In the afternoon, it was more than two o'clock.

Feitner waited in the company lobby early with two executives, as they and Tang Bao agreed to meet this afternoon.

"It's 2:56...... President Feitner, are you mistaken!? Alan asked in surprise as he glanced at his watch.

"Hmph. What's the hurry, isn't it not yet three o'clock? ”。 Fettner snorted, but his constant glances betrayed him, and he wasn't as calm as he appeared.

Then.

"It's coming!" Pierce's eyes lit up and he reminded.

……

Hear the words.

Both Fettner and Alan looked out, and sure enough, they saw Tang Bao walking towards FirstWisnsin International Bank, surrounded by three big men in suits and leather shoes.

Soon.

Feitner reacted and hurried to catch up.

"Hello Don, welcome to Firs [no] [false] 3tWisnsin International Bank." Feitner warmly shook hands with Tang Bao...... Then, Tang Bao was introduced to Alan and Pierce.

"Hello, President Feitner!" Tang Bao shook each other's hands, smiled, and then shook hands with the other two. Before coming, he had done a very detailed investigation, and it was clear that Fittner, Allen, and Pierce were the three most powerful executives in FirstWisnsin International Bank, and now the three of them came out to greet him at the same time, which shows that he took this meeting very seriously. ,…,

Of course.

Tang Bao did not slack off here, and Robert, Winnieberg and Nick were all present, which was enough to save face.

"Ha, Don, you are really a punctual person, now, it is exactly three o'clock as agreed, not early or late!" After the pleasantries. Feitner laughed.

Forehead.

Tang Bao was a little stunned, but soon nodded with a smile.

Under the guidance of Feitner, Tang Bao and others came to the conference room of FirstWisnsin International Bank, where the two sides will hold talks.

Soon.

The talks began in earnest. The initial negotiations were very smooth. Both sides are willing to merge, and there are no disagreements in the general direction. Unfortunately, this perfect start did not last long, and when it came to the real substance, the pleasant negotiations were over.

"Huh? President Feitner, I don't like to hear jokes like this! The smile on Tang Bao's face gradually faded. Staring at Feitner said.

Suddenly.

The atmosphere in the conference room became a little tense.

"Uh......" Fettner was slightly stunned, he didn't expect that Tang Bao, who had always shown affinity, would turn his face so quickly, and his indifferent face even made him feel that the negotiation would end here. However, Feitner is not incompetent, and it is clearly impossible to let this happen. With a smile on his face, he said, "Don, FirstWisnsin International Bank is one of the top twenty banks in the United States. Even in the most difficult of times, the market value reached $2.5 billion. It's much stronger than the obscure East West Bank, and I think we have a 50 percent stake in the merger. This is a very reasonable proposal. ”,…,

Scold.

Tang Bao sneered in his heart. Secretly scolded Feitner for really daring to open his mouth, and he wanted to get 50% of the equity when he opened his mouth. He does not deny that FirstWisnsin International Bank is huge, however. There are also many problems. If it really breaks out, how much is it worth, who can say clearly. Moreover. How could Tang Bao agree to give 50% of East West Bank's equity to Feitner?

"President Feitner, your proposal, in my opinion, is very unreasonable." Tang Baopi shot back with a smile.

"Ugh. Don, do you think East West Bank, which has just been established for less than a year, is worth $2.5 billion? I'm afraid that East West Bank will not even reach a billion dollars. We only have 50% of the shares, which has expressed our sincerity that we hope that the cooperation between the two sides will continue. ”

Feitner emphasized.

"The market capitalization of FirstWisnsin International Bank doesn't tell the whole story, you should know that if your problems are not solved in time, they will collapse at any time. Maybe at that time, not to mention $2.5 billion, even $200 million would not be worth it...... If President Fettner had to worry about market capitalization, East West Bank would give a reasonable valuation based on the financial position of FirstWisnsin International Bank. Tang Bao said calmly. …,

"What?" Fettner was surprised. ,…,

Feitner's exaggerated expression made a slight smile rise on the corner of Tang Bao's mouth, and he repeated his attitude again: "East West Bank will not completely use the market value of FirstWisnsin International Bank as a reference for the purchase price, but will conduct a comprehensive valuation based on your company's financial problems. Of course, if President Feitner does not agree with the valuation, he can provide detailed financial information of the company, and if there is no major problem with the financial report, we will adjust the valuation in time! ”

Hear the words.

Feitner was stunned and provided East West Bank with bank financial information, how could that be......

"Don, this doesn't make sense! There is no such unreasonable demand from parties such as Bank of America, and it is fairest to calculate the transaction price based on market capitalization. ”

Looking at Feitner, who was eager to defend himself, Tang Bao smiled.

Then.

