Back in the lounge, Gao Jun called Serena and gave a brief introduction to the negotiations.

Of course, Mr. Gao did not say what the bidding would do, because in Belgium the mobile phone he used must have been closely monitored.

In fact, Gao Jun was targeted after coming to Belgium.

Because before coming to Belgium, D&F had already reached an agreement on the acquisition of FN company, Wang Dong put Gao Jun in full responsibility, and the key details had been determined, so there was no need to mention it on the phone, and calling Serena was just a show.

Don't forget, Jun Gao is only the marketing and investment manager of D&F.

In addition, he is representing BAE Systems.

Even if it is arranged in advance, and it involves a multibillion-dollar transaction, it is definitely necessary to report and ask the president for instructions, or at least let the president know about the situation.

If Gao Jun hadn't made this call, the outside world would soon know that the owner of D&F was not Serena.

In fact, Gao Jun is fully sure of the acquisition of FN company.

Before that, he spent a lot of time doing his homework and knew the two main competitors inside and out, taking into account the various circumstances.

The early exit of GIAT Group did not surprise Gao Jun.

Quite simply, the GIAT Group's main heavy equipment, including main battle tanks, armored combat vehicles, large-caliber artillery and anti-aircraft missiles, has little capital in light weapons such as firearms, and GIAT does not have so many resources to develop the light weapons market.

You know, even the French army is ready to purchase rifles from H&K to replace FAMAS.

The key is still financial resources.

In recent years, the development trend of GIAT Group's main business has been very bad, and the sales of several key products have not met expectations.

In terms of main battle tanks, the "Leclerc", which was given high hopes, only received orders from the United Arab Emirates in addition to being adopted by the French Army because of its ridiculously high price, and on the battlefield in Yemen, this tank, which is much more expensive than the M1A2, did not show its combat effectiveness comparable to the price.

Due to the successive difficulties in overseas markets, the GIAT Group closed the production line of the "Leclerc" ten years ago.

As for another tank, the AMX-30, it has long been discontinued, and none of the countries that prepared the AMX-30 have spent money on the idea of improving it.

Comparatively speaking, the GIAT Group's truck guns are more popular in the market, but the competition is also more fierce.

Now, GIAT's main business is actually a subsystem, not a combat platform.

Obviously, the main competitor of the GIAT Group is BAE Systems, which is also focused on subsystems.

As for the operating conditions, it is far less than BAE Systems.

Quite simply, BAE Systems has long entered the world's largest arms market, the American market, and has been fully affirmed by the US military.

The GIAT group is a typical French military industry, and the US military is not cold at all.

Not to mention, the GIAT Group insists on using the metric standard, while the U.S. military has always used the imperial standard, which alone makes it difficult for GIAT's products to be recognized by the U.S. military.

Obviously, with the current state of operation of the GIAT Group, it is simply impossible to spend billions of dollars to buy FN company.

In addition, the acquisition of FN will not help improve the current situation of the GIAT Group, but will become a burden to the GIAT Group.

The rest is only the German group holding.

It must be admitted that the strength of the German group holding company is very strong, and the funds are also abundant, and the comprehensive strength is far above the GIAT group.

Strictly speaking, the German group holding even surpassed BAE Systems.

It's just that the German group holding company is not an arms company, but an investment financial enterprise, so there is no comparison with BAE Systems.

Actually, this is also the key.

The German group holding company has money, but it never trades at a loss.

In the past few decades, the German company has not done anything to lose money and make money, and every investment has paid off handsomely.

So, is it profitable to buy FN?

At what price, exactly, will the German group holding company get the necessary return from the acquisition of FN company?

For Wang Dong, this is a very complicated issue.

It's just that for Gao Jun, this problem is not complicated at all.

Strictly speaking, it is difficult for the German group holding company to get a return from the acquisition of FN companies.

Crucially, the Wallen district government has made it clear that whoever buys FN must ensure that there will be no large-scale layoffs for five years.

Specifically, a maximum of five percent of the local workforce can be cut within five years.

Achieving profitability while maintaining FN's current size would be almost impossible for the German group holding company, which already owns H&K, or at the expense of H&K's market to feed its employees who pay taxes to the Belgian government.

Is it possible?

It is important to know that the support provided by the German authorities is crucial for the German group holding company to become bigger.

Not to mention that it is a loss-making business for the benefit of Germany and to create tax revenue for the Belgian government, even if it can make money, the German authorities will not agree.

Of course, FN is not without oil and water.

Not to mention anything else, just tens of thousands of patented technologies related to firearms and ammunition are a golden mountain!

Taken together, the German group holding company has the willingness and ability to acquire FN company, but the price offered will certainly not exceed the actual value of FN company.

According to Gao Jun's estimates, FN's market value is now between 10 billion and 12 billion euros.

Because this includes brand value, the actual value will be slightly lower, after all, the German group holding company does not necessarily need the FN brand.

Using this as a benchmark, Gao Jun speculated that the German holding group would bid up to 6 billion euros.

Of course, this is only a rough assessment, after all, intangible assets such as patents are difficult to measure in a single number, and can only be judged subjectively.

For this reason, Gao Jun believes that a bid of 8 billion euros is enough.

It's just that, for the sake of insurance, to be precise, it is necessary to win FN company, so according to Wang Dong's proposal, Gao Jun raised the bid by 2 billion euros.

In other words, after deducting the shares held by BAE Systems, more than 7 billion euros will need to be spent to acquire the shares of the other three major shareholders.

Where did you get so much money?

That's not something Gao Jun needs to consider.

Wang Dong had already told him that as long as he could win FN Company, money was not a problem.

As for where Wang Dong's confidence came from, Gao Jun knew it in his heart.

Musharraf has been active in Saudi Arabia and has visited Prince Waleed frequently, and must have told him about the acquisition of FN.

With the support of this big tyrant, money is the problem?

Not to mention that Prince Waleed controls part of the operation of the Saudi royal family's funds, and can allocate hundreds of billions of funds, but his personal assets alone are tens of billions of dollars.

What's more, the acquisition of FN company allows D&F company to grow and develop, and Saudi Arabia can also gain huge benefits.

Local tyrants, what they care about is definitely not how much money is spent, but whether they can do good things after spending money.

As long as things can be done well, then there is no essential difference between spending 8 billion euros and spending 10 billion euros.