Yang Zhiyuan is cornered

Author: Wilderness Elegy

Yang Zhiyuan is cornered

Luck really came.

Early the next morning, Zhou Buqi got the definite good news from Ning Yaxian. Senior sister Zhen Yu was really pregnant. At least she tested positive with a test strip.

This is awesome.

Especially when he heard the congratulations from Sun Wanran, Ning Lu, Gu Zanli, and Yao Yao, Zhou Buqi felt that his whole body was filled with a sense of accomplishment, and he felt that he had a halo around him compared to having negotiated a large deal of business.

However, Zhou Buqi was not a selfish person. He gathered around the dinner table and said with a smile: "Okay, don't just congratulate me. Let's congratulate Miss Guzanli. Congratulations on her success last night...successfully"

I have completed the transformation of my life, grown up and matured into a big girl!"

"Congratulations!"

"Congratulations!"

Congratulations!

Even Yao Yao smiled and said sweetly: "Congratulations, that's great!"

Gu Zanli's face was like a big red cloth, but she was not too shy. She stood up and bowed to the two rows of dining tables, "Thank you, thank you..."

Ning Yaxian said to her jokingly: "Don't thank us, who should you thank the most?"

Gu Zanli was already sitting down, but when she heard this, she stood up again, bowed to Zhou Buqi, and said with a faint face: "Thank you, boss, I will continue to work hard."

Zhou Buqi waved his hand and said casually: "Don't be so formal. Let's sit down and eat. How are you today? Can you go out?"

Gu Zanli pursed her lips and said, "It's pretty good. It doesn't affect my feeling."

Zhou Buqi nodded gently, "Then let's go together."

When I went out today, the main thing was to meet Boss Ma.

Since everyone is involved, how can we not share a piece of the pie?

It is almost impossible to acquire Yahoo as a whole. Several of Yahoo's founders are not willing to sell their whole life's hard work at a cabbage price.

In its previous life, Yahoo was acquired by the American telecommunications giant Verizon for US$4.83 billion in 2016, which once caused a sensation in the industry.

The Internet giant that once had a peak market value of more than 200 billion US dollars finally ended up in such a miserable end.

In fact, it's more of layman's hype.

That's not what happened inside.

Verizon only purchased Yahoo's operating business, including portal, search, mailbox, video, etc., but Yahoo also has several other assets.

For example, there is more than US$4.5 billion in cash flow left on the account by cashing out Alibaba shares.

For example, at that time, it held 15% of Alibaba's shares and 35% of Yahoo Japan's shares. These were Yahoo's core assets and were not included in the sale.

Yahoo just sold its operating businesses, and packaged the remaining businesses into an investment company called "Alibaba", which took over the mantle of a listed company and continued to operate.

In terms of Yahoo's interests alone, it is right not to sell the company at this stage.

Yahoo's own business is indeed in decline, but its shares in Alibaba are its most important asset. As long as Alibaba skyrockets in a few years, it will be an unimaginable huge amount of wealth.

For Yahoo, the best strategy is to keep Alibaba's shares; for acquirers, the best strategy is of course the opposite, which is to find ways to get as much Alibaba's shares as possible.

From this point of view, the best solution is for Boss Ma to bypass the private operations of capital giants such as SoftBank, Blackstone Group, and Bain Capital.

Zhou Buqi wants to go over and conspire with Boss Ma.

Boss Ma has no money, and Alibaba also has no money. Even if they can borrow some money from international banks, it is very limited. If they want to acquire more Alibaba shares, they still have to find private equity giants to take over.

It's all about taking over anyway, so it's better to let Zhou Buqi take over.

Letting Zhou Buqi take over is also good for Boss Ma, as it saves a lot of unnecessary trouble. Moreover, he can plan together with this guy, instead of going it alone to challenge Yahoo, SoftBank, and Blackstone.

Group, Bain Capital and other forces.

The two parties still met in the tea room yesterday.

When they met, Boss Ma was slightly startled and found that the female assistant next to this boy had been replaced. Yesterday, the assistant Sun Wanran was as beautiful as a flower, and the Gu Zanli who came today was even more amazing, with fair skin and rosy skin.

, with big watery eyes, a tall nose, and a small cherry mouth, at first glance, he is an ethnic minority from the frontier.

I couldn't help but curse and scolded this bastard boy.

However, Boss Ma had seen this kind of thing a lot, so he didn't say much. He sat down to drink tea and got down to business as soon as he sat down, "I met Yang Zhiyuan last night."

"Oh? How about it?"

