Well.

Watching the development of things as he calculated, Tang Bao was very satisfied. He is well aware that the bidding between the two parties may not only significantly increase the cost of the acquisition, but also make the acquisition transaction lengthy and the situation unmanageable. And the easiest solution is to scrap the competitor and kick Panasonic out directly!

I'm glad to be.

Tang Bao: He did it.

The ninety-day exclusive acquisition negotiation period is enough for Tang Bao to completely take over Universal Pictures and will not leave another chance for Panasonic.

"Mr. Zelman, I have to say that you have made a most sensible decision. I also see your sincerity, and I won't let your efforts go unrewarded......" Tang Bao said with a smile.

"Hmm."

Zelman grinned, but it was a little unnatural, apparently a little resentful of being forced to agree to exclusive negotiations on the spot. But since the boards of directors of the American music companies have agreed, there is nothing to say. He can only hope that in the next acquisition negotiations, Tang Bao will not be too presumptuous because of the temporary loss of potential competitors, otherwise, he has no choice but to delay until the end of the exclusivity agreement period.

This was Zelman's biggest fear, and agreeing to exclusive negotiations was tantamount to temporarily throwing away a bargaining chip.

"Don, I think Mr. Harris has already reported to you on the valuation of Universal Pictures' assets. Universal Pictures is a great Hollywood film company, with a rich film and television library copyright resources, and the brand value is immeasurable. I hope you can give a price that is worthy of it! Zelman said. Speaking of which, Zelman also became apprehensive and expectant, his original intention in selling Universal Pictures was to raise funds for the development of the broadcast and cable businesses, and naturally hoped that the more the better.

"Of course."

Tang Bao replied with a smile.

Abolish Panasonic as a competitor to avoid a high premium in fierce competition, but he can't be "stingy" in the past, and if the price difference with Zelman's psychology is too great, it is likely to lead to the breakdown of negotiations. The end result. It may be that Zelman was forced to put on hold for 90 days to sell Universal Pictures, wait until the end of the exclusivity agreement period, and then re-throw himself into the arms of Panasonic. Tang Bao, on the other hand, will return empty-handed, and may even be hated by the other party for "playing" Zelman, triggering a grievance and hatred that the media likes to see.

So.

Tang Bao's acquisition offer must be relatively fair and reasonable, even if it cannot directly satisfy Zelman, but it cannot be angry with the other party.

"At first, Zelman's psychological price tag for Universal Pictures was five billion dollars. However, after he came into contact with Panasonic for a period of time, his appetite must have been raised a lot. I'm quoting five billion dollars at this point. It must be difficult to attract him, although this is the psychological price he set at the beginning......" Tang Bao was constantly weighing in his heart. He has an unusually sufficient amount of funds, but he will not pretend to be forced or willing to be wronged, and he will try to quote a relatively reasonable purchase price.

And then.

Tang Bao also reviewed the purchase price set by Harris, of course, Harris's proposed offer was based on the competition with Panasonic.

Harris and his team have assessed that the final transaction price could be between $6 billion and $6.5 billion under Panasonic's competition. Considering that Panasonic's domestic rival Sony has successfully won Columbia Pictures, Panasonic will not be left behind by its opponents for long-term competition in the future. The resolve to buy Universal Pictures could be greatly strengthened, when the competition will be fiercer, and the purchase price could be raised to more than $7 billion. Maybe Panasonic will ignore the price surge, but Tang Bao can't tolerate it. He had already set the cap price in advance, that is, $7.5 billion, and if it exceeded $7.5 billion, Tang Bao would not hesitate to withdraw.

Of course.

These are based on the poor bidding between him and Panasonic. Now that he has succeeded in abolishing his competitors, it is naturally impossible to quote such a high purchase price.

……

"Hmm. $5.5 billion! Mr. Zelman, my offer for Universal Pictures is $5.5 billion! I think. The price is worth it. After all consideration, Tang Bao made an offer to Zelman.

$5.5 billion!

Zelman's heart beat at an accelerated pace, this price is very close to Panasonic's latest offer, although he is very satisfied, his face is calm, without a trace of fluctuation. He knows very well that in business negotiations, one of his expressions and an undetectable move may give the negotiator a loophole and cause the negotiation to fall into passivity. Therefore, he will be very serious in key business negotiations involving core interests, and reflexively behave like an emotionless robot, so as not to let the negotiation opponent see his psychological bottom line.

Staring at Zelman's calm face, Tang Bao couldn't see the other party's thoughts clearly, and he knew that the other party was a very experienced negotiator.

He couldn't tell from Zelman's expression whether the other party was satisfied with the offer.

