Galaxy Capital's White Tiger Fund publicly acquired SanDisk's shares in the secondary market, KKR contacted Hynix, Silver Lake Capital communicated with Qimonda, and the three parties jointly approached Elpida to put pressure on Micron. The big move of the three companies did not make the US regulators intervene to stop it, but rather encouraged it. The market is so pessimistic, and there are people who are buying against the trend, which has to be said to give the market, especially the semiconductor market, a lot of encouragement.

SanDisk's stock price rose by five percent in response, D, Lao Tzu also wants to take advantage of it, and Zhou Shicai will not deliberately raise the price for the sake of acquisition.

Micron's side is very complicated, Micron CEO Appleton is actually very interested in Zhou Shi's expansion of the scale of losses in the storage industry and suppression of competitors, and he is not the only one who is also interested. Zhou Shi, who was very disappointed, saw the information given to him by several assistants, and then he knew that Micron had a precedent of price manipulation, and it was also notorious. Seeing such a crazy plan this time, he actually behaved more positively than Zhou Shi. It turned out that they didn't believe in Galaxy Capital's ability at first, so they had no desire to negotiate, but this time with KKR's endorsement, their confidence suddenly increased.

Appleton signed a contract with KKR and confirmed that it would increase investment. He actually took the initiative to contact each shareholder and communicate one by one. To cooperate or not to cooperate, it is quickly screened out. Some are willing to be acquired, some are reluctant to be acquired, some agree to expand investment, and some are against this. If it weren't for Appleton's assistance, I don't know how long it would have been.

Fortunately, the world is not very good, although Xuanwu Fund and White Tiger Fund are buying Micron's shares, but under the condition of deliberately maintaining the rhythm, Micron's stock price is still falling. After SanDisk rose for a day or two, the stock price continued to fall, and if you want to speculate, you have to see if you have that strength.

Seeing Micron cooperate so well, Glenn Hutchins and others returned to Silicon Valley. Several people get together for a meeting and brag and chat.

"Qimonda may be going bankrupt!" Glenn Hutchins began.

"Bankrupt! How big is their market share?" Zhou Shi was not too surprised

"About ten percent!" said Glenn Hutchins

"It's a lot, it seems that we have to speed up the pace of negotiations," Zhou Shi said after thinking about it for a while

"Yes, after the bankruptcy of Qimonda, it was more difficult for us to acquire," KKR people said

Several people in the room were holding coffee, pretending to drink leisurely, in this case, Zhou Shi also did the same, at this time, he was far less enthusiastic about this matter, after all, the more people involved, the less rights and interests he gets. And the less help it will be for China, even if it doesn't succeed this time, the White Tiger Fund can become a shareholder of Micron through open market operations, and then join the board of directors.

"Let's raise the offer!" finally Glenn Hutchins began.

"I agree in principle!" Zhou Shi did not object.

"We agree," KKR agreed.

Originally, the price of this acquisition could be controlled at 4 billion US dollars, but this time the price was raised voluntarily, and if you want to reach an agreement in the shortest possible time, you will definitely have to bleed. There is also knowledge of how to bid, and raising the price a lot in one go will make the original shareholders have more expectations. If the price is raised too little, shareholders will continue to hesitate. Zhou Shi's acquisition of Spreadtrum Communications directly smashed them with the price, and he successfully won Spreadtrum. If it is given to a giant like KKR, it should not be able to reach this price. But Zhou Shi didn't have many regrets, after all, time is running out!

While Zhou Shi was worried about the acquisition of Micron, Tianhe Securities America's acquisition of Saab was unusually smooth. Initially offering $800 million and negotiating, Tianhe Securities launched an investigation into Saab. It was found that the three companies of Saab, Hummer and Saturn could face losses of more than $1.1 billion, of which Saab could lose $450 million.

Faced with this situation, Tianhe Securities certainly did not hesitate to bargain, and finally reached an agreement on a wholly-owned acquisition of 500 million US dollars. Only when the U.S. and Swedish governments agree to the acquisition will the $500 million be received immediately. In addition, there are a series of patent licensing agreements, such as the Lion Motors established by the White Tiger Fund for the acquisition of Saab and GM Global Technology Operating Company, referred to as GTO (GTO is a subsidiary of GM, which owns all GM platforms and intellectual property rights in the manufacturing process, and all external technology licensing is made by the GTO) to reach the "Automotive Technology Licensing Agreement" : The GTO authorizes Saab, a subsidiary of Lion, to exercise the non-exclusive right to use Saab 9-3, 9-4 and 9-7x throughout the world necessary for the manufacture and service of Saab, and Saab does not need to pay royalties if the right is not transferable. It is important to know that among Saab's existing models, the 9-3 was developed on the General Motors Epsilon platform from 2002, and the property rights belong to GM. The Saab 9-7X is a sport utility vehicle developed on GM's GMT360 automotive platform and produced since 2005 under the same ownership rights as GM. Without these authorizations, Saab would have struggled to survive. Originally, GM also wanted to make the details of the contract more in line with GM's interests, but the temptation that the acquisition funds of the White Tiger Fund or Lion Motors could arrive at any time made them ignore many risks. Except for one article, when the White Tiger Fund or Lion Motors re-sells Saab, all preferential policies and measures need to be agreed by GM. It can be said that GM has given Saab a lot of autonomy, and even the development of Saab's subsequent models can also be supported by GM.

GM's power in the United States is unimaginable for an upstart like Zhou Shi, GM's CEO's ability to act far exceeds that of Bezos and his ilk now, before the end of 2008, the White Tiger Fund completed all the procedures for the acquisition of Saab, Zhou Shi did not go to curry favor with the union, did not make any commitments to Saab's employees and management, and completed the acquisition directly. Sure enough, poverty limited Zhou Shi's imagination, and it turned out that the union was not so strong in the face of a giant who was about to die.

With the joint efforts of many parties, the acquisition of Micron finally reached a final agreement. A tripartite consortium of Galaxy Capital, Silver Lake Capital, and KKR acquired Micron Technology for $4.5 billion, and Micron was delisted from Nasdaq.

Although it is said to be 4.5 billion, the actual expenditure is only 2.025 billion US dollars. The three parties acquired only 45 percent of Micron's shares. The remaining shareholders who hold 55 percent of Micron's shares are willing to continue to hold and implement plans to expand the industry's losses.

There are two parts of Micron's shares actually held by Galaxy Capital, one part is held by the shell company of the three parties, with 18 percent, and the other part is directly held by Galaxy Capital, of which Xuanwu Fund holds about 4.9 percent and White Tiger Fund holds 3.1 percent. In addition, Micron also issued $1 billion in convertible bonds and preferred shares to China Investment Corporation with an annual interest rate of about 10%. Micron, which is strong and strong, has started a new journey, and the pattern of the world's memory industry has changed!

(End of chapter)