"It's very complicated. There are a total of 7 invitations before the Yahoo board of directors. Including the one proposed by Masayoshi Son today, there are 8 invitations in total."

"Has your plan been submitted?" Zhou Buqi was a little amused, "How is it? How much is the specific quotation?"

Boss Ma said: "At a premium of 25%, the overall acquisition price is US$20.2 per share, with a total value of more than US$25 billion."

Zhou Buqi shook his head, "It's still too low."

"Actually, it's not low anymore. Yahoo's original stock price was only US$13, but it has been raised to US$15 due to recent speculation. Sun Zhengyi's offer is US$20, which is a full 25% premium. It is already the highest offer among all invitation plans.

"

This is actually the biggest advantage of Boss Ma and Masayoshi Son when running the Yahoo case.

You can know yourself and the enemy, and you can learn from both inside and outside.

The bids made by other institutions for Yahoo should be Yahoo's business secrets. Such bidding is often not made public. Once the secret is leaked, won't there be a reference standard for the bidder?

But it doesn't work for Son.

Because Masayoshi Son himself is a director of Yahoo.

Therefore, the acquisition consortium composed of SoftBank, Alibaba, Blackstone Group and Bain Capital has far greater advantages than other consortiums and is the most promising force to succeed.

This is also where Son’s confidence lies.

Zhou Buqi disagreed, "The US$25 billion offer has almost halved from Microsoft's offer three years ago. This is such a huge blow that it is difficult for normal people to accept it."

"Times have changed." Boss Ma sighed with emotion, "For Yahoo now, this is already a sky-high price."

This is the "thrilling" part of running a company.

Just as he was rising, his building collapsed. Even ten years ago, Yahoo was still the world's largest Internet company, but in the blink of an eye, everything was gone in the blink of an eye.

If you have a bad mentality, it will be difficult to accept this situation.

Yang Zhiyuan's mentality has obviously been affected.

Without foresight, based on the current situation in the capital market and Yahoo's own development potential, selling Yahoo is actually the most risk-averse and correct choice.

But the real world is so weird.

Misfortunes are where blessings depend, and blessings are where misfortunes lie.

Yang Zhiyuan's mentality was unbalanced and he was unwilling to sell Yahoo!, but he made the most correct choice by mistake and saved part of Alibaba's shares. These Alibaba shares will be used by Yahoo's shareholders in the future.

Created huge wealth, not even less than Yahoo's wealth when its peak market capitalization was US$200 billion.

Zhou Buqi said: "Microsoft's quotation three years ago was a huge stone weighing on many people's minds. What is Microsoft's attitude now? No quotation?"

"The quotation was made, but Microsoft's strategy has changed." Boss Ma shook his head, "The main reason why Microsoft's quotation was so high three years ago was that Microsoft was focusing on search and launched Bing to compete with Google.

Use the traffic from Yahoo’s portal. Now that Bing has been launched for several years, the market novelty is gone, and Yahoo’s strategic significance no longer exists.”

Zhou Buqi nodded and said: "Another point is that in the transformation towards mobile Internet, Yahoo is moving too slowly."

Boss Ma said: "Microsoft has joined forces with Horowitz Fund and Silver Lake Capital to acquire 20% of Yahoo's shares, but the price is very low, only $16.6 per share."

Zhou Buqi smiled and said, "I really want to make you sick while you are sick."

Boss Ma said matter-of-factly: "The capital market is ruthless, and Microsoft doesn't want to give away money in vain. They want to influence the board of directors and have a say in the appointment of the next CEO."

"I'm going!"

Zhou Buqi felt that Microsoft was playing a bit harshly this time, and it was no different from slapping Yang Zhiyuan in the face.

20% of shares or something...actually 20%, 50% or 80%, the number actually doesn't matter.

What matters is power.

Once you have the power, even if you only hold 20% of the shares, you can still control 80% of the capital gains through the power of wealth distribution.

If Microsoft had the say in appointing a CEO, it would be equivalent to taking control of Yahoo.

Power only serves the source of power. The CEO appointed by Microsoft to operate from it, no matter who the CEO is, must serve Microsoft. Even if Microsoft only holds 20% of Yahoo's shares, it will be able to be controlled at the business level.

Treat it as a subsidiary of Microsoft.

This shows how dangerous Yahoo’s current situation is.

Boss Ma smiled and said: "For Yahoo, if you want to get money, you have to delegate power, or sell it as a whole to solve the burden once and for all. However, when it comes to the choice of delegation, if you only give up power to Alibaba, you can

Solving the problem is certainly better than giving up the power of Yahoo headquarters."

"That's what I said..."
To be continued...