"I also believe that tomtom will rise again, which is one of the reasons why we acquired it. But it will never be this year. Mr. Albert must be consistent with our views on this." Cai Siqiang said with a smile. He no longer went around in circles and directly hit Albert's lifeline.

"I just don't know if Mr. Albert is like us, and has enough patience to wait for the resurgence of tomtom?"

"Well, I admit that our views are very similar on this issue, but in terms of price, a 15% premium is really hard to accept. I think 25% is a good number, and to be honest, this price is already our limit." Albert finally gave in to the trail.

Obviously, in terms of time, Albert's urgency is higher than Cai Siqiang. The late acquisition of Tomtom is just a loss of some opportunities for SAL, but for Albert, this is a very deadly moment. The annual financial statement deadline is very close. If 30% of the losses of this tomtom investment are entered into the statement this year, the performance ranking of the investment company will decline very significantly this year.

For investment companies, peer rankings are almost as important as lifelines. Each ranking of ranking means that the probability of investors' choices is several or even dozens of percentage points different.

"Twenty-five percent is still too high for us. You know that we are going to acquire the entire Tomtom company. The bid for your company also means a bid for public shares. Frankly speaking, the price we can accept is no more than a premium of 20% for the average closing price per week. That is to say, at the current price, the reserve price we can accept is 2.5 euros per share."

"If it is higher than this price, I would rather wait for a new opportunity. According to the forecasts of industry experts, tomtom's continuous losses in performance this year have become a foregone conclusion, and the probability of continuing to lose next year is also very high. What's worse is that after tomtom continues to lose, there will obviously be serious problems in cash flow. We are even considering whether it is more cost-effective to wait for Tomtom to buy the corresponding assets after bankruptcy."

Although Cai Siqiang was a threatening word, his words were half true and half false, and Albert was in a dilemma for a moment.

The premium is 20%. The company's investment in Tomtom still suffers about 10% losses, that is, a loss of nearly 10 million euros. This is of course a very uncomfortable thing for the company. However, it can reduce the loss of 20 million euros, and the company's investment income this year can still remain above the positive number. It is still very important for the company to enter the positive industry in the ranking.

Albert himself could no longer make a decision for such a major decision, so he had to request an interruption of negotiations and then continue after an emergency consultation with the company's senior management.

More than two hours later, the negotiations resumed. Considering the huge influence of the company's annual report, the senior management of the investment company finally agreed to accept the new offer proposed by SAL and transfer 17% of Tomtom shares in an agreement of 2.5 euros.

Sal's overseas M&A team was greatly encouraged by this unexpected and good result. The acquisition price of this agreement was ten points less than the original expected 30%. In this way, the funds in the entire acquisition plan will save tens of millions of dollars. Choosing a good M&A consultant is indeed very important. Although it costs nearly one million US dollars of consultant fees, compared to the money saved, these are just drizzles.

This time, the investment company negotiations were able to talk about the premium of the agreement acquisition price from 30% to 20%. M&A consultant familiar with the inside story of the investment company played a great role.

With this agreement as the foundation, the negotiation with Diabi is much simpler. After Cai Siqiang examined Diabi's past manager experience, he believed that Diabi was a talent for career, so the negotiation was not focused on the price of the stock.

Instead, we exchanged the development strategy of the new company after the restructuring, and found that what the two saw was probably the same. Now the two felt that they met too late. Especially after Diaby saw the navigation instrument project samples developed by Cai Siqiang, she was full of confidence in the acquisition of SAL. According to the two aspects of reducing costs and launching a new leading product, the future of the new company suddenly became very optimistic.

Therefore, for the olive branch offered by Cai Siqiang, Diabi happily accepted the position of the new company's CEO position. Most of the shares held were converted into cash according to the premium of the SAL and the investment company, and a small part was converted into shares of the new company.

After completing the acquisition of these two shareholders, the M&A consulting team released news, claiming that because they were not optimistic about the future of Tomtom, the major shareholders transferred their shares and signed a share transfer agreement. The new takeover company promised to purchase shares in common shareholders at the acquisition premium of the major shareholder, but the maximum acquisition limit is no more than US$500 million.

Market rumors believe that this is your last chance to escape. It is recommended that you actively seize this opportunity.

Then a few true or false analytical messages were released, which made Tomtom's ordinary stock holders full of surprise and doubt about the company. Compared with domestic acquisitions, the planned international merger and acquisition was not optimistic about this time, since SAL Company had no precedent in the navigation device field, everyone was actually not optimistic.

You should know that in international mergers and acquisitions, the success rate is generally 20% or 30%. Relatively speaking, the failure rate of mergers and acquisitions is much higher than the success rate.

Therefore, the reaction to acquisitions and mature foreign markets is actually very pragmatic. If the market feedback on the acquisition success rate is low, the price will not only not soar for the company's stock, but will sometimes plummet.

The premium is 20%, which is already a good profit for retail investors who entered late. Therefore, in the tender offer registration during the suspension period, many retail investors also took the opportunity to ship. When the suspension period of the tender offer ended, the total amount of shares acquired by SAL reached 135 million shares, accounting for almost 61% of Tomtom's total shares, and the acquisition cost more than 400 million US dollars.

In a position of absolute control, the shareholders' meeting initiated by SAL has completely reorganized the board of directors. Although Gerald tried his best to resist, the overall situation has been decided. The board of directors is reorganized according to SAL's intention. SAL's representatives occupy 4 of the 7 board seats. Diaby continues to serve as the company's CEO and occupy one director, which gives SAL's absolute advantage of 5 votes on the board of directors.

After this shareholders' meeting, Gerald realized that the situation was not good, but it was too late. The new shareholders' meeting not only kicked him out of the board of directors, but also rumored that Tomtom would implement major strategic adjustments, which directly shakes the company's development strategy he has always adhered to.

However, Gerald, who has become a minority shareholder, is powerless to stop the implementation of this new strategy.
Chapter completed!