It was nearly nine o'clock in the evening.

Ji Cheng finally arrived at Edward's mansion.

Because Anne. Rocky stopped by, but Ji Cheng didn't have time to send her back, and her grandfather was also one of the heads of several Boston consortiums, so he brought him over.

in the house.

As soon as Ji Cheng walked in, he saw Edward, Old Rocky and others with sad faces.

"Ji, you're here."

"I've finally got you."

"This time Lawrence and Henry, those two guys are really ruthless."

"We have been deliberating for a long time and have no way to deal with it."

"Huh? Annie, why are you here too? ”

"Oh, I brought her here, and if what we're going to talk about isn't convenient for Anne, let her go to the guest room first."

"It's okay, she's her own anyway, so there's nothing inconvenient."

Eventually, Edward made the decision to let Anne. Rocky sat next to Ji Cheng and listened to the situation together.

"Ji, what do you drink?" Edward asked.

Ji Cheng looked at Adams IV, Robert. Lawrence and Aimee. Lowell and the others frowned and were not in the mood to drink or drink, so they waved their hands directly and said, "No need, let's talk about what happened first." ”

"Okay, then let Aimee tell me the specifics." Edward said as he looked to his left, "Aimee, you can say it." ”

Aimee. Lowell snorted and said slowly: "Before I talk about the specific situation, let me first introduce the composition of the shares of Chase Bank, its market value is now about 50 billion US dollars, of which Chase Manhattan Company ...... Well, it is the parent company of Chase Bank, which is wholly owned by the Rockefeller family, accounting for about 38% of the shares, and the remaining shareholders also have the Stillman family, Exxon Company, Ford Motor Company, MetLife Insurance, Pretty Country Telephone and Telegraph Company, Macy's, Indiana Standard Oil and other large companies, all of which occupy certain shares in Chase Bank. ”

Ji Cheng knew that this was the key information and listened very carefully.

"Because our major consortia have a certain degree of cross-ownership, First National Bank of Boston also owns about 3 percent of Chase." Aimee. "That's why Chase also owns four percent of Boston's First National Bank, which was worth the same amount at the time. ”

Cross-holding?

Ji Cheng vaguely understood what was going on.

Sure enough, Aimee. Lowell continued: "Again, the Morgans, the Citigroup, and other major conglomerates also have a stake in the National Bank of Boston, and there is also some public ownership, so the five of us actually have just over 50 percent of the shares in First National Bank of Boston. ”

The problem lies in these cross-holdings.

Ji Cheng couldn't help sighing, cross-shareholding has the benefit of cross-shareholding, but in the same way, if several shareholders join forces to deal with you, it is actually a very troublesome thing.

"And then Lawrence. Rockefeller and Henry. Morgan and the others have acquired enough shares to make a formal offer to you? Ji Cheng took the initiative to ask.

"Yes." Robert. Lawrence said in a bitter tone: "The Rockefeller family has openly and covertly acquired 27.3% of the shares of Boston First National Bank with Chase Bank as a tool of financial warfare, and now, if only a single shareholding is counted, Chase Bank is already the largest shareholder of Boston First National Bank." ”

"Twenty-seven .three percent of the shares?" Ji Cheng was taken aback, "How much did Chase Bank cost?" ”

"Twenty-two billion dollars." Adams IV said: "We found out too late, and in response to it, we fired the CEO of First National Bank in Boston, and also announced a series of future development blueprints to stimulate the stock market, raise the stock price, and prevent hostile takeovers, but even so, we still received the news, Lawrence. The Rockefeller guy is ready to buy 3.6 percent of the shares of First National Bank of Boston, and if he succeeds, Chase Bank will take 30.9 percent of the shares of First National Bank of Boston! ”

"Do you know what that means?" Old Lodge asked.

Of course, Ji Cheng knew what it meant.

