Chicago, Motorola Mobile Headquarters Conference Room.

The final bids have been received, and members of the Motorola Mobility board of directors are debating who the winner is.

In the eyes of the average person, Google has undoubtedly won, offering $53.76 per share for a total price of $16.8 billion, while Century Summit is offering $53.44 per share for a total price of $16.7 billion. But things are not as simple as they seem, Google's acquisition is in the form of stock and cash, and the acquisition of Century Summit is an all-cash transaction.

The value of the stock is volatile, and the industry is very unoptimistic about Google's acquisition, once Google acquires Motorola, the stock price may fall sharply, so it is not cost-effective to take Google's stock.

This is not a guess, since the news that Google was buying Motorola, Google's stock price has fallen by 2.2%, while Nokia's stock price has risen by 17.35%, and BlackBerry's stock price has also risen by 10%. Because after Google acquired Motorola, it has its own mobile phone brand, and for Android supporters such as Samsung, they are worried that Google will get stuck in their necks, so they may seek alternatives and switch to other mobile phone platforms. And once Samsung and they switch to other platforms, Google's stock price will inevitably plummet.

For Motorola's board of directors, Google's offer is higher, but the uncertainty of the stock is greater, the Century Summit offers a slightly lower offer, but the whole deal is more reliable because of the all-cash transaction, and Google and Motorola have their own advantages, and it is a question that needs to be carefully considered who to choose and who not to choose.

Sanjay Jia looked at the members of the board of directors and said in a deep voice: "The two offers are so close, I don't think many people have encountered such close offers, they are so close, I don't know who to choose! Gentlemen, what is your choice? Is it Google, or is it the peak of the century?"

Los Angeles, Office of the Century Summit Acquisition Team.

After submitting the final offer, the Century Summit acquisition team has been waiting in the conference room for news. However, as night fell, Zhang Ran became more and more uneasy, and kept walking around the conference room. It's already half past eight in the evening, so why hasn't the phone ringed? Supposedly, the results of the bidding should have come out a long time ago! Could it be that we lost the bidding this time?

Wu Ruide wiped the eraser on the desk, leaving a pile of erasers on the floor; Mike Wyatt would go out to smoke a cigarette every few minutes, and now a box of cigarettes had been smoked; Yu Liping took a pen and scribbled on the paper, and the ink of the pen was all over, and the rest of the acquisition team was also anxious and restless.

No news is the worst news for a takeover bid.

Because after all bidders have made bids, sellers tend to only notify the winning bidder and not tell other companies. This is due to the fact that the seller will then negotiate with the winning bidder, and the negotiations are still risky and may break down at any time due to the failure to negotiate certain terms. If the buyer breaks down the negotiation with the winning company, he will contact a spare tire and tell the other party, hey, do you want to take over?

When the time pointed to nine o'clock, Zhang Ran's mobile phone suddenly rang, he glanced at the number, his hand trembled slightly, it was the phone number of Motorola Mobility CEO Sanjay Jia.

Zhang Ran's heartbeat accelerated instantly, and he finally waited for the call! He quickly answered the phone: "Hello, I'm Zhang Ran!"

Sanjay Jia didn't sell it, and said directly: "Mr. Zhang, the results are out, congratulations on winning the right of first refusal, and then Motorola will negotiate with you on the specific terms of the acquisition!"

The stone in Zhang Ran's heart fell to the ground in an instant, we won, we won Motorola! A smile of victory bloomed on his face: "It's really good!" He saw that the entire acquisition team was staring at himself with wide eyes, staring at him nervously, he raised his fist with his left hand and waved it vigorously at everyone.

Wu Ruide suddenly raised his hands and shouted "yes" hysterically. The other members of the acquisition team also stood up and applauded and cheered, and the whole scene became a sea of joy.

Sanjay Jia on the other end of the phone smiled and said, "The board hopes to be able to negotiate with you as soon as possible." ”

"Yes, that's what we expect. Zhang Ran smiled and asked, "Now that the bidding for the acquisition is over, can you tell me Google's final offer?"

Sanjay Jad: "Google's offer is $53.76 per share, for a total price of $16.8 billion. ”

Of course, he also knew that the bid for the acquisition was not necessarily won by the highest bidder, because the seller would often consider all aspects of the conditions. He couldn't help but ask: "Google's offer is higher than ours, why would Motorola choose us?"

Sanjay explained with a smile: "Based on two points, first, your acquisition is all-cash, and Google is stock-plus-cash, which is more reliable in the eyes of everyone, and second, although the board of directors agreed to sell Motorola, many of the board members have held shares for many years and have feelings for the company." Motorola is a great company, and we all really hope it will be restored to its former glory. People believe you can do it, just as you did when you reinvented Blockbuster. Google can't, Google bought Motorola for the patent, like you said, when the patent is in hand, they will most likely spin off Motorola and sell it. Without patents, Motorola would have lost its value as an independent company. Now that the management has put Motorola in your hands, you just want to see the day when Motorola is reborn!"

