Chapter 951 Too Many Bad Things

This night, Li Dong showed his might.

Yuan Xue, who tasted the forbidden fruit for the first time, slept until noon the next day before opening her eyes in a daze.

Looking at the unfamiliar ceiling, Yuan Xue woke up instantly.

The scenes that happened last night flashed clearly in my mind.

The complexion changed for a while, Yuan Xue turned her head and looked at her side.

There was no one beside her, and Yuan Xue's expression couldn't help but change.

After a while, the bathroom door was pushed open, and Li Dong came out wrapped in a towel.

Seeing Yuan Xue woke up, Li Dong immediately said with a smile on his face: "Are you awake? Are you hungry? I asked the hotel to cook some meat porridge. It will be ready later."

Seeing him, Yuan Xue breathed a sigh of relief, but at the same time, she thought that this guy had forced her to take herself last night, so she immediately turned ugly and said, "You haven't left yet!"

Li Dong hurriedly said: "How can you, don't you have limited mobility, I have to stay and take care of you."

"hypocritical!"

Yuan Xue snorted and ignored him.

What happened last night, she didn't drink, she knew it all.

The bed was already on, and I agreed with half-pushing, no matter how hypocritical it is at this time.

Just when she wanted to get up and put on her clothes, Yuan Xuexiu frowned slightly because she felt a little uncomfortable.

Seeing this, Li Dong hurried forward and said: "Lie down for a while, and get up after eating."

"what time is it?"

"It's a little past 12 o'clock."

"Help me get the clothes." Yuan Xue heard that it was already afternoon, and her clothes were thrown all over the floor, so she couldn't help directing Li Dong.

Seeing her insistence, Li Dong had no choice but to help bring all the clothes.

Just as Yuan Xue was about to get dressed, she looked at him after thinking about it and said, "Go to the bathroom, I'll get dressed!"

Li Dong said with a dry smile: "No need, we are already like this..."

That's what he said,

After speaking, everyone was about to leave, but Yuan Xue didn't tell him to leave, and put on her clothes on her own.

Looking at the half-covered naked beauty in front of him, Li Dong felt a little parched.

But at this time, Li Dong just thought about it. Yuan Xue was tortured enough last night, and he might not be able to bear it again.

...

Get dressed and take a quick shower.

Yuan Xue didn't talk to Li Dong either, she picked up her satchel and was about to leave.

Li Dong quickly blocked her and said, "Where are you going?"

Yuan Xue frowned and said, "Go to the company, it's already afternoon."

"What company are you still going to now? It's not that I can't afford you. Please take a few days off first, then quit your job and go back to Jiangbei with me..."

Before he finished speaking, Yuan Xue stared at him and said, "Li Dong, don't think that you slept with me, I will rely on you for the rest of my life.

I'm not your vassal, and I don't need you to support me. "

Li Dong quickly explained: "I didn't mean that."

"Whether it is or not, anyway, don't think too much about it!" Yuan Xue snorted softly: "Last night, I thought I was venting, anyway, I paid the room fee, so I just pretended to cover you for a night, so now the two of us Cleared."

The corner of Li Dong's mouth twitched, what did you say?

Besides, you are alone, what a fart.

Just as she was about to speak, Yuan Xue continued: "Don't say anything, let me calm down first, don't come to me these few days, I still haven't figured out some things, I'll contact you when I figure it out."

Li Dong pondered for a while and said, "You won't avoid me again, will you?"

Yuan Xue glanced at him and said, "You are so awesome now, can I hide?"

Without giving him another chance to speak, Yuan Xue went straight outside.

Seeing this, Li Dong hurriedly followed.

After leaving the hotel, Yuan Xue hails a taxi, Li Dong is about to get in the car, Yuan Xue turns around and says, "Don't follow me, I'm not that fragile. As I said, I want to calm down now, you follow me, I'm upset. "

Li Dong looked awkward, seeing her resolute attitude, thought for a while and said: "I live in room 3608 of the Four Seasons Hotel, and I will be in Shanghai for a few days, and my phone number is still the same as before, remember to call me.

By the way, you changed your number, what's your number now?

Also, I'd better take a few days off when I go back, I'll see you after I finish my work..."

While Li Dong was talking, Yuan Xue had already gotten into the car, and when he finished speaking, Yuan Xue said "Got it" and left directly.

Seeing her walking freely, Li Dong looked troubled instead.

He originally thought that if things were not done well today, there would be a scene of crying, fussing, and hanging himself, and Yuan Xue would definitely talk about Qin Yuhan if it didn't help.