Lodge Sr. took a deep breath and asked himself: "It means that by virtue of the shareholding ratio, Chase Bank can send representatives to the Board of Supervisors of Boston First National Bank as a major shareholder, at least two representatives, and then Boston First National Bank will not be our final say." ”

What a ruthless method!

Ji Cheng just listened to a few people and felt how shocking it was.

Once the Boston First National Bank Board of Supervisors is represented by Chase, then it will have the right to influence the right and left of Boston First National Bank, and then Chase will get more shares, let's go up to forty or fifty percent, of course, it will be an extremely long process, maybe a few years to fully achieve.

But as long as everyone understands, in the process, the Rockefeller family will use Chase Bank as a tool to constantly attack Boston's First National Bank to obtain shares.

"And that's not even the worst news." Edward smiled bitterly.

Ji Cheng looked over, "Huh? What's worse news? ”

Annie. Rocky's face became solemn as he listened, and he understood how dangerous the situation really was.

Edward sighed heavily, "The worst news is that I have received a tip that the Rockefeller family and the Morgan family are said to be ready to apply to the government of the beautiful country for Chase Bank to fully acquire the First National Bank of Boston after the increase in their stake to more than 35 percent, if nothing else, with the strength of the two of them, this proposal will be approved." ”

"Chase's Board of Supervisors has approved a proposal to increase its stake in First National Bank of Boston to 50 percent." Old Lodge added.

Aimee. Lowell was even more pessimistic and said: "What's even more ruthless is that Lawrence. The old Rockefeller also said that if the acquisition of the First National Bank of Boston is successful, the First National Bank of Boston will have to be reorganized at that time, even if there is a 'shock'. ”

Ji Cheng listened heavily, he never thought that the gaffe would deteriorate to this point, the Rockefeller family would not move, and if it moved, it would really be a landslide!

He tried to find an advantage for a few people, "So does First National Bank of Boston have any important corporate regulations that can help you resist being acquired?" ”

"Yes, there is one." Edward said: "Under the provisions of the Boston First National Bank Corporate Act, which still have a veto power for several of us, and major resolutions of the company must be passed by a majority of more than 80 percent plus one share at the general meeting of shareholders, according to this provision, even if Chase Bank's stake in Boston First National Bank is increased to 50 percent, it still cannot enjoy independent business decision-making power, and similarly, Chase Bank now has more than 20 percent of the shares, and we cannot make major decisions without the nod of Chase." ”

This is an important regulation to ensure that First National Bank of Boston will not be quickly swallowed up.

However, this also became an obstacle for the Boston consortium to take control of the First National Bank of Boston.

Ji Cheng listened so much, and always felt that this acquisition was very similar to a certain acquisition case in his memory, he did not immediately give everyone any advice to deal with, but said calmly: "I know the general situation, otherwise, I will go back and think about how to deal with this difficulty, and I will give you an answer tomorrow?" ”

"It's okay, I really can't think of any good way for a while." Edward said very understandingly: "We are also discussing here, but we still believe in you, a ghost in the financial industry, and hope you can come up with a solution." ”

"Okay, then I'll go back ......first," Ji Cheng suddenly thought of a key question, "By the way, you just said that Chase Bank spent about $12 billion to acquire 23.3% of the shares of First National Bank in Boston?" ”

Because Chase Bank originally owned 4 percent of the shares of First National Bank in Boston, this part did not cost money, and the remaining 23.3 percent was purchased with money.

"Yes." Aimee. Lowell nodded.

Ji Cheng was puzzled: "Where did Chase Bank get so much money?" ”

He remembers very clearly that the Rockefeller family planted a big heel in the soybean futures incident and the United Airlines incident, and lost a lot of money in it, although the Rockefeller family controls assets of hundreds of billions or even trillions of dollars, but it is impossible to have so much liquidity, which can be seen from Citibank taking the lead in finding a loan from Riben Bank to acquire United Airlines.

