Manhattan, late at night.

Ji Cheng, who had just returned home, used time and space to travel back to modern society for the first time, downloaded a series of classic acquisition examples, and then returned to time and space in the eighties again to start flipping through them.

Considering the urgency of time, Ji Cheng did not look through the room, but came to the mysterious space.

Because time stood still here, he had plenty of time to look up.

He was the first to watch the top 10 mergers and acquisitions in the world in 2,000 years.

For example, Vodafone's acquisition of Mannesmann is a hostile acquisition involving a huge amount of capital, and Vodafone, the world's largest mobile phone company, acquired Mannesmann, a veteran German telecommunications and industrial group, and after some competition, Vodafone finally acquired Mannesmann at a total price of $132 billion.

"This acquisition is not quite like this, and let's look at something else."

Ji Cheng looked at it carefully for a while, and then turned to the second eucalyptus to watch.

This time, it is Beautiful Country Online and Time Warner to form a super giant, because this merger and acquisition is friendly cooperation, so there is no reference value.

Three eucalyptus examples.

Five eucalyptus examples.

After a while, Ji Chengcheng finished reading the top ten classic mergers and acquisitions in the world in 2000.

Some have a certain reference value, but the reference is not strong.

Ji Cheng began to look at something else again.

One hour ......

Three-hour ......

Ten hours ......

He didn't know how long he had been watching, only that it had been a long time.

Finally, when looking through the classic acquisition cases in 2005, Ji Cheng saw something similar!

The famous "Volkswagen vs. Porsche Wolf Castle Offensive and Defensive Battle" example!

"Found it, this is it!"

Ji Cheng hurriedly sat down to watch the details of the merger and acquisition.

The background of the incident is probably because Volkswagen CEO Piëch used to be a Porsche man, and even after leaving, he still owns 38 percent of Porsche's shares.

The leading figure of the Porsche Group at that time was Wolfgang. Porsche, although Porsche's annual production and sales are only 100,000 units, Volkswagen's as many as more than 6 million, but in terms of single car profits, Porsche was the world's most profitable car manufacturer at that time, with a pre-tax profit of 21,799 euros per Porsche, almost nine times that of the second-ranked BMW, and Volkswagen's profit per car was only a possible 332 euros.

It has always been the dream of the Porsche family to bring Volkswagen, which embodies the hard work of the old Porsche, under its command.

To this end, the Porsche Group turned its guns on Wolfsburg, the Volkswagen ruled by Piëch.

Porsche increased its stake in Volkswagen, overtaking the Lower Saxony state government to become Volkswagen's largest shareholder.

In November 2006, Porsche invested billions of euros to increase its stake in Volkswagen to almost 28 percent.

Piëch, who was at Volkswagen's headquarters in Wolfsburg, immediately became alert, and he immediately changed his formation to meet the enemy, decisively firing the company that he had cultivated and taking the low-end brand route as his business policy, and replaced him as CEO with Audi Chairman Winterkorn.

As a result, Volkswagen's stock price rose sharply to avoid being swallowed up in the first place.

"Well, it does look a lot like what Chase did to First National Bank in Boston."

The more Ji Cheng looked at it, the more he felt similar, and he continued to watch, wondering how Porsche and Volkswagen competed.

Piëch concentrated his firepower on Porsche's luxury car territory, but this deployment came too late to stop the artillery fire under his nose.

In January 2007, Wolfgang. Porsche finally acquired the highest rights in the Porsche Group and increased its stake in Volkswagen by about 4 percent in less than two months after taking office, bringing Porsche's ownership of Volkswagen to almost 31 percent.

"With the proportion of shareholdings, Wolfgang. Porsche joined the Supervisory Board of Volkswagen AG as a representative of the major shareholders, and at the same time, Porsche's two main agents, the company's chairman Wei Dejin and the financial director of the Supervisory Board of Hartaudi AG, the Porsche family had more say in Volkswagen. ”

Ji Cheng read this information carefully, frowned, and said, "Isn't this the same as the Rockefeller family's approach?" ”

Then in July 2008, the European Union approved Porsche's plan to fully acquire Volkswagen, and the biggest concern was eliminated, Wolfgang did not give Piëch any respite, and once again mobilized artillery fire to launch a new round of peripheral attacks on Wolfsburg, such as on September 2, Porsche increased its stake in Volkswagen to more than 35%!

