, it is naturally full of warm thoughts**, and in a few years, there will be more children, and the people who come to Disneyland will inevitably increase greatly soon.

At the same time, the Reagan administration will significantly reduce interest rates, which will also stimulate the economy and reduce the interest expenses of Xu Zhi and Disneyland, which is also a large amount.

The soon-to-open Disneyland in Japan is a real cash cow, but unfortunately because Disney management did not dare to make huge investments, Japan's Disney belongs to the franchise model, by Disney export technology and authorization, Japanese investment and management, Japan has all the equity.

But with Disney's naming fee alone, 5% of the tickets of the Japanese Disney Company, and 10% of the internal rent sharing, the net profit increased by a year is as high as 10 million US dollars, and there are still a lot of cats in it, such as a large number of toys and souvenirs sold inside Disneyland, which also have huge profit margins.

In addition to theme parks, Disney has a large number of resorts, with a total of 14 resorts around the world, the largest of which is in Hawaii, a tourist destination in the United States, with 351 hotel rooms.

Disney in later generations, there is also a huge business, which has not yet been involved, that is, Disney cruise ships, in the original history, this business developed in the mid-90s, and in the 21st century, Disney has 8 large cruise ships, known as the walking Disneyland.

And the current 80s, is also the best time to develop this project, the oil crisis has just passed, oil prices began to return to normal levels, the whole world is trapped in the ship disaster and shipping crisis, at this time the price of manufacturing cruise ships must be at the lowest point, and the US economy will usher in 20 consecutive years of growth, and the middle of the 4 years of Bush as president of the economy is a little worse.

As long as Disney's business situation improves in the future, then this cruise ship project can be launched.

And in terms of asset-light:

Disney owns hundreds of patents for comic book characters, including the most well-known Mickey Mouse and Donald Duck, and there are also a large number of animation productions in terms of film rights, and these annual merchandise and licensing are also one of Disney's main incomes.

What surprised Xu Zhi even more was that Disney has a TV channel: Disney Children's Channel.

Disney Channel officially launched on April 18 this year, is a paid channel, mainly used to broadcast Disney's own production of cartoons, series, original movies and so on.

Disney's strongest thing is the whole huge team, and the development of the past ten years has not been smooth because after the death of the founder, the successors behind them are not capable enough, and they dare not be too flexible, and they are unlucky to encounter 2 oil crises.

And now, Xu Zhi has taken over Disney, as long as the business and film projects that have turned Disney over and grown rapidly in later generations are provided, Disney, which has strong execution, will soon be able to get out of the predicament and soar to the sky.

However, negotiating a price with Disney's board of directors does not mean that the transaction can be successfully completed, and any country will restrict foreign companies from acquiring domestic companies, while in the United States, foreign acquisitions of American companies must be approved by the Committee on Foreign Investment in the United States before the transaction can officially begin.

The Committee on Foreign Investment in the United States is the executive branch directly under the White House, with the Secretary of the Treasury as the overall leader of the department, and the other members are members of eight executive departments and seven White House agencies.

While nominally the department controls all foreign investment, in practice, only overseas mergers and acquisitions by large corporations, U.S. national security, and jobs that threaten large numbers of jobs are brought to the department's attention.

Once, when Midea acquired the RCA TV business, because of its small scale, the Committee on Foreign Investment in the country only asked whether there would be a large number of layoffs, and after receiving a negative promise, it approved the acquisition.

But this time is completely different, this is the largest foreign acquisition in U.S. history outside of the oil industry, and it is clear that CFIUS will conduct a full investigation into the acquisition.