At the beginning of the negotiations, the bomb Arthur threw out really surprised the five controlling shareholders of Amc. They originally thought that the British man on the other side were already fish on the chopping board and could be slaughtered. Now it seems that the other party's determination to acquire Amc is not as great as they imagined.

The marginalized AMC management representatives during the negotiations were serious and indifferent from beginning to end, as if this negotiation had nothing to do with them.

Although the attitude Arthur showed did play some role in the negotiations, there was still no way to change the fearless and confident attitude of the five controlling shareholders, especially when it comes to debt and IPO issues, they are not compromised at all.

It was stuck at the beginning, and there was almost no progress in the two-hour negotiations. This made Arthur feel helpless and angry about the five major holding funds that he would like to buy at our price. He thought it was expensive and he would not buy it.

"This group of greedy assholes!"

Arthur, with a gloomy face, took his men out of the building where the Tiantang Holdings Company was located and got into the car. He couldn't help but curse angrily. Although he was mentally prepared, he did not expect that these group of Wall Street vampires would be so arrogant, greedy and crazy.

Not only did the equity price of $1 billion refused to lower, but they wanted to throw it to Arthur for the repayment of short-term debts. What was even more excessive was that they wanted Arthur to promise that if the acquisition was successful and the amc listing in the future, the bond issuance would be carried out by their five companies.

"I really think of me as a lamb to be slaughtered..."

In the carriage, Arthur narrowed his eyes slightly and sneered with a sarcastic look on his face. To be honest, this time, the acquisition of Amc Cinemas and fighting with these old Wall Street foxes will either lose an excellent business opportunity or become a god of war again.

He wants to lower the interest on new bonds as much as possible and extend the borrowing time as much as possible. At the same time, he has to face the cuts of five major private equity fund shareholders and minimize the trading price of amc equity.

He also knew that in the eyes of many people, even his subordinates believed that unless a miracle happened, his goal seemed almost impossible to achieve.

"Haha, help me have an appointment with Amc CEO Gary Lopez. I'll treat him to dinner and want to chat with him alone!"

Hearing the boss's order, the person in charge of the negotiations in the same car couldn't help but lit up his eyes and hurriedly replied: "I understand, I'll call the other party right away."

Arthur looked at the subordinate who took out his cell phone, raised his mouth slightly, leaned back on the seat, gently tapped the armrest of the seat with his fingers, narrowed his eyes slightly, and sneered.

To be honest, it is extremely difficult and extremely important to know yourself and your enemy in a multinational acquisition that is far away from the Atlantic. The management is an enemy or a friend, which is undoubtedly the top priority. In a merger and acquisition case, what countermeasures should the management take, whether to confront, observe the fire or cooperate? To a large extent, it depends on the buyer's attitude and actions.

In the history of mergers and acquisitions, buyers can use Thunderbolt to force them to withdraw, or use sugar-coated shells to lure them back. The term for mergers and acquisitions is "golden parachute", and can also be tied together to share interests, the so-called "golden handcuffs" plan.

Arthur had already thought about it that he would pull the members of the Amc management into his own camp and tie himself up with the management to acquire the Amc management team.

You should know that except for the management, no one knows the full picture of Amc's operations. Without the escort of the management, he would not have tried to acquire Amc.

Why is management so important? For buyers of mergers and acquisitions, a comprehensive and detailed investigation is simply impossible to leave management cooperation. Arthur can also be said to be a veteran in the acquisition industry. The initiator must understand his target company, because the final success of the merger depends on the acquirer to identify exactly how much debt the company can bear, accurately calculate which budgets can be cut, and which businesses should be sold to repay the loan.

Any mistake in decisions can prompt banks to request early recovery of loans, and these details are only known by management. Otherwise, wrong calculations or incorrect expectations can lead both parties to huge debts.

When acquiring the coastal power plant, Angela, his financial consultant, said that in some ways, mergers and acquisitions are like buying a used car. The annual financial statements and some public information of the acquisition target are like classified advertisements. These information, like advertisements, include a lot of useful information, but the experienced acquirer knows that a smart accountant can selectively disclose information based on the interests of the company.

Anjilai also explained that after the person who bought a used car reads the advertisement, he would also go to communicate with the car owner, check the car personally, and then drive the car around it for a few rounds. Compared with buying a used car, the buyer must accurately determine how many kilometers the car can run, what parts need to be replaced, and what maintenance and repairs to do in the future. If the car seller does not let the buyer kick the tires and see if it is strong, the buyer can only stay away from the used car.

If you want to take the initiative, you have to convince the management. Only in this way can you see all kinds of confidential information about Amc. Only with the help of management can Arthur know where to cut money, where to cut budgets without affecting Amc's operation, and which assets can be sold without affecting performance. Otherwise, he can only look forward to it outside the door or feel the stones across the river.

Of course, according to US law, the acquired company must send someone to cooperate with Arthur's investigation, but there is no law that stipulates how much amc cooperates.

If management does not cooperate, the acquisition will be a disaster. CEOs of American companies also understand this truth: wealth does not depend on wages and bonuses, but on equity, and options are also possible. There is no need to miss the money.

Therefore, the breakthrough point of Arthur's acquisition of Amc is to find the management, show its trump card, and cooperate with the management frankly, but will never give up control of the company.

However, cooperation with management is also hindered. Amc's current private equity equity fund company once had an equity incentive, which was the 2004 stock option plan. If Amc's control is transferred, the equity incentive implemented by the previous shareholder will automatically fail, how do management's losses be calculated?

Of course, we will accept all the orders and provide cash compensation. Arthur will not be stingy in this regard. As long as we can convince the management to cooperate more effectively, so what if Arthur is proud of himself!

"Boss, Gary Lopez promised the appointment. He seemed to be surprised that we had come to him so quickly..."

"Accident? Not necessarily... You must know that any successful leveraged acquisition is inseparable from a series of data predictions, profits, sales volumes, and most importantly cash flow. These data can reveal how much debt a company can repay without affecting its operation, and these data are the key to negotiations.

For M&A, a correct bid price is everything, because the higher the price, the more debt a company will bear. Even the best company may be overwhelmed if its debt is too heavy.

And only the management of Amc, who is familiar with these data, is clearer that anyone who wants to acquire Amc cannot bypass them.

The five major funds are so slow to the management, and they will eventually suffer losses!" Arthur said with a sneer. In the previous negotiations, it can be seen that the five major controlling shareholders have been ignoring the management of the Amc. During the entire negotiations, Gary Lopez, who is the representative of the management, did not say a word, just like a listener who has nothing to do with him.

"But I am different, my philosophy is that everyone can make a fortune together! The benefits to management have never been a stopgap measure for success in M&A. The acquisition and listing of the coastal power plant is a good example, right? Next, I will throw them a complete set of compensation systems and tie the management firmly to my amc chariot..."
Chapter completed!