After Tang Bao quoted the purchase price of 5.5 billion US dollars, he didn't say much, just sat quietly opposite and waited, calm and confident.

Let's be honest.

He didn't know if Zelman was happy with the offer, but he had to show confidence in winning Universal Pictures at that price.

He is not in a hurry to open his mouth to urge, that is, he is confident that the price is enough to impress the opponent, and he is not afraid that the other party will not be satisfied...... This is the momentum that Tang Bao showed.

Well.

It can be said that Tang Bao and Zelman have been waging a silent game, and whoever shows the flaws first, the "losses" suffered are calculated in hundreds of millions of dollars.

In fact.

In this silent encounter, Zelman has already lost. After Tang Bao quoted the $5.5 billion purchase price, Zelman was silent, although he remained calm and did not give his opponent any loophole caused by the change in mood. But his silence exposes his bottom line.

In the face of the $5.5 billion offer, Zelman did not think about continuing to "ask for a sky-high price", which is equivalent to indirectly showing that he is satisfied with the price. Or rather, the price was so much more than he expected that he forgot to go to the lion's mouth......

"Well, Don, you see, Universal Pictures is one of the most valuable studios in Hollywood, and $5.5 billion doesn't match its value, let alone your identity. Don, we don't want to be the next 'Coca-Cola'......" Zelman shook his head.

Scold.

When Tang Bao heard Zelman say "I don't want to make the next Coca-Cola", he couldn't help laughing, he naturally understood the other party's potential meaning.

It is nothing more than that Universal Pictures will not be sold cheaply, and then let Tang Bao change hands at a high price in search of opportunities.

"Ha, don't worry, I don't plan to sell Universal Pictures again." Tang Bao laughed out loud, the resale of Columbia Pictures was just forced by the situation. The intricate and rotten management of Columbia films, he couldn't find a qualified replacement, so he had to throw the trouble to Sony.

Then.

Tang Bao returned to the topic and said, "Mr. Zelman, my offer is very reasonable, even far beyond your initial psychological selling price. You should be satisfied...... No one is going to pay a higher price. ”

Forehead.

Zelman's face couldn't help but darken, of course it was impossible for someone to offer a higher price, and now, they were negotiating an exclusive acquisition, and he went to negotiate the purchase price with others, wasn't that a malicious breach of contract.

"The value of every item can't be constant, and a delicious apple costs 50 cents, maybe tomorrow it will cost $1." Zelman Road.

"But this delicious apple may not be sold because of the greed of the shopkeeper until it goes bad, and it will not be sold for even 50 cents at that time." Tang Bao said with a smile.

Now.

Zelman was hell-bent on selling Universal Pictures to raise money to grow his broadcast and cable businesses. Therefore, the capital investment in Universal Pictures has been drastically reduced, and if it continues to be delayed, Universal Pictures will not be able to get sufficient capital investment, and the performance of Universal Pictures will decline sharply this year, and it will affect its ranking performance among the seven major Hollywood studios (United America was acquired by MGM in 1981). And then affect its valuation!

"Don, Universal Pictures is not an apple with a very short shelf life. Although we had long planned to sell Universal Pictures, we did not relax to maintain its value. Zelman emphasized. The $5.5 billion price tag is really not very high, and I don't think the board will be happy with it. ”

Zelman continued: "When you buy Universal Pictures, you not only get a myriad of high-quality film and television library rights resources, but you also have control over a world-renowned film and television brand. ”

"Heh, since you talked about the issue of film and television copyright resources, I have to say a few more words, it seems that many of Universal Pictures' copyrights have been resold. Copyright resources have shrunk seriously......" Tang Bao said with a smile.

It is very common for film companies to resell and share copyrights, and Tang Bao originally didn't plan to talk about it, but Zelman repeatedly showed off Universal Pictures' library resources as a bargaining chip to raise prices, so Tang Bao felt the need to hit the other party's morale.

At this point, he had to look at Harris's performance differently, and before the negotiations began, Harris found out the situation at Universal Pictures.

"This, that's just co-investment in films, rights sharing...... There are very few movie rights that are actually sold. Zelman hurriedly argued.

No way.

A large part of the value of a film company is in the copyright resources of the film library, and if the loss of the copyright resources of the film library is serious, it will greatly affect the valuation of the film company.

Tang Bao smiled and waved his hand, stopping Zelman's explanation. He basically has a general understanding of the copyright status of Universal Pictures' film library.

Then.

Tang Bao stretched out a finger, looked at Zelman, and said, "One hundred million, I'll add another hundred million dollars." Acquire Universal Pictures for $56! (To be continued......)