"Boss, SoftBank has set a new price for the Sprint acquisition. Peter Lei was holding a newspaper and when he found Liu Ruoyi, Liu Ruoyi was reading the information brought by his assistant Fu Yunhui.

The reports and important matters of each company must be collected and sorted out by Fu Yunhui, an assistant, and then classified for Liu Ruoyi to make decisions according to their priorities.

"Peter, how much did SoftBank open over there?" Liu Ruoyi raised her head, a good opportunity will always be seen by only one person.

"$17.5 billion!" Ray said.

"We're going to offer $20 billion!" Ms. Liu said without hesitation.

For competitors, within an acceptable level, Liu Ruoyi has the opportunity to use money to suppress people, and he will never be soft.

This price has naturally been evaluated, and Liu Ruoyi will naturally let Lehman consider some possibilities of mergers and acquisitions before deciding to do something.

Chandler, who has contributed to the integrated memory market, is now the president of Lehman's M&A business, although he does not know that Liu Ruoyi is the boss behind Lehman, but he is facing a new business from West Coast Capital.

Chandler was very excited and personally formed a team to keep an eye on the big deal.

Now more than 10 billion US dollars of mergers and acquisitions are enough to be included in the world's top 10 mergers and acquisitions.

Chandler certainly won't let go of such a big project.

He carefully sorted out the fundamentals and key players of the sprint, as well as the valuations and offers, and even the competitors he might have encountered.

Because of this, Liu Ruoyi will show an inevitable momentum for the sprint.

In many links in the middle of the merger and acquisition case, Lehman is the head snake rushing to the front, and there may be small losses, but it is impossible to suffer big losses.

"$20 billion?!" Peter Lei swallowed a mouthful of water, and in a blink of an eye, billions of dollars were gone, although he knew that Liu Ruoyi was rich, but he bought it like this.

This is only the first time Peter has experienced it himself.

In the past, whether it was the Indian market or the Bangladeshi market, the investment was only billions of dollars.

...

Toyo.

"Righteous King, I don't think we should follow. "As the chief financial officer, Yusha Yamamoto should be responsible for the specific valuation of the acquisition.

Although most of the valuation specifics are handled by the team of Merrill Lynch M&A consultant William Hill.

Like Lehman Brothers, William Hill has made a purchase cap of $20 billion.

Compared to the current stock market price, this valuation is already at a premium of more than 50 percent.

Sitting in front of a set of precious tea sets, Murakami quietly lifted the authentic purple sand teapot that had just boiled and poured it into a row of teacups like a dragonfly.

Then he chose a teacup and handed it to Yuna Yamamoto.

"Miss Yuxia, please have tea. Murakami invited very sincerely.

Yuna Yamamoto smiled helplessly and took the tea, blew it gently, and then drank it all.

A kind of boiling heat accompanied by sweetness and bitterness penetrates the taste buds, with a burning heat into the stomach, which makes people feel a strong warmth all of a sudden.

In the early spring, the Orient is actually warm and cold.

"Miss Yuxia, how much do you know about Liu Ruoyi of Xiangjiang, also known as Miss Annie, the financial queen of Xiangjiang?" asked Masayoshi Murakami.

"Annie, the financial queen of Xiangjiang?" Yuxia Yamamoto didn't have much psychological preparation for the seemingly unrelated topic of Murakami Masayoshi.

"To be honest, I'm not very familiar with her. Yuna Yamamoto said apologetically. "If I say I know, I know more about her extraordinary achievements in the entertainment industry. ”

Since there has been no intersection between them, Yuxia Yamamoto really hasn't put much effort into understanding Liu Ruoyi.

The affairs of Xiangjiang are still too far away for the East.

"Miss Yuxia must be very clear about AMS, which is the AMS that pulled SS from the throne of the memory industry last year. Murakami looked at his right-hand man with some displeasure.

Maybe it's been too smooth for so many years, and his subordinates seem to be a little arrogant.

"I'm sorry, Righteous King, I'll do my homework next. Yuna Yamamoto certainly knows that Murakami's words are not untargeted, but rather a reminder to himself that as a member of the M&A decision-making team, he needs to learn more about his competitors.

"This is a business wizard with excellent vision and no last resort, and her vision has transcended this era. We have to follow up and bid $21.5 billion!" Murakami said leisurely.

It's a pain to live in the same era as people like that.

Murakami Masayoshi doesn't know his own glory in the last plane, and this time and space has been seriously truncated, otherwise he will be even more sad.

