Chapter 339: Warren Buffett, Smith, Soros
Following the U.S. Pacific Commercial Bank on November 9.
Announced that the tender offer price for Amex would be raised to $35.
Intraday on the day.
Amex's stock rose from $30.5 to $37 in one fell swoop.
The next day, November 10 and the third day, November 11, is Sunday, and global stock markets are closed.
Day four, November 12.
As soon as the market opened in the morning, the price of Amex shares broke through forty dollars.
On this day, one of the shareholders of Amex, Jim Walton, came to Los Angeles.
At the foot of Beverly Hills, Abel stayed with Ikana last year in the Executive Lounge business meeting box.
γ. I'm sorry, Mr. Smith, but we think the share price of Amex is grossly undervalued, so, you get the idea."
Bright and simple in the InterContinental Business Boardroom.
On the left and right sides of Abel's side sat David Jones and Alan Baker, two humming generals.
David always had that smile on his face, and Alan Baker had a calm face.
Behind him, stood several members of the Smith Wisdom Order, as well as Abel's Four King Kongs.
On the opposite side of Abel is Jim Walton's own private investment company.
The person who spoke just now was Jim Walton, the majority shareholder who holds a 1.5% stake in Amex.
"Smack!"
Able smiled and snapped his fingers.
He reached out and took the checkbook next to him, which David handed over at the right time.
In the burning eyes of everyone opposite, Abel picked up the signature pen and drew circles on the cash check.
Tear pull β
The cash check was torn off, the corners of Abel's mouth went up, and with a light smile, he held the cash check between his two fingers and said lightly:
"That's $750 million, based on a $35 share offer. Mr. Walton, if you agree to the deal, then it's yours."
Jim Walton's eyes couldn't help but stare at the cash check that trembled slightly in midair.
Jim forced down the slightest urge to agree, greed prevailed in his heart, and he wanted more.
"I'm sorry." Jim Walton smiled and wanted to say something.
"You refused, did you?"
The faint smile on Abel's face disappeared, and he asked again with an indifferent expression.
"yes, I don't think the current offer is," Jim Walton said at least fifty dollars.
Even when Jim entered the market, Amex had only $10 a share in stock at that time.
According to Abel's offer, Jim can already make almost $500 million.
But people are greedy after all, and the richer people are, the more greedy they are. Jim Walton is also a person, there are still very rich people, and his greed is certainly stronger.
Jim Walton wants more, and he thinks a billion dollars is worth Abel's richest man in the world.
But the next scene made Jim Walton feel bad in his heart.
"Thorn, stab~~"
Jim Walton and his entourage were stunned and their faces changed.
Abel withdrew his hand indifferently and tore it in the middle with the cash check.
Then leisurely fold in half and tear it again until it is torn into shreds, spread out your hands, and let the pieces of paper fall on the conference table.
"I'm sorry to delay you. Goodbye, Mr. Walton."
Abel stood up with a faint smile and tilted his chin slightly.
He looked at Jim Walton with an ugly face arrogantly and sharply, pulled off the hem of his suit, and walked directly to the temporary business conference room provided by the InterContinental Hotel.
The others followed, smiling all the time, and David, who looked the mildest, paused slightly.
Under Jim Walton's waiting gaze, David put the check on the table
The shredded paper gathered into his hands and put them in his pocket.
Then David smiled at the other party and nodded, before leaving directly, looking a gentleman's mess.
But what he did made Jim Walton feel like his lungs were going to explode.
"Fack! Fack!"
As soon as David's men left, Jim Walton immediately cursed.
His face was ugly and abnormal, and when he stood up and wanted to scold.
Knock Knock β
A few seconds later, a trader working for Jim Walton appeared at the door of the conference room with an anxious look on his face and knocked on the door twice.
Under the watchful eye of the boss, he reported nervously.
"Mr. Walton, just now the Pacific Commercial Bank announced that it will not raise the price of the general offer for American Express again. The purchase price will only be $35, not a penny more."