As a result, Yuan Xue didn't say anything, and she was calmer than Li Dong, which made Li Dong feel very hurt.

Just when he was struggling, Tan Yong appeared behind him without anyone noticing, and said in a low voice: "President Li, I have already found out Miss Yuan's address.

In addition, President Chen and Secretary Bai both called in the morning, saying that Carrefour's plan came out. "

Li Dong nodded slightly, and watched the taxi disappear before he said: "Go back, let's talk about it after finishing our work."

"good."

...

May 8th.

Li Dong and Du Lan met again.

The two sides talked about the acquisition in general, but haven't talked about specific things.

Dulan is a businessman, and a businessman will not make a wrong choice just because of a moment of anger. He didn't refuse to negotiate with Yuanfang because of Li Dong's disturbance last time.

Du Lan is still happy to see Yuanfang participating in this merger and acquisition.

However, Duran also made a request that Carrefour will only accept the overall merger plan for this merger.

In other words, Carrefour will be packaged and sold as a whole, and Li Dong's previous plan to acquire some stores has been completely aborted.

If you want to win Carrefour, you must include those stores that overlap with distant places.

Carrefour is not stupid. They pick and choose for you. They pick out all the stores with good locations. What about the rest?

If we don't talk, we have to talk together.

This is the basic requirement. Only when the basic requirement is agreed, can the next step be followed, otherwise Yuanfang can quit directly.

After talking with Dulan, Li Dong left the Carrefour headquarters.

In the car, Li Dong rubbed his temples, and asked Chen Lang: "Mr. Chen, please give me an estimate. If Carrefour is sold as a whole, what is the estimated valuation?"

Chen Lang is a well-known king of mergers and acquisitions in the industry, and he knows more about valuation than Li Dong and the others.

Li Dong made an estimate with Sun Tao and the others in Pingchuan before, but at that time Li Dong thought that it would be enough to win about 80 stores.

The total value is about 8 billion, but that was estimated by Li Dong and the others themselves.

If you really want to talk about it, you have to find a professional organization to evaluate it.

For a merger involving such a large amount, both parties will ask a third-party agency to conduct an evaluation.

When Li Dong asked, Chen Lang didn't panic. Long before Li Dong came to the Shanghai stock market, Chen Lang had made a plan.

After organizing his words, Chen Lang said slowly: "Such a large-scale retail merger and acquisition has happened once in China before.

When Wal-Mart merged with Mart last year, it was similar to ours this time.

At that time, Trust-Mart had an appraised value of about RMB 8.5 billion.

At that time, Trust-Mart's annual sales were 13.2 billion, and general evaluation agencies conducted evaluations and adopted three schemes.

Market value method, income method, discounted cash flow method.

The discounted cash flow method is the simplest method of valuation. It is estimated through a series of data such as annual sales, annual sales growth rate, sales profit rate, income tax rate, and fixed asset growth rate.

If we use this method to calculate, the annual sales of Carrefour last year was 29.6 billion, with an annual growth rate of 12.5%, and a sales profit margin of 15%..."

Chen Lang listed a lot of data. Although Li Dong felt a little headache listening, he didn't interrupt.

Some things must be understood.

Moreover, Chen Lang only gave a brief introduction, so it's good to hear a rough idea.

After talking briefly for a while, Chen Lang finally said: "If the evaluation is carried out according to this plan, the total value of Carrefour now reaches 16 billion."

Li Dong frowned and said, "It's not that tall, is it?"

Chen Lang said with a smile: "President Li, don't worry, I said, this is Carrefour before, but it's different now.

And we don't need the Carrefour brand this time. Also, Carrefour has been in China for 13 years, and the leases of many stores are about to expire.

At this time, the value will drop sharply.

Aside from these factors, the estimated value should be around 12 billion. "

"12 billion!"

Li Dong has a toothache. Everyone thought that 8 billion was worthless, let alone 12 billion.

Although Chen Lang's valuation is not the value given by professional institutions, Chen Lang has made many merger and acquisition plans, even if there is a gap, it should not be too big.

12 billion is too much, and Li Dong can't accept it.

Not to mention him, at this time, I am afraid that few companies in China can accept it.

Among the five companies shortlisted this time, except for Tesco and China Resources, it is almost impossible for Intime and Bailian to come up with tens of billions of funds.

Of course, the same is true here in the distance, more than 10 billion will definitely not be available.

Unless Li Dong is willing to invest all the money in the stock market, it will not be enough.

Seeing Li Dong frown, Chen Lang said with a smile: "But don't worry, Mr. Li, even if it's really worth so much, the money is not given out all at once.

