v3 Chapter 1327： The McCormick family must be in crisis

Latest website: James McCormick hesitated, struggling fiercely in his heart.

Seeing this, Alman Simmons smiled instead, with greater confidence in his chest.

After learning that the Chicago Consortium was planned before, the four major banks of the Chicago Consortium, the boss Peter Lynch, and him 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 infiltrated by the Morgan Consortium.

The First National Bank of Chicago is also very good, but it has been infiltrated by the Rockefeller consortium.

The difference between Harris Trust & Savings Bank and Northern Trust Bank is small. The two banks have something in common, but they are also quite different.

Harris Trust & Savings Bank's trust business is very strong, but the personal savings business is also very good, occupying a large proportion.

The Northern Trust Bank’s business includes asset services, fund management, asset management, trust and banking solutions, and so on.

However, the most critical consideration for choosing Northern Trust Bank is that Northern Trust Bank has large businesses in Canada and the United Kingdom, and it also has an influence in Europe.

And this influence is complementary to Wells Fargo.

Of course, Alman Simmons did not think about annexing Harris Trust & Savings Bank and Northern Trust Bank at the same time, but he gave up after the deduction and his strength did not allow him.

Even the Morgan Consortium and Rockefeller Consortium are focusing on one bank. After the Chicago Consortium broke out in the crisis, other consortiums will definitely be tempted, so it is already very good to be able to eat the next one.

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

"President McCormick, at this time, I personally think that you should consider yourself and the McCormick family the most. Other people, why should you consider so much?"

The words of Alman Simmons awakened James McCormick like a divine enlightenment.

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

James McCormick did not say anything hypocritical, but directly asked: "Then what price do you plan to offer?"

"I believe that others will also be interested!"

Due to time constraints, James McCormick also directly neglected to let the professional team negotiate, and he came to talk directly.

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

"Maybe others will really be tempted, but they all want to wait until the end. It is best if the Continental Bank of Illinois is on the verge of bankruptcy and can take over the bank's assets for one dollar."

Aalman Simmons said with a sneer, rebutting extremely forcefully.

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

"One hundred million dollars!"

Arman Simmons decisively quoted a price.

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

This is almost the same as the core capital of Northern Trust Bank.

Although the bank’s assets belong to customers, the value of customers can’t be counted at all, right?

So James McCormick immediately retorted: "Impossible, the price is too low."

"At least 400 million U.S. dollars!"

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

"Even if it's listed, it can exceed a one-hundred-fold P/E ratio, 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."

"At the current rate of capital loss at Northern Trust Bank, it would be nice to be able to retain more than 20 billion U.S. dollars in assets of over 28 billion U.S. dollars."

"One hundred million dollars is already a very high premium!"

"No more!"

James McCormick shook his face and argued: "But it is undeniable that Northern Trust Bank has enough potential. It is only a special situation. As long as this year, the situation will definitely get better."

"But I can save you face and save 50 million dollars."

"Too high……"

Arman Simmons continued to bargain.

...

The two big bankers in the United States, like two hawkers at this time, quarreled with saliva.

But no one left, trying to figure out the other side's bottom line within the determined framework.

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

The 13.8% stake in Northern Trust Bank was eventually traded at US$220 million.

Converted, it is equivalent to nearly 1.6 billion U.S. dollars worth of Northern Trust Bank.

The price is definitely low.

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

The actual situation of Northern Trust Bank is indeed not good.

So Alman Simmons succeeded in taking advantage of the fire.

But James McCormick is still satisfied.

Selling 4.65% of Motorola's equity can get back $360 million in funds.

Together with the current funding of 220 million U.S. dollars, it has reached 580 million U.S. dollars.

This amount of funds, even if it is put in the usual way, is considered to be very large, let alone this critical moment?

"President Simmons, I have an urgent matter. I will go back first. After you go back, please send someone to our company to sign the contract."

"Of course, the most important thing is to prepare funds."

When they were about to leave, the two held their hands, and smiles appeared on their faces.

"Of course it's okay, I'll let someone pass it later."

"Ok."

...

Wells Fargo also has a branch in Chicago. Alman Simmons had already prepared the manpower. After he returned to the branch, he immediately sent a team to the mainland bank of Illinois.

On the same day, the contract was signed, 580 million yuan was spent, and the equity of the two companies were all obtained.

Motorola’s equity was only bought incidentally to help the parent company Polaris Capital. What Wells Fargo really needs is the equity of Northern Trust Bank.

Except for the major shareholder, the Krone family, , the most difficult-to-buy equity held by the mainland bank of Illinois has already been obtained.

Next, Arman Simmons will let the team quickly initiate acquisitions to other shareholders.

He will not 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 as soon as possible, and the relationship with the Chicago Consortium can be separated, the crisis will naturally be lifted, and Northern Trust Bank’s losses will be minimized.

If that's the case, the acquisition now won't even count the high price.

The news of the acquisition of these two shares soon reached Xia Yu's ears.

Xia Yu immediately gave the order to increase the all-round offensive force.

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