"After the announcement of the news by the American Pacific Commercial Bank, the stock price of Amex fell in response, from a high of $41.5 a share a few days ago, and has now fallen to $39.5 a share, and from the analysis of data, it will fall."
"Peng!"
Jim Walton kicked the desk hard, and it turned out that the desk at the InterContinental Hotel was too hard and heavy.
He didn't kick it, but Jim couldn't help jumping on one foot in pain, looking a little embarrassed.
"Fack! Fack!"
"Hiss~~"
Jim gasped, and the kick hurt too much.
But now is not the time for pain, and Jim Walton endures the pain and immediately orders one of his subordinates.
"Call Abel Smith now! Tell him I'm willing to make a deal with the terms I just had! $750 million is $750 million."
Jim Walton said.
The general manager of his private investment company hurriedly contacted Smith Intelligence Group.
The call was easily made, but the result was ugly for the general manager.
"What's going on?" Jim Walton, whose feet didn't hurt so much anymore, became a little worried when he saw his face.
The general manager of the investment company said, "BOSS, Alan Baker said that your refusal just now made his boss very angry. So Abel Smith decided not to buy any more shares of Amex from you."
Jim Walton was stunned, and anger welled up on his face: "Fake! Fack! Falk he Smith! Shet!"
No matter how much the son of the founder of Walmart scolded, he finally missed the perfect time to be able to sell all his shares at once.
U.S. stock market.
The stock of Yuntong Company also fell wildly, and before the market closed on the 12th, it fell to about $35.
At this price, it stabilized.
Because of the Pacific Commercial Bank, it really does what it says, how many acquisitions are under $35.
On top of this, it is indifferent.
This looks a bit similar to the Sampura Energy time, but the difference is that Abel did not deliberately wait for the stock to soar before making a move.
Before it could be managed, he asked the Pacific Commercial Bank to issue a notice.
Compared with the last time I united those institutions to cut leeks, there were also some unlucky people who suffered heavy losses this time.
But it's not like manipulating the market last time, so not many financial media have come out to scold it this time.
The next day, November 13th.
In the morning, Abel's motorcade had just pulled out of 812 North Bedford Road in Beverly Hills.
David in the passenger cab answered the phone, and after answering the phone.
David turned to look at Abel, "Boss, there's a spoiler. After the market opened in the morning, a large amount of money came in and began to sweep the shares of the company."
Abel's brow furrowed slightly, but he didn't worry too much.
Among the hostile takeovers, there are black knights like themselves, and there are white knights.
Appeared white knight's
The probability is too great, whether it is an ally of Yuntong or a speculator who wants to make a fortune from it, this kind of thing cannot be eliminated at all.
"Do you know who the other person is?"
"I know, the other party did not hide himself, according to the information provided by the exchange, the funds came from Soros Fund Management Company."
You don't need anyone to explain, just by listening to the name, you know who is behind this company.
Soros Fund Management Company is a fund company owned by George Soros.
Unlike the Quantum Fund, which he and Rogers co-founded, Soros Fund Management is mainly engaged in normal financial investments, mainly in stocks.
In contrast, Quantum Fund is one of the most well-known hedge funds, playing small and big, using super exaggerated leverage to take advantage of the dollar tide and harvest the world.
The last time I was in the Norwegian krone, I can say that I was on the opposite side of Soros and international travel capital.
Although Soros retreated early, the losses were not very large.
But Abel let Soros waste months in Europe, but he didn't make any gains, and even lost millions of dollars.
This is already a defeat for George Soros.
You must know that at the beginning, Soros frequently showed favor to Abel.
In the middle, Abel also hinted at why international travel capital and Soros stood together, and everyone happily cut Norwegian leeks together.
But later, when Abel was profitable, he immediately turned his face and didn't recognize anyone.
Standing between Norway and Soros, he swayed left and right, taking advantage of both sides.
Although Soros didn't say anything afterwards, because Abel's approach was too much in line with the tone of financial capitalists.
