Reborn Capital Madman

Malicious acquisitions have emerged in the 1970s and are now popular in the 1980s. They have performed countless bloody storms, and Ronald Perelman, who is only two years older than Gao Xian, is quite a lot of them.

One of the capital players with record.

It is necessary to point out that Ronald Perelman is not from a grassroots background. The Perelman family is very rich, runs American paper products companies, and has a close relationship with the University of Pennsylvania. To put it bluntly, he has donated money to the University of Pennsylvania.

Ronald Perelman and younger brother Jeffrey Perelman, as well as their father Raymond Perelman, both graduated from Wharton.

In the 1960s when Gulf Western Industrial Corporation was operating in a large-scale diversified manner, Raymond Perelman was not left behind and acquired the largest steel plant in the Northeast of the United States, mainly providing structural steel for the construction industry.

Steel plant, which eventually evolved into Belmont Industrial Company.

After graduating from Wharton, Ronald Perelman joined Belmont Industrial Company to assist his father Raymond Perelman in expanding territory and making great achievements, such as purchasing for $800,000

After selling Eslinger Brewery three years later, it made a net profit of one million dollars.

In 1978, Ronald Perelman officially joined Belmont Industries for twelve years and achieved the position of vice president. To be honest, the promotion seems to be really not enough. Ronald

Perelman also thought so, so he fought for greater power. As a result, Raymond Perelman said that I didn’t plan to step down so early and give you a place for an unfilial son.

In this way, the strange father and son turned against each other. Ronald Perelman left Belmont Industries and built another diversified holding company, McAndrews Forbes, similar to Buffett's Berkshire Hathaway

, Gaoxian Bay Western Holdings, Gaoxing Holdings, Landmark.

Of course, Ronald Perelman's reputation is not as good as Buffett on the US border. Because of an obvious reason, companies targeted by malicious acquisitions often fight hard, as for the balance of victory or defeat.

Which side you are heading depends on who mobilizes more resources.

This not only competes with who has more money, but also includes game scenes such as legal litigation, corporate governance struggles, etc.

After Ronald Perelman acquired the company, he will carry out drastic reforms and sell his unprofitable departments to reduce debt and increase profits. If the core business is profitable, he will not be reluctant to do so.

Selling the land, just like he was operating the strategy of Eslinger Brewery before he graduated from Wharton.

In short, layoffs and splits are all cold numbers on the books in the eyes of capital, and the final result is only one, profit!

You can think about it and know that Ronald Perelman's gameplay, a Fortune 500 company like Gillette, is not a buyer at all.

In particular, Ronald Perelman's capital operations rely heavily on the infamous junk bonds that have a rapid development momentum to raise funds.

In the future of further over-financing, junk bonds have transformed into high-yield bonds and can still be at the forefront of elegance, but the mainstream is still difficult to accept now.

Fortune 500 companies will instinctively sneer at malicious acquisitions of leverage and junk bonds.

This is the difference in strength between Ronald Perelman and Sir Gao!

When Gao Xian gave the conditions, Ronald Perelman didn't think much about it and agreed. The United Carbide Company's muddy waters will not be wade through, and they will snipe those, snipe the United Carbide Company.

Anyway, the company is using its own strengths.

...

I have to admit that once Ronald Perelman dances, the effect is surprisingly good, and the scene is suddenly overwhelming. Many competitors who are eager to sharpen their knives at the United Carbide Company are worried about themselves.

The mantis stalked the cicada and the oriole were trapped in the back ground and then fell into a tangle, which just gave Bay West more negotiation time.

Gao Xian's judgment is very accurate. The idea of ​​breaking the fortress from the United Carbide Company is quite effective. The directors and shareholders of United Carbide Company, which the Gulf Western Company has contacted, have learned about Gulf Western Company's battery business.

After the layout, almost all showed great interest. Selling the battery business of the United Carbide Company to the Gulf Western Company will not only be in line with immediate interests, but also take into account long-term plans.

As for the attitude of the management of United Carbide, it is quite subtle. From the results of the CEO of Gulf West, Ronald Zegler, who visited Warren Anderson, the executive of United Carbide, you can see that

come out.

Warren Anderson, who "escaped" back to the United States from Assassin, has never been idle and racked his brains to save himself. It must be admitted that there are still some results.

After all, the comparison between A San and Midi's strength is obvious. A San's official mansion hires a US lawyer to sue in the American judicial system, and follows Midi's rules, which may not lead to ideal results.

