Rebirth of the Capital Legend

Li Mingxiu was stunned for a while when he heard Su Yi's words, and then he reacted and replied: "Okay, President Su, everyone is still a little uncomfortable after coming here, sleeping and eating are not accustomed to it. The follow-up work will indeed take some time to evaluate and complete."

"Hey, you're quite smart, kid."

After hearing what Li Mingxiu said, Wang Huaijin gave him a symbolic compliment.

"Oh, by the way..." Li Mingxiu paused, and then said, "Boss Su, I heard that the shareholders of 'FXCM International' have contacted other potential investors during our assessment of the asset value of 'FXCM International'. I wonder...will this hinder our further negotiations and even the entire plan to acquire 'FXCM International'?

After all, according to Mr. Isaac...

The initial intended acquisition prices given by several other potential acquirers are higher than the guaranteed acquisition price we offered.

Although our organization has tried to relax other conditions as much as possible and has fully considered the original interests of the shareholders of FXCM International after the acquisition is completed.

However, these additional conditions are attractive to FXCM International shareholders.

No matter how you look at it, it's still not as good as real money.

Once an important shareholder holding a relatively large proportion of shares in FXCM International is shaken, he or she may lean towards other potential acquisition institutions.

It would be difficult for us to fully control FXCM International.”

Su Yi heard what Li Mingxiu said, smiled and said: "I am not surprised that the shareholders of 'FXCM International' contacted other potential investment institutions during this period. As for your concern that other potential acquisition institutions will give 'FXCM International' shareholders better acquisition conditions.

I asked Mr. Wang to investigate what I learned from Isaac about the institutions that are currently interested in acquiring FXCM International.

It was discovered that these institutions were unable to complete the acquisition of FXCM International with their own financial strength alone.

Among these institutions, except for FXCM International, the others have little interest in acquiring FXCM International.

And 'FXSIN International' was also affected by this round of 'Pound Black Swan' event.

According to our investigation, at this time, the internal capital chain, cash flow, and especially the cash reserves of "Forex Capital" are not sufficient.

Although they have a strong desire to acquire FXCM International, complete the integration of the two companies' businesses, and absorb the users that FXCM International has accumulated in the foreign exchange trading field for more than 20 years, they cannot come up with so much cash to save the current FXCM International.

The best option is to issue additional shares through private placement to acquire FXCM International.

Therefore, we don’t need to pay too much attention to this competitor.

Also, as you said, you are worried that an important shareholder of FXCM International is unwilling to sell his shares, or thinks that other institutions can buy the shares at a higher price.

There is no need to worry about this problem.

In previous negotiations, we have signed a preliminary letter of intent with the shareholders of FXCM International.

Only when all shareholders are willing to sell more than 75% of the shares in total, our organization will make a unified purchase at the assessed market fair value.

If this condition is missing, then the unified acquisition plan will naturally not work.

And we all know it.

As time goes by, without the intervention of external funds, the operating conditions and corporate fundamentals of FXCM International are in a continuous deterioration.

In other words, as time goes by, the actual value of the shares held by each shareholder of FXCM International.

It is continuously decreasing.

If the entire acquisition plan fails because an important shareholder is unwilling to sell his shares, it is equivalent to this shareholder damaging the interests of all other FXCM International shareholders who are willing to sell their shares.

In this case, I don't think we need to take action.

The other FXCM International shareholders will naturally try to persuade this shareholder who is unwilling to sell his shares.

In general, no matter how the situation changes in the future, no matter whether there are other potential acquisition institutions competing with us in the bid, we are currently in the active position.

So, don't worry.

What we need to do now is to proceed step by step and follow the plan.”

"Okay, Mr. Su." Li Mingxiu nodded.

After listening to Su Yi's analysis, he felt much more at ease.

"Although we intend to delay the time, we should not give others an excuse to think that we are deliberately delaying the time for formal negotiations." When Li Mingxiu was about to turn around and leave, Su Yi thought for a moment and emphasized, "When you lead the working group, you must pay attention to this point. Otherwise, in the subsequent formal negotiations, if our team is criticized, it will be disadvantageous for us to seize the initiative in the negotiations."

Li Mingxiu smiled and said, "Don't worry, Mr. Su, I understand and know what to do."

After saying that, Li Mingxiu left Su Yi's room and returned to the studio where the team was.

After Li Mingxiu left, Su Yi took out his cell phone and immediately called Isaac, saying with a smile: "Mr. Isaac, when are we going to the attractions you mentioned before? After coming down from the island, I find this place more and more interesting. At present, our team's assessment and audit work will probably take some time to complete. I want to walk around and take a look."

"No problem." Isaac said happily, "Then let's set off early tomorrow morning."

As for Su Yi's request, he simply felt that Su Yi was attracted by the local customs and culture and wanted to visit the surrounding area more.

I didn't even think about the interests involved in the acquisition project.

So, for the next few days.

Under the guidance of Isaac, the 'tour guide', Su Yi basically forgot about the acquisition and negotiation work. He was either sightseeing or sunbathing on the beach.

And in the meantime...

At first, the shareholders of FXCM International could still sit still.

While waiting for the final acquisition bid after the audit and evaluation by Huayi Capital, we continue to contact the previous potential acquisition institutions.

In contact, several interested institutions on Wall Street.

After hearing that the shareholders of FXCM International requested an all-cash acquisition and stated that they would only sell 75% of the shares of FXCM International in total, they basically did not even have a plan for further contact and directly rejected the requests made by the shareholders of FXCM International.

Finally, only FXCM International agreed to consider it.

However, when the shareholders of FXCM International believed that FXCM International would seriously consider the acquisition and propose acquisition conditions that were significantly higher than those given by Huayi Capital,

After another contact.

