American Scandal King

Chapter 310 Negotiations with JPMorgan Chase (Part )
In the small reception room, four big men gathered together and had a pleasant conversation.

Most of the time they don't talk about business, but about other things.

Ian personally likes to talk about love and romance as a way to liven up the atmosphere, but unfortunately he is facing three old men.

The old man is in poor health and has little interest in romance. He prefers to talk about life, which includes work.

At this moment, Charlie Munger said, "I've recently fallen in love with Chinese tea ceremony. Although the bitter taste is difficult to take, it has a long aftertaste. Sometimes life needs a little bitterness, and the memories of hardship always last longer."

Ian said, "I brought back a lot of good tea from China last year. I wanted to give it to people, but most Americans don't drink tea, so I don't have any to give to them. Mr. Munger likes tea? That's great! I'll arrange for someone to send you some tea and a nice teapot."

Charlie Munger asked, "Jingzhou Gu?"

Ian laughed. "So you knew that too? Sorry, I didn't buy his teapot. I'm not very knowledgeable about art. I only bought teapots based on the styles I liked. I had a teapot with a handle that only cost me 10,000 yuan. It's not very valuable, but the style is nice. It's just a little troublesome to clean, but you don't have to do it yourself."

Charlie Munger smiled and nodded: "Then I'm welcome."

Ian waved, and the new secretary came over and bowed.

Ian said, "I'll send my Double Dragon handle teapot to Mr. Munger later, along with some tea. One for each person, and a teapot for each."

The secretary took note and stepped away.

Sandy Weir smiled and said, "Thanks, Ian. By the way, is your Karl Media accepting financing now?"

Ian immediately said, "I accept, but not now. Do you know that the current investment business of Karl Group has surpassed that of Karl Media? In fact, I am also actively looking for good investment directions."

Jamie Dimon immediately said: "Then you still need funds."

Ian laughed heartily, completely oblivious to the slap in the face. "If it's simply a matter of funding, First Lino can already meet my needs. Let me put it this way, Jamie, I've never just needed funds."

Jamie Dimon nodded: "Of course, finance has a huge influence, but you also said you would not get involved in the financial business."

Fake!

I hate negotiating with smart people.

Ian spread his hands and said, "Of course not, but it's always convenient to have your own people."

Jamie Damon immediately said, "The key is which part is convenient."

Which part?
Of course it was directed at the Jews.

Damn, Sandy Weir was there.

Although he is not a Zionist, it is obviously not right to say that I can't stand Jews.

Ian smiled and said, "When doing business, you will inevitably encounter various situations. You will have friends and enemies."

Jamie Dimon understood. He smiled and looked at Warren Buffett. Buffett shrugged and said, "Why don't you consider buying a stake in Berkshire Hathaway?"

Ian replied: "Because Berkshire Hathaway hates dividends."

Buffett: “…”

Under Buffett's management, Berkshire Hathaway has indeed developed rapidly, but there is a very important reason for this, that is, Berkshire Hathaway almost does not distribute dividends.

No matter how much money they made, they kept it on the books. At one point, the company's account income reached hundreds of billions of funds!

I just don’t want to share the money!

Of course, there are many reasons why he doesn't distribute dividends, besides being seriously cash-starved, another reason is to avoid dividend taxes. But I don't care what your reasons are, the key point is that I don't get the money!

You have to know that although Buffett is called the God of Stocks, his company's actual annual return is only about 20%... This is already very good in the financial industry, but for Ian, this rate of return is still too low.

If you are willing to share the dividends, I can invest a small amount and use the dividends to repay the interest.

If you don't distribute dividends, I can only rely on selling stocks to make money, which is equivalent to forcing me to hold on to the stocks for a long time to gain volume. I am not satisfied with your rate of return, and there is not much room for appreciation in the future. Of course, there is no need for that.

Jamie Dimon understood what he meant and said with a smile, "It seems that your thirst for funds is even greater than one might imagine."

This time it was Ian's turn to be speechless.

After a while, he smiled and shook his head: "Tell me what you need, Jamie."

Jamie Dimon is finally done pretending.

He said directly: "Warren and his team are willing to take over Vanguard Navigation, BlackRock and State Street's shares in JPMorgan Chase. We can become one family. But JPMorgan Chase must be the leader!"

No wonder they're here; in a sense, this is a small board meeting.

Although Ian never said that he was targeting Jews, his attitude can be seen from his decision to drive out Jewish-controlled fund companies such as Vanguard.

Fortunately, Sandy Will did not stop him... because he would be the beneficiary, and companies like Pioneer Navigation currently have no ability to resist Ian Carr.

They must withdraw, or they will have to be careful of Ian Carr's methods - the Chechens are dead, and these people have realized that this may be Ian's revenge for the airport bombing.

Oh, they already understand what kind of stupid thing Tima Company has done.

Unfortunately, there is no way to explain this matter, so I can only bow my head obediently!

