Chapter 154: Crazy Acquisition
The U.S. government has been unmoved, repeatedly stating that the U.S. banking sector is healthy and that there is no need for government intervention...... Affected by this news, bank stocks continue to fall!
Syllable. ``.
Fittner, the president of the International Bank of FirstWissin, angrily slapped the table, scratched the papers on the desk, and scattered them all over the floor.
"Tell me to go down and call an emergency meeting!" After venting, Feitner calmed down and commanded the secretary who was standing not far away.
The meeting lasted several hours and lasted until the evening.
The directors and executives of the firstwissin international bank were all absent and urgently discussing something, and Fettner was the first to jump out and call for a bailout from the government, not because he was philanthropic and could not bear the small banks to fall one by one, but because they themselves had the same problem.
……
East West Bank, outside headquarters.
"Huh? That's Cardwell ......" Leo, a reporter crouching nearby, looked at the man walking by, and immediately recognized his identity.
Ha.
Leo was overjoyed, and there was news material again. Since he successfully interviewed Tang Bao, he knew that East West Bank would make big moves, so he asked the newspaper to keep an eye on East West Bank. Sure enough, as he expected, a few days of squatting will be fruitful.
Sou.
Recognizing the identity of the person, Leo picked up the equipment and rushed over with lightning speed, directly in front of the visitor.
"Hello, Mr. Cardwell, my reporter from the Los Angeles Times, may I ask you a few questions?" Leo gasped.
"Huh?"
Cadwell was taken aback when he was suddenly stopped at the door of East West Bank, and when he heard that the other party was a reporter, he immediately frowned.
If it were a different time and place. Cardwell was more than happy to be interviewed to help him promote his bank. Expand your visibility. But. Now that things are going on in the bank, it's very bad, does he have the face to be interviewed and let his peers and the public laugh at his imbecility?
"Sorry, now I have something important to do and can't be interviewed by you!" Cardwell bypassed Leo's side and declined to be interviewed.
But.
If he can easily avoid the other party's tracking, then Leo is not a successful reporter.
Cardwell took a detour to leave. Leo didn't give up and hurried after him, asking, "Mr. Cardwell." It is said that the California MEC Community Bank has been negotiating with East West Bank for a long time, may I ask, does your presence at East West Bank's headquarters mean that the negotiations have been completed? ”
“……”
Cardwell was a little upset, he really didn't want to talk about these things, so he didn't respond in any way, and kept his head down. When going up the stairs, step over three steps in a row. Rushing into the headquarters of East West Bank in spite of his image, hoping to get rid of Leo's entanglement.
"Sorry, it's inside the company, you can't get in." Cardwell walked in quickly. Leo, who came with him, was stopped.
Forehead.
Leo was stunned for a moment, his heart moved, and he hurriedly said, "I'm sorry." I'm an assistant to President Cardwell and I'm with him. ”
The security guard at the gate took a closer look at Leo, and it always felt a little familiar.
"Oops. Our president is almost gone, brother, let me go quickly. Leo said as he watched Cardwell's figure fade away.
"Wait a minute."
The security guard at the door said politely, then quickly walked to the front desk of the hall, whispered a few words to a person, and then quickly returned.
"Is it okay?" Leo Tract.
"Heh, I don't care who you are, leave quickly. Otherwise, don't blame you for being polite and throwing you straight out! The security guard at the door flashed the muscles of his arms and sneered.
"Huh?"
Leo was stunned.
"Hmph, I still want to sneak into East West Bank, I checked, President Cardwell's appointment, there was no secretary, only himself."
Hear the words.
Leo couldn't help but smile, he didn't expect the security guard to be so shrewd. I had no choice but to wave my hand and take out my press card to show that I had no malicious intent. Then he fell back and sat outside by the steps and waited. It's impossible to give up, Cardwell will come out sooner or later, and he still has a chance.
……
"Hello, Mr. Cardwell." Tang Bao stood up at the right time, walked around the desk, smiled and stretched out his hand, shook hands with the other party, and then beckoned the other party to take a seat.
"Don, hello. I've heard for a long time that you've been hailed as a prodigy on Wall Street, and it's a pleasure to meet you! "Cardwell doesn't seem to be affected by Leo's harassment.
"Hehe......"
Tang Bao just smiled, without modestly denying it, in fact, according to his record on Wall Street, it is not an exaggeration to be called a "prodigy".
"Don. We have considered it and are ready to accept the offer from East West Bank. After exchanging pleasantries, Cardwell cut to the chase.
"Ha, good. I'm also very happy that Mr. Cardwell was able to agree to our acquisition, which is a wise decision, you know, the financial market environment is not good right now. "Cadwell's intention, Tang Bao had already anticipated, so it was not very unexpected.
The negotiations for East West Bank's acquisition of the California MEC Community Bank lasted for more than half a month, and the agreement was basically drawn up, and only the contract was signed. It's just that for some reason it has been dragging its feet and not signing the contract.
The biggest reason is that Cardwell expects a market shift, or a U.S. government bailout, so he has not been very happy to be acquired.
Now.
All hope is dashed, and there is a natural need to return to the harsh reality. It makes sense to accept the acquisition of East West Bank.
"Hoo ......"
