Chapter 1177： breakthrough

"Is there such a thing? Okay, I know, I will arrange someone, um... um... OK, that's it."

Dunn hung up the phone, his eyes flashing.

I really didn't expect to find a breakthrough to break the Big Five alliance so easily.

At this moment, there was a knock on the door of the study, and a delicate and lovely face came in, with big eyes blinking and shining brightly.

"Lily?" Dunn was a little surprised and couldn't help but smile, "Why are you here?"

Lily Collins pushed open the door, ran over with a smile, and sat beside Dunn, "I came to the UK three days ago! I counted the Champions League game in Liverpool, so I ran over early, and you really are here! "

Dunn didn't believe it, "Nate told you?"

Lily smiled noncommittally, "Taylor asked me to ask you, when are you going back?"

"I..." Dunn paused for a while, "Come on, it's just a few days. What are you doing?"

Lily pursed her lips and said, "I heard that you said something happened, and Taylor said he would give you advice."

Tang En didn't know whether to laugh or cry: "You two understand again?"

"Why don't you understand? I have already asked my mother, and she has told me all about it." Lily said in disbelief.

"Oh? What did your mother say?"

"Mom said that you always eat alone, make too much money, and make people jealous, so people deal with you."

Dunn nodded, "Well, that's about it. That's it."

Little Lord Lily persuaded: "Don't do this in the future, you need to teach a lesson."

Tang En looked at her amusingly, "You understand again?"

Lily said: "You always look down on people! Hmph, it's all talked about in the social class, you have to be nice to make money."

"Harmony to make money? Bullshit!" Tang En shook his head again and again, disapproving, "Have you read The Wealth of Nations? Have you read Capital? The essence of capitalism is private ownership, and the essence of private ownership is to eat alone. Benefit sharing is called a big pot of rice. , that is ghost economics, which has long been proven by practice and has been eliminated by the times.”

Lily didn't quite understand, and pouted: "But mom said that your food looks ugly, you eat too much, and others have nothing to eat, they will definitely resist."

Dunn shook his head and said, "You are still young, and you will understand when you have studied economics. Benefit sharing cannot promote the overall development of the industry, and the more brutal the competition, the better the productivity. The overall development will be better. If you really eat too much, there will naturally be anti-monopoly laws.”

In fact, in an increasingly globalized society, even if there are anti-monopoly legal constraints, it cannot prevent some large companies from eating alone.

For example, giants such as Google will be investigated by the European Union and the United States almost every three or five times, and each time they will be fined billions of dollars. But fines can be made, and it is impossible for Google to give up the market to its competitors.

I'd rather be fined than make a profit!

Another example is the ios system that can only be used by Apple mobile phones, which is the biggest guarantee for the iPhone to eat alone in the mobile phone industry, grabbing nearly 80% of the profits of the global mobile phone market.

New Universal has only grabbed about 55% of Hollywood's profits. Compared with the iPhone, it is still far behind.

Only companies that eat more food alone and companies that are on the edge of monopoly can be more optimistic about the capital market and their stock prices will be higher.

Lily stumbled "Oh", "Anyway, my mother said, this time you are in trouble, those people are all red-eyed."

"Don't worry, I can't make waves, I have found a way to deal with them!" Tang En waved his hand, and couldn't help but looked up and down at the young and beautiful girl.

I haven't seen her for a while, and she has grown a lot again, and has become more watery.

Lily Collins blushed a little, "What are you doing?"

"What do you think?" Dunn winked badly at her.

Lily didn't answer him either, "By the way, how did I see...one more person?"

"Oh, you said Blake, Blake Lively, a new girl I met. How is she, isn't she pretty?"

"Yeah." Lily nodded lightly.

"Go and call her over, let's..." Tang En winked at her again, with that evil look, the meaning was very obvious.

Lily was a little surprised: "Huh? Still calling her?"

Tang En said casually, "Come here, it just so happens that you both get to know each other."

"I...I...I'm so embarrassed." Lily was a little embarrassed.

Tang En said in disapproval: "What's so embarrassing about this? They're all sisters at home, so I'll give you a task, let's go."

Lily bit her lip, "Then go to the bedroom, I don't want to be in the study."

"Well, okay, let's go!"

Tang En smiled and pushed her, and felt that this girl was the cutest when she was still obedient.

...

Disney's stock price is now $22.

According to normal financial logic, shareholders need to discount when they actively sell their shares. When shares are passively sold, they are sold at a premium.

