The roof leak happened to rain overnight.

It's not rain.

It's a knife.

If a company runs out of liquidity and borrows money to buy back its own shares, if the two appear separately, it is nothing, and almost all listed companies in the United States will buy back their own shares.

It's just that the purpose is different.

If the stock price is stable, that's bad news.

If it is a year-end performance, it is good news.

Apparently.

It's the middle of the year.

Yahoo is struggling to save its life, so the market is very strong and immediately reacted to the news, and many retail investors are ready to take advantage of the repo funds before they run out.

And after it was revealed that the capital chain was exhausted.

Bad news after bad news comes out one after another.

Yahoo was confused again,

“。。。 ”

It hurts, Yahoo's board of directors is angry and wants to scold his mother, but he can't find a punching bag, and now, Yahoo's several strategic mistakes have become marginalized existences, and the name is worth a little money.

They're quickly calculating what they have to sell.

It just so happened that Ali appeared in the field of vision.

Ali is not listed yet.

Market capitalization is not easy to estimate.

However, according to the amount of several financings, coupled with Alibaba's industry status and future prospects, the valuation given by Yahoo's relevant departments is about $7 billion, which is a more reasonable valuation.

Yahoo owns 39 percent of Alibaba's shares.

If it is sold at a full premium.

At least $3 billion, which is still a conservative estimate, but it is impossible for Yahoo to sell all of its Alibaba shares, at most half of which is worth $1.5 billion.

Compared to the billion dollars invested at the beginning.

It's also a lot of money.

And this time, the buyer is Tang Qing.

A rich man, they all want to 'knock on a fortune', therefore, the premium they put forward is 100 percent, that is, Tang Qing wants to buy half of the shares in their hands, and he has to pay at least three billion US dollars.

"I don't think it's appropriate. Yang Zhiyuan spoke up at this time.

The others looked at him.

Cast a bad look.

Yang Zhiyuan is Chinese.

They preconceived that this was speaking for Tang Qing, and Yang Zhiyuan gave an explanation very calmly.

"First of all, we want to make one thing clear, in the future, what is the relationship between us and Tang Qing? If the transaction is successful, he will become one of the major shareholders of Alibaba, will we have a grudge against Tang Qing?"

"Secondly, with such a high premium, will Tang Qing agree, if he gives up this acquisition, the small cooperation may also be lost, in that case, as Ma Yun said, we may miss an opportunity. ”

"Finally, and most importantly, if this transaction does not go through, not only will Yahoo's stock be in crisis, but also whether the next listing in Xiangjiang will affect Alibaba's stock price, which is a real question in front of us. ”

A few questions were thrown.

The meeting room fell silent.

"What do you think?"

Another founder of Yahoo asked.

"We need to first establish a consensus that the purpose of these shares sale is to obtain funds, at least so that Yahoo's operation does not have problems, and by the way, we can maximize the value of our investment. ”

"So, I think that 50 percent is a more reasonable premium level, more, Tang Qing disagrees, who do we sell to? SoftBank is impossible, Ma Yun will not allow anyone to independently control more than 50 percent of Alibaba's shares. ”

Yang Zhiyuan analyzed that Yahoo can decide how much money to sell shares, but Yahoo can't decide unilaterally who to sell, even if the island country SoftBank wants to buy it, Ma Yun will definitely not be willing.

As soon as these words came out.

Many directors quit.

"It's only a 50 percent premium? It's too little, he Tang Qing is so rich. ”

"That is, at least ninety. ”

"Yes, I don't think a premium of two hundred is much. ”

“。。。 ”

Greedy.

It can make people lose their minds, Yang Zhiyuan sighed in his heart, the forest is big, there are all kinds of birds, especially this kind of Internet company with a complex shareholder structure, the quality of investors is really important.

Financing again and again.

As one of the two founders, he has less than four percent of the shares.

If you weren't the founder.

I guess no one listens to me.

At this time.

A major shareholder spoke.

"What Mr. Yang said is not wrong, if Tang Qing is introduced, it will be a great benefit to Ali's listing next, and now Tang Qing is already the richest man in China, if he says he is not optimistic and competes with Ali, we may lose even more. ”

"Don't forget, Tang Qing is good at creating miracles, and no one can say for sure in the future, but there must be a place for him. As for Xiaoxiao, after you understand it, you will find that it is very powerful. ”

Yang Zhiyuan gave a thumbs up to the major shareholder in his heart.

Finally, I have a brain that understands something.

Short-term benefits.

Long-term benefits.

The trade-off between the two.

is the core that Yang Zhiyuan wants to emphasize.

"Xiaoxiao, what's so powerful?"

"It's just a small piece of software, Ali can do it, and we can do it too. ”

"This is the investigation report of Tianyan, you can take a look. ”

Yang Zhiyuan sent a document to the people who were doing it, which he had investigated several days ago, which included the business model and share of Tianyan Group in the world, as well as a small evaluation report.

Ten minutes later.

Read.

They were silent.

Ali is able to do it.

Yahoo can do that too.

But.

People have now become the climate, and they are growing by leaps and bounds in the international market, and Yahoo is following suit, and it's too late, people are simply growing non-stop, and it's not their specialty.

As for Ali?

Is Ma Yun willing to fight Tang Qing to the death?

Will this solve Yahoo's funding problem right now?

The answer is no.

"Xiaoxiao, it is estimated that in Ma Yun's view, just like Qingyuan Technology, which has not yet announced the 'era', once it is released, the sky will fall apart and the market will be reshuffled, so I am very optimistic about this cooperation. The independent shareholder confessed.

"You say, how about we exchange Ali's shares for Qingyuan Technology's shares?"

And then.

Others were moved.

But most people look at him like idiots, Qingyuan Technology? Let's not talk about the future prospects of this company, let's just say that you have changed shares, how to solve Yahoo's current financial problems?

Do you give money?

Therefore.

This proposal has no point in discussing directly.

At this time.

Yahoo's shares are also displayed on the wall in real time, looking at such green lines, they feel distressed, in just two months, the market value has evaporated by 20 billion US dollars, which can be said to be painful to the bottom of their hearts.

Today.

It's possible to record the biggest one-day drop since Yahoo went public, and looking at the number of shares outstanding, they expect that the decline will soon stop because... The shares they bought back were not sold.

Other words.

They will soon be the last ones to take the offer.

Therefore.

It's not going to fall in a short period of time, but don't think about going up.

"I agreed to sell half of Yahoo's shares in Alibaba, but at a 60 percent premium, which is our bottom line. Eventually, after another founder weighed in, Yahoo's board of directors passed the resolution.

。。。

The news was sent back home.

Ma Yun personally called Tang Qing.

This price.

Tang Qing didn't reply, 20% of the shares are still a bit small, but, plus Ali and Xiaoxiao's share swap, after this time, he should be able to grasp about 30% of Ali's shares.

As for the remaining Alibaba shares in the hands of Yahoo and SoftBank.

Tang Qing was not in a hurry.

Next year.

The financial crisis, he will make the two parties spit out some more, especially Yahoo, which has now become the receiver of his own stocks, and with his money, it can be maintained until next year, but that's all.

After next year.

Yahoo.

It is estimated that he is going to file for bankruptcy, and for Tang Qing, there is actually another choice, that is, not to cooperate now, and wait until Ali's stock price plummets next year, but he still did not choose to do so in the end.

It's just a little money.

What are you doing with that complicated?

We're not short of money.