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No matter at any time, opportunities are always reserved for those who are prepared.
On September 15, 2008, Royal Family Fund announced the acquisition of Bank of Merrill Lynch, the third largest investment bank in the United States, defeating its competitor, Bank of America, and completing the acquisition worth US$50 billion.
After the completion of the acquisition, Bank of Merrill Lynch will serve as an independent financial institution under the Royal Family Fund to provide a full range of retail brokerage and securities investment banking counseling services for the consortium companies, which is different from the original plan.
The reason is that John Thain, the chairman of Bank of Merrill Lynch, insisted that Wang Yaocheng resolutely gave up the plan to merge with HSBC and chose to let it operate independently because of the Bank of America that was eyeing him.
The two parties reached a consensus on this, which also paved the way for the eventual merger.
The reason why the Royal Family Fund was able to defeat the Bank of America and finally entered the Bank of Merrill Lynch was because the options provided by the Royal Family Fund were more attractive. In the eyes of this financial crisis storm where cash is king, very few can spend 50 billion US dollars at a time .
This obviously does not include the Bank of America. The Bank of America planned to complete the transaction through a share swap, but was rejected in the end.
September 16, 2008
The Royal Family Fund announced that it will take over Goldman Sachs for US$8 billion. This move has further strengthened people's confidence in coping with the financial crisis.
? On the same day, HSBC announced that it would buy Washington Mutual Bank for US$1.9 billion and bear its losses of US$77.5 billion, taking over the entirety of the largest mortgage bank in the United States.
Buying and buying in the open market, in addition to these large-scale mergers and acquisitions, there have been hundreds of mergers and acquisitions of no more than 1 billion US dollars in consortium companies, and companies have taken actions to make up for the lack of their own industrial chains.
? Use the company's own funds and HSBC loans to create a whirlwind of mergers and acquisitions in the world market.
In just 20 days, the Royal Family Fund invested more than 200 billion U.S. dollars again, which greatly reduced the cash reserves of the consortium, which was already below the scale of 100 billion U.S. dollars.
October 11
HSBC announced the acquisition of Wachovia Bank at a price of 31 billion U.S. dollars to improve HSBC's layout in North America.
The Viking Building near New York's Central Park
A large group of protesters holding placards, thousands of people, stood on the street at the entrance of the building and shouted slogans.
Most of them are unemployed employees of Bank of Merrill Lynch, and some are former employees of the New York branch of Washington Mutual Bank. Under the building, there are signs saying that they want work and relief.
The lights of more than a dozen police cars under the building flashed, but they were only to maintain order and prevent the demonstrators from attacking, and there was nothing else they could do.
It was already the second day, and the owners of the Viking Building were very dissatisfied with this, thinking that the crowd had affected their normal life, so they gathered to ask for an explanation.
In the lobby on the first floor
He Chen is surrounded by more than 30 owners of the Viking Mansion. Those who can live here are either rich or expensive, and the worst is a famous doctor who runs an independent clinic.
"OK, I already understand everyone's appeal very well. This is actually just a small problem, and it is very simple to solve."
"We know that the boss king has plenty of money, but all we need is a quiet life."
"We can't go out, our children are stuck at home and can't go to school, and I can't go to my clinic, what should we do?"
"It is easy for you, but it is a big trouble for us."
"Yeah, everything sucks."
He Chen pressed down with his hand, stopped everyone's chaotic speech, and said sincerely: "Please be quiet, everyone, and let me tell you about the solution, okay?"
"Okay, then listen to what you have to say."
"Just end this, damn it."
He Chen continued: "Knowing that there are lawyers, artists, government officials and navy chiefs here, this is a regrettable demonstration, and we attach great importance to it.
But the problem is:
Before we took over the above-mentioned enterprises, these personnel had already signed a contract to terminate the labor relationship with the former bankrupt bank, and received relevant n+3 economic compensation, all in line with the laws of the United States.
After we took over, the demands of the unemployed have exceeded the scope of legal obligations, and we will never agree to this.
This is a matter of principle. The consortium has millions of employees all over the world. If they do this, the world will be in chaos.
Therefore, out of humanitarian considerations, the consortium will give a certain degree of help, including counseling for re-employment, andThe enthusiasm was boiling, which put tremendous pressure on the federal government. The decisive move of the Royal Family Fund at this time undoubtedly solved a big problem.
However, for the entire financial crisis that has spread throughout the world, this little money from the royal family fund is no different from a drop in the bucket, and it is not sustainable.
?People feel confused and disappointed about the future. The wealth they have worked hard for most of their lives has been wiped out in the financial crisis. Many retired old people have to go back to work to save pension money for themselves.
This kind of repressed anger will lay the groundwork for the subsequent large-scale Occupy Wall Street parade.
What the consortium can do is to do everything possible to promote news reports and public opinion, interpret the consortium's M&A activities from a positive perspective, and establish a positive image.
"What a fucking delay!"
Wang Yaocheng stood in front of the floor-to-ceiling windows on the top of the building, silently watching the dense crowd of demonstrators downstairs. This time, he was blocked by demonstrators within two days after flying to the east coast of the United States.
Going is definitely not going to go, you must face it head-on.
Otherwise, all kinds of weird interpretations will come out, such as fleeing in a hurry in the face of the demands of justice from the masses, black-hearted capitalists trying to evade the response, and capitalists unwilling to respond positively because they have ulterior motives
Speeches like this cannot be eradicated at all, and may even incite racial sentiments, which on the contrary complicates things and makes it more difficult to solve them.
These specific affairs are naturally dealt with by relevant personnel, but as the big boss behind the scenes, Wang Yaocheng must sit here, can't go anywhere, can't do anything, and can only wait for the final resolution of the matter. (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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