Chapter 739 Voting Rights

……

This time, Guo Shouyun directly took out the Merrill Lynch equity certificate he owned.

"It's like it's only 41.7 percent here. ”

Morgan Sr. asked the same question as Ned Johnson. And Guo Shouyun also came up with the same answer.

"We have just acquired a 5.4% stake in Merrill Lynch held by Fidelity Funds, but the time is too short, and the warrants have not yet arrived. Guo Shouyun said calmly.

He had already made up his mind that if the Morgan family's conditions were too high, he would go and make a deal with Fidelity. Choose one of the two, there is always one for you. Therefore, he is not afraid to expose his hole cards.

Looking at his expression, the elder Morgan, despite his scheming, did not see anything in his favor for this negotiation.

"What will the Morgan family get if they trade?" After pondering for a moment, the elder Morgan did not study the matter of equity again. In his opinion, 41.7% is already a staggering number. On this basis, as long as you are willing to spend money, it is not difficult to get a controlling stake in Merrill Lynch. Therefore, whether the 5.4% stake of Fidelity Fund is really in the hands of Guo Shouyun is no longer important in the eyes of the old Morgan.

"I intend to push for the merger of Phoenix and Merrill Lynch. If Mr. Morgan is willing to help in this matter, then you can get up to 20% of the original shares of the new company. ”

Old Morgan's eyes narrowed, this temptation is really big enough! With the respective assets of Phoenix Bank and Merrill Lynch, once the two sides merge, they will inevitably surpass Citigroup and become the largest bank in the United States. And of course the world's largest bank. If they can get 20% of the bank's original shares, when it goes public, the Morgan family can get billions of dollars in returns, or even tens of billions of dollars.

Of course, the difficulties can also be particularly staggering. At least these competitors, including Citigroup, Bank of America, and ****, don't want to see a big guy climb on their heads.

"Mr. Guo's appetite is as astounding as ever. However, if you want to promote the merger of Phoenix and Merrill Lynch, you and I may not be able to succeed with the strength of you and me!"

"Of course, so I intend to repeat the story of Unocal when it was financed after the successful acquisition of Merrill Lynch. ”

Hearing this, the elder Morgan had in mind the names of the Bush family, the Roosevelt family, the Kennedy family, the Blackstone Group, and the CapitaLand Group.

If you add Morgan and Guo Shouyun's own influence, there is indeed a lot to be done to promote the merger of Phoenix and Merrill Lynch.

"You pull so many people to invest and promise at least 20% of Morgan's original shares. Why? Phoenix Bank, you don't pursue a controlling stake?"

Guo Shouyun shook his head.

"Phoenix now has about $700 billion in assets, and Merrill Lynch has $1.85 trillion in assets. If the two parties merge, according to the 2004 balance sheets of Merrill Lynch and Phoenix, the new Phoenix Merrill Lynch will have total assets of $2.55 trillion, core capital of $120 billion, total revenue of $80 billion, and net profit of $15 billion, surpassing Citigroup to become the world's largest integrated financial institution. Such a large financial institution is destined to become the private property of individuals. Otherwise, even if we all worked together, Congress would not have agreed to Merrill Lynch and Phoenix's merger proposal. ”

Old Morgan nodded appreciatively, "It's rare that you still have such a clear understanding." ”

Guo Shouyun smiled slightly, he gave up the absolute controlling stake in Phoenix Merrill Lynch, although there were factors to reduce the obstacles set by Congress, but it was more for the subprime mortgage crisis three years later.

In this kind of financial crisis, which started on Wall Street and spread to the world, even Phoenix Merrill Lynch did not lose much on subordinated bonds. But it will also cause the stock price to plummet due to the collapse of the stock market. This is determined by the general environment, and it is not Guo Shouyun who can change it personally.

So, under this systemic risk, the more Phoenix Merrill Lynch shares you hold, the greater the losses. Therefore, the best way is to hold a certain number of shares, and then get more than half of the voting rights to ensure that you control the company. Wait until the economic crisis is at its worst to enter the market and buy the bottom.

"While I wouldn't ask for absolute control, I would like to have at least 35% of the shares I control and at least 51% of the voting rights. Guo Shouyun said.

"It's not a problem for me. I'm sure others will agree. After all, your management of Phoenix in the past five years is enough to reflect your financial talent and business talent that are far beyond ordinary people. ”

"Your affirmation is the greatest compliment to me!"

Old Morgan smiled, "After the merger of the two parties, when do you plan to re-list Phoenix Merrill Lynch?"

"If the merger goes well, it will take me about a year to integrate the business internally, as well as make personnel adjustments. So the middle of next year will be the right time to go public!"

After nodding in agreement, "Since it is a merger of Merrill Lynch and Phoenix, there is no need to sell the 5.83% of Merrill Lynch's equity held by the Morgan Family Fund to you." I can write a license agreement to grant you the voting rights of this part of the shares. ”

Guo Shouyun nodded after a brief consideration. As long as he can have more than 50% of the stock voting rights, he can complete his complete control of Merrill Lynch, as for whether the specific stock is in his own hands is secondary.

Now that an agreement was reached, Morgan Sr. and Guo Shouyun soon signed a one-year equity management transfer agreement.

After the two parties signed and made this agreement truly legally valid, Guo Shouyun breathed a sigh of relief. With this 5.83% mandate, he owns 47.53% of the voting shares. As long as the acquisition of another 2.48% of Merrill Lynch's shares from the secondary market will be able to completely control the absolute controlling stake of Merrill Lynch. Victory was in his hands.

Merrill Lynch's total share capital is now $1.517 billion, and 2.48% of the shares are 37.63 million shares. Merrill Lynch's trading volume in one day is close to 20 million shares, at most three days, no more than four days, Guo Shouyun can get this part of the equity from the secondary market.

In contrast to his swiftness, Stan O'Neill's desire to buy back shares first requires the approval of the board of directors before raising funds. By the time he actually starts working, it will take at least two to three days. And during this time, Guo Shouyun has already got the equity he wants.

However, if you are not afraid of 10,000, you are afraid of what if. Whether it is the blessing of the century-old Merrill Lynch or Stan O'Neill's own connections on Wall Street, he can use external funds to compete with Guo Shouyun for Merrill Lynch's equity. In case of any white knight, Guo Shouyun's acquisition of Merrill Lynch has the possibility of failure. Although this possibility is slim, he can't help but care.

Therefore, after getting the authorization of the old Morgan, Guo Shouyun returned to the hotel non-stop. But he didn't rest, but took Wang Jue and Wu Xiaojing to check out and quietly left New York.

Of course, instead of returning to San Francisco, he came to Washington again.

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