Chapter 50 Acquisitions

After taking a closer look at the information of this Sky fund company, the operation is ordinary and the scale is very small, and it is only one of the many micro fund companies on Wall Street.

But compared with other companies with debts that are close to bankruptcy, if they manage well, they can still barely survive, with all kinds of licenses, and even the scale of funds under management has exceeded 80 million US dollars.

A few years ago, because of the stock market crash, the financial industry as a whole was not good, but with the fall of the polar bear, the United States has become the world's only superpower, and has begun to harvest wealth around the world.

It can be said that we are at a turning point in the financial industry in the United States, and many people in the industry can see it, so unless it is really impossible to operate, they will not sell their own companies.

There are many fund companies on Wall Street, especially those that meet Locke's conditions, and the information given by Mr. Robert, the salesman, to Locke's three companies has been screened out many times.

"It's a really good company, and it's been doing well in the past few years, and the founder, Mr. Andrew, was a professor of finance at Columbia University.

Later, Mr. Andrew resigned and founded the Sky Fund Company, which was a good market at that time and made a lot of money, but then encountered a stock market crash, and the fund managed by Mr. Andrew lost a lot of money.

After all, the money lost by the fund was not his own, and he still made millions of dollars.

But Mr. Andrew's new wife and son are very fond of spending money, especially last year when his son was involved in a murder.

In order to exonerate his son and pay a huge amount of bail, Mr. Andrew spent a lot of money, and at this time his third model wife had to divorce him, which also divided a large amount of money from him.

Mr. Andrew had to dispose of most of his assets, and now he has only this company left except for the house he lives in, but he still has various expenses to pay......"

"OK, I think I get it."

Locke nodded, this Mr. Andrew obviously had a problem with his family, which made his financial situation worse, which is not uncommon in the United States,

The company does fit Locke's requirements very well, the scale is not large, but it is relatively perfect, and it is not a pheasant company with only one or two people.

With such a ready-made framework, Locke was able to integrate the company at a much faster pace, and this ready-made platform would save him a lot of time.

Taking a closer look at the financial report of the Sky Fund, after the stock market crash a few years ago, major customers began to withdraw their funds, and Mr. Andrew barely left more than $20 million after many campaigns.

But the situation did not improve in the next few years, and it became increasingly difficult to find those who were willing to invest, and more and more investors chose to withdraw after the investment expired.

Of the $7 million in the current account, more than four million are about to be liquidated and transferred to investors' accounts.

The rest belong to the same investor, whose funds are only half a year away from liquidation, especially since last year, when the company has barely raised a single dollar of investment.

Obviously, after the major problems in the family, Mr. Andrew did not have the time and energy to run his own company seriously, which also accelerated the decline of the company.

Prior to this, Locke had no less access to financial information, and with a glance at these financial reports, he could quickly find out if there was a problem in them.

As a boss, you may not need to personally manage specific things, but if you can't understand the financial report, can't understand the company's situation, or find problems, the final result will definitely be to become a wronged leader.

It can be said that this Sky Fund Company is about to run out of water, and more than $700 of funds belong to investors, and it has no money itself, but fortunately, there is no debt, and only about $100,000 of employee wages have not been paid.

After reading all the information of this company, Locke shook his head and sighed a little:

"It's a pity, if we can continue to hold on for a while and get new funds, there is still hope for a turnaround, obviously Mr. Andrew doesn't have that heart and energy now."

"This company is really good, with less debt, employees, licenses, office space, etc., and it can operate normally after completing the formalities.

I have just contacted and confirmed that the office rented by the company has three months to expire, and the building is less than ten minutes' walk from here, so why don't we go and have a look.

We can call Mr. Andrew now, and his asking price was reduced to $1 million last week. ”

"Indeed, it is not easy to run a fund company that has lost credibility in the eyes of investors." Locke looked at the information and dealt with it casually.

Mr. Robert, the salesman, echoed Locke's words casually, but in his heart he thought that he was a rich kid with a heart higher than the sky.

There are many such people who don't know the height of the sky every year, and almost all of them have to go home in disgrace and bear the "pain" of 'inheriting' the family property.

After reading the information, Locke did not make a decision immediately, but began to pick and choose: "Is the figure of one million dollars a little higher, the information says that there are less than two thousand dollars left in the company's account." ”

"That's true, but it also includes office supplies, such as computers, desks, printers, and office leases," Robert explains.

In addition, Mr. Andrew himself holds a portion of Time Warner's stake through the fund, which is currently worth about $700,000. ”

"But they still owe $100,000 in employee salaries, and if I'm not happy with them, I'll need to spend another amount of money to fire them."

"Maybe we can go and talk to Mr. Andrew in the afternoon, believe me, one million is definitely not his bottom line."

"Well, it may seem like a hundred thousand dollars, but I don't want to be wronged." Locke said:

"You know, at my age, guys on Wall Street think this guy seems to be a good deceit."

Hearing Locke's words, the salesman Robert maintained a professional smile and a respectful attitude, and he couldn't tell at all that he was also one of the people Locke said wanted to fool him.

During the whole conversation, Tang Wei sat next to him and drank black tea, listening patiently, as if he wanted to learn something from it.

With Locke's permission, Mr. Robert contacted Sky Fund, and Rock stayed in his office for another twenty minutes before leaving and heading to the Sky Fund building.

The Sky Foundation's office space is not large, about 150 square meters, and Mr. Andrew and the company's employees are waiting here.

Mr. Andrew looked to be in his fifties and meticulously dressed, but he could still see that he was tired, and he thought that the family situation had made him tired.

After greeting each other, Robert took the initiative to bargain with Andrew.

The content is nothing more than that assets such as desks and computers are not worth anything at all, that the lease of the office space is wasted and that it will shrink over time, and then there is the wages owed to employees.

In the end, he said that including stocks, he could only give a quotation of 850,000 US dollars, and asked Mr. Andrew to cooperate with the transfer procedures.

Probably desperate to sell the company, Mr. Andrew agreed to the price after a brief bargain.

The purchase price was paid in three installments, the first installment of 100,000 yuan, and another 200,000 yuan after the transfer, and the remaining 550,000 yuan will not arrive until one month after the transfer of ownership of the company.

Take advantage of this time, you need to pass the audit of the accounting company to ensure that the company does not have liabilities and other problems other than the information provided by Andrew.