America's Road to Fame

Chapter 408 Fan Xiaopang

If it is just that the enthusiasm of Samsung is not high, it is still possible for South Korea to complete the merger of Hynix and its related businesses after doing some work.

The most is to help lower the price of Hynix, so that Samsung can complete the annexation of Hynix at a relatively small price. Anyway, they are all domestic companies, and the meat will still rot in the pot in the end.

However, the situation is different now. Not only did William Chen pay a high price for Hynix, but another South Korean chaebol, the communications giant SK Group, also came out and intends to acquire Hynix. The combination of Hynix's memory business can still improve profitability.

It's just that SK Group's funds are not sufficient at present, so they proposed a plan, they are willing to acquire 3.4% of Hynix Semiconductor's shares at a price of 30 trillion won (about 31 billion U.S. dollars).

According to the plan proposed by SK Group, they will pay 2.3 trillion won to Hynix and 9 trillion won to the company's nine shareholders.

The person in charge of SK Group said in an interview: "Through the newly injected funds, Hynix will be able to improve financial stability and continue to invest to enhance competitiveness. SK Group will still focus on enhancing the corporate value of Hynix."

However, the reaction of the market is not optimistic about the acquisition of SK Group. Standard & Poor's rated the outlook of SK Group as negative and said that the acquisition will affect the credit quality of SK Group.

Standard & Poor's said: "Although Hynix has a strong position in the global memory semiconductor industry, the company's unstable operating performance while requiring large capital expenditures will be detrimental to SK Group's stable cash flow."

However, Hynix was not positive about the proposal suddenly proposed by SK Group, because it is obvious that SK Group's bid is not high, especially when compared with Chen William's bid.

Don't look at their willingness to assume Hynix's debts and invest $30 billion to acquire a 31% stake in Hynix. It seems that Hynix's valuation is set at $90 billion, plus $30 billion in Hynix's liabilities, which is equivalent to A total of 120 billion US dollars to acquire Hynix.

But you must know that the way SK Group acquires Hynix is ​​by purchasing Hynix’s newly issued shares for about US$20 billion—that is, this part is equivalent to injecting funds into Hynix, and the other about US$10 billion is to purchase Hynix. The stock in the hands of 9 shareholders of debt-to-equity swaps to complete the 31% stake.

Therefore, in fact, SK Group set Hynix’s pre-investment valuation at US$70 billion. Even if it assumes US$30 billion in debt, Hynix will continue to bear this part of the debt, and SK Group, as the controlling shareholder with 31% of the shares , the real proportional debt is only 10 billion US dollars.

That is to say, SK Group took out 30 billion U.S. dollars, plus assumed 10 billion U.S. dollars in debt, at a price of up to 40 billion U.S. dollars, held 31% of the shares, became the controlling party, and took control of the company.So if the future development of Hynix is ​​not as expected, they can no longer invest funds, or even split the company, and get their own money back, as long as they ensure that they do not suffer losses, or reduce losses.

At that time, Hynix may no longer exist.

Compared with this, even William Chen's current conditions are much more reliable than SK Group. Although their valuation of Hynix seems to be similar to that of SK Group, they took out 100 billion U.S. dollars in one go Solved the debt problem of Hynix, bought Hynix with all its capital, and will invest funds to develop Hynix in the future. If Hynix chooses itself, Chen William must have a better prospect.

Don't forget, the resources that William Chen can master, including the related industries invested by his group, Xiaomi mobile phone, the largest individual shareholder of Apple mobile phone, and Tesla, can bring business to Hynix, so this After comparison, it is clear how to choose.

Even Hynix's creditors and shareholders are more inclined to Chen William's side. Everyone understands that Chen William has completely defeated SK Group in terms of funds and resources. The only advantage of the other party is that they are the local chaebols of South Korea. , It is easier to open up the relationship with the government and create convenience for them.

However, William Chen didn't care about these. Even if the SK Group could find the South Korean government to clear up the relationship, so what?Although they can influence the attitude of the South Korean government, you must know that Chen William can influence the American government. If the United States really comes forward, South Korea will have to call Dad...

However, with the participation of SK Group, Hynix also hopes to use this to strive for a better price during the negotiation.

In the current negotiations, Hynix hopes that William Chen will increase the purchase price to US$120 billion, so that they can repay most of the debts in one go after shareholders sell their shares.

And they hope that after the acquisition, William Chen will continue to invest at least US$30 billion for Hynix to introduce the latest lithography machines and improve the precision of fabs and DRAM chip production lines.

After listening to these reports from his acquisition team, William Chen sorted out all aspects of the matter for a while, and said:
"Take care of Hynix for the time being, and just keep in touch. In addition, start plan B, and start sending people to contact there."

Hearing Chen Weilian's order, the person in charge of the acquisition team was stunned for a moment, and asked tentatively: "Boss, how far do we need to go?"

"For the purpose of acquisition."

The shocked expression on the other party's face flashed, and he immediately said seriously: "Okay, Boss, we will try our best to complete the task."

After the acquisition team left the villa, William Chen returned to the upstairs bedroom, where he met Fan Bingbing who was waiting for him.

At the same time that Chen William came to South Korea from New Zealand, Fan Bingbing had already set off from China, and came here to wait for him.

"How have you been, baby."

When William Chen entered the bedroom, Fan Bingbing was wearing home clothes and was sitting on the sofa looking at his mobile phone. He sat next to Fan Bingbing, held her in his arms, and asked.

Fan Bingbing was scrolling through Weibo before, she looked up at William Chen, leaned her head on his shoulder, and said:

"Fortunately, as far as the body is concerned, I feel fine, and now I wear looser clothes, and I can't see it too much. It won't work after a while, you see..."

While talking, Fan Bingbing took the phone and showed William Chen a report inside.

Chen Weilian glanced over, it was a Weibo of an unknown entertainment tabloid reporter, and the photos posted in it were Fan Bingbing's private photos taken at some time, and it should be the text on this Weibo not long ago, saying What's more, Fan Bingbing hasn't started work for a while, and she has gotten a little fat...

Uh, that's okay, anyway, it's not like she didn't get a little fat before, or she got the nickname "Fan Xiaopang".

However, William Chen would never say such words:

"It seems that there are quite a lot of paparazzi following you, so don't go back to China, where do you want to live for a while, baby."

Fan Bingbing thought for a while and said:
"France, how? Do you remember, we have been there together before, and I have been to Cannes a few times before, so I am familiar with it."

"Uh, I'm afraid that because you have been to Cannes a few times, the reputation there is still good, and it is easy to be recognized."

In fact, Chen William's real first reaction was, why did they all go to France, and get together there, but that's good, it's also convenient when you go to visit by yourself, and you can see three people in one trip, er, three pairs of mother and son or mother female……

(End of this chapter)