The institutional party of 'FXCM International' said that they could agree to a cash acquisition, but the price of the cash acquisition would only be 80% of the price of the fixed increase share acquisition plan, and the funds to acquire the shares held by the shareholders of 'FXCM International' would be paid in five years after the transfer of shares.

At the same time, the "Forex Capital" institution also stated that after the acquisition.

It is necessary to cut off the current non-core businesses of FXCM International, and even keep only the "market maker" business.

The proposal of these conditions was completely unacceptable to the shareholders of FXCM International. After all, to be fair, the adjusted acquisition proposal of FXCM International was not competitive at all compared with the acquisition proposal put forward by Su Yi.

"This is too much. This is really too much."

After completing the negotiations with FXCM, Noel said angrily.

"I've said it before, our old competitor, Forex Capital, is not trustworthy at all," Patrick said. "Relatively speaking, Huayi Capital is more reliable. Moreover, President Su of Huayi Capital personally led the negotiation team and came from afar, which shows his sincerity."

"But the guaranteed purchase price given by Huayi Capital is too low." Noel sighed and said.

Patrick smiled and said, "Don't forget, this is an all-cash acquisition. Under the conditions of an all-cash acquisition, a relative discount is probably inevitable."

"Forex Capital was also greatly affected by this round of the 'Black Swan of the British Pound Exchange Rate' incident." Stuart pondered for a while and said, "Although their overall situation is better than ours, they definitely can't come up with that much money to acquire us. This is why they proposed to pay in installments."

“Forget about the installment payment condition…” Noel said, “The key is that once we agree to Forex Capital’s acquisition request, FXCM International will definitely be changed beyond recognition by Forex Capital in the future. Moreover, after the two companies merge, FXCM International will lose the opportunity to operate independently, and our position within the Forex Capital Group will also plummet. This is something I cannot accept.”

"So..." Patrick paused and said, "Is it true that Huayi Capital is the only savior of our FXCM International?"

Stuart thought for a moment and responded, "That's not the case. We still have time to look for other potential acquirers, Noel... Didn't you say before that Barclays Investment Bank is also interested in FXCM International?"

"Mr. Reginald from Barclays Investment Bank did say something like this on the phone before," Noel replied, "but I don't know if they are still interested in FXCM International?"

Stuart said: "Call and ask."

Noel thought about it, and finally accepted Stuart's proposal and called Reginald.

When Noel took the initiative to mention that FXCM International was looking for investors or potential acquirers, Reginald still showed great interest.

However, the other party is considering the extreme difficulties currently faced by FXCM International.

They are only willing to offer an overall acquisition price of US$11 billion.

Noel had no interest in the overall acquisition price of $11 billion, so he didn't ask any more questions and ended the topic directly.

After that, the next two days.

Several important shareholders of FXCM International privately and proactively inquired several other investment institutions.

The response we received was that as time went on, the initial intended prices given by various institutions became lower and lower, and in the end there was even a bid of US$9.5 million to acquire FXCM International in full.

It was not until this time that all shareholders of FXCM International came to the rescue.

They just realized that with the passage of time, both the asset value of FXCM International and the value of the shares they held were depreciating rapidly.

I also realized that if I didn't sign a contract with Huayi Capital as soon as possible.

I'm afraid that in the end, Huayi Capital will not even be willing to pay the guaranteed acquisition price of US$10.5 billion.

Thinking of this, Stuart hurriedly called Isaac, who had recently taken Su Yi and his group for a stroll, hoping that he could persuade Su Yi to conduct the next round of negotiations with them as soon as possible and sign the corresponding letter of intent.

Isaac responded twice, and then told Su Yi about Stuart's idea. After learning about Su Yi's idea, he quickly called Stuart back and said, "Chairman, Mr. Su said that their team's evaluation data for our group has not come out yet. He wants to wait until the evaluation results come out before proceeding with the next step of the discussion."

"Didn't I ask Tashia to provide them with all the financial data?" Stuart wondered. "With Tashia's full cooperation, how come their team still doesn't have a comprehensive and accurate assessment data after such a long time?"

"Oh, I know the reason." Isaac said, "It seems that Team Leader Li, who is in charge of this business, and several members of his team are sick, so the progress of the work has been delayed. Just this morning, I saw President Su scolding Team Leader Li severely."

"Is that true?" Stuart asked in surprise, "When will their evaluation be completed?"

Isaac said, "That's not clear. I originally wanted to ask other people in our company to help with the audit and evaluation, but Mr. Su will definitely not trust us and will definitely use his own people."

"Chairman, we can't let time drag on like this." After hearing Isaac's words, Noel next to Stuart said anxiously, "The longer time drags on, the more disadvantageous it will be for us."

"Patrick, what do you think?"

Stuart didn’t hang up the phone, but turned his gaze to Patrick.

Patrick thought for a moment and said, "I think Noel is right. We have to complete the subsequent signing as soon as possible. The company's debt payment is about to expire. If we delay for another 20 days, our business will not be able to operate normally, and the employees' salaries will not be paid normally. There will definitely be big problems at that time. Moreover, once the payment is overdue, our company's reputation will really collapse completely. By then... our company and the value of our shares will probably shrink significantly, and it will become increasingly difficult for the company to survive the crisis."

"Okay, I understand." After listening to the two people's opinions, Stuart picked up the microphone again and said to Isaac, "Tell President Su that there is no need to wait for the subsequent audit and evaluation data. We accept the guaranteed purchase price he mentioned before, and are willing to sell the corresponding shares in our hands according to the preliminary intention agreement to promote Huayi Capital's overall acquisition of our FXCM International."

"Accept... the guaranteed purchase price?"

Hearing Stuart's words, Isaac on the other end of the phone was so shocked that he stood up from his chair.