After two months of negotiations, LH Fund reached an agreement with Amex to acquire Hilson-Lehman for $3.7 billion. Although this is more than a deal, it still needs to be reviewed by the Federal Reserve and the Committee on Foreign Investment in the Committee before the dust can really settle.

However, mainstream public opinion in the United States does not believe that Li Xuan's ownership of Hilson-Lehman will pose any threat to the United States. On the contrary, many financial experts believe that Li Xuan has jumped into a quagmire and that the world's richest man has made a stupid decision! On the contrary, the stock price of the sports company has risen sharply for three consecutive days because of the $3.7 billion in cash.

In this case, the probability that the acquisition will be blocked by US officials is very small. At the same time, Li Xuan's cash offer of up to $1 billion to Blackstone also received a positive response from most shareholders. Peterson, Schwarzman, and Fink have all given Li Xuan an affirmative answer, and when the dust settles on the entire acquisition, they will each take up their new positions.

Combined with the $3 billion capital injection promised to the trio, as well as various additional expenses required for the entire acquisition, Li Xuan almost had to pull out $8 billion in cash in one go. In addition to the $6 billion in credit previously raised through the five major U.S. banks and the $500 million in credit provided by Jiahua Bank, there is a $1.5 billion shortfall.

The money will be raised in the name of Orient Holdings through the issuance of corporate bonds in the U.S. capital market. Oriental Holdings is the main shareholding company under Li Xuan's name, and holds the equity of a large number of high-quality enterprises such as Oriental Games, Oriental Research Institute, Oriental Semiconductor, CG Company, and Jiahua Bank on his behalf.

With the assets it currently controls, the issuance of a mere $1.5 billion bond, whether it is Moody's, Hewlett-Packard, or Standard & Poor's, will definitely give a AAA rating, and the first time it is listed, it will be coaxed by all investment institutions. This is also the first big gift that Li Xuan gave after buying Hilson-Lehman. After all, the original Lehman Brothers had the reputation of the "king of bonds" in the United States, and underwriting bonds was its best business.

And the second big gift from Li Xuan is the IPO business of Oriental Game Company. Previously, Li Xuan had promised Goldman Sachs that they would be the lead underwriter of Oriental Games' listing in the United States. But a super IPO like Oriental Games, which raises billions of dollars in one go, is unlikely to give Goldman Sachs a monopoly on the benefits. So in addition to the lead underwriter, there will be two sub-underwriters, one of which has been confirmed to be Morgan Stanley, and the other position is reserved by Li Xuan for Hilson Lehman.

Wall Street's super investment banks generally have their own best businesses, such as Goldman Sachs, which is known for its mergers and acquisitions, and Morgan for its financing. There is even a famous saying on Wall Street: If God wants to raise money, he will also look to Morgan Stanley!

It's just that the first business Li Xuan made when he found Wall Street banks was to acquire RCA. Goldman Sachs, which is known for its mergers and acquisitions, has naturally become Li Xuan's preferred partner. Goldman Sachs also took this opportunity to establish a good relationship with Li Xuan and became one of the preferred cooperative investment banks for various multinational businesses of Oriental Group.

For a high-quality enterprise like Oriental Game Company, as long as the issue price is too outrageous, the new shares will almost certainly rise sharply after listing and will not fall below the issue price. Therefore, undertaking the IPO business of this kind of company, in addition to making a lot of money on its own, placing new shares to customers is equivalent to giving money. Investment banks often use this opportunity to strengthen their relationships with core clients.

Hilson-Lehman can take advantage of the IPO of Oriental Games Company to make a good start for itself to revive its traditional investment banking business!

Whether it is the acquisition of Hilson-Lehman or the listing of Oriental Games in the United States, it is a major event in the global capital market. Therefore, the slightest clue can attract a lot of attention! And Li Xuan's status in Hong Kong is extremely special, and his every move will be carefully interpreted under a magnifying glass.

Therefore, as soon as the news that Li Xuan was ready to spend a huge amount of money to acquire Hilson-Lehman, it immediately aroused heated discussions in Hong Kong public opinion. Fortunately, there are not a few overseas acquisitions of Oriental Group in recent years, such as the original RCA company, and later Fairchild Semiconductor, MCI company, GCA company, etc., Hong Kong people have a certain immunity to the God of Wealth Lee's various largesse.

But then after the rumors of the possibility of Oriental Game Company going public in the United States came out, rumors in the market that Li Xuan was ready to invest began to spread again. Over the years, almost all of the most well-known companies under the Oriental Group have been listed overseas. He is the God of Wealth Li himself eats meat, but he doesn't even give half a mouthful of soup to others, which will naturally attract criticism.

Fortunately, Li Xuan did not leave a back hand, just when everyone was still discussing right and wrong because of the first two rumors, a powerful news suddenly spread in the capital market of Hong Kong.

The Oriental Research Institute is about to be listed, and it is listed on the Hong Kong Stock Exchange, and the financing scale may exceed 40 billion Hong Kong dollars!

What is the concept of 40 billion, CLP Power Corporation, which is 35% controlled by Li Jiacheng, currently has a total market capitalization of 33 billion Hong Kong dollars. The core asset of Li Ka-shing's own name, which is also the largest real estate group in Hong Kong, Cheung Kong Industrial, now has a market value of 40.5 billion Hong Kong dollars!

Both companies are among the blue-chip stocks in the Hang Seng Index and are already among the few large companies in the Hong Kong stock market. The only ones whose total market capitalization can stabilize them are HSBC and Jiahua Bank.

And these two superpowers, who almost control Hong Kong's financial market, seem to be nothing compared to the scale of the Oriental Research Institute. As one of the famous unicorns in the global high-tech industry, the total valuation of the Oriental Research Institute is likely to exceed 200 billion Hong Kong dollars, which is much more than the combined market value of HSBC and Jiahua.

All Hong Kong people know that if the Oriental Research Institute stays in Hong Kong and is listed, it will definitely be a fertile water that will not flow into the fields of outsiders, and Asia Sun Hung Kai Securities will be responsible for the operation. Therefore, the phone call of Asia Sun Hung Kai was immediately blown up by all Hong Kong investors, and they had to quickly issue an announcement to the public, officially confirming the news that the Oriental Research Institute will be listed in Hong Kong.

Asia Sun Hung Kai Securities was recently sold by Jiahua Group to LH Fund. Following the completion of the merger between LH Fund and Hilson-Lehman, it will also be restructured with Lehman's Asian subsidiary.

Lehman Corporation has an office in Hong Kong since 1971, and it has a longer history of operating in Asia. As early as 1905, Lehman helped Japan underwrite a government bond. Since the 60s, Lehman has taken over the underwriting of US dollar bonds from governments and institutions such as Malaysia, the Philippines and the Asian Development Bank.

Of course, the restructuring of the two companies cannot be completed overnight, so the IPO of the Oriental Research Institute will be led by Sun Hung Kai Asia and Lehman (Asia) as lead underwriters and sub-underwriters, respectively.

Among them, Asia Sun Hung Kai is responsible for the placement of new shares in Hong Kong, and the amount of new shares underwritten will reach 7% of the total number of new shares issued in the IPO. The remaining 30% of the new shares will be placed by Lehman Corporation to overseas investors.