"Hello!" Yuna Yamamoto nodded violently.

The boss has already made a decision, and Yusha Yamamoto can only carry it out.

This is not the time to express your opinion.

...

"I really don't give up. Liu Ruoyi listened to the latest bidding offer. I can't help but have a little headache.

This kind of competition is actually the most unfavorable situation.

After the two sides hit the red eye, it is often an irrational offer.

The price of $21.5 billion is also quite uncomfortable. The premium has exceeded 100%, and it is obvious that the other party also has the mentality of wanting to win the sprint.

For this price, Liu Ruoyi believes that the people on the Sprint board must be very impressed.

"We offer $22 billion, plus an additional $8 billion in the next six months! At the same time, if Sprint shareholders are not willing to sell the shares, we can accept up to 30% of the equity value to exchange shares with PCCW!" Liu Ruoyi thought for a long time before quoting her price again.

If there are shareholders who are reluctant to sell and are optimistic about the future of Sprint, then Liu Ruoyi also gives them a chance to choose, according to the current price, swap 30% of the shares, which is equivalent to about 23% of the shares of PCCW in exchange for 30% of the shares of Sprint.

This swap ratio will not allow Liu Ruoyi to lose a controlling stake in the two telecom operators.

And it is beneficial for PCCW to acquire opponents more easily.

But Liu Ruoyi's offer is very attractive to some shareholders who are interested in long-term investment.

PCCW's development in Asia (including mainland Australia) is obvious to all, and its development model has unique advantages, and more forward-looking investors will certainly see that Liu Ruoyi will bring new impact in North America, and maybe there will be good development opportunities after Sprint is acquired by PCCW in the future.

Now Liu Ruoyi continues to increase the weight and indicates that he will invest an additional $8 billion, which shows the attitude of vigorously developing Sprint.

This is the most essential driving force of mergers and acquisitions, through mergers and acquisitions to enhance competitive advantages to obtain more benefits, especially Sprint belongs to the weak position of North American telecom operators.

Those who want to compete freely certainly like to see that the North American telecom operator market is the top three and is most beneficial to consumers.

Sure enough, after Liu Ruoyi offered this price, there was a new change in the attitude of the Sprint board of directors towards the two bidding companies.

Overall, Liu Ruoyi's offer is more sincere and provides more opportunities for everyone to choose.

Whether it is a shareholder who has cashed out and left, or a shareholder who wants to stay and continue to wait for new opportunities, Liu Ruoyi has taken care of it.

In contrast, Murakami Masayoshi can't offer the same conditions.

Masayoshi Murakami doesn't have a company as good as PCCW to do the exchange.

...

It is also strange to say that after Liu Ruoyi's new plan was released, although it was clear that there were billions of dollars more in the price of the price, after the news came out, the stock market did not fall but rose.

People began to be optimistic about the future of Sprint, and continued to fight with Orientals, which made Xiangjiang's shareholders see the value of Sprint.

How else would someone rob it?

This man's thinking changed, and he soon found more reasons to favor PCCW.

"I'm not as good as her!" Massashi Murakami listened to Liu Ruoyi's new offer, his face also darkened, and he sighed.

Of course, everyone here knows who she is.

PCCW's offer this time is no longer up to date here. Although SoftBank can get the high price of $30 billion, it depends on whether it is worth it.

The current premium is high enough, and if you really want to smash $30 billion into it, you really don't know when you will be able to pay it back.

What's more, the other party still has a plan to exchange shares, which is a condition that SoftBank does not have now.

So Masayoshi Murakami has come to his senses and chose to give up.

...

...

The Sprint board of directors could not wait for SoftBank's new offer, and there was an open and heated discussion on PCCW's offer, and everyone was very sharp about whether to continue to wait or close the deal according to the current terms.

The competition between SoftBank and PCCW has made the major shareholders who have been suffering from losses and whose stock prices are unable to save themselves from the bottom have long been willing to go, and now they are basically getting out of the pit at a price of double, and these shareholders who have already decided to go are of course in favor of trading.

But long-term shareholders who have been bullish on Sprint are adamantly opposed to such a hasty decision. For them, it's either a higher price or just wait.

However, this factor was already taken into account in the second PCCW bid, and when Chandler was invited to participate in the discussion, Chandler carefully explained the operation of the whole plan to shareholders, so that shareholders who wanted to hold for the long term would still have the opportunity to choose to continue to hold, but only need to carry out an equivalent share exchange.