Even deep in Soros's heart, he is still laughing at Abel's immaturity.
If Abel and Soros had changed positions at that time, the old guy felt that he had dozens of ways to get more Libyan than Uncle!
Comparing hearts to hearts, Soros didn't feel that there was anything abnormal about Abel's approach.
Other financial capitalists would do the same, or even worse.
But after this incident, the two can be regarded as feuds.
If there is a chance to retaliate or fall into the trap, George Soros will never hesitate.
It's the same as when Abel was standing in the middle and swaying from side to side, asking for benefits from both sides!
This time, the old guy would want to take revenge on himself in the stock market, and Abel was not surprised at all.
Abel squinted his eyes slightly, the cold light flickered, no matter what, if the other party came out to stir up the situation at this time, it would bring him some trouble.
If Soros has been connected with Amex and become an alliance, then the trouble may be even greater.
Anyway, since the other party can't bear the loneliness, he makes a move.
Abel can't ignore it, and can't ignore it, after all, Soros Fund Management is also one of the Wall Street giants.
Soros, who has oil capital standing behind him, is very financially powerful if he really wants to get serious.
He can dig a pit for Soros, and naturally it is impossible to ask Soros not to fight back.
"Hehe, then let's see who is better!"
The corners of Abel's mouth rose, his eyes sharpened, and he muttered to himself.
& On the 13th of the month.
After knowing that Soros Fund Management Company made a move.
The top management of the Amex Company, represented by Kenneth Cherott, immediately made public overtures to George Soros.
Soros Fund Management is also very cooperative.
George Soros himself did not come forward.
Tims, the general manager of Soros Fund Management, held a press conference this morning.
At the press conference, Timms praised the value of Amex.
It claims that the company, which has a long history and is favored by Warren Buffett, Smith and Soros at the same time, is actually worth far more than its stock price.
Timms claimed that Soros Fund Management's move this time was not speculation, but value investment.
Soros Fund Management will hold American Express shares for a long time and use it as a heavy stock in the company.
After this press conference, wait until noon when the U.S. stock market closes.
Amex shares, spurred on by this major positive news, rushed back from $35.9 at yesterday's close to $39 a share.
At this time, whether it is investors or those financial media.
All want to know what Abel Smith means now.
Soros stood up and said that he was going to rush to get through with him.
Could it be that the richest man in the world doesn't come out to say two words?
This is the only service company in the Dow Jones Industrial Index.
Buffett is also just right, Smith is also optimistic, and now even Soros is optimistic.
Of course, it's buying, buying, buying.
It is clear that after the market reopens in the afternoon, the share price of Amex will rise.
At this time, Abel was already at the intersection of Highland Street and Sunset Boulevard, the busiest traffic intersection in Hollywood, Los Angeles.
To be exact, he was in the new headquarters of MGM Motion Pictures next door.
A few months ago, Abel took a fancy to a 50-story boxy commercial building here.
After taking a fancy to it, he directly asked his new real estate company to take action.
After buying the building, it was rented to MGM at a very cheap price and acquired the building as the new headquarters of the film group.
A few months later, MGM Movies, DreamWorks Movies, Marvel Movies, DreamWorks Animation, Pixar Animation and other subsidiaries of MGM Movie Group basically moved into the office.
Due to the spaciousness of the building, there is still a lot of office space left.
DreamWorks Music has also opened a recording studio here.
A part of Smith Media's subsidiaries has also added a Los Angeles branch here.
A large number of office staff and staff moved in, making the building lively all of a sudden.
Every day, tourists and passers-by passing by Sunset Boulevard or Highland Street will see all kinds of cars parked in the parking lot outside the building that has been hung with the sign of "MGM Movie Group".
To be able to work in such a spacious and comfortable place, with new equipment and new building decoration, and a very important location.
All the staff were happy, including the stars and actors.
The only not-so-good thing is that the building is at the busiest intersection in Hollywood.
During the rush hour of the day, there is no more than one or two hours of congestion, it is like the sun coming out of the west.