Rather than sit idly by under Porsche's fierce offensive, the hard-line Piëch used the trade unions and the new Volkswagen Company Law to build two lines of defense and resist, such as the company law, which requires the majority of more than 80 percent plus one share at the general meeting of shareholders to approve important decisions.

】

"Well, the more I look at it, the more I feel like it."

Ji Cheng recalled the situation introduced to him by Edward and others, and found that so far, everything the Rockefeller family has done is almost the same as what Porsche has done to the public.

"That's why Wolfsburg was able to recover, but Wolfgang and Porsche didn't rest on their laurels."

Ji Cheng finally saw the turning point!

In October 2008, due to Porsche's stake in Volkswagen, profits exceeded sales for the first time, and because Porsche successively increased its stake in Volkswagen, its stock price repeatedly reached new highs, at this time the stock price has reached a terrifying 275 euros, far exceeding the average share price of Porsche in batches, and according to Credit Suisse, Porsche's pre-tax profit in the first half of 2008 far exceeded sales, so the revaluation of Volkswagen's shares increased by 5.9 billion euros.

More importantly, on 24 October, Porsche's stake in Volkswagen reached 42.6 percent, and there were still 31.5 percent of the options, which should have eased the financial pressure, but two days later Porsche released a shocking news: The plan to increase its stake in Volkswagen by more than 50 percent by the end of 2008 will not change, and if the economic environment allows, it will even increase its stake in Volkswagen to 75 percent.

The German stock market is in a panic, and in the eyes of many hedge funds that are short Volkswagen shares, Porsche is unlikely to increase its holdings to as much as 75 percent, and in recent months Porsche has been signaling that it will stop increasing its holdings. However, with the help of sophisticated financial tools, Porsche secretly increased its holdings step by step according to the carefully designed rhythm of Wolfgang and Weidejin, and by the time they made the news public, Volkswagen's stock price was already at a high level.

Hedge funds have no choice but to panic and snap up Volkswagen stocks, buying at high prices to close their short positions. On October 27, Volkswagen's stock price soared by 147 percent, and the next day it rose by 82 percent to 945 euros, and even jumped to 1,005 euros.

The whole of Europe was shocked, and hedge funds cried and grabbed the ground, and their losses amounted to more than $20 billion, which was terrible. Seventy-four-year-old Merkler, Germany's fifth-richest man, even committed suicide in despair because of a failed investment in Volkswagen stock.

For a time, the spearhead of public opinion was pointed at Porsche.

Some analysts have unceremoniously pointed out that Porsche's speculative trading of Volkswagen shares has become the company's core business.

Wolfgang and Weidekin hit back, saying that the company's use of cash-settled options to quietly increase its stake in the public did not violate any information disclosure regulations.

While Porsche was following the elaborate line of attack of Wolfgang and Weidkin, the global financial crisis had spread to the automotive industry, and Porsche's sales fell sharply by 12.8 percent in the 08-09 fiscal year, especially in the United States, the most important sales market.

This sudden attack was enough to dampen the Stuttgart people's domineering arrogance and to dampen Porsche's frenzied offensive. In November '08, Porsche unilaterally and reluctantly announced that its plan to increase its stake in Volkswagen by more than 50 percent would be postponed from the end of '08 to the beginning of '09.

The end of the strong crossbow cannot wear Lu Min. Piëch, who was far away in Wolfsburg, had a good eye on the situation in Stuttgart, and he knew that the tide of battle had turned.

"Not surprisingly, Porsche's capital chain is broken!"

Ji Cheng made a judgment before he read the content of the next information, and in order to verify whether his idea was right, he continued to read it.

Sure enough, in the days that followed, Porsche was mired in financial crisis.

In recent years, in order to conquer Volkswagen, Porsche has borrowed nearly 10 billion euros from the bank, because the financial market was good before, so the interest rate was very low, but the financial crisis broke out in 08, and the bank's attitude became tough, unless Porsche paid higher interest on the loan amount, it would not extend the loan amount due at the end of March 2009, let alone obtain higher loan funds.

"Porsche has to send it when it is ready to fly, of course, there is no choice but to agree to the bank's difficulties." Ji Cheng looked at the information on the information that Porsche promised a new loan with a one-year interest rate of 10 billion euros to alleviate the urgent need, and knew that Porsche was finished.