Shrugging his shoulders helplessly, he said, "Unfortunately, President Fitzner, if you can't accept this method of valuation, I'm afraid there is no need to talk about it." ”

Scold.

Are Bank of America and others willing to quote based on the market capitalization of FirstWisnsin International Bank? The devil believes it. Unless the head is kicked by a donkey!

Right now.

FirstWisnsin International Bank can maintain a market capitalization of $2.5 billion...... That's because the debt situation has not been fully exposed. If all the debt problems are spread out and the outside world knows, the collapse of the market value of $2.5 billion will be a matter of minutes. ,…,

Tang Bao understands this, and Feitner also knows that there is no reason why Bank of America and other parties should not understand......

Helpless.

Feitner wanted to continue the struggle, but seeing Tang Bao so persistent, he could only compromise helplessly and said, "Don, I want to know, what is the valuation of East West Bank?" ”

"The preliminary estimate is about $1.8 billion. Over time, of course. Maybe this estimate will change too! Tang Bao said with a smile.

"Change?"

Feitner's face was startled. He understood Tang Bao's words, the so-called change, that is, FirstWisnsin International Bank will continue to lower its valuation when more problems break out.

"Oh, President Fettner, do you think this estimate is reasonable?" Tang Bao asked.

“……”

Feitner was speechless for a moment, although East West Bank's valuation had plummeted by nearly a third from its market value, but there was still some merit.

"Don. Well, at a price of $1.8 billion, that's definitely worth more than East West Bank, and it's not too much for us to ask for a 50% stake! ”

Hear the words.

Tang Bao shook his head with a smile and said, "How much can East West Bank value, in my opinion, East West Bank is more valuable than FirstWisnsin International Bank." "The total amount he invested in East West Bank, the sum of the zeros. That's nearly two billion dollars. It would not be an exaggeration to say that East West Bank is valued at more than $2 billion. After all, East West Bank's growth value is extremely high, and it has escaped the real estate financial crisis. ,…,

Tang Bao and Feitner on the valuation of their companies. It was argued for a long time. Unable to reach a consensus, they had no choice but to suspend the negotiations and agree to hire a third party to conduct the valuation.

……

Together, they invited a valuation service firm. It didn't take a few days for the valuation report to be available. The report provides a detailed asset valuation of FirstWisnsin International Bank and East West Bank, covering hundreds of pages. Tang Bao and Fettner were too lazy to read in detail.

Both of them care about the result!

"What ......"

"Haha!"

Seeing the valuation analysis report, Tang Bao and Fittner showed two completely different expressions, Fittner was surprised, and Tang Bao laughed.

"No, there must be a mistake." Feitner shook his head in disagreement.

"Mr. Fittner, please trust in our professionalism. You haven't even read the details of the valuation report, how can you be sure that it's wrong? The boss of the valuation company said with an unhappy face. It is no wonder that the results of his work have been denied for no reason, and no one can be happy. …,

This.

The valuation firm gave FirstWissin International Bank and East West Bank two valuations, a conservative lower bound valuation and an optimistic upper bound share price, resulting in a price range. ,…,

FirstWisnsin International Bank's valuation ranges from $600 million to $1.5 billion; East West Bank, on the other hand, is valued in the range of $1.2 billion to $1.8 billion.

……

The valuation report was obtained, and the negotiations between Tang Bao and Fettner restarted again.

This time, Feitner's confidence is obviously not as strong as last time...... After reading the valuation report in detail, he couldn't find any reason to fight back.

"Whew."

Feitner took a deep breath, looked at Tang Bao, and asked, "Don, the valuation of the service company can only be used as a reference, and we agree with the valuation of East West Bank." $1.8 billion! ”

Grass.

Tang Bao couldn't help but secretly curse shamelessly, Nima's, why did you go earlier. Now that I look at the lower valuation of the valuation service company that invited me, I think of using the valuation of East West Bank.

"Yes."

I thought about it for a long time. Tang Bao smiled and nodded in agreement. He is not the only buyer who wants to buy FirstWisnsin International Bank, and if he continues to be aggressive, he may only push Feitner into a rival. A slight increase in the valuation is not unacceptable.

"But ......"

There are conditions for concessions, and Tang Bao will not back down for no reason. "Both banks are valued at $1.8 billion, but East West Bank will not take a full stock swap approach. Instead, it was traded in stock and cash, and in the end, East West Bank would swap out up to 20% of the equity! ”,…,

"No problem. Not all shareholders will insist on swapping shares, and some will want to get cash! Feitner readily agreed.

The main issues have been negotiated.

Next.

The negotiations between Tang Bao and Fettner proceeded rapidly, and although there were occasional disagreements, there were no more difficult differences to be resolved.

The negotiations continued until just over 11 p.m. Both Tang Bao and Feitner were very satisfied with the outcome of the negotiations...... (To be continued......).

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