The Bass family wants to liquidate 135 million shares of Disney shares in one go, and it must not be $22, but at a discount.

On this day, Michael Eisner called Edward Bass and told him the final result of the board.

"Disney will buy back 50 million shares, and the remaining 85 million shares will be taken over by Goldman Sachs."

"What about the price?"

"$18."

"How many?"

Edward Bass thought he had heard it wrong.

Michael Eisner was forced to repeat, "$18."

"You're crazy!" Edward Bass couldn't believe it. "How dare you offer such a price? Aren't you afraid of a stock market crash?"

As a listed company, Disney must disclose the liquidation of major shareholders and the transaction price of both parties.

Once Disney's public transaction price is only $18, it means that the Disney board's assessment of the stock price is only $18!

When the stock market opens, Disney's stock price will inevitably suffer a crash, falling from $22 to $18 in an instant, which is equivalent to evaporating 18% of its market value in an instant!

Although the Bass family lost a lot of money by selling shares at $18, Disney's losses would be even bigger, and it would even cause stock market turmoil.

Michael Eisner is full of confidence in himself, "Disney's stock price is supported, and our third-quarter results are not bad. In the past six months, Disney's stock has fallen enough, and it can't fall."

Edward Bass took a deep breath. He didn't know where Eisner's confidence came from, but he couldn't accept the $18 offer.

"The price is too low for me to accept."

"That's the highest price the board has approved. Edward, we've known each other for twenty years, and I'd certainly be willing to do more for you if possible."

"No, the price is too low." Edward Bass was very dissatisfied.

Michael Eisner insisted: "Sorry, this is the most reasonable price Disney can offer. After all, there is Goldman Sachs. With Disney's current cash flow, it can't eat all the stock."

"If you can't solve the problem, I can only find someone else." Edward Bass said lightly.

"Um?"

Michael Eisner was startled, but did not react.

I'm the chairman and CEO of Disney, who else are you looking for besides me?

Edward Bass said intentionally or unintentionally: "Maybe there are some daring foundations who dare to buy Disney's stock at this time. As you said, Disney's stock price is at an undervalued period and has certain investment value. "

Michael Eisner freaked out, "No! Edward, you can't do that!"

The Bass family's shares account for 6.7% of Disney's total share capital, which is a very high voting power. Sold to an unrelated organization, wouldn't it interfere with Disney's decision-making?

For example, Carl Icahn, known as the "Wall Street corporate sniper", is notorious.

Some time ago, Blockbuster was revealed to have divested its online leasing business. Why?

The fundamental reason is that Netflix cannot compete, which is obvious.

The direct reason is from this Carl Icahn!

Carl Icahn thinks that the stock price of Blockbuster is undervalued, and then he kept scavenging in the capital market, and bought 3.2% of the shares from the California Pension Fund, directly occupying 5.1% of the shares of Blockbuster, and became Blockbuster. The third largest shareholder also has the qualifications to propose a general meeting of shareholders and a board of directors.

Because Carl Icahn is too famous, although he supports 5.1% of the shares, it can lead a large number of shareholders to follow, leading more than 30% of the voting rights.

Then, Carl Icahn successfully got 3 board seats and started a series of reforms to Blockbuster.

Unprofitable businesses, split, sell or simply shut down!

Change to a more famous professional manager in charge of the main department!

Hit a big ad!

Cut expenses!

Gray tax avoidance!

Layoffs!

In short, after a series of drastic reforms, Blockbuster's profits have soared in a short period of time, the market prospects have soared, and its stock price has soared along with it!

Then Carl Icahn pulled out without a hitch, made a lot of money, and got away.

There is a devastated and outrageous Blockbuster waiting to die.

Those previous excellent performances were nothing but the reverberation of Carl Icahn's series of divine manipulations.

Through the "return to the light", Blockbuster's stock price rose, Carl Icahn cashed out, and Blockbuster was completely destroyed.

For this kind of Wall Street sniper, let alone Hollywood, companies all over the world hate it.

How could Michael Eisner allow the Bass family to sell their stock at will?

What if you sell it to an unreliable person?

Edward Bass had no choice. "If the price is right, I will definitely choose Disney. But I think this is a market behavior, and the higher price wins."

Michael Eisner was frightened and his voice was shaking, "Edward, let's discuss it again, don't worry!"

Edward Bass said: "You are not in a hurry, but my margin financier is in a hurry. I must raise the margin immediately, and I have no time to negotiate a tug-of-war."