American Fortune Life

"I'm not a semiconductor person, but I know how to make money and operate."

"For all listed chip companies, after all, they still have to explain to shareholders and investors. It is not only the revenue, but also the performance of earnings and earnings per share that are what shareholders and investors care about. . "

"You asked me how the board of directors of Qualcomm is doing now? Hehe, look at the few institutional shareholders present selling Qualcomm stock, you can understand the attitudes and opinions of shareholders ..."

"From a structural point of view, in the 1980s, small start-up companies entered the semiconductor industry, and in the 1990s they began to go public and small mergers and acquisitions. By 2000, horizontal mergers appeared, large transactions appeared, and the development speed of the semiconductor industry has decreased. Come down.

As I emphasized earlier, I am not a semiconductor person, but I know how to make money and operate. In the next ten years, the trend of M & A in the semiconductor industry will shift from horizontal M & A to vertical integration of upstream and downstream, and the future semiconductor ecosystem will become increasingly important.

Regarding Qualcomm's current board, I don't think they can lead Qualcomm to meet the challenges of the future. I am disappointed that they completely ignored the interests of shareholders and investors during this period of time and acted on their own. . . "

In the conference room of Qualcomm's headquarters in San Diego, California, the board members looked at the LCD TV one by one, and Andy Smith faced many reporters. Accompanied by the shareholders of the six major institutions, it was like news outside the Michelin restaurant. Press conference-like interviews.

silence!

The collective silence makes the atmosphere of the conference room dignified!

In order to protect their property from being acquired maliciously, it can be said that members of Qualcomm's board of directors have exhausted all kinds of tactics. At this moment, there is only silence and frustration.

They delayed the holding of the shareholders' meeting in January. The original strategy of using time to exchange space. When they saw the six major institutional shareholders and Andy Smith standing together, everything seemed so ridiculous!

The overlord's overall malicious acquisition plan for “Bover King” was just a shot. Now they know that Andy Smith has no overall acquisition plan from the beginning. The real intention is to target the board and subvert the board. Reach the final result of controlling Qualcomm.

Qualcomm shareholders meeting is imminent, whose fate will be rewritten?

It now seems that there is no suspense anymore! Andy Smith has the support of Qualcomm's top six institutional shareholders, plus his own shares, topple the board of directors, easily.

Keeping such an important "counter-attack" to the **** of less than a week from the shareholders' meeting, Andy Smith obviously does not intend to give Qualcomm's board of directors a reaction time.

Now think about it, Andy Smith is indeed right, Qualcomm shareholders are really at the helm!

Perhaps all this, in the face of a hostile takeover, the board of directors decided to fight back and fell into a trap.

The intention of Andy Smith's malicious acquisition and the counterattack of Qualcomm's board of directors is different, and the result is naturally ten million times different.

Andy Smith has been an acquisition for the benefit of investment from the beginning. In order to obtain the broadest support, naturally Qualcomm will not consider the long-term strategy of the company. Instead, it promises shareholders, draws big cakes, and even uses short-term open source savings And layoffs to make the company's performance more beautiful, so that shareholders can obtain short-term earnings as a bargaining chip.

The board of directors, which is based on technological innovation and business synergy, is based on a long-term business development strategy and faces future industrial trends. The return may be slow, but it will last longer, and it has the potential to continue to explode.

To put it bluntly, it is the difference between short-term and long-term interests.

Now thinking about it, Andy Smith's choice of acquiring Qualcomm's time node should also be a well-thought-out decision.

Prepared enough short-term income plans to convince institutional shareholders caught in the mire of the financial crisis.

When Qualcomm's board is desperately trying to keep its seat on the board, using funds to buy back stock, buy other companies, desperately spend money, increase Qualcomm's assets, and prevent Andy Smith's malicious acquisition.

Andy Smith was shouting with the institutional shareholders "QUALCOMM shareholders, you should agree to this acquisition, because you can directly obtain the benefits of Hongguo. Qualcomm's board can give you benefits, but too little, or Follow me more! "

The management of each listed company hopes that capital should be less intervened, and shareholders' eyes should be longer.

However, capital is profiting. This is the essence that no one can change!

At the same time, capital is also sensitive, which is particularly prominent under the cloud of the economic crisis at this time.

Members of the board of directors of Qualcomm in the meeting room are in a mixed mood. I don't want to lose my board seat, but I can't do anything about it. The day the big shareholders meet is the day they are swept out.

"Uh-"

Everyone in the sorrowful conference room heard the knock on the door, and invariably looked at the person who pushed in the door.

"Chairman, the company's stock price has plummeted to $ 35. With the emergence of panic selling, U.S. stocks have plummeted across the board ..."

Wow

After hearing the report, everyone in the conference room immediately burst into an uproar and looked ugly. They did not have a better way to cope with today's plunge. After all, today's US stocks plunged across the board.

Huh!

"Everyone be quiet!" Director Li, John, who was elected as the interim chairman, reluctantly tapped his finger on the desktop and whispered softly.

When everyone looked ugly and quiet, their eyes focused on the interim chairman John.

"Is it possible to track a large selling account?"

"........." The comer was silent first, and under the pressure of the directors' attention in the entire meeting room, helplessly grinned: "It is our top 20 major shareholders who are reducing their holdings ..."

As soon as the words fell, everyone in the conference room cast their eyes on the LCD TV that was already aside. Andy Smith's framed sunny smile and the handsome face with a bright smile made everyone in the audience feel cold. chill.

They know that the effect and impact of Andy Smith's move began. This time, Qualcomm's stock price really seems to be hitting the prototype!

At the same time, what is even more ugly than the faces of Qualcomm's board of directors are the heads of several Gan-based 'white knights' who attacked Andy Smith's hostile takeover, and watched the US stocks plummeting across the board. Qualcomm's stock price of about 35 dollars, from showing off with laughter, to being completely panicked, began to stop shipping losses, hoping to reduce losses, and then after a big deal, low-stakes chips can be.

The idea is very good, but unfortunately, how can they guess, a series of big meals prepared by Andy Smith for them were sent to them one by one.

After an economic forum program on the nbc TV station discussing the future of the financial crisis, several leaders in the economics circle publicly dissatisfied and questioned the need for a 'bad bank'.

Immediately before the market closed in the afternoon, market rumors and rumors spread in Washington that the government's plan to set up a "bad bank" was worrying, so the market fell again led by financial stocks.

At the close, the Dow Jones index fell 2.82%. The Nasdaq Composite Index fell 3.08%. The S & P 500 fell 2.28%. . .

Watching Qualcomm's stock price fall to about $ 34, whether it is Qualcomm, or several 'knights in white', at this time, it can be imagined that their faces are pale and they try to sell the stock. Unfortunately, When many institutional shareholders sold, panic stampedes had already occurred, and they were all selling, and Qualcomm's stock price was completely suppressed!

"Oh ... don't worry, the show is still behind!"

In the lobby of Liberty City Investment Company, Andy watched Qualcomm's stock curve and current stock price displayed on the big screen of US stock data, his eyes flickered and he smiled happily.