The US lawyers invited by the United Carbide Company have agreed to the US$350 million settlement proposed by the United States United Carbide Company, but because everyone knows the pressure and reasons, the US official did not agree and still bite the

A claim of $3.3 billion is OK.

Ronald Zegler, who has been in the White House, does not have less game skills. During the conversation, he seemed to ask casually, "Anderson, you are about to retire."

Yes, Warren Anderson nodded, and then both sides fell into a brief silence.

Warren Anderson was born in 1921 and was about to be sixty-five years old. In a company that was not a family-rich company, this was the last stunning executive retirement.

He must consider practical issues, how will the board of directors of the United Carbide Company fulfill its retirement benefits? Will the San Zhengfu take himself as a criminal and arrest him? No matter which one is considered a matter of life and death.

If Warren Anderson, as the leader of the management of the United Carbide Company, would yell that the United Carbide Company would never break up. It would be impossible to say how many people could please, but it would definitely offend many people.

After thinking for a while, Warren Anderson made a statement that as long as the directors and shareholders did not object, the management would be happy to see that Gulf Western Company acquired the battery business of the United Carbide Company.

Seeing that Ronald Zegler just smiled slightly, picked up the coffee cup, and took a sip slowly, Warren Anderson quickly added that of course, the management would also actively promote the related work.

Ronald Zegler nodded. I believe that the directors and shareholders of United Carbide Company still recognize your work. By the way, how much does it think the acquisition amount is appropriate?

Warren Anderson thought for a moment, $1.4 billion should be a reasonable number.

Ronald Zegler refused to comment and asked, how much cash is needed? Is it easy to deal with on the books?

Warren Anderson carefully looked at Ronald Zegler's expression and answered meaningfully. From the perspective of management, it is definitely not convenient to earn too much cash at once.

Ronald Zegler then showed a bit of satisfaction and continued to bargain.

...

When Gao Xian received the report, the result was that United Carbide, the United States sold its battery business to Gulf West, which paid the former $1.2 billion by stock and cash.

With this transaction, the US United Carbide Company's assets of over 10 billion US dollars were reduced by 20% at once. As a heavy asset enterprise group, the US United Carbide Company inevitably has some equipment aging and goodwill reduction.

Value, maturing debts and other things need to be processed. In short, everyone just makes their financial statements unexposed.

Of course, Warren Anderson has pleased many forces, which is enough to ensure his retirement life.

Gao Xian is not dissatisfied with this achievement. From the perspective of Gao Yi, which has shorted the United Carbide Company, Gulf Western Company's acquisition of the United Carbide Company's battery business is almost a waste of time.

When Ronald Perelman saw that Bay West had succeeded, he couldn't wait to contact Gao Xian. So, Sir Gao, when will you repay the favor you owe to me?

Gao Xian said righteously, "You go and ask casually when my credit will expire?" As long as you take action, Gao Yi and the United States will cooperate."

What happened next is a bit far on this timeline, so I will just briefly introduce it first.

With the assist from the "regular army" Gao Yi United States, Ronald Perelman launched the first attack on Gillette. He proposed to acquire Gillette for 3.8 billion US dollars.

86:1 shares.

As Gao Yimian analyzed in advance, Gillette hated Ronald Perelman very much and neatly rejected the acquisition proposal.

How could Ronald Perelman be so easy to dismiss? I already hold nearly 20% of Gillette's stock and hand over the board seat.

Gillette is really afraid of Ronald Perelman's desperate beating, because, a proposal for Ronald Perelman's acquisition has indeed increased Gillette's valuation, which is very difficult.

Make sure no one on his side has any arbitrage; secondly, Ronald Perelman's notorious name as a "bone removal expert" is indeed very deterrent.

So, Gillette took a step back and was willing to pay more than 800 million US dollars to buy back the Gillette stocks held by Ronald Perelman. As for the board seats, naturally, don't worry about them. You are not welcomed by us.

, go and have fun.

Gillette's tricks really put Ronald Perelman in one's army. After all, some simple rules are universal. Gillette is already giving face to you, Ronald Perelman.

If you give me a shame, it will be hard to say what's next.

Ronald Perelman asked Gao Yi for the opinions of the United States in disappointment. William Miller's attitude was very clear. Don't chase the enemy. The rabbit will bite people if it is anxious. Since Gillette is willing to buy back those at a high price.

We made a fortune in stocks and paid a penny, which was pretty good.

Sir Gao also said that if you are still unwilling to give up, then you will find another chance to snipe in the future.

So, Ronald Perelman's first attack on Gillette was over, and Sir Gao's favor was repaid.