Rebirth 79: I opened a bank in the United States

Chapter 639

When information is blocked, it often means that unknown risks begin to rise!
Sculley is not stupid to be the global president of PepsiCo and even be personally invited by Jobs.

While admitting that I underestimated the enemy at the beginning, I also retreated in my heart
The situation is already like this, if it continues, God knows what situation it will face!
This keen sense of danger made the phrase "suspend the HT acquisition plan" almost blurted out.And the core reason why this sentence can't be said completely. Of course it is.
5.72! !!
5.72 ah! ! !
PepsiCo made so much blood, not only bought HT’s high-priced stock from Morgan Stanley and KKR at a premium, but also borne so much interest on securities lending, as well as the capital retention cost of paying a margin
The direct economic expenditure starts at least [-] to [-] million, and there are associated risks.

Only then did the other party's stock price drop from 8.1 to 5.72
stop here
Sculley did the math:

It seems that it is not impossible to repurchase shares at 5.72 and snatch part of HT's right to speak.But with the switch from selling to buying, the relationship between supply and demand in the market will be directly reversed.If you want to acquire a sufficient number of shares, the final average acquisition cost should not be lower than $6.8 per share.minus the stock interest to be repaid
There is less to say here and another nearly 6.8 million US dollars has to be paid, and a small 4 million US dollars will be thrown into HT, which has a market value of just over [-] million US dollars based on [-] US dollars.Instinctively, it should account for [-]% of the shares, but in fact, minus the repaid shares and interest.There is also the stock in the hands of KKR and Morgan Stanley, which was acquired at a premium of nearly [-] million and has not yet been delivered.
In the end, it was just over [-]% of the shares!
Isn't this crazy? !
If it is such a result in the end, then what is the purpose of tossing such a big circle?
The direct and normal acquisition of stocks will push up the unit price of HT stocks and help the opponent increase the total market value.However, under normal acquisitions, with less than 15 million US dollars in cash, the shareholding in HT can reach at least [-]%, as long as it is not in a hurry.

And, once you choose to back down, stop doing it.Sculley still had to.
Because, this is already the best way to stop loss!

However, once this is done.I don't want to talk about the question that I seem to be very stupid, but just one question: how to explain to the board of directors of PepsiCo? !
Of course, I can say one thing: I'm sorry to the fathers of the funders, I, Scully, made a wrong judgment, thinking that the opposite was a soft persimmon, but it turned out to be an iron persimmon, which is a handicraft.It's not bad to be able to leave in one piece!Of course there are losses, but they are not considered traumatic.
Lier is such a Lier!

Even if it costs [-] million US dollars to lose all of it, in terms of Pepsi's size, although it hurts to the extreme, it is cash after all!But it really does not threaten the foundation of Pepsi.

What's more, if you operate in this way, the loss is far from that much.It's nothing more than spending more money, but getting less.Seriously, if you calculate the economic loss, in fact, about [-] million U.S. dollars is almost enough.
But here comes the problem, which is not a big problem for PepsiCo.But for Sculley himself, this is a big problem!

What is he?

Professional managers!

You made a mistake in your judgment and caused the group to suffer unnecessary losses.Are you incompetent? !

When the ability of a professional manager is questioned, this is already the biggest career crisis!Perhaps this defeat is not enough to be fired, but it is conceivable that my right to speak in Pepsi will definitely be affected in the future!
If you want to do something big, you will be questioned: Can you do it?fine dog (strike out)
Moreover, this period of black history may not exist in Pepsi.Even if it is job hopping, seeing such an experience.
Think about what Jobs said recently, and what Sculley knew very well, his own heart that was a little moved
Just throw in the towel and quit.

On Apple's side, Jobs' side, what would they think of themselves? !

People who stand at the fork in their careers will be more or less confused.Concerns will also quietly increase.
On the one hand, professionalism is crazily warning myself: something is wrong!This HT is very wrong!

The warning lights of unknown risks have already started flashing that shrill red light!
Can the other side:
5.72! !

5.72! ! !
Are you really willing to give up on this? !
From now on, I will add such an indelible black history to my resume, especially after the fact. If HT is really helpless.
what will you be called
Timid as a mouse Scully! !

Do you still want to hang out? !

You forgot, if this acquisition is completed, will your status after going to Apple be the same as your current status? !
Is it to change the world vigorously, or is it conservative and safe, timid and dawdling like a mouse? !

Demon No, it's not a whisper of a demon at all!

The person who can come up with such a ghost idea of ​​"Pepsi Challenge" and lead Pepsi to steal the market share from the hands of the old and powerful enemy Coca-Cola; the person who can be known as "the highest annual salary manager in Silicon Valley" in history.
To say that he doesn't have a gambler's mentality at all, or to put it mildly, it's called courage!

That is impossible!

As if he heard his inner cry, Sculley's expression gradually became firm:

"Notify the financial department to allocate another [-] million US dollars. Continue to borrow HT stocks and increase selling orders!"

The single share price has come to 5.72 US dollars for HT stock, borrowing margin is in accordance with the convention. Usually, one share is only 0.572 US dollars, which is 10% of the face value.

With [-] million US dollars down, you can borrow [-] million shares.
However, such a large amount of borrowing must not bypass Fidelity.Because, there are not so many stocks in the market that can be provided to Pepsi!
Not even enough stocks for Fidelity Investments
Everyone understands: it's time for the decisive battle!

"Carter, Pepsi has called! They offered 40% interest, hoping to borrow HT's stock from Fidelity!"

Before agreeing to lend the stock, Viktor Wilson, a representative of Fidelity Investments in HT, approached Carter.

"They spent another [-] million to borrow stocks. If they sell this order. Hehe, that old boy Scully must have a wonderful expression!"

"He couldn't resist the temptation after all!"

Carter sighed, as if lamenting for his opponent.

"Let's lend them all. I will also lend you 30% of the stocks that I have released, and let them pass them through your hands."

"Hahaha, it's easy to talk about! Just wait for this, in terms of interest."

"Give me 20%, and the rest is up to you! Thank you for your trust and support to me! May our friendship last forever! Three days later, I have booked a celebration banquet at the Holkin Hotel"

"Where is there! We, Fidelity, would like to thank you for your trust! You have firmly chosen Fidelity, and we will certainly not harm your interests! I wish us a happy cooperation!"

(End of this chapter)