Back To 1995: Chapter 843 don\'t follow the routine
Chapter 843 Not following the routine
Edgar Bronfman Jr.'s sudden decision caught the executives of the Bronfman Group by surprise, especially the veterans of the Bronfman Group, who were former Bronfman's subordinates, were a little anxious on the spot up.
The Bronfman Group, which was taken over by Edgar Jr., has been working on it for so many years. Seeing that his family's wealth is almost wiped out, the old Bronfman, who was left to Edgar Jr. before, can't sit still at this time. .
The old Bronfman also participated in the big merger between the Bronfman Group and ICQ, but what the old Bronfman asked was to take Universal Pictures, Universal Music, etc., which caused the Bronfman family to stumble. The property is all sold to ICQ, in exchange for cash, even if not all of it can be exchanged for cash, then part of the cash must be exchanged.
You know, little Edgar was a literary youth back then. He worked in a music company, but he didn't make a name for himself. In the end, he ran home in despair and took over tens of billions of dollars. The recording industry is soft spot.
But in the record industry where little Edgar considers himself an "insider", little Edgar has suffered so many losses, and little Edgar has not found out the depth of the water in the record industry.
The water of the Internet is deeper and more muddy than the water of the record industry. The old Bronfman was really afraid of little Edgar, so he couldn't grasp it, and involved the entire Bronfman family.
But little Edgar obviously didn't do what the old Bronfman asked, and even asked for a stock exchange with ICQ, not even a penny in cash!
Seeing the dispute with the Bronfman Group, Immelt "regretted" to temporarily terminate the negotiation. He hoped that the Bronfman Group could exchange shares with ICQ to complete the merger.
On the one hand, the US dollars in the accounts of General Electric and ICQ are really running out. Completing the merger and acquisition through equity exchange can save a lot of trouble and avoid a large amount of taxes.
On the other hand, Edgar Jr.'s entry into the ICQ board of directors is also beneficial to Immelt. It can become his ally and can also be used to attack ICQ veterans, Comcast Group, Telephone and Telegraph Group, etc.
Came to a lounge, and didn’t bother to check whether there was a bug or something installed in the room. The veteran of the Bronfman Group quarreled fiercely with little Edgar.
In the past, Wall Street's big transactions involving tens of billions of dollars could use any means, including buying the other party's executives, wiretapping, and putting pressure on the other party through powerful figures. After all, one of the Insignificant news may involve hundreds of millions or even billions of dollars!
"Little Edgar, you can't do this. The risk of all equity transactions is too great. The Bronfman family gambled everything!"
The veteran of the Bronfman Group tried hard to persuade little Edgar, but it sounded particularly harsh to Little Edgar's ears, as if he had completely defeated the Bronfman Group.
Looking at the veteran officials from the old Bronfman period in front of him, little Edgar felt disgusted for no reason. The old officials used to suppress him with their old qualifications, and the management of the companies acquired by Edgar , In order to fight for power and profit, there is no shortage of internal fighting, but at this time, they are holding old Bronfman's chicken feathers as arrows!
"The Bronfman Group spent too much money on the acquisition of Polygram and Universal, and it was too hasty to sell DuPont shares..."
The financial advisor of the Bronfman Group, who was also the old minister who was in charge of the money bag for the old Bronfman during the old Bronfman's time, couldn't help it at this time, and mentioned the "big clever" deal that little Edgar had made before.
It’s okay not to mention this, but when it comes to this, little Edgar immediately shouted angrily like a cat whose tail has been stepped on, “Before I made these transactions, I have already consulted my father. The transaction is beneficial to the Bronfman Group!
Damn, I just did what I should do. I sold DuPont shares at the most appropriate time, acquired Universal and Polygram, and protected the rights of the Bronfman family and all shareholders, but the market happened changed..."
After excused himself, little Edgar scolded, "Now I am the president of the Bronfman Group, and I have the right to make decisions. If you have any opinions, you can fly back to Canada and report to my father..."
