Chapter 894 Acquisition of US Airways
US Airways is Su Chenyu's goal this time!
As the fifth largest airline in the United States, US Airways should definitely be regarded as a big man in the US civil aviation industry, right? Although, from the perspective of the world's civil aviation industry, US Airways' influence is a little smaller, but it really has little influence, and this position is not high or low just for the next various big and small actions.
In fact, speaking of which, US Airways has developed really well in the past few years, expanding and merging several large and small airlines one after another, such as Pacific Southwest Airlines, Petermont Airlines and Trump Shuttle Airlines, etc., which have made their strength increase geometrically in one fell swoop.
However, although the series of mergers and acquisitions of US Airways seemed wonderful, and even created the largest merger and acquisition in the global civil aviation industry at the time, his steps were indeed a little too big - easy to pull the egg.
This is really not wrong at all, once the pace of expansion is too fast, if the step is too big, it is really easy to pull the egg, isn't that Boss Jia who made the car?
The expansion of US Airways also has a bit of this meaning, but people are not like Boss Jia, just talking about concepts and fooling, and people are real fixed assets there. So, soon, US Airways, which was strapped for money, found a "partner" - British Airways. I have to say that this cooperation with US Airways is really worth it, and it can't help but get the capital injection of British Airways, and it also quickly "borrowed the chicken and the egg" to expand its route range to Europe.
So, just last year, the partnership between the two sides ended, and British Airways divested from US Airways. However, the departure of British Airways has not put US Airways in a desperate situation, after all, the "borrowing of chickens and eggs" in the past few years has allowed US Airways to ease up a little.
Therefore, even if British Airways divests and leaves, US Airways is still doing well, and it has begun to slowly integrate its major routes and aviation hub resources, and it seems that it is ready to make another big stride.
Because, just last November, US Airways suddenly decided to prepare to order 400 A320 narrow-body airliners from Airbus - the world's largest single passenger aircraft order for the company's expansion in the low-cost aviation sector. Not only that, but US Airways is preparing to order 30 A330 or A340 wide-body passenger aircraft from Airbus for the replacement of the company's old passenger aircraft, thus promoting US Airways to the world in one fell swoop.
It was precisely because of such a bold act of US Airways that Su Chenyu decided to extend his claws to him.
There is no way, this guy is not only famous and powerful in the civil aviation industry, but after eating him, he can use it as the center for mergers and acquisitions, and he can completely go to the position of the world's largest airline. The most important thing is that the purchase order of US Airways passenger aircraft is too tempting, if the order for these 400 narrow-body passenger aircraft is won, then United Aircraft Manufacturing Company can open the market in an instant.
Therefore, this acquisition is absolutely imperative, and it must be a hit on the move.
Fortunately, the capital structure behind US Airways is not so complex, with most of the shares circulating on the stock market, except for a portion of the shares held by the board of directors and management. However, there is another painful thing here, and that is that although the board of directors and management do not have many shares, they have almost 100% control.
In other words, even if SS Financial Holdings eats all the outstanding shares in the secondary market, it seems that it is useless? Because, once the board of directors and management bite the bullet and do not let go, then the acquisition of SS Financial Holdings can only be used as a financial investment, and it will not be able to interfere in the management and operation of American Airlines, let alone intervene in the procurement of passenger aircraft.
Therefore, SS Financial Holdings directly issued a takeover offer to US Airways, proposing to buy US Airways at a high price of $3.5 billion.
As soon as this news came out, it instantly shocked Wall Street and the global civil aviation industry, and no one thought that this guy suddenly came to such a hand? Wasn't he still engaged in some SS Standard Aerospace Industry Group just now? Why did he suddenly get involved with the airline again?
However, it is obvious that everyone is an old driver, although the shock is very shocking, but everyone knows what is going on. Obviously, SS Financial Holdings wants to break down the barriers between the civil aviation industry and the aviation manufacturing industry, so as to create a real "aviation empire".
