The assets that entrepreneurs are eager to divest before absorbing shareholders are often high-quality assets with great potential. With this mentality, no investor wants to see the founders divest the company's assets, even if they don't know whether the divested assets are good or bad, they are willing to be retained.

Tang Bao understood Kane's thoughts very well, and the other party's thoughts were also very correct, and the assets he was eager to divest were indeed the best parts.

Originally.

Tang Bao can directly divest the venture capital department, but in order to avoid disputes in the future, it is better to talk about everything.

"Well, Mr. Kane, my valuation of the venture capital department is ...... this number" Tang Bao calmly stretched out a slap and shook it in front of Kane.

"Five hundred million dollars?"

Looking at Tang Bao's outstretched palm, Kane said in surprise. Bear Stearns' management of all of Phoenix's assets has been rigorously evaluated, valuing the assets of the venture capital division at approximately $300 million. But considering that the venture capital department owns a 10 percent stake in East West Bank, worth $200 million, that valuation isn't too much. Well, although it is quite a bit higher than the estimated price, it is still acceptable.

Kane was about to agree generously, but found that Tang Bao's head was shaking slightly.

"Heh, Mr. Kane, do you think that if there were only a few hundred million dollars in valuation differences, I would talk about this with such a big talk?"

"What...... Don, is it five billion? Kane exclaimed.

Hear the words.

Tang Bao still shook his head slowly, five billion dollars, the value of just one Cisco company is far more than that.

"Five billion dollars! I think the assets of the venture capital department are worth $50 billion......"

Burst.

Horst, who was drinking water, couldn't help but choke and coughed there with tears in his eyes. And Kane was no better, he was directly dumbfounded, like a sculpture, looking at Tang Bao blankly.

Suddenly.

The atmosphere in the conference room became extremely strange, and Tang Bao smiled and said nothing. Kane sat stunned as if he had lost his soul, while Horst choked on the water as if he were about to die. In the same time and space, three people are in three completely different states, without interfering with each other.

……

"Uh, Don ......" A few minutes passed before Kane came back to his senses, looked at the smiling Tang Bao hesitantly, and asked bitterly, "Don." Are you sure it's 50 billion dollars? ”

"Yes, it's 50 billion dollars. Mr. Kane, you heard you right! Tang Bao smiled and gave a very clear answer.

In fact.

Even if the valuation is 50 billion US dollars, Tang Bao is unwilling in his heart, and the reason why he says 50 billion US dollars is just to scare off investors.

Today, even in the United States, there are few companies with a market value of more than $50 billion. He believes that no one will dare to accept the valuation of $50 billion.

"Don ...... Your valuation, I ......" Kane is a little delirious in the face of this valuation of up to $50 billion. He's really going crazy.

No, he thought it was Tang Bao who was crazy.

"Hehe, Mr. Kane, I'll just say that. We will have very big disagreements about the valuation of the assets of the venture capital department. Tang Bao said with a smile. I don't expect anyone to approve of my valuation, and the best solution to this irreconcilable disagreement. It is to divest this part of the disputed assets. At the beginning, I also considered the valuation of Phoenix Investment Group, which excludes the venture capital department. ”

There was a pause.

Tang Bao smiled again and said, "Of course." If Mr. Kane had agreed to the $50 billion valuation, I wouldn't have to do anything more. ”

Hear the words.

Kane suddenly cried and laughed, five tens of billions of dollars, unless he went crazy...... No, even if he went crazy, the board of directors of Bear Stearns would not have passed.

Then.

Kane has gradually regained his cool head, and he knows that there must be a reason why Tang Bao attaches so much importance to the assets of the venture capital department.

It's just that he didn't find out.

Kane realized from Tang Bao's actions that the assets of the venture capital department may have huge potential for appreciation, but he did not dare to take risks.

$50 billion, which is much higher than Bear Stearns' market capitalization!

I weighed it in my head for a while.

Kane raised his head, looked at Tang Bao, and said, "Tang, if I'm not mistaken, the equity of East West Bank held by Phoenix Investment Group not long ago is also in the venture capital department, right?" ”

"Not bad."

Tang Bao nodded and replied, East West Bank is not listed, the stock is not circulable, strictly speaking, investing in East West Bank is also a risk investment.

"I have no objection to the divestment of the venture capital department, but Bear Stearns wants to keep East West Bank's stake in Phoenix Investment Group." Kane emphasized that Phoenix Investment Group holds a 10% stake in East West Bank. From Tang Bao's previous series of actions, he can be very sure that the 10% equity of East West Bank has a very strong appreciation potential.

Meantime.

As an investment bank, Bear Stearns also hopes to expand more financing channels through equity investment. It would be in their interest to keep East West Bank's stake within the Phoenix Investment Group.

"A 10 percent stake in East West Bank for a billion dollars, and if Mr. Kane agrees, I would very much approve of your proposal." Tang Bao said with a smile.

Originally.

Phoenix Investment Group's stake in East West Bank is not only in solidarity with the bank in crisis, but also in the hope of deepening the ties between the two companies through cross-shareholding. Therefore, Tang Bao is also willing to divest the equity of East West Bank from Phoenix Investment Group.

