1008 His Style Is Fierce and Sharp!

Stefano. Looking at the financial report in front of him, Pisner felt a headache.

As the patents of their prescription drugs expired in large numbers, a large number of generic drugs began to appear on the market.

Voegelin's sales of prescription drugs in the last quarter fell by 1.4% compared with the same period last year, and are expected to drop by 5.6% for the whole year.

According to this trend, the company's sales will shrink to US$6.8 billion by the end of this year.

The net profit is only 560 million, which is not even enough to pay off the interest on the loans.

If it is losing money this year, it will be hard to say what the stock price will be next year.

Think about the company's stock price, which has fallen from more than 80 yuan at the peak to less than 60 US dollars now.

It fell by more than 20%, and it also gave up the throne of the number one pharmacy chain in the United States.

Just thinking about these Stephanos gave me a headache.

In the 1960s, their Pisner family acquired the Voegelin pharmacy chain from the Voegelin family.

And in the following thirty years, he has been working hard to develop the company and develop this chain drugstore.

It once developed into the number one drugstore chain in the United States.

It even set a record of continuous profitability for 100 years, and this record was not broken until 2006.

The reason for the loss at that time was also because the company borrowed money to buy land nationwide and open new stores to expand.

And just a few years later, they plugged the hole and turned a profit.

However, in the past three years, they have paid the price for their strides, and they have suffered consecutive losses for two consecutive years.

And looking at the current momentum, there is no intention of stopping at all.

Stefano was also getting annoyed at this time. He was already in his forties and really didn't want to continue in this business.

In fact, he didn't like this industry at first, but because of his father's expectation, he came back to inherit the family business reluctantly in the end.

Now he has exhausted all kinds of methods, but the company's operation still has no momentum of improvement.

This has exhausted the last bit of his patience, and he has no intentions to continue.

He just wanted to take advantage of the company's current scale, and then transfer the store.

But the shareholders in the company still have some differences in their thoughts on him.

As the company's largest single shareholder, he holds 40% of the company's shares.

Another 40% of the shares are in the hands of some financial institutions and private investors.

Some of these people also agreed with him to sell the company. As for the ideas of the other 20 percent of retail investors, that is not important.

Stefano had also contacted private equity giant KKR to discuss the possibility of privatization before.

However, KKR had just failed in the acquisition of a Texas utility project, and the loss was not small.

So I don't have much interest in taking over Voegelin, after learning about KKR's attitude.

But Stefano is worried, KKR is unwilling to take over, they are looking for someone else, it will be too difficult.

After all, everyone knows that Voegelin still has about 18 billion dollars in loans.

With so many foreign debts, who wants to be taken advantage of?

What's more, the competition in the chain pharmacy market is so fierce now, after Voegelin lost a large number of exclusive prescription drug agency rights.

Market share has shrunk a lot, and their strongest competitor, CVS, has been eyeing it.

So even if Stefano had been rumored to change hands for a long time, no financial institution expressed willingness to take over.

But fortunately, KKR has worked with them before, which is quite interesting.

He promised him that he would help him find a suitable receiver in the capital market, let alone, in less than a month, he found him.

The other party is a capital from Huaguo, which is very interested in acquiring Voegelin.

And when he learned that the other party was from the capital of Huaguo, Stefano immediately got excited.

These days everyone knows that Chinese people are rich,

And if they are willing to take over.

Voegelin can still fetch a good price.

Sure enough, he offered the other party a price of 55 billion U.S. dollars based on the market value at the time, and the other party did not bargain.

But the other party put forward several conditions, one is to abolish the pharmacists in the pharmacy.

The other is to drive out the trade unions.

And Stefano has also done a lot of hard work in this area recently, but unfortunately none of them have been made.

No, the financial report for the latest quarter has come out today, if the financial report is announced today.

Then their stock price will have to fall by five percentage points, or even ten percentage points.

If that's the case, then the company's stock price will not be able to remain at 55 billion US dollars.

Thinking of this, Stefano felt a headache.

After a while, his phone rang, he picked it up and said a few words, then got up and drove away from the company.

The meeting place was in a villa in Chicago's Highland Park.

This villa is very large, covering an area of ​​more than 20,000 square meters. It is the private residence of the local Locke family.

Next to it is the 29 million mansion of Jordan, the most famous trapeze man in Chicago.