After a long discussion and negotiation, it was finally decided to vote for a vote, after all, the company or the shareholders had the final say.

In the shareholder vote of Sprint, the majority of shareholders chose to exchange shares at partial equal value, and those who insisted on holding shares chose to exchange shares with PCCW to continue to hold Sprint indirectly.

However, as a special industry, Sprint M&A must also be approved by the relevant authorities, and then it will be a long approval time.

However, the company has passed, and from the perspective of the competitive situation, the involvement of a third party will not affect the competition in the North American telecommunications market, and Sprint, as a weak operator, will not form a monopoly trend, and should be approved.

Taking advantage of the good market sentiment, Liu Ruoyi raised the upper limit of additional issuance from $5 billion to $10 billion, and with PCCW's current market value, it is almost 25% of the additional shares.

In the announcement of the additional issuance, Liu Ruoyi announced that Cornerstone Investment will fully support the additional issuance.

Therefore, such a market-shaking financing action did not have much volatility for Xiangjiang Company, and PCCW quickly recovered its lost ground after only falling by 5 points after the announcement of the additional issuance.

It is already clear that most of the investment institutions that Liu Ruoyi is trying to protect have begun to agree with Liu Ruoyi's investment plan, and the institutions that are not resolute have already dumped their stocks and been eaten by Liu Ruoyi's receiving funds after the first round of bidding sprint.

So this round of additional issuance is not alarmed.

Even among the $10 billion, public investment institutions and small public shareholders also ate nearly $7 billion, which surprised the market, and Liu Ruoyi also felt very strange.

She was ready to take over the full amount of the funds, but she was not given a chance, and after the additional issuance, her shareholding has been withdrawn from more than 51 percent of the absolute control to more than 46 percent.

However, there is no change in the controlling stake of PCCW, Li Ershao still holds nearly 20% of the shares, and this time he also participated in the financing and additional issuance to ensure that his position as a second shareholder is not affected, and he still retains his position as a director in PCCW.

With this good start, the market's confidence in PCCW is more abundant, and from the current point of view, PCCW's cash flow after financing appears to be quite healthy, with the current M&A plan, the financing of US$10 billion plus long-term loans of US$10 billion, PCCW's M&A capital expenditure will only increase by less than HK$9 billion in the next ten years.

In this way, for PCCW, although it will affect some of its current performance, it will not fall into the quagmire of losses.

According to current development and financial estimates, PCCW's profit will be between HK$10 billion and HK$11 billion.

However, the total number of users in the world has exceeded 150 million, which is already the second largest in Asia and one of the top ten operators in the world.

As a full-fledged acquisition, PCCW will renew the Sprint brand and expand the theONE brand to the North American continent.

And then, Liu Ruoyi's eyes have begun to turn to South America, in this market with a population base of more than 300 million, Liu Ruoyi also sees an excellent opportunity, now it is in the era of transition to 3G, a few years ago in order to buy 3G licenses and huge sums of money to buy telecommunications companies are now basically in debt, and bankruptcy is only one step away.

Chandler, who made a contribution again, embarked on a trip to South America very happily with a generous red envelope for mergers and acquisitions. This time, he is targeting four major telecom operators in Brazil, and Chandler will be able to choose the best acquisition target for PCCW over the next year. Make new contributions to PCCW's globalization.

Unbeknownst to Chandler, of course, the excellent completion of the sprint had already led Liu Ruoyi to see him as an important candidate for the next president of Lehman Brothers.

If her job in Brazil satisfies Ms. Liu, Chandler would essentially step into the presidency of Lehman Brothers.

The embers that were picked up in the flames were either garbage or essence, and almost all of them were dusted in the middle. This made Lehman Brothers, who were back on the road lightly, quite relaxed.

In the past few years, relying on the cooperation between the Asian market and Yongxiang Bank, Lehman Brothers has begun to slowly recover the vitality of the five major investment banks, and even in the area of mergers and acquisitions, after continuously operating the memory and telecommunications business for several centuries, it has been in the forefront of the five major investment banks.

And the scheming Wall Street financiers have begun to establish a connection between Lehman Brothers and Liu Ruoyi, the queen of Hong Kong's finances.

Even if the shareholders behind Lehman Brothers seem to have no direct connection with Liu Ruoyi, but they can cooperate so closely with Liu Ruoyi's semiconductor and telecommunications business, who can believe that there is nothing to say in the middle? !