"Because of the loan and the economic downturn, Porsche once lacked 2.5 billion euros of funds to maintain its operation and production, and although the Bank of Tokyo promised to provide a loan of 750 million euros, there is still a funding gap of 1.75 billion euros."

Ji Cheng blinked, "Porsche is really helpless, applying for a loan from the state-owned KfW Bank, and even signing the idea of a corporate bailout fund launched by the German government, which is clearly the end of the crossbow." ”

Of course, the German government refused to borrow money, and even broke the cold water, saying that "it is ridiculous to ask the state to bail out a company that has made a fortune from derivatives financial business".

At this point, Porsche is completely powerless, and can only protect itself by merging with Volkswagen.

But the problem was that Porsche was heavily indebted and had no voice or bargaining power in front of the hard-line Piëch.

And at this time, something even worse came, the Qatari sovereign wealth fund proposed to participate in the shares, such as Porsche, such as funds, to obtain 25 percent of the shares, but before Porsche could react, the local government warmly welcomed the Qatari sovereign wealth fund to take a stake in Volkswagen.

As a result, there has been a shift in attitudes among Qataris, who are demanding that Volkswagen and Porsche reinvest if they agree on a merger.

"The ultimatum is here, and the Porsche is completely finished."

Ji Cheng looked at the bold black font at the end and shook his head: Volkswagen finally invested 30 to 4 billion euros to acquire 49 percent of Porsche's shares.

Although Porsche felt that it was blackmail, the trend was gone and it could only be acquired by Volkswagen.

After reading the whole case, Ji Cheng probably has a judgment on the current status quo of Chase Bank and First National Bank of Boston, and knows what to do to win.

"The main reason for Porsche's failure was that the capital chain was broken, and in addition to the subprime mortgage crisis, it was unable to borrow money anymore." Ji Cheng calmly analyzed, "And the Rockefeller family's capital chain is also in a state of shortage, and even the previous acquisition of Boston's First National Bank shares borrowed nine billion US dollars, but the current economic situation is not bad, and Chase Bank can continue to borrow money from banks in other countries, but what if the economic situation is not good?" ”

The next step is for the banks to announce their rejection of the $72.5 billion syndicate loan program led by Chase and Citibank, which will cause the collapse of the financial markets in the United States, starting with the impact of leveraged buyouts, the complete collapse of junk bonds, and the collapse of the stock market, causing strong shocks.

"And that's not the worst." Ji Cheng squinted his eyes and thought: "In more than a month, the stock market will completely collapse, and the global economy will be affected. ”

It could even be worse.

Because no matter what, Porsche ended up borrowing 10 billion euros, although the interest rate was very high.

But if the stock market crash breaks out, Chase Bank will most likely not be able to borrow a penny.

Why?

Because the Japanese stock market crash caused not only the failure of the market itself, but also the crazy decline in its own valuation, the international community is also in a period of turmoil, such as the famous Gulf War, as well as the drastic changes in Eastern Europe.

Since the international situation is so bad, those banks will definitely be extremely cautious about lending, and the funds that Chase Bank needs at that time will not be one billion or two billion dollars that can be solved, but at least tens of billions or even tens of billions of dollars, how can those banks dare to borrow so much money?

"This is a great opportunity, a great opportunity to completely defeat the Rockefeller family."

Ji Cheng already has a general countermeasure in his head to help the Boston consortium get through the sadness, no, not only the countermeasures, but even he thought of how to crush the Chase Bank, the core of the Rockefeller family, if the operation is good, maybe he will have a chance to join the Chase Bank!

What does it mean to be able to join Chase?

On behalf of Ji Cheng, he can use Chase Bank to control most of the industries controlled by the Rockefeller family before, hundreds of billions of dollars or even trillions of dollars in assets!

Why did the Morgan family later crush the Rockefeller family? It was because the Morgan family acquired Chase Bank, the core of the Rockefeller family!

If Huajin Bank can successfully merge and acquire Chase Bank, Ji Cheng can foresee what will happen, he will definitely be powerful and become one of the masters of the beautiful country!

"Once it comes true, then my status and power in the beautiful country will be in full swing, and I will even replace the Rockefeller family and become the second largest consortium in the beautiful country with the Morgan family!"

The more Ji Cheng pondered about it, the more he felt that it was feasible, and the whole person was excited.

He knew he had a chance, and that ticket was close at hand!

No!

This is no longer the ticket!

It's the deed of the move-in!

There is only one thought in Ji Cheng's head: My time is coming!