Stefano also has a villa here, but the area is smaller.

To be honest, he doesn't like Chicago very much because it's too cold in winter.

He prefers sunny Florida.

The person who asked him out to meet today was the SPU private equity fund that he had contacted before. The full name is Southern Cross United Private Equity Fund.

This fund is also not well-known, and it has only been established recently.

Stefano guessed that this should be a Majia fund established by Huaguo Capital to acquire Vogreen.

But I don't know what the other party's background is, and he was able to rent the Locke family's mansion.

Just as Stefano parked the car, a guy with an Asian face came up.

After asking about his life, he glanced at him a few times.

It was also strange, although he was wearing thick clothes, but under the attention of that guy, Stefano felt as if he was not wearing anything at all, and it was chilly.

After a while, the cold-faced housekeeper took him into the mansion.

I came directly to the living room on the second floor. There was a fire in the fireplace in the living room, and there was a fragrance of burning turpentine in the room.

In Chicago in April, spring is still far away.

Soon Stefano saw a tall, smiling Asian young man walking up to him.

"Hello, Mr. Pisner! Nice to meet you!"

"..."

Stefano soon exchanged pleasantries with the other party. For this transaction, he had learned some Chinese beforehand.

This time it just came in handy. Although his Chinese is poor, the other party was very happy after listening to his plastic Chinese.

After exchanging pleasantries, he knew that the young man on the opposite side was surnamed Xiao, and there were a few white men behind him, who should be his team.

It is obvious that this young man surnamed Xiao is leading the negotiation this time.

As for his style, Stefano only has two words to describe it, that is: vicious and fierce!

"Mr. Stefano, I want to ask you, do you still want to continue with this transaction?"

Xiao's question was even more direct than that of the Americans.

"Huh? Of course I want to continue!"

"Okay then, please tell me about our previous agreement, what progress has been made on your side?"

"Well, I have persuaded more than half of those small and medium shareholders, more than 80%, to agree to our privatization."

"And willing to trade at market value..."

Stefano's only thought at this time was to get rid of Voegelin as soon as possible.

Because the longer you hold it, the more the company will depreciate.

Bad marketing performance, and those non-stop pharmacists and unions.

The company is like this, they have been unwilling to leave the compensation, and even want to raise wages, I can go to Nima.

Stefano really didn't want to deal with those guys for a minute.

"Very good, now the company's stock price is 58 US dollars, you go tell those shareholders that we are willing to buy their shares at a price of 55 US dollars, and complete the privatization as soon as possible..."

Hearing what Xiao said, Stefano jumped up on the spot.

When people privatize their companies, they will buy them back at a premium.

How can you be like this? Not only is there no premium, but the price is also reduced!

"Mr. Xiao, isn't your offer too low? I... those shareholders will definitely not agree?"

Stefano originally wanted to say that I disagree, but he changed his words to save room.

But Xiao Feng on the opposite side smiled coldly, he took out a research report and threw it in front of Stefano.

"Here is your latest financial report. If you say this financial report is released, how much will your stock price fall?"

"Five percent, or ten percent?"

"I think I am quite sincere in purchasing the stock in your hands for $55."

"This is already a premium acquisition!"

Stefano picked up the research report and glanced at it, which happened to include the company's latest financial report that he had just seen before he came.

Needless to say, people inside the company are already in panic, and the financial side has been infiltrated by others.

That's why this financial report came out so quickly. It only took an hour to make a research report based on this financial report.

What does this mean?

People have thoroughly understood Voegelin!

55 US dollars, this offer is a full 20% lower than his previous offer.

That is to say, the price he proposed before was 55 billion US dollars, and now the overall package price they can offer is 44 billion US dollars!

That's 11 billion less in one fell swoop!

Stefano's face was cloudy and uncertain for a while, after all, he would be in pain for a long time without so much money.

On the other hand, Xiao Feng began to increase his size.

"Based on Voegelin's current operating conditions, I estimate that you will continue to lose money by the end of this year. At that time, you said that your stock price will continue to fall?"

"Maybe by next year, it will be worth 20 billion U.S. dollars."

"Wait until that step, how far are you going to be insolvent? It is estimated that in a few months, you can file for bankruptcy."

"So, I hope you're thinking about it."

On the other hand, Stefano's face changed drastically at this time, because he knew that Xiao Feng's words were definitely not scaremongering.