Chapter 1327 The McCormick Family Must Be in Crisis

The latest website: James McCormick hesitated and struggled fiercely in his heart.

Seeing this scene, Arman Simmons showed a smile instead, and his chest was even bigger.

After learning that they were planning to plan a Chicago consortium, Peter Lynch, the boss of the four major banks in the Chicago consortium, and he all agreed that Northern Trust Bank was the most suitable target for mergers and acquisitions.

Although the mainland Illinois Bank is the strongest, it has a different model and has been penetrated by the Morgan consortium.

First Chicago National Bank is also very good, but has been penetrated by the Rockefeller consortium.

Harris Trust and Savings Bank and Northern Trust Bank are not far apart. The two banks have similarities, but there are also big differences.

Harris Trust and Savings Bank's trust business is strong, but personal savings business is also very good, accounting for a large proportion.

While Northern Trust Bank's business includes asset services, fund management, asset management, trust and banking solutions and more.

But the most crucial consideration for choosing Northern Trust Bank is that Northern Trust Bank has a large business in Canada and the United Kingdom, and also has influence in Europe.

And this influence is complementary to Wells Fargo.

Of course, Arman Simmons didn't think about annexing Harris Trust and Savings Bank and Northern Trust Bank at the same time, but he gave up after the deduction, and his strength did not allow it.

Even the Morgan consortium and the Rockefeller consortium mainly attack one bank. After the crisis broke out in the Chicago consortium, other consortiums will definitely be tempted, so it is very good to be able to eat one.

After all, if there are ten birds in the forest, it is better to have one bird in hand!

"President McCormick, at this time, I personally think that you should think about yourself and the McCormick family the most. Why do you think so much about other people?"

These words from Yarman Simmons awakened James McCormick like a slap in the face.

The selfish side of human nature quickly gained the upper hand.

James McCormick didn't say anything hypocritical, but asked directly: "Then what price are you going to pay?"

"I believe,

Others will be interested too! "

Due to the urgency of time, James McCormick also directly neglected to let a professional team negotiate, and he directly negotiated.

"But I was the first to find you, wasn't I?"

"Maybe there will be other people who will really be tempted, but they all want to wait until the end, preferably when the Continental Illinois Bank is on the verge of bankruptcy and can take over the bank's assets for a dollar."

Yarman Simmons said with a sneer, retorting extremely forcefully.

James McCormick's face was a little ugly, but he didn't retort shamelessly, but asked again: "It's a matter between us now, I just want to know what price you're willing to pay?"

"One hundred million dollars!"

Yarman Simmons made a decisive bid.

According to the corresponding 13.8% equity, Northern Trust Bank, which is equivalent to more than 28 billion US dollars in assets, is worth 720 million US dollars in his mind!

This is similar to the core capital of Northern Trust Bank.

Although bank assets belong to customers, the value of customers cannot be counted at all, right?

So James McCormick immediately retorted: "No way, the price is too low."

"At least $400 million!"

Yarman Simmons said with a sneer: "Last year, Northern Trust's net profit was only $21 million. With this profit, do you dare to say that Northern Trust can be worth nearly $3 billion?"

"Even if it's going public, it's more than a hundred times earnings. President McCormick, you really dare to think about it."

"What's more, this year, Northern Trust Bank will definitely be hit hard, and 100% will lose money."

"With the current rate of capital loss of Northern Trust Bank, it is not bad to be able to retain $20 billion in assets of more than $28 billion."

"$100 million is already a high premium!"

"No more!"

James McCormick shivered and argued: "But it is undeniable that Northern Trust Bank has enough potential. Now it is only a special situation. As long as it lasts through this year, the situation will definitely improve."

"But I can give you a face and drop fifty million dollars."

"Too high……"

Yarman Simmons continues to haggle.

...

The two big American bankers, like two hawkers at this time, quarreled with saliva splashing.

But no one left, and they all tried to figure out the bottom line of the other party within the determined framework.

After nearly half an hour of fighting, an agreement was finally reached.

The 13.8% stake in Northern Trust Bank, the final transaction price was 220 million US dollars.

Converted, it is equivalent to the value of Northern Trust Bank of nearly 1.6 billion US dollars.

The price is definitely low.

But there is no way. Now the Chicago consortium is in crisis, Continental Illinois Bank is in crisis, and their McCormick family is in crisis.

The actual situation of Northern Trust Bank is also really bad.

So Yarman Simmons succeeded in taking advantage of the fire.

But James McCormick was satisfied.

Selling Motorola's 4.65% stake will get back $360 million.

Combined with the current funding of $220 million, it reaches $580 million.

This amount of money, even in the usual way, is quite huge, let alone at this critical moment?

"President Simmons, I have something urgent. I'll go back first. Please send someone to our company to sign the contract after you go back."

"The most important thing, of course, is to have the funds ready."

As they were about to leave, the two held hands and both had smiles on their faces.

"Of course there's no problem, I'll send someone over later."

"OK."

...

Wells Fargo also has a branch in Chicago, and Yarman Simmons has already prepared his staff. After he returned to the branch, he immediately sent a team to the mainland Illinois Bank.

On the same day, the contract was signed, 580 million yuan was paid, and the two companies' equity was all obtained.

Motorola's equity was bought for its parent company, Polaris Capital, by the way. What Wells Fargo really needs is the equity of Northern Trust Bank.

In addition to the major shareholders of the Crown family, the most difficult to buy shares held by the Bank of Illinois in mainland China has been obtained.

Next, Yarman Simmons will have the team make quick acquisitions to other shareholders.

He won't wait until the last moment.

Although the acquisition price is higher now, the competition is also minimal.

Furthermore, as long as the Northern Trust Bank can be acquired early, and the relationship with the Chicago consortium is separated, the crisis will naturally be lifted, and the losses of the Northern Trust Bank will be minimized.

In this case, the acquisition now is not a high price.

The news of winning these two shares quickly reached Xia Yu's ears.

Xia Yu immediately ordered to increase the all-round attack.

The Continental Illinois Bank's funds must be drained as quickly as possible, and the McCormick family must be in crisis before he can get what he really wants.