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"Let's get down to business. Through Goldman Sachs, Red Hat has expressed interest in taking a stake in the Playboy Group. After a few rounds of initial contacts and consultations with all parties, I feel the need to sit down and talk about it. Let's talk."
Mr. Merck gave a detailed introduction to everyone sitting here;
"Mr. Pierce, the chairman and major shareholder of the British Trust Savings Bank, the second largest shareholder of the Playboy Group, holds 17% of the company's real estate nightclub and other properties, and holds 22% of the Playboy brand.
Mr. Madoff, the chairman of Madoff Company, participated in private closed-door negotiations on behalf of small and medium-sized investors who hold 36% of the equity of the Playboy Group property and 31% of the equity of the Playboy brand.
Ms. Christie Hefner, on behalf of the founder of the group, Hugh Hefner, holds 41% of the Playboy Group property, 35% of the Playboy brand, and 100% of the Playboy magazine. "
After listening to the introduction, Ms. Christie Hefner first stated;
"According to my father's wishes, Playboy magazine is his passion and is not for sale. We can only talk about the other two asset acquisitions."
As soon as this remark came out, the other two representatives of major shareholders were in an uproar, and their faces suddenly became gloomy.
They are worried that this will affect the perception of Red Hat and reduce the value of other properties, which will have a great negative impact on the proposed merger and spoil the acquisition transaction.
"In the previous contact, Ms. Christie did not mention this matter. I think there should be an explanation for this board of directors. What will our partners think?"
"Strongly opposed, this will make the Playboy Group less attractive, severely shrink the valuation, and damage the rights and interests of other shareholders."
"I think this should require a vote of the board of directors, rather than making such an irrational decision without authorization."
"agree."
Ms. Christie Hefner tasted champagne leisurely, turning a blind eye to the anger of the company's two major shareholders, and even disdain to refute.
In the Playboy Group's asset basket, there are real estate and nightclub properties, the Playboy brand and "Playboy" magazine. The total value is about 800 million U.S. dollars.
Among them, "Playboy" magazine is 100% owned by the founder Hugh Hefner, and has absolute authority that no one else can compare!
"Gentlemen, let us calm down."
As an experienced M&A consultant, Mr. Merck, a partner of Goldman Sachs, is very familiar with such a scene. There is no M&A that is not due to a conflict of interests. This requires clever M&A consultants to be peacemakers.
It is the basic skill of an investment bank manager to eliminate differences, seek common ground while reserving differences, and jointly promote the smooth progress of mergers and acquisitions.
"Ms. Christie, is it possible for Mr. Hugh Hefner to back down from his position?"
"No, absolutely impossible." Ms. Christie Hefner replied firmly.
? After receiving a clear answer, Mr. Merck spread his hands to Mr. Pierce and Mr. Madoff, who had gloomy faces, and said;
"We cannot influence Mr. Hugh Hefner's position, which means that in order to reach a deal, the company's shareholders must make concessions and re-evaluate the company's valuation.
Without Playboy magazine, the group property is just an ordinary real estate transaction. Stripping off the brand premium, it can only be calculated according to the market valuation. Although this is a bit cruel, it is the truth.
In the same way, without the golden halo of "Playboy" magazine, the valuation of the Playboy brand will also shrink. I hope you will quote carefully. "
As soon as these words came out, the room fell into an awkward silence.
a moment later
After exchanging opinions privately, Mr. Madoff said dryly; "We can agree to a 15% depreciation. You must know that "Playboy" magazine continues to lose money, and it is not a good asset. This is already the biggest concession."
Wang Yaocheng tasted the champagne leisurely, without any intention of talking.
? As a consultant for corporate mergers and acquisitions, Goldman Sachs is naturally responsible for these verbal negotiations.
There is no need for Wang Yaocheng to go into battle shirtless, he only needs to nod his head in agreement at the end, and then sign the contract, that's all.
"hey-hey¡¡"
?Mr. Merck is not a good friend, and haggling with a knife will definitely make the other party feel heartbroken, and it has the magical effect of killing without blood.
"I'm afraid Mr. Madoff has forgotten, what is the foundation of the Playboy Group?The company's operations were in trouble, and it suffered continuous losses of tens of millions of pounds year after year.
?In addition to the economic downturn, the property purchased during the economic boom has a heavy burden, and a large amount of personnel expenses and brand promotion expenses are like a broken ship with leaks everywhere, and it is difficult to sink.
After finally finding an interested faucet, Mr. Hugh Hefner, the founder of the group company, was unwilling to sell the "Playboy" magazine, which tantamount to taking away the soul and brand aura of the group.
Facing Goldman Sachs' fierce price reduction, the three major shareholders are unwilling to vomit blood and sell property and heavy assets.
This time, the investor Wang Yaocheng was really dissatisfied and directly rejected the transaction of property assets.
Now on the shelves, there is only one brand licensing deal left. If it is rejected again, this acquisition deal can be announced as yellow soup, which will definitely arouse the disgust of Goldman Sachs.
If you want to sell assets in the future, it will not be easy. The attitude during the negotiation is neither correct nor professional. Who rarely wants to play with you?
From the perspective of Wang Yaocheng;
"Playboy" magazine and the property of the group company are not things he is interested in. He is not willing to run nightclubs and real estate properties. He regards Mr. Hugh Hefner as a treasure, and "Playboy" magazine, which is a symbol of American culture, is even more irrelevant. like.
An erotic magazine, if you can, don't touch it or don't touch it.
The only target I am interested in is the Playboy brand. I am lucky to have it, but I am lost. I don¡¯t have a strong will to win it.
Behind this light luxury brand stands tens of billions of wealth. It is a very cost-effective investment that you can eat your stomach with only one brand authorization.
The opportunity for the Playboy brand to regain its life lies in the mainland market a few years later, but now there is no hope at all.
"Ahem, since the Boss King has made an unchangeable decision, let's talk about the Playboy brand again."
"Ahem, let me interject." Wang Yaocheng coughed twice after Mr. Merck had spoken, and said; "I came with sincerity and a check, hoping to resolve this merger quickly. The party is not over yet, and there is still time to talk to Talk to other friends, Citibank gave me a credit line of 1 billion US dollars, as long as the transaction is concluded, I can sign a check at any time, and if the amount is not large, it is enough to hold cash, so my words are over."
As soon as this remark came out, everyone present looked at Wang Yaocheng's youthful and sunny face with envious eyes;
You big local tyrant is so inhumane.
Being able to sign checks worth less than US$1 billion at any time is just so arrogant, so bullish that he has no friends. (Remember the site URL: www.hlnovel.com - Didn't finish reading? Add this book to your favoritesI'm a member and bookmarked this chapterCopy the address of this book and recommend it to your friends for pointsChapter error? Click here to report
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