Chapter 721 Ability Cannot Match Ambition

It took two or three days to prepare.

After some research.

Suri believes that the offer price of US$20 billion does not seem safe.

There are rumors from the outside world that Alibaba also tried to acquire Yahoo as a whole for US$25 billion last year, but was ultimately rejected by Yahoo's board of directors, so it chose to repurchase Alibaba shares at a high price at the beginning of this year.

In the past half year, Yahoo's stock price has fallen a lot, and its latest market value is less than 18 billion US dollars.

This led to a recent ranking that ranked Yahoo's board of directors as the first "worst board of directors in 2011". This shows how deep the resentment of countless trapped investors towards Yahoo's decision-makers is.

The reason why management is chaotic is mainly related to the character of founder Yang Zhiyuan.

As early as when he rejected Microsoft's acquisition invitation a few years ago, there was a lot of discussion from the outside world, accusing the founder of not making the decision out of the interests of shareholders, but because of personal emotions and not wanting to hand over the Yahoo he created to others.

Later, in order to prevent the company from being sold, founder Jerry Yang also teamed up with a third-party company to acquire Yahoo shares to increase his voice and try to privatize and delist the company.

Judging from the current situation, the founder of Yahoo has obviously failed, and he has also completely lost his position as CEO of Yahoo because he offended Wall Street, causing many major shareholders and investors to lose money.

in this case.

Suri felt that if he offered a high enough premium to make the shareholders who originally wanted to package and sell Yahoo become interested again, the chance of successfully acquiring it should be relatively high.

Thinking that Alibaba's valuation could skyrocket at any time, he gritted his teeth and set the acquisition price at between US$21 billion and US$23 billion.

Yahoo's board of directors is notoriously disunited. It has recently had abundant cash flow and launched new buyback and expansion plans, giving shareholders confidence.

Only by offering a high price can Yahoo executives reach an agreement as soon as possible. From Suri's point of view, it is better to make less than nothing.

After receiving the call.

David Levin, co-head of the investment banking department of Goldman Sachs Group, immediately flew over from New York.

David Levine acted as a second-in-command and leaked the news to Suri that the Hong Kong Monetary Authority was looking for cooperation with asset management companies. He successfully deceived his competitors and successfully became the co-head of the investment banking department and entered Goldman Sachs. The group’s executive ranks.

Later, Su Rui collaborated with him many times, and the relationship has always been very good. Recently, Goldman Sachs is responsible for the launch of the S electric car.

Pebble Beach Golf Course near Seventeen Mile Bay, California.

As one of the most famous golf courses in the world, it is located on the seaside and has stunning scenery.

Suri was busy swinging the tee shot. He had practiced it during his stay in Lanai. His golf skills had improved by leaps and bounds. He saw the white ball flying far away and landing just six or seven meters away from the hole with the flagpole. on the distant lawn.

The sun was a bit dazzling today. David Levine, wearing a peaked cap, applauded and told:

"It's a perfect shot. You play with the coolness of Tiger Woods, and you are full of confidence."

Suri spread his hands and said:

"I have a golf course of my own where I can practice often. What do you think of what I just talked to you about?"

David Levin nodded and said:

"If Yahoo is acquired by you, it is indeed possible to come back to life and create a new miracle. However, I suggest that you better get Caishen Capital together and let it jointly acquire it with your family office, because there are many common shareholders between the two, such as Vanguard, BlackRock, and Morgan Stanley will make negotiations smoother and reduce your own risks.”

Hand the club to the young and beautiful female caddy, step on the lawn and get on the golf cart.

Suri certainly knows this, replying to David Levine:

"I will look for them to cooperate, but not now. As you know, I am building an Internet ecological chain in the mainland. Due to the competition with Alibaba, Yahoo's Alibaba shares are of some use to me."

"If the acquisition of Yahoo is successfully completed, I can leave it to you to take charge of the subsequent splitting and reorganization, financing and sales, etc. Remember to give me a discount."

"Yahoo's problems are already serious. Before being acquired by me, I hope that it can cut off some departments and lay off some redundant employees, and then start over with a light load. In fact, I already have some ideas."

David Levine has been in the industry for many years, but has never personally been responsible for an acquisition of this scale. He was a little excited and said again:

"Yahoo's new CEO Marissa Mayer, I have dealt with her very early."

"Although she is a smart woman and has experience in managing large companies in Silicon Valley, I don't think she has the ability to turn the tide. Instead, she may exhaust Yahoo's cash reserves."

"Her ability cannot match her ambition. She has recently cooperated with consulting firms McKinsey and PricewaterhouseCoopers. It is said that she is interested in more than a dozen startups, hoping to attract users to these startups like Facebook and Google. here to help them succeed.”

Suri already knew about this and joked:

"Then I should take action quickly, lest I end up with a bunch of junk projects, which will further reduce the value of Yahoo. After you finish understanding the situation of this company, I want to invite Marissa Mayer out to have a chat. ”

David Levine nodded:

"Leave it to me. I have assigned a lot of people to take charge of your transaction. In fact, SoftBank Group has always been interested in acquiring the remaining shares of Yahoo Japan. If you really want Alibaba's shares, maybe I can help you to match Yahoo's Yahoo Japan shares with some of SoftBank's Alibaba shares. Then you will have the opportunity to become the largest shareholder of Alibaba Group."

For this, I can only say that he is a professional with a more active mind.

Su Rui knows that Yahoo holds a large number of Yahoo Japan shares, and that SoftBank Group Japan holds a large number of Alibaba shares, but he has never thought about "stock exchange".

Let's skip this topic for now.

When he came to the hole, Su Rui picked up a golf club and asked, "Is anyone outside talking about my business in China? How is it going?"

David Levin said calmly:

"Because it is your business, Wall Street is of course very concerned. Some people have tried to contact our company, hoping to get some shares when it goes public and make money with you. Only a few people pay attention to Chinese stocks, and many investors have been cheated. Some time ago, Muddy Waters shorted Chinese stocks and seemed to have made a net profit of more than 700 million US dollars."

Su Rui is more concerned about China.

But in the eyes of most Americans, it seems that there is only Silicon Valley in the world.

This is like Chinese investors, who will not pay attention to Bangalore, known as the "Silicon Valley of India". In fact, India accounts for more than 50% of the global software outsourcing industry. Last year, the industry scale was close to 100 billion US dollars, and many potential stocks worth investing in have emerged (end of this chapter)