Chapter 900: A Sensational Acquisition

The second working day after the Beginning of Autumn, August 12th, Tuesday, today is the busiest day since the establishment of NEXTDOOR.

Feng Yiping didn't want to talk about the ostentation, so he arranged the press conference in a small building of the company. Mike was leading a group of people downstairs to check all the preparations. Upstairs, Feng Yiping, Jin Ling , Buchanan, and Zhou Xinyu are chatting with the shareholders and management of Coin Star.

Yesterday, August 11th, NEXTDOOR signed an acquisition agreement with Coinstar. To a certain extent, it can be said that the two parties are already a family—except for those directors on the board of Coinstar who do not serve in the company.

Feng Yiping is very satisfied with the work of the former management of Coin Star, and after listening to Feng Yiping's plans and arrangements for the future, the management is also very satisfied with the company's future development prospects, and most of the executives decided to stay.

Of course, although their positions will not be changed for the time being, because Merbaker is still the CEO, future adjustments will definitely be necessary, such as key positions such as CFO.

Although they had changed owners, these executives were as excited as Zheng Jiayi who came here on the first day. They also yearned and looked forward to the new chapter that was about to be opened.

"It seems that this kind of mental state only existed 2,000 years ago," Merback said, looking at those people who had followed him since the beginning of their business.

"Thank you Feng, thank you for letting them and me rekindle the passion for entrepreneurship,"

"No, Merbaker, it should be me who wants to thank you. If it weren't for your support, the acquisition work would not have been so fast and smooth,"

This time, we were able to negotiate an acquisition instead of being forced to make a public mandatory tender offer, that is, a hostile acquisition. As the founder and CEO of the company, Merbark played a very important role in this process.

He is less than 35 years old this year, and all aspects are at the peak period. However, after the rapid development in the first few years of his business, since entering the new century, like many companies, the development of the coin star he founded has fallen into a trap. Stagnation.

This is the career and goal that he has determined to strive for all his life, so he has been thinking hard about a new direction and way out, but he has not gained anything. After a whole day of communication and debate with Feng Yiping, Feng Yiping proposed Those actions made him admire, and the future described by Feng Yiping also made his heart skip a beat.

Since that day, he has been an active supporter of the acquisition plan. Of course, this has something to do with Feng Yiping's promise that he is still in charge of the company's specific operations and the company's name is still retained.

In short, this self-made billionaire who also came from a bitter background, under the influence of Feng Yiping, is looking forward to his second venture with great enthusiasm.

His exemplary role is crucial to Feng Yiping's next job as the management team of Coinstar.

The non-management shareholders of Coin Star have long been dissatisfied with the current situation and returns of Coin Star, and Feng Yiping's quotation provided them with an excellent opportunity to leave the market.

These two items directly and profoundly affected the next process. If not, Feng Yiping would have to launch a hostile takeover plan.

That will not only increase the cost of all aspects, but also have considerable risks, and this risk mainly comes from the local government.

Although the United States upholds the law of market freedom at the federal level to encourage and support mergers and acquisitions among enterprises, the local states are opposed to mergers and acquisitions, especially malicious mergers and acquisitions.

As the main executors of corporate laws in various states, the state courts have always sided with the acquired companies in the struggles of acquisitions and anti-acquisitions.

Their interpretation of the relevant takeover law through judicial precedents is often to take a very tolerant attitude towards the anti-takeover strategy of the acquired company, while the requirements for the company that initiates a hostile takeover are very strict.

This is actually a kind of local protectionism, because in the view of the state court, it is far more important to maintain the stable and continuous operation of local companies in the state and to protect the interests of management and employees who have inextricable social and economic ties with the state. The interests of the "Predators," "Seagulls," "Vultures," "Liars," and shareholders who don't know where to go to raid corporations in this state matter.

Therefore, Merbak's support and help saved Feng Yiping a lot of time cost, opportunity cost, and of course, capital cost.

"Fon, Merbacher," Buchanan walked over, "it's almost time, and the media has already entered the venue,"

He is very excited. As a striker, he also contributed a lot to this acquisition, and the acquisition of a NASDAQ listed company will also be another brilliant stroke in his career.