Ian immediately said, "The board's charter cannot be modified, and the authority of the major shareholder will remain unchanged. Daily affairs will continue to operate as before. Gaskell will be responsible for some of First Lino's business and will also serve as chairman of the board. You will remain CEO, and my shares will be handed over to Gaskell! As for the vice chairman, you decide!"

Ian can give Jamie Dimon more power, but he can't give up the chairmanship of the board.

Everyone looked at each other.

Jamie Dimon thought for a moment and said, "Berkshire Hathaway and Travelers Group will have board seats. Only one of you and Gaskell can be on the board." Ian nodded, "That's fine!"

It’s the equity that speaks, not the number of people.

Of course, when the board meeting actually takes place, if most of the twelve directors think that this matter is inappropriate, it would not be appropriate for the chairman alone to rely solely on equity to suppress the other party.

So the number of people is still meaningful to a certain extent.

But Ian doesn't care. I'll kill anyone I don't like.

Jamie Dimon said: "First Lino is valued at $680 billion. JPMorgan Chase will pay $350 billion to First Lino shareholders."

Ian shook his head: "That's impossible."

With this operation, First Lino is equivalent to being sold at a low price, and it is a true acquisition of First Lino by JPMorgan Chase.

Ian wants a full merger.

Jamie Dimon sighed: "If you don't do this, your equity will be too high."

Although JPMorgan Chase has a market capitalization of $700 billion, 70% of their shares are on the stock market, while other shareholders only hold 30%, which is equivalent to only $210 billion.

Ian's shares in First Lino are now equivalent to 280 billion. After the merger is completed, his shares alone will be equivalent to all JPMorgan Chase shareholders.

This is also the reason why JPMorgan Chase insisted on providing part of the funds, and it is also the biggest dispute between the two parties.

At this moment Ian thought carefully.

Jamie Dimon is a very capable person, and it was he who helped JPMorgan Chase rise to prominence. Without his support, the merger would likely have failed.

What Jamie Dimon is worried about is nothing more than the problem of power falling into the wrong hands.

With this in mind, Ian said, "I can divide my shares into two parts, half held by Gaskell and half held by you. However, the valuation of First Lino cannot be lower than 720 billion."

I bought Meiyi cheaply, but that doesn't mean the price will be lower during the merger. When you acquired Meiyi, you calculated its value at 580 billion, and now Linuo's value is 720 billion... The increase isn't that much. Who says I have eyes?
Jamie Damon looked at him in astonishment.

What the hell!

This bait is too big.

Although Jamie Dimon is powerful, he is essentially a steward, not the boss - JPMorgan Chase's equity is very dispersed, and there is essentially no core boss, so he as CEO is particularly important.

Ian's willingness to give half of his shares to Jamie Dimon for holding on his behalf means his respect and commitment to him, and is also the biggest bribe.

Unfortunately, at this moment, Sandy Will whispered, "James Pelley also held your shares on your behalf, right? But you eventually separated."

Fake!

Jews are so annoying, even if they are not Zionists, they are still annoying!
Ian smiled slightly. "Do you know about the documentary? Just for 100 million... It's a very sad story. Mr. Will, I'm not one to attack my friends! But even so, James Pelley and I still maintain a certain personal relationship."

This is true. James Pelley did not turn against Ian because of this, and the two still occasionally interact with each other.

Have no idea!

Murdoch and Ian are good friends, and he has all kinds of negative information of his own. How can you not bow your head?

Hearing this, Sandy Weir shrugged and smiled, "I'm fine."

At least you know when to quit.

Jamie Dimon said, "You have to sign an agreement that sets a time limit for redemption. Once you achieve a certain contribution, you can continue to hold your shares. I heard that you allowed Steve Jobs to hold your Apple shares indefinitely?"

Ian smiled. "I'm sorry I can't give you unlimited ownership rights, but I can sign an agreement with you, as long as we add some normal redemption clauses."

For example, you must not break the law. As long as you don't cheat me, Jamie Damon, you won't repeat the mistakes of James Perry... I don't believe you can be a saint.

There are no saints among American businessmen, not even Gaskell.

So Jamie Dimon smiled and said, "In principle, I have no problem with that."

This means that the general direction is no longer a problem, and what remains are many details.

There is no need to rush.

At this moment, Jamie Damon shook his neck and said, "Do you need some after-dinner entertainment? Like girls?"

Ian raised his eyebrows and said, "I thought there wouldn't be any romantic stories when facing a few old men."

Everyone laughed.

Jamie Dimon said, "This is basic hospitality, Ian. There are many beautiful girls in New York. The beauties in the financial industry are not necessarily worse than those in the entertainment industry."

Ian nodded gently: "UTA also has a lot of good girls. I have a roster in my hand, you can take a look. I can pick you up on a special plane. This is called exchanging resources."

Bosses in the entertainment industry, especially brokerage companies, have a roster of their artists, which can be used to recommend actors to film and television companies, and of course can also be used for other purposes.

The old men smiled but said nothing.

As cultured people, they would not talk about such things.

Just do it.

(End of this chapter)