"The shock wave of the financial crisis has spread to the real economy since September this year, and various data show that the IT industry has also been significantly affected recently.

Intel Corp. announced yesterday that it had lowered its fourth-quarter revenue forecast by $1 billion to around $9 billion due to a marked weakening in demand across the board. Intel shares fell 6.8% on the day.

Cisco Systems recently said that the company's orders fell sharply in October, and sales will also decline in the fourth quarter.

Qualcomm also announced a significant 45% cut in its fourth-quarter profit forecast and plans to cut 1,800 jobs. The company's CEO, Paul Jacob, claims that the downturn will last a year or more.

Qualcomm's stock price is currently trading at $28.9, compared to a previous high of $56.4. ”

Listening to the latest information reported by his subordinates, Andy couldn't help but have a little headache, Nima, the financial turmoil is so serious, and Qualcomm's stock price is still so high, even if it has been halved from the highest price.

"What about Qualcomm's equity distribution?"

"Boss, Qualcomm is a company with diversified shareholdings, and the top ten shareholders are all institutional investors, with the number of shares ranging from 1.08% to 6.84%, totaling about 30%. Founder Owen Jacob owns 28 percent of the shares, the other six founders hold a combined 17 percent of the shares, and about 5 percent is scattered among the company's executives, with only 20 percent in the secondary market. ”

"Are the 9% of the acquisitions that our allies help with coming from institutional investors?" Andy tugged at the corners of his mouth, to be honest, he hated this kind of company that was too fragmented with scattered shares, especially a behemoth, and it was too troublesome and time-consuming to acquire a little bit.

And after a long time, it is easy to have various situations, and it is very bad.

"Yes, because we are still on a downward trend in Qualcomm's stock price, we are not fully engaged in the secondary market. ”

Andy nodded, looked at Alvitatre, frowned and asked, "Al, what is the result of the deduction?"

"The $35 takeover offer, Qualcomm's board of directors has a more than 90 percent chance of veiling the deal, and if it is calculated at $28 per share, the premium is 50%, about $42, which is enough to impress those institutional investors.

However, Qualcomm's founding group and executives hold a total of 50% of the shares, and if the boss wants to completely control Qualcomm, then we must get shares from the founding team, so that we can break Qualcomm's original power structure and become the largest shareholder, so as to sit firmly in the position of chairman of the board. ”

"Hehe, in this economic situation now, who will have trouble with the dollar?" Andy's seemingly relaxed smile teased a somewhat urgent heart, others don't know, but he knows better than anyone that the financial crisis will begin to improve in the second quarter of the next year, and by that time, all the general trends that Andy can borrow will dissipate, and if he wants to buy again, he will really have to use real money.

This time, three acquisitions were made at the same time, two of which also meant hostile takeovers, even if the risk was very large, which would make him heavily in debt and pressure, so that he would not be able to expand externally in the next two or three years, and could only lie down to digest silently, and he would not hesitate.

Don't say anything, it's really past this village, and there are no more shops!

Therefore, he will hoard gold and build a solid foundation with 1,260 tons of gold, so that he can be invincible and will not have the danger of an overall collapse, so that he can fight without worries.

"If we directly launch a takeover offer to shareholders and turn into a hostile takeover, how likely is it that Qualcomm will launch a "poison pill plan" to counterattack?" Andy asked calmly.

"The likelihood of Qualcomm starting the poison pill program is so unlikely that they won't even consider it.

The core of the poison pill plan is to issue a large number of new shares to dilute the proportion of shares held by the hostile taker, so as to increase the cost of capital and the final income required for the acquisition.

The other is that the management agrees to resign en masse to increase the operational risk after the acquisition.

In terms of Qualcomm's operations and governance, it would be incalculable to launch the poison pill program, and even if they ultimately block our acquisition, Qualcomm will be in huge trouble.

First of all, Qualcomm will definitely be downgraded by corporate governance evaluation agencies, which will not only lose the status of the world's top 500 companies, but also lose the favor of Wall Street in the next few years, and secondly, investors will never want to see the board of directors artificially erect an obstacle to the free flow of capital.

Therefore, even if Qualcomm refuses to be acquired, they will not choose to take this step regardless of political and legal factors, purely from the strategic, capital and business level.

For us, there are no political or legal obstacles, and the final situation may be a compromise between the boss and you as the chairman, and then the current management will continue to manage the company!"

Alvitatre didn't have too much worry about his boss launching two acquisition wars at the same time, and even admired the courage of his young boss.

It's not a dog's leg or a sycophant, but after continuous acquisitions, the think tank found that the acquisition of Qualcomm is definitely a very cost-effective business, even if the acquisition fails in the end, the boss can double the money spent on the acquisition and earn it back.

Because they chose a sniper public takeover from the beginning, and this kind of acquisition method is generally in the case of problems caused by the target company's poor management or the decline of the stock market, the acquirer and the target company have neither prior communication nor warning, but directly carry out the acquisition in the market.

Sniper takeovers are very stealthy in the initial stages, and only after they have been properly prepared do they begin to attack the target company. This approach is used against target companies where the company's shareholding is relatively dispersed or the company's share price is significantly undervalued.

And this kind of invincible sniper public acquisition needs to meet many conditions, and Qualcomm at this stage is undoubtedly the most perfect implementation target.

The reason why it is said that even if the acquisition fails, it will not lose but will make money, that is, once the acquisition fails, Andy can sell all the shares he holds and earn the stock price difference that skyrockets because of the good news of the acquisition, which is also extremely rich.

"As for whether there will be a third-party white knight who will come out to stir up the situation, hehe, boss, aren't you already ready for them?"

Al's chuckle and rhetorical question, causing Andy and everyone in the conference room to laugh at the same time, and after listening to the analysis of all aspects of his chief think tank, Andy's somewhat anxious mood was also relieved.

"Thank you for your hard work, after the completion of the acquisition, I will give you a big vacation, so that you can have a good vacation and enjoy your mansion and yacht, but before that, I hope you can help me win these three battles, thank you!"

Andy is still very familiar with the hard work of his group of core think tank members who have been working day and night to sort out data, analyze, deduce, and improve various tasks, although they are all hired for money, but they are also divided into hard work and not hard work, of course, this is also because of his generous enough generosity as a big boss.

However, Corporal Lixian also wants Corporal Lixian, good words don't cost money, but can make this group of subordinates feel better to work for him, he doesn't think that as long as he gives money, he can cultivate good subordinates, as for how loyal his subordinates are cultivated, Andy has never had the luxury of asking for it.

TALK ABOUT LOYALTY TO A GROUP OF PEOPLE WHO HAVE BEEN INSTILLED WITH THE CONCEPT OF FREEDOM AND EQUALITY SINCE CHILDHOOD?

There is no absolute loyalty in the world, it just depends on whether the price of betrayal is big enough, it is human nature, and people always make choices to maximize their own interests.

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Chapter 1317 (Page 1/1)

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