Zhang Ran didn't know if Sanjay Jia supported Century Summit on the board of directors, but at this time, he was still very glad that he talked to Sanjay Jia before the acquisition, and told the other party the advantages of Century Peak and his own thoughts. In fact, Zhang Ran is also playing the idea of Motorola's patent, but he will give Motorola a few years, and he will not sell the mobile phone business until he is sure that he cannot change Motorola's genes. He said sincerely: "Thank you for your trust in the peak of the century, the culture of the peak of the century and Motorola is very different, whether it can be integrated together I really dare not pack a ticket, but we will do our best!"

After Zhang Ran hung up the phone, Wu Ruide came over and gave Zhang Ran a bear hug, patted him on the back hard, and said excitedly: "We have succeeded, we have got the key to the future!"

The Internet is the future of movies, and the mobile Internet is the trend of the times. Now the peak of the century has defeated all competitors, obtained 17,000 patents from Motorola, obtained the right to speak in the field of mobile Internet, and got the key to the future.

Zhang Ran smiled sincerely: "Yes, Lao Wu!

However, obtaining the right of first refusal is only for both parties to agree on the transaction price, and there is still a distance before the transaction, and the subsequent negotiations are often more thrilling, which requires not only the acquisition team's deep understanding of financial and legal knowledge and the target, but also the ability to identify and manage the emotions of themselves and the other party. So, after a brief celebration, the acquisition team sat back down at the table to discuss the strategy for the next negotiations.

Seeing that everyone was still in the joy of winning the right of first refusal, Zhang Ran decided to pour some cold water on everyone to calm everyone down: "In fact, in this bidding, we fell into the trap of Goldman Sachs. Joel Zawi knew that after getting the $16 billion price limit from Google's board, he would suspect that it was a ploy on their part. In this way, we will deduce that their offer should be around 16.4 billion. Then, based on the offer of $16.4 billion, we will give an offer of around 166. And that's exactly what Goldman Sachs wanted. They made an offer of $53.76 per share based on $16.6 billion for a total price of $16.8 billion!"

The entire acquisition team was shocked: "What? Google's offer is $100 million higher than ours!"

"Oh my God, this offer is so dangerous, we almost lost!"

"Our offer was lower than Google's, and we still won, which is a miracle!"

Mike Wyatt's face turned pale, although he won this acquisition of the Century Peak, but fell into the trap of the other party, as an acquisition expert, he undoubtedly lost to Joel Zawi, and couldn't help asking: "Motorola chose us because our trading method is all-cash, right?"

Zhang Ran nodded and said: "Goldman Sachs' plan is perfect, but they ignore two points, first, our transaction is all-cash, and second, the management's feelings for Motorola." Google doesn't really want Motorola, all they want is Motorola's patents. After they buy Motorola, they will probably leave the patent and then spin off Motorola and sell it, which is not what the management wants to see, and we really want to run the Motorola brand, so Motorola chose us!"

Wu Ruide exhaled softly: "No matter what the process is, the most important thing is that we won and got the right of first refusal!"

Zhang Ran looked at everyone and said with a smile: "Yes, we got the right of first refusal, but we only got the right to negotiate, and it is unknown what the result of the negotiation will be, whether we can reach an agreement, and whether the government can approve it after reaching the acquisition agreement." Now is far from the time to celebrate the victory, and we must be careful in the next negotiations until we take Motorola once and for all!"

On February 25, Motorola Mobility announced that Century Summit became the preferred bidder for the acquisition of Motorola Mobility. Motorola Mobility said it would negotiate more details of the acquisition with Century Summit, and the success of the acquisition is still inconclusive.

Sanjay Jia, CEO of Motorola Mobility, said in an interview with the media: "The most important thing in the next negotiations between Motorola and Century Summit is to ensure that the outcome of this acquisition is in the best interests of all bidders, and at the same time, to ensure that Motorola can obtain sufficient funds for future development. Motorola is a great company, and we hope it will be able to rise again, and we believe that Summit of the Century is well positioned to become a strong leader in Motorola and further expand the business while maintaining Motorola's core values and independence. We don't have a definite timeline for when this acquisition of Motorola will come to an end. ”

Almost at the same time, Century Summit issued an announcement on its official website, announcing that it had won Motorola's right of first refusal, in which Century Summit said that it would negotiate with Motorola on the details of the acquisition, and also said that the acquisition deal was supported by funds from financial institutions such as China Investment Corporation, China Development Bank, and Swiss Bank, who provided low-interest loans for the acquisition.

Although the global media knows that Century Summit is working hard to acquire Motorola, and Century Summit has made many successful acquisitions, because the opponents of this bid are Microsoft and Google, and there may even be potential opponents who have not yet exploded, these companies are above Century Summit in terms of cash and strength, and almost no media believes that Century Summit can win the bid.

After this news came out, almost all the media were dumbfounded, and the first priority bid of Motorola by Century Summit quickly made headlines in major media and caused heated discussions around the world.