Kane's proposal was in Tang Bao's arms.

……

Billion dollars!

Kane's face couldn't help twitching slightly, Phoenix Investment Group only spent $200 million to hold these shares, and it only took a long time for it to soar to $1 billion.

"Don. Although East West Bank has expanded through a series of mergers and acquisitions, it has a strong momentum. However, you should be aware that when the performance of bank stocks is generally sluggish, 10% of East West Bank stock is not worth this price. Kane reminded. The billion-dollar stock price really left him speechless.

"I think a billion dollars is very reasonable. If the price is lower, there is no need to spin it off. Tang Bao didn't give an inch.

Forehead.

Kane had a great headache, and Tang Bao's toughness exceeded expectations. But when you think about it, it's relieved. The process of financing and share expansion of Phoenix Investment Group. Tang Bao has always been very tough and is not affected by anyone at all. Even in the face of valuation doubts from the outside world, he has never compromised. As for the expected reduction in valuations, there is no sign of it...... This is also what prompted Kane to take the initiative to come to the door, and in the face of the temptation of Phoenix Investment Group, he really couldn't help it.

"The divestiture of the venture capital division other than the equity of East West Bank, the total value of Phoenix Investment Group is $16 billion! If Mr. Kane agrees, then I would very much welcome Bear Stearns on board. Tang Bao summed up a little and said with a smile.

“……”

Kane's brow couldn't help but furrow, 10% of East West Bank's equity. The price of a billion dollars really made him feel very entangled.

Think about it for a long time.

Kane made up his mind and said, "OK." Don, for the $16 billion valuation, Bear Stearns has no objection! In the face of the strong Tang Bao, Kane can only compromise.

Kane compromised, and Tang Bao couldn't help but smile victoriously.

"Bear Stearns will invest a billion dollars!" Kane Road.

"A billion dollars!?"

Tang Bao couldn't help but be stunned, and frowned secretly, this time Phoenix Investment Group expanded its shares for financing. Those who only plan to give up 10% of the equity will receive about $1.8 billion in funding. Bear Stearns alone wants to invest $1 billion and get a 5.6 percent stake in Phoenix Investment Group.

"Don, have a problem?" Kane was silent when he saw Tang Bao frowning. Hurriedly asked.

"Hmm...... It's a little bit of a problem. Mr. Kane, the Phoenix Investment Group's share expansion, investors who have long been determined to participate in the shares include the Phoenix Employee Fund and the Moshi Fund. In addition to these two investment funds, I hope to attract three to five investors. Summing up. That is, there are five to seven investors...... Let's share 10% of the equity of Phoenix Investment Group. Tang Bao explained.

"Bear Stearns invested one billion dollars, and one company monopolized 5.6% of the equity, but I am afraid it is not easy!" Tang Bao shook his head and said.

"Don. This time, Bells Landing took a stake. The transaction will be paid in a lump sum in all cash. We are ...... with great sincerity."

"Hmm."

Tang Bao smiled and nodded.

……

"Don, I want to know how much equity Bear Stearns can get?" After some communication, seeing that Tang Bao did not have any trace of compromise, Kane asked helplessly.

"2.8% equity, this is what I can promise, as for the rest, I still need to think about it slowly!" Tang Bao replied with a smile.

"Yes. Don, on all things being equal, I hope you can sell more of your stake to Bear Stearns. Kane looked forward to it.

The meeting was pleasant, and the two sides quickly initialled an investment agreement. Bear Stearns invests $500 million to acquire a 2.8% stake in Phoenix Investment Group!

Soon.

Well-informed people have learned that Bells Stein has taken a stake in Phoenix Investment Group, valuing you at $16 billion.

When the news came out, there was an uproar, surprise, shock, and disbelief...... Everyone thought that Phoenix Investment Group's insistence on the ultra-high valuation of $15 billion would eventually make the share expansion financing plan aborted. I never expected that there would be a shocking reversal.

……

Seeing this news, investors who were eyeing Phoenix Investment Group finally put down their arrogant heads and contacted Phoenix Investment Group one after another.

"Boss, Citibank, Wells Fargo, Rice Funds, Goldman Sachs, Barclays...... A total of nine investment institutions took the initiative to call, hoping to negotiate the matter of taking a stake in Phoenix Investment Group. Horst excitedly rushed into Tang Bao's office and reported.

Well.

Tang Bao smiled and nodded, in fact, several of them like Citibank, Wells Fargo, Goldman Sachs Group, etc., all called his mobile phone.

Apparently.

Bear Stearns' first move has made investors who are optimistic about Phoenix Investment Group anxious.

"Horst, go and arrange a time to meet with various investment institutions. Forget it today......" Tang Bao commanded, in the face of a valuation of up to $16 billion, they still do not give up, and each of them is extraordinary. But Tang Bao didn't need so many investors.

Of the nine investment institutions, only two or three will remain, and there will be no more than four at most. Most institutions are doomed to be left behind...... (To be continued......)