In order to make this moment more brilliant, he did not hesitate to mobilize all his connections, not to mention the major media on the west side, even the well-known media on the east side were all invited by him.

"Then let's go down?" Feng Yiping smiled and stood up.

"Please"

He and Murback walked side by side, Jin Ling followed behind, and behind them were the executives of the two companies.

The small hall downstairs was already crowded with journalists from all over the United States. Most of them didn't know exactly what kind of medicine Buchanan and NEXTDOOR sold in the gourd. Hot chat, speculation.

NEXTDOOR has developed rapidly and has expanded to Canada, and there are more and more functional sections on the website. What is the big news that Buchanan and the PR department are talking about?

Seeing Feng Yiping and Merbach coming hand in hand, some reporters who knew Merbach quickly had a guess, didn't they? What is the market value of Coinstar?

There were many reporters who had such conjectures. Immediately, the photojournalists began to take pictures frantically.

Buchanan walked up to the stage with a smile, "Distinguished guests, friends from the media industry, thank you for coming. Next, I would like to invite the founder and chairman of NEXTDOOR, Mr. Yiping, to announce to you a new project of the company. important move,"

This is the first time Feng Yiping, who is still popular in the United States this year, made his public appearance and speech in front of so many American media.

Many journalists felt that this trip was just right. Feng Yiping, a world-renowned scholar, the richest man in mainland China, and the idol of youth entrepreneurship in the world, made his public appearance as the founder and chairman of NEXTDOOR, which is currently a hot topic in the United States, for the first time. That's newsworthy.

"Guests, friends, thank you very much for your support to NEXTDOOR. First of all, I would like to introduce a friend to you. He is the founder and CEO of Coin Star, Mr. Murback,"

Merback stood in front of the stage, smiled and waved to the audience.

"After a period of in-depth contact and communication, BlueSeaOneLLC under NEXTDOOR,"

For the new company established in Delaware for acquisition, Feng Yiping used the name "Blue Ocean 1" without even thinking about it.

"Yesterday, we signed a merger agreement with Coin Star. After the merger, the name of Coin Star will not change, and the original 'CSTR' will still be used in Nasdaq. For details, please see later announcement issued, "

"Wow", the following immediately raised their hands and clapped their hands, "Feng", "Feng", the reporters were all shouting, wanting to ask questions.

"Andrew," Buchanan next to the Wall Street Journal reporter.

"Hi Mr. Feng, please tell me why you chose to cooperate with Coinstar? The main business of NEXTDOOR and the main business of Coinstar seem to have nothing in common,"

"The purpose of NEXTDOOR's establishment has always been to serve all our registered members. This is also the starting point of all our decisions. The acquisition of Coinstar is a measure we have taken to provide users with better services,"

Of course Feng Yiping couldn't tell the whole reason now, so he just said this reason.

The second opportunity to ask questions was given to Yahoo’s financial reporter. He asked Merback, “Why did Coin Star agree to the NEXTDOOR acquisition?”

"First of all, we believe that the two parties have many complementary aspects. Like NEXTDOOR, Coin Star also puts users first, and NEXTDOOR has more than 30 million registered users."

"Secondly, the current development of Coinstar has fallen into a bottleneck period, and Feng has given a good solution to the company's current situation. These solutions are very beneficial to users and all shareholders of the company, that is, to The development of the company is extremely favorable,”

"We have always believed that Mr. Feng will lead Coinstar to continue to move forward and reach another new height with his outstanding vision and ability,"

"Mr. Feng, the company you established this time is Blue Ocean 1, will there be Blue Ocean 2 after that?"

…………

Ten minutes later, Yahoo released the news before the paper media, "BlueSeaOne LLC, a subsidiary of NEXTDOOR, signed an acquisition agreement with CoinStar yesterday. The stock is priced at US$19.2, and this purchase price is 40.1% higher than the average share price of 13.62 in the past 40 days, "

Although the amount of this acquisition is not large, because this acquisition is connected with Feng Yiping and NEXTDOOR, which are very newsy in themselves, this news quickly became the headlines of major media and aroused the attention of many people. heated discussion.

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