American Fortune Life

At 10 am on December 26, 2008, the Rockefeller Center in Manhattan, Andy Smith, who had just rushed back from Houston to New York, held a press conference and officially announced the planned purchase of Qualcomm for $ 41 billion. The news came out and was immediately shocked. Global technology industry.

Andy Smith proposed to acquire Qualcomm for $ 35 in cash per share, involving a total value of $ 41 billion. By the time of publication, Qualcomm's stock price had risen more than 3%.

Participating in this acquisition helped the stock prices of several banks and investment banks that helped Andy to finance and trade securities also start to change their downward trend and rose slightly. However, what Andy did not expect is that the stock prices of two of his listed companies, guess apparel and Starbucks, were also affected by this news and rose accordingly.

Once this transaction is successful, not only will it be the largest acquisition in the history of the global semiconductor industry, it will also make Andy Smith become a giant that dominates many chip fields, consolidating his wealth foundation, and may even directly direct Apple and smart The supply chain of mobile phone giants has had an impact.

Behind this sky-high acquisition plan that will subvert the semiconductor industry, 24-year-old genius writer, new media crocodile, and super rich Andy Smith once again become the focus of news media and IT industry worldwide.

Although it is still uncertain whether the acquisition can be completed, the acquisition of Qualcomm is in line with Andy Smith's "acquisition madness" in the past two years.

Seemingly without warning, in fact, it has been laid out for a long time. When the problem suddenly occurred, it was followed by the crushing of strong cash strength. As an opponent, there may be no fight back.

The Starbucks example is there, making everyone unconsciously think that the success of Andy Smith's acquisition is only a matter of time.

One hour after Andy's press conference, Qualcomm responded immediately, reviewing the proposal and acting in the best interests of shareholders.

Then I was interviewed by the TV media. What I meant was that Qualcomm did not want to be acquired. Qualcomm relies on its own strength to create a new round of value for shareholders.

However, including Qualcomm itself, it is clear that this is only their wishful thinking. For Andy Smith, who has succeeded in every commercial shot in the past two years, their acquired party ideas are useless at all.

Especially with the management quake of Starbucks and nb Global after he joined the company, the young rich man's ruthless and decisive impression has been deeply rooted.

Originally, Qualcomm's management wanted to express its rejection of Andy Smith, a young rich man who did not understand technology, in an interview with the media. The Gaia company spokesperson announced instead of Andy Smith, and currently holds Qualcomm's 157%. After the shares, all died down.

Everyone knows that even if Andy Smith truly privatizes Qualcomm, no one can prevent him from entering the Qualcomm board, and offend a major shareholder, Qualcomm's management unless crowded.

So now, the ball has been kicked to the board of Qualcomm, and has just expressed in the media that it would not welcome the acquired Qualcomm EO Paul Jacobs, and was slaped in the face with a slap.

Andy Smith said in actual action, do you not want to be acquired and I will not acquire it? Think too much, I have no intention to ignore you!

Andy's spokesperson officially announced at the media press conference that he initiated a takeover offer directly to shareholders, which has officially evolved into a hostile takeover!

Knight in Black!

Barbarians outside the door!

"Dear shareholders, I hope that shareholders can remain sane. Even if the stock is to be sold off, the purchase price of $ 35 is not the final price. Believe me, our stock price is up to $ 56.

Dear shareholders, although accepting the "hostile takeover" of the other party can make a short-term profit, this is contrary to the company's long-term development.

Qualcomm is currently in a sensitive and critical period of 2g to 3g change. It has established a series of human capital, supply and marketing networks, and debt relationships that are closely related to strategic stability. If these arrangements are interrupted by short-term profit motive, it will definitely affect Overall development efficiency.

Last year, we have become the number one in the industry. Please be sure that Qualcomm has a huge opportunity to create significant added value for your shareholders and welcome the next stage of profitable growth ... "

In the conference room of Qualcomm's headquarters in California, the son of Avon Jacobs, the former CEO of Qualcomm and the company's co-founder, is now EO Paul Jacobs, and convened a board member urgently, persuading the major shareholders in a video conference.

He had to do this because there were already a number of holding institutions that had begun selling Qualcomm stock, and these sold stocks were like being thrown into a black hole in the universe.

Everyone knows that the black hole is the acquisition team of Andy Smith who is not bad money and holds a lot of cash in his hand.

"Paul, what do you do?" Thirty video windows are listed on the large LCD screen. The first person to ask is Blackstone Group.

"Initiated a" poison pill plan "counterattack in accordance with US capital market rules. A large number of targeted new shares were issued, diluting the proportion of shares held by the other party, thereby increasing the cost of capital and the final return required for the acquisition ..."

As soon as his words fell, it caused a question and a veto.

"This solution doesn't work ..."

"Once the counterattack is launched, Qualcomm's rating will be lowered and the stock price will plummet. We will not bear this loss!"

"I object!"

"I oppose this plan ..." ...

Paul Jacob chuckled in his heart, his face remained unchanged, but his heart was cold. He knew that the most effective counter-attack method was completely abolished by his shareholders.

interest!

Sure enough, in the eyes of these investors, their respective interests are the most important. As for who helps them to control the company, they don't care, and they don't have much respect for their eo.

To put it bluntly, at this time, Qualcomm is no longer the property of their Jacob family, and he is just a senior employee with a small share.

After listening to the strong opposition of shareholders, Paul Jacob and the members of the board of directors have seen each other's deep concerns after making eye contact with each other.

The other is that the management agreed to resign collectively to increase the operation risk after the acquisition, not to mention the mess with the company. This group of shareholders would never agree.

"Paul, let's talk straight. I believe you have a better plan to fight back. If it is feasible, we will support you," said the shareholder representative of Pioneer International Group.

As the words came out, the noisy discussions were also quiet. They all looked at Paul Jacob on the first seat of the conference room through the camera and waited for each other's better plans to see if they could Maximize their shareholders' interests.

"Well, first of all, I'll talk to Andy Smith on the phone, dispute his offer, and raise it.

At the same time, he joined various partners to speak out against the acquisition of Andy Smith, a layman.

The other is to mobilize funds, plan stock repurchases to increase the stock price, and significantly increase the financial year 2009 performance goals, and other means, hoping to make Andy Smith retreat ... "

Alas, in order to protect his property from being acquired maliciously, Paul Jacobs has done all sorts of tricks.

"Yes, I think it works ..."

"These solutions are good. I support ..."

"$ 35 is indeed undervalued ..."

"Where does repurchase funds come from? Do you mobilize overseas funds? What about high taxes ..."

"Should you consider taking out some overseas cash for dividends?"

"The performance goals for the 2009 fiscal year have been greatly improved. What if we can't complete it? Who will be responsible? Can it really be achieved under the financial turmoil?"

Wuyang Wuyang's argument made Paul Jacob and the members of the board of directors look dignified and curse in their hearts. These **** really wanted to maximize their own interests.

Well, it seems that overseas funds have been remembered. In order to avoid being severely cut by the US government when overseas funds return, almost all multinational companies will not choose to allow overseas funds to return, but stay overseas and wait for their use. To acquire or merge, to reasonably avoid taxes.

"If all shareholders agree with our counter-attack plan, then raise your hands to vote now!" Paul Jacob said with a serious look and a gloomy look. He wanted to set up a counter-attack plan early to deal with barbarians outside the door!

"I agree!"

"I have no opinion!"

"You can try!" ...