At its peak in 2007, the bank had a market value of more than 60 billion pounds. At this time, if it wasn't for the suspension, it would have definitely fallen below 10 billion pounds, losing more than 80% of its market value.
However, compared to Lehman Brothers, which lost 99% of its market value and then went bankrupt, this bank was still lucky. At least the British government intervened and prevented it from going bankrupt.
However, it was very difficult to sell it. Those like Barclays Bank were also willing to pay 10 billion pounds, but the government had to bear the debt. Without debt, who the hell would sell it? This was clearly taking advantage of the situation!
Now, they had met a new buyer, a powerful buyer. This gave the bank's shareholders hope that they might be able to get out of this predicament.
They actually regretted it. When the bank's stock price was high, none of them were willing to sell it. They all felt that the stock price could be higher and they could make more money. But now, they had already lost money. If no one took over, they were afraid that they would all lose money.
The silver lining in the misfortune was that someone was willing to take over. At this time, they had another thought, which was whether they could sell it for more money so that they would suffer less losses.
People were like this. At that time, as long as they could sell it, they didn't care about the price. No matter how much they sold, they would always get a share. If they couldn't sell it, they were afraid that the bank would eventually go bankrupt, and they would not get a dime.
But when someone really wanted to buy it, who wouldn't want to sell it more? They were all once rich and powerful people. Now that the gap was so big, who would feel good?
"Potter, are you kidding me? 8 billion pounds, how can this price be possible? If we calculate according to the market value of the stock, it should be at least 14 billion pounds. I think 15 billion pounds is more reasonable, "said a shareholder.
Wasn't it normal to sell a company at a premium? Only a premium could make money. However, he ignored that only profitable companies could have a premium. Why would a loss-making company have a premium?
"Yes, even if 15 billion pounds can't be sold, it should at least be calculated according to the market value. I can also accept 14 billion pounds," said another pot-bellied shareholder.
Several representatives of the major shareholders spoke at once, accusing Porter of failing to negotiate properly. 8 billion pounds was too low. How much money could they get according to the shares?
Each of them had their own companies and needed funds. If they could get more funds, their companies would be able to get out of trouble sooner.
Potter looked at the ugly faces of the shareholders and felt bitter in his mouth. What kind of situation is this, and you're still thinking about such a good thing? That's right, they're buying the world's richest man, but the world's richest man is definitely a shrewd businessman.
Feng Yu had made it very clear that he had acquired this bank to make money. If there was no money to be made, why would people buy it? All of you still can't see the situation clearly. Why don't you find a buyer?
If our bank doesn't have any funds, we can only beg the government. Do you think the government will be willing to take care of it? At that time, wouldn't your shares be diluted and depreciated? Perhaps they would not be able to recover from this setback and could only go bankrupt in the end.
Isn't it good to be able to take the money and get out of here unscathed?
Potter waited until the shareholders were silent before he slowly said, "Since you all think I'm unqualified, then just dismiss me. Whichever of you has the ability can take this seat. 14 billion pounds. Which one of you can find such a buyer? "
These shareholders did not say a word. According to the contract, Potter had to be fired. Moreover, the amount was not low.
Besides, who would dare to take this seat now? It was clearly a pit, and whoever sat on it would fall into it. Moreover, it wasn't that they didn't find a buyer, but at this time, there weren't many buyers who could come up with so much cash, not to mention that the buyer still needed to prepare nearly 10 billion pounds in cash to save the bank.
The current situation of the bank was clear to the shareholders. Without those debts, let alone 15 billion pounds, they wouldn't even sell it for 20 billion pounds. But these debts and the bank's lack of cash left them with no other way.
In fact, the biggest shareholder of this bank was the British government. If it wasn't for the help of the British government, the bank would have gone bankrupt, unable to maintain its current market value.
They had seen the tragic situation of the banks in the United States. For example, big banks with assets of hundreds of billions of dollars had gone bankrupt. It wasn't that the American government didn't want to intervene, but they couldn't.
If they continued with this attitude, then Lehman Brothers might be a lesson for them.
"Mr. Feng said that he will take over all the debts and assets of the bank for 8 billion pounds, including the bank's employees. If these debts are on our heads, can we survive for another 6 months? If any of you can find even 6 billion pounds, I am confident that the bank will survive this crisis. At least it won't go bankrupt. "
"At this time, my advice to everyone is to sell the bank while it still has value. After taking the money, you can invest in other industries to earn back the money. If this continues, I am afraid we won't get a single cent in the end, and we will miss this good opportunity to escape. As for the specific decision, you all can think about it. Mr. Feng only gave us three days! "
The government representative of this bank was also reporting to the higher-ups. When the Chancellor of the Exchequer knew that Feng Yu wanted to buy this bank, he was overjoyed.
8 billion pounds might seem small, but it could allow the government to get back some money and reduce their losses. If not, they will need to invest a lot of money to keep this bank from going bankrupt. Especially now, they are seriously short of funds.
This way, they can solve the bank's problems and still have the spare funds to help other companies survive. It was killing two birds with one stone.
Feng Yu was reading the news in his room. The UK's economic situation was not much better than the US. Especially London, it was also a disaster area.
Feng Yu believed that the shareholders will eventually compromise. Although Feng Yu had lowered the price, the shareholders could not afford so much money at this time.
This bank had nothing to do with Feng Yu, and Feng Yu had no obligation to consider for them. Maximizing his own benefits was the right choice.
The next day, Feng Yu received a call from Porter. They had agreed and were waiting for approval from the higher-ups.
After hanging up the phone, Feng Yu smiled. This approval will not be stopped. If they were to stop the acquisition, the British would suffer losses.
At this time, the buyer was God in their eyes!
After this bank was acquired, Feng Yu would immediately send someone to take over and carefully sort out the bank's business. At the same time, he would also adjust the staff. After Feng Yu injected capital, he would be able to revitalize this bank and merge it with Minsheng Bank!
His bank's territory had more than doubled!
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