Abel has always liked to work from a high place.
His office here, of course, is located on the top fifty floors, directly facing the intersection below.
Around noon.
In front of the huge floor-to-ceiling window of the chairman's office, Abel crossed his hands on his hips.
Looking at the traffic jam below that was at least a few kilometers long, he had a feeling of schadenfreude.
Turning, he looked at the couch in the lounge area of his office.
Robert Iger, CEO of MGM Cinema Group and CEO of Smith Media, and others sat on the couch and watched him.
Able walked over, facing his subordinates, he smiled and spread his handsβ
"Looks like it's necessary to prepare a business helicopter for you? Otherwise, if you are in a hurry to travel, but you encounter such a big traffic jam, it will be more troublesome."
Robert laughs, "There are a lot of employees now who would rather come by bike and motorcycle."
Michael Levine also quipped, "I don't need an employee, I'm a bicycle myself. It's too congested to drive."
Next to the head of DreamWorks films, the great director Spielberg thought to himself - you live in a luxury apartment less than a mile away, of course you can come by bicycle.
But Spielberg didn't say anything, because the mansion where the big director lived was much closer, and it only took less than ten minutes to walk
"Alright. Let's not talk about it." Able chuckled and said, "It's November. Let's talk about our plans for next year."
Here today, he brings together the entire Smith Media Group to be responsible for film.
The heads of the major film companies under the MGM Film Group are all here at this time.
Abel glanced at it and directly named the great director Spielberg.
"Steven." Abel smiled and said, "How about you say first? Let's talk about our plans for next year's DreamWorks films."
The DreamWorks Movie Triumvirate, after selling all the company's shares to Abel.
According to the contract, the three of them only need to make films, or engage in film-related work.
Smith Media, which bought DreamWorks Films, has the right to hire them first.
In fact, it is.
Jeffrey Katzenberg of the DreamWorks Big Three, who is now in charge of DreamWorks Animation, is here today.
David Geffen is in charge of the music at DreamWorks, which today is mostly about the film stuff, and David doesn't use it.
The famous director Steven Spielberg is currently the general manager and chief producer of DreamWorks Films.
In addition to making his own films, Spielberg is also responsible for DreamWorks Films.
After all, hundreds of millions of dollars are not so easy to get, and the value of the Big Three itself is the most fascinating thing about DreamWorks.
Spielberg did not contradict this, serving as general manager has a general manager's remuneration, and the chief producer also has the producer's remuneration.
In addition, if you shoot a movie, the director should be paid no less.
Although there is a little more work and a lot of responsibility, he also has a little more power in Hollywood.
What's more, the young man standing in front of him is the richest man in the world.
Working for the richest man in the world, the big director thinks there is nothing wrong with it.
"This year's work is almost done." Spielberg said:
"Due to Jeffrey's injury earlier, David didn't care. So this year, DreamWorks has only shot one film, which is currently in post-production and is expected to be released in February and March next year. Oh, and the name of the movie is 'Tuxedo.'"
"Tuxedo?"
Abel felt that the name of this movie was a little familiar, and he seemed to have seen it.
Spielberg explains:
"The director is Kevin Donovan, a new director, but very capable. The starring role is Jack Cheng, a famous Chinese action superstar. He did well at the box office at his peak last year, and we thought he was going to be very popular in Hollywood, so we invited him to shoot 'Tuxedo.'"
Abel nodded, no wonder he felt that this work was a little familiar.
It turned out to be Cheng Long's work, and he remembered that he seemed to have seen it, and it was quite good-looking.
"What about other than this movie?" Abel asked again.
"At present, we plan to shoot two works."
Spielberg reported: "One is 'Cat and Mouse', which I will direct, and I intend to invite Leonardo DiCaprio and Tom Hanks."
"The other is an alien science fiction movie. The director is tentatively identified as Toby Hooper. The actor's words are tentatively Emily Bogle, Dakota Fanning and others."
"Oh, that sounds good."