We can refer to Wal-Mart's plan to acquire Trust-Mart and acquire about 30% of Carrefour's shares first.

For the remaining 70%, we can operate for three years, and then decide whether to buy or exit after looking at the performance.

On this point, I think Carrefour should agree. A large-scale merger and acquisition plan is the safest and least risky.

Of course, joint ventures are also possible in practice, but we won't discuss them now.

If we only acquire 30% of the shares, we will pay about 3.6 billion in cash in the first phase, or even less. "

Li Dong also knew this, but Li Dong rarely used this plan.

In the past, Yuanfang's mergers and acquisitions were all open and closed, and they were directly wholly owned.

It's not that Li Dong has too much money to spend, the main reason is that wholly-owned mergers and acquisitions are easy to integrate resources and can quickly form combat effectiveness.

However, according to the situation of Wal-Mart’s relationship with Haomartuo, Yuanfang only took part of the shares in the early stage, which is equivalent to a joint venture, and it also gave Carrefour a chance to make a comeback.

In addition, it has not reached the level of holding, and it is not easy to integrate resources in the distance. In short, it is very troublesome.

Of course, in this way, the risk in the distance will be much smaller.

But in fact, for Li Dong, he knows better than others whether there are risks or not.

If it really takes three years of operation, then it will be too late to reintegrate.

It took only 11 years to integrate the Carrefour stores, good guy, the impact of e-commerce has just arrived, so Li Dong must die of depression.

Slightly exhaling, Li Dong said: "What about the plan, it's not yet time, so let's submit the plan to Carrefour first.

In addition, find a third party for evaluation, and by the way, check the value of Carrefour's own evaluation. "

Chen Lang responded, "That's fine, I'll arrange it right away. If it's a third party, let's go to UBS Investment Bank. The evaluation from Switzerland should be fair and accurate.

By the way, Mr. Li, when are you going back to Jiangbei? "

"Just for a few days, I will leave it to you for the time being."

Mergers and acquisitions are not a matter of a day or two. It takes at least a month to review and evaluate the preliminary plan.

When it comes to money, it will probably have to wait for the second half of the year.

Now Li Dong has a lot of things on hand, and it will be May 12 soon.

Li Dong is not at ease if he is not in Jiangbei.

Before the 12th, he must be going back to Jiangbei.

Then Li Dong thought of Yuan Xue again. This woman hasn't called him since she went back, and she doesn't know what she's thinking.

If she doesn't come, she must go and have a look before she leaves.

Time was running out, and Li Dong didn't care about letting her calm down at this time.

Thinking about something, the car stopped at the entrance of the hotel.

As soon as Li Dong got off the car, Bai Su rushed forward and said, "Mr. Li, Mr. Yuan called just now."

Upon hearing that it was Yuan Chengdao, Li Dong immediately asked, "What's the matter?"

"Taobao just released a message."

Li Dong had a headache and said, "What's wrong with Ma Yun?"

Now he really has a lot of things to do, and he can't spare much energy to fight with Ma Yun for a while.

According to Li Dong's thinking, it is enough to live in such a stable way for now.

The real explosion of Yuanfang Mall will have to wait for the era of mobile clients.

But he doesn't want to fight now, but it doesn't mean that Ma Yun will be safe.

Seeing his headache, Bai Su couldn't help turning his mouth up, and didn't dare to show it. Bai Su hurriedly reported: "Taobao just announced that in the second half of the year, Taobao will build a 'Taobao City', which will be positioned as a large-scale online shopping mall. Up to 1.5 billion.

At present, it seems that an agreement has been signed with the Lin'an government.

In addition, at the same time as "Taobao City", Alimama and Taobao officially merged to build it into the world's largest e-commerce ecosystem. "

Li Dong didn't pay much attention to the Taobao City matter, but Li Dong couldn't help being a little distracted when he heard that Ali's mother was going to merge with Taobao.

This is going to take the big data route, and Ma Yun really has such a vicious vision.

I am afraid that Alibaba Cloud will come out soon.

The Internet of the future is inseparable from big data. Li Dong's side is not ready yet, but Taobao's side is a step ahead.

Li Dong let out a sigh of relief, there was nothing he could do about it.

There are some things that don't mean that prophets are useful. At least compared to Taobao, the foundation of Yuanfang Technology is still too weak.

Now we haven't even built our own data center, let alone cloud computing.

Fortunately, last time Weibo raised funds, Baidu was willing to provide some technical and talent support, and then we will see if we can get Baidu to get something good. 8)