Taking a deep breath, Cardwell pulled out the prepared agreement from his briefcase and spread it out on the table, his pen in his hand, trembling slightly. As long as he gently signs his name on the contract, it means that the California MEC Community Bank, which he has painstakingly operated for nearly 30 years, will completely disappear into history. Maybe in a few years, no one will remember the existence of the California MEC Community Bank.
Come to think of it.
Cardwell's heart was in pain, and the California MEC Community Bank was the brainchild of his family, and his grandfather, father, and him had fought for it for three generations.
"Don, before signing, I want you to agree to one condition." Cardwell was a little lonely. Straightened up slightly and looked directly at Tang Baodao.
"Tell me about it."
Tang Bao said with a light smile, the market is so unpredictable, maybe today you are still beautiful, with thousands of pockets, and tomorrow you will become nothing. Cardwell's experience was miserable, but it was not worth pity, because people like him were everywhere, and Tang Bao couldn't sympathize.
"Actually, I talked to Robert about it at the beginning, but. He refused. Today, I still want to put forward this condition, and I hope you will seriously consider it. ”
"The California MEC Community Bank may be small, but it has a long history, having been established since 1895. In California, it is considered an established bank, especially in cities such as Los Angeles and San Diego in California, and has a strong brand advantage...... It's a shame to just disappear. I hope East West Bank after the acquisition of the California MEC Community Bank. I can keep this brand. Cardwell finished, his eyes shining expectantly. The California MEC Community Bank was the culmination of three generations of the Cardwell family, and he couldn't afford to see it die. That's one of the reasons Cardwell was reluctant to sign a contract.
Ay.
Tang Bao sighed slightly, and Cardwell had just said a few words. He knew what the other party was intent. At this time, I couldn't help but feel emotional.
He has initiated a lot of acquisition negotiations, and almost every time he negotiates, he will hear this request from the acquiree. Keep the brand. American Southern Corporation, Redwood Community Bank...... Now, Cardwell of the MEC Community Bank in California is asking for that condition again.
And think about the later generations of domestic companies, those companies that were acquired by foreign capital. Who cares about that, they only have dollars in their eyes.
Comparison between the two.
I have to sigh with emotion!
Don, the California MEC Community Bank's savings operations in Los Angeles and San Diego account for more than one-third of the market. Its brand advantage is very strong, and retaining this nearly 100-year-old banking brand can enhance East West Bank's brand heritage. Seeing that Tang Bao fell into silence, Cardwell's mood couldn't help but tighten, and he hurriedly continued to fight. Even if he sells the bank, he doesn't want the California MEC community bank brand to be buried.
"Caldwell, you're saying that the California MEC Community Bank's savings business in Los Angeles and San Diego accounts for one-third of the market?" Tang Bao asked with some surprise, there are almost all banks in the United States, walking on the street, you may be able to see several banks at a glance. In this fierce competitive situation, the market is very fragmented, accounting for one-third of the market, which is simply terrifying.
It's just two cities, but if it's true, it also shows that the California MEC Community Bank has a competitive advantage in at least two cities, Los Angeles and San Diego.
"Yes. The California MEC Community Bank holds 41.76 percent of Los Angeles' savings and San Diego's 39.35 percent share. No bank has a market share of more than 10% except for us. Many of our customers have been customers for decades......" Cardwell saw that Tang Bao seemed to be moved, and began to excitedly introduce the situation of the California MEC Community Bank.
……
"Well, the California MEC Community Bank still retains its independent brand after being acquired." After listening to Cardwell's introduction, Tang Bao made a decision.
"Also, I hope Mr. Cardwell, you can continue to lead the development of the California MEC Community Bank."
"Ah......h
Cardwell was surprised.
"Huh. That's my condition. Tang Bao smiled and counted, and during the conversation, he found that Cardwell knew all the business of the MEC Community Bank in California, and even remembered all kinds of data. It can be seen that he is very attentive and has a deep affection for the California MEC Community Bank. Aside from him, Tang Bao couldn't find a more suitable senior executive at East West Bank to manage the California MEC Community Bank.
"Very happily."
Cardwell is thrilled to say that he is thrilled to continue working at the MEC Community Bank in California.
"Hmm."
Tang Bao smiled.
Then.
Tang Bao and Cardwell signed the agreement, and after signing it, they exchanged signatures with each other. This moment marks the official integration of the California MEC Community Bank into East West Bank. However, it was licensed by Tang Bao to continue to operate the original brand without integrating with East West Bank.
"Cardwell, welcome to East West Bank!" Tang Bao held Cardwell's hand and said with a smile.
"Boss."
Cardwell also said excitedly. Today's ending is much better than he thought, the brand of the California MEC Community Bank is preserved, and he can also stay and continue the unfinished work plan.
……
"Hello, Mr. Cardwell, I just want to ask a few questions...... It won't delay you much. Leo, who was sitting on the steps, saw Cardwell come out, and hurriedly stood up and said.
"As of today, East West Bank officially controls the California MEC Community Bank, but retains the original bank brand and operates independently."
Cardwell was in a good mood and smiled at Leo. After saying that, he left directly.
Forehead.
Leo was stunned for a moment, he didn't expect Cardwell's attitude to become so big, and he revealed the key points to him without waiting for him to ask.
After the acquisition of the California MEC Community Bank. East West Bank hasn't stopped...... The news of the acquisition came out one after another.
Time.
East West Bank's frenzied acquisitions have swept through the U.S. states, and it has been seen everywhere, and the acquisitions are constantly moving. (To be continued......)