After finishing speaking, little Edgar slammed the door out, followed by all his cronies, leaving behind a few veteran officials from the old Bronfman period, standing there helplessly, and finally had to leave first, to Canada Hurry up, they knew that it was impossible to stay with little Edgar.
"I'm sorry, there were some accidents just now. Now that the transaction continues, we should proceed according to my proposal just now, and use the equity exchange to complete this merger and acquisition!"
Little Edgar Bronfman said in a personable manner, it seems that everything just now was just a small accident.
Immelt nodded, and cast admiring glances at little Edgar, "ICQ can make a valuation of 34 billion US dollars for the Bronfman Group. If the transaction involves exchanging all the shares, the Bronfman Group can exchange for To 9% of ICQ equity!"
This price is not low. The most important industries under the Bronfman Group are mainly Universal Pictures, Universal Music, wine and other businesses. These businesses are all traditional industries and are not as popular as the Internet and technology industries. With a valuation of US$34 billion, Immelt is already raising the price for little Edgar.
Hearing the offer, Little Edgar also knew that the price was not low, but he still said unwillingly, "I hope, I can get 10% of the shares of ICQ Group!"
"impossible!"
Brian Roberts, who had been holding back for a long time, couldn't help but said first, "Bronfman Group can only get 9% of ICQ's equity at most, otherwise, I have the right to reject this transaction, which is unfair to other shareholders of ICQ !"
Brian Roberts has also figured out that the acquisition of Bronfman Group, Immelt is not only to build the so-called ICQ empire, but also to dilute Comcast Group, Goldman Sachs, Telephone and Telegraph Group, Song Yang, etc. equity in the hands of major shareholders.
Give the Bronfman family a 9% stake in ICQ, and Comcast's stake may shrink to 16%, making it even harder to compete with Immelt!
“Goldman Sachs Backs President Brian Roberts!”
Pellet Greene also stated that Goldman Sachs naturally cannot sit still if they know Immelt and want to dilute their holdings.
After Goldman Sachs, the Deutsche Bank investment bank represented by Anshu Jain, as well as the representatives of Telephone and Telegraph Group, Enron and other companies, also stood in line with Brian Roberts, unwilling to give the Bronfman family more ICQ shares!
Immelt looked around the meeting room and saw that only Song Yang was sitting on the Diaoyutai over there, neither supporting nor opposing, as if these things had nothing to do with Song Yang.
Sighing, Immelt sighed a little. It would be great if ICQ's board of directors were like Song Yang, and if it didn't add to Immelt's obstacles, then Immelt wouldn't have to waste these things.
"President Edgar, this is ICQ's final offer, 9% of ICQ's equity, in exchange for Bronfman Group's joining!"
Immelt doesn't want to fall out with Comcast and other shareholders now, and there will be opportunities to deal with them in the future.
Edgar Bronfman Jr. thought about it for a while. After the completion of the merger, the Bronfman family became the fourth largest shareholder of ICQ, second only to General Electric's 30%, Comcast Group's 16%, and The third largest shareholder, Song Yang, holds 10%. If he can buy a part of the shares from the market, then Edgar Bronfman Jr. feels that he can surpass Song Yang and become the third largest shareholder of ICQ!
After thinking about it for a while, Edgar Bronfman Jr. nodded and agreed to the deal, and he would receive the news in no time. It was just a matter of time, and applause erupted in the meeting room.
"Welcome to ICQ, Director Edgar!
I propose that Edgar Bronfman enter the board of directors of ICQ as the vice president of ICQ, in charge of ICQ's entertainment business! "
Immelt said loudly, as soon as he came up, let little Edgar enter the power level of ICQ, let little Edgar give birth to the feeling that he will share ICQ with Immelt.
Little Edgar accepted the applause reservedly. When he glanced at Song Yang, he saw that Song Yang was applauding with a smile on his face, which made little Edgar feel a little uncomfortable for no reason.
(end of this chapter)