No matter what outsiders think or think, anyway, after receiving the acquisition offer from SS Financial Holdings, US Airways is quite tempting. After all, the purchase price of $3.5 billion is definitely not too high, and it is much higher, which is definitely in the interests of shareholders. The most important thing is that from the perspective of the development of US Airways, this deal is definitely worth it, after all, if you can invest in the arms of a "capital father" like SS Financial Holdings, you are still afraid of wool in the future?
Although US Airways has made big moves one after another in recent years, it seems that it is developing very well. In fact, this is not the case, you know, if US Airlines is really developing very well, it will definitely not make such a big move, after all, the best way to make a fortune and expand steadily is the best way.
It is precisely because the development of US Airlines is not so ideal, that it will make such a big toss! After all, only continuous tossing will there be opportunities, and there is nothing wrong with this.
Therefore, after receiving the acquisition offer, US Airways did not hold, hold, or even pretend to be very high. Soon, US Airways agreed to negotiate with SS Financial on related matters, and the willingness to negotiate was very strong.
One side is Lang Youqing, and the other side is the concubine's intention, and the next negotiations will naturally go very smoothly!
Well, although that's what I said, no matter how "Lang has affection and concubine intentions", it's useless if the "prostitution price code" is not negotiated!
Clearly, the board and management of US Airways were keen to agree to the acquisition, but were not yet very happy with the price. Moreover, they also need to consider the placement of US Airways employees, which needs to involve the issue of unions, and they are afraid that large-scale layoffs will lead to union opposition.
However, this is not a problem, it is very simple, because the purchase price can be discussed, after all, the man has a lot of money, as long as he can eat US Airways as soon as possible, it doesn't matter if he spends a little more money. As for the placement of employees in US Airways, to be honest, Su Chenyu has no idea of laying off employees, after all, he still wants to continue to grow bigger and stronger. Moreover, the affairs of the union are also quite easy to solve, hehe, you only need to solve the heads of the union, and few people can bear it in front of the dollar!
In fact, things are indeed moving in the direction of reservations, and SS Financial soon made another rather sincere offer - $3.8 billion, which is already a serious premium. However, it seems that some diehards are still not so willing, and they are still dragging their feet and unwilling to approve the acquisition plan.
Nima, this is a bit greedy, 3.8 billion dollars is not too little? I want to ask how much is too much?
If he didn't blow it up, if he hadn't been in a hurry to help the United Aircraft Building Corporation open the market for the SS-96, he wouldn't have opened it at a price of $3.5 billion. To be honest, US Airways is definitely not worth $3.5 billion, and this guy has left a lot of problems in the process of rapid expansion, and these are all "pits".
Therefore, after the offer of $3.8 billion, SS Financial Holdings, which did not respond satisfactorily, directly chose to temporarily end the acquisition negotiations - it is sometimes very effective to get away with it. Sure enough, as soon as I saw that SS Financial Holdings seemed to be retreating, US Airways was in a hurry, after all, where can you find such a beautiful thing at the price of $3.8 billion.
Therefore, not long after SS Financial Holdings suspended the acquisition negotiations, US Airways was anxious and no longer mentioned any price increases, and directly said that this price could be discussed well. There is no doubt that the group of US Airways people are in a hurry, after all, the boiled duck can't let it fly away.
However, at this time, SS Financial Holdings is not in a hurry, and now it is not a seller's market, but a buyer's market. However, Su Chenyu didn't dare to let SS Financial Holdings take it too seriously, in case this thing was played and scared people away, then he Su Dashao would really cry.
Soon, SS Financial held a second round of negotiations with US Airways, and this time the negotiations between the two sides went quite smoothly - $3.8 billion, US Airways officially agreed to the merger of SS Financial.
After getting the board of directors and management of US Airways, SS Financial Holdings quickly got rid of several "leaders" of the union and successfully passed all the processes of the acquisition.
Now that the board of directors and management of US Airways and the most difficult unions are in place, the rest of the matter is much simpler, just a formality. As a result, the SEC and Congress quickly approved SS Financial's acquisition of US Airways, and the acquisition that shocked Wall Street and the global civil aviation industry was completed almost at an unimaginable speed.
But that's just the beginning......