Since the other party has no liquidity, where will the money come from to buy the shares of First National Bank in Boston? Moreover, if we buy $12 billion and then buy the shares of First National Bank in Boston, if we don't buy all of them, we can say that we will buy another 20 percent or 50 percent, and then we will have to come up with at least $12 billion in huge funds.

Chase Bank can't have that much liquidity, it can't be!

Ji Cheng is very sure of this.

"Chase is said to have borrowed $9 billion from the world's big banks, and the interest on this loan is very low." Edward shrugged his shoulders and said, "You also know that the financial market of the beautiful country has been recovering since the stock market crash in 1987, and this year it is even more prosperous, and banks around the world feel that Chase Bank can repay the loan, so the interest rate is very low." ”

Ji Cheng was stunned, "Chase Bank has already borrowed $9 billion? ”

"yes, what's wrong?" Adams IV asked, unsure.

Ji Cheng asked again, "If Chase Bank still wants to continue to increase its holdings in Boston First National Bank, will it continue to borrow?" ”

"That's for sure, such a large acquisition would be difficult to digest on Chase's own financial capacity alone." "My guess is that Chase would have to borrow at least $12 billion to $15 billion to get more than 50 percent of First National Bank in Boston, and if it wants to buy it out, I think it will have to borrow at least $25 billion to $30 billion on top of that, that is, all the debts before and after add up, Chase Bank should have $46 billion to $55 billion in debt or more." ”

Boston First National Bank now has assets of about $50 billion, but it does not mean that it controls so many assets, in fact, Boston First National Bank, as the core of the Boston consortium, controls assets of at least more than $200 billion.

Moreover, assets of $50 billion does not mean that you want to spend $50 billion on the acquisition, and the acquisition will definitely be at a premium, even if you exclude the 4 percent of the shares originally held by Chase Bank, the most important thing is to buy all the shares of Boston First National Bank Ji Cheng is estimated to be at least $60 billion, and if the stock price of Boston First National Bank rises sharply during this period, it is not impossible to even buy 780 billion yuan.

Can Chase Bank take on such a huge amount of debt?

Even if you can wait until you buy First National Bank of Boston to sell some of your assets to pay off your debts, you still have to come up with that much money before the acquisition is completed.

Ji Cheng felt very puzzled, and he didn't have much thought at the same time, "I probably understand the situation, I'll go back and think about it." ”

"The sooner the better, time is of the essence." Edward admonished, "I'm afraid that they will submit a proposal to the government of the beautiful country in advance to fully acquire the First National Bank of Boston, and if it is approved, the consequences will be unimaginable." ”

Ji Cheng felt the urgency of time, but he still had to go back to the modern society and check a lot of similar acquisition examples to judge, "Don't worry, I will come up with a way to solve the problem as soon as possible." ”

"Well, we're counting on you."

"Ji, it's up to you."

Everyone has a request for Ji Cheng, and naturally he is not stingy with good words at this time.

Annie. Rocky was very worried, she didn't expect the family to fall into such a big dilemma overnight, she was very worried in her heart, and she very much hoped that Ji Cheng, the world's top elder in the financial industry, could come up with a solution to the problem for the Boston consortium, but reason told her that the Rockefeller family was menacing, and it must have something to rely on, no matter how powerful Ji Cheng was, it was impossible to think of a countermeasure overnight.

This...... The Boston consortium was really pushed to the edge of a cliff.

Once the Boston consortium collapses, the strength of the Rockefeller family and the Morgan family after the annexation of the First National Bank of Boston is bound to skyrocket.

Annie. Rocky knew in his heart that because of this, whether it was Ji Cheng or the Boston Consortium, they could not lose this earth-shattering battle!

Although Ji Cheng didn't know Anne. Rocky was thinking about something, but he was also aware of this problem, if the Boston consortium failed, then with Joaquin Capital's own strength, it would not be able to resist the powerful Rockefeller family, not to mention that the Morgan family is now acting as a helper behind the Rockefeller family.

This battle, he must win!

But what does it take to win this grand battle?

Ji Cheng wants to go back and take care of it.