Rebirth of the Strongest Tycoon

Chapter 874 Start the acquisition

The situation was as Xia Yu expected, Philip Brothers was surrounded by investors, and the investors were clamoring to get their funds back, even if they didn't want any income, just the principal!

But given the fact that Philip Brothers can't even get the security deposit, where can they get the funds for investors to claim back?

Therefore, Tendler Wells and other high-level executives are very busy. On the one hand, they are constantly dealing with investors who come to their homes and try their best to soothe their emotions.

As for projects with better investment conditions, they have not been cleared for the time being.

Because Tendler Wells and others are very clear that the company still has a certain value at present, but if all projects are cleared, it is accelerating its own death and cutting off the possibility of a comeback, because all value will be lost.

After all, Philip Brothers is actually insolvent, and the liquidation of all assets at normal prices is not enough to repay all debts. When there is an empty shell and a group of employees waiting to be paid, a fool will take over!

New York may be short of something, but it's not short of financial talent.

The financial profession is the first profession that Americans yearn for. There are too many financial talents at the middle and lower levels. The top elites may not worry about food, but the replaceability of the personnel in the middle and lower levels is too strong, and there is no shortage of powerful large-scale financial institutions. There are talents at the lower level, as long as the recruitment signal is sent, the candidates are like clouds!

In dealing with these matters, Philip Brothers still did not give up hope, and various directors frequently wandered Wall Street, trying to find someone to take over.

Philip Brothers has a reputation as a futures leader, and has accumulated a lot of information in the past sixty or seventy years. Of course, there are institutions that are interested, but they did not dare to take that step without knowing the real debt situation.

After all, Philip Brothers is valuable, but if the value is not enough to cover the debt, it will be a loss if it takes over!

What's more, taking over is not without risk. With the current market conditions of the futures market, taking over is not necessarily a mess, and it is easy to be dragged into the water if one is not careful.

In the face of this situation, many agencies have secretly promoted information sharing, digging into the bottom of Philip Brothers company layer by layer, and at the same time pushing the investigation team to first calculate the assets of Philip Brothers company in an attempt to obtain the most real business intelligence.

In a blink of an eye, it's the seventh day!

With mixed feelings of anticipation and anxiety, Kester Philip entered the Federal Reserve's office building again, and after waiting a few minutes, met Fed Chairman Paul Volcker.

"Mr Volker, I'm sorry to take up your time."

Kester Philip lowered his posture and said apologetically.

Paul Walker said with a smile: "It doesn't matter, it just happens that I'm not busy!"

"Mr. Volcker, I wonder if the proposal you said last time has any results?"

Kester Philip was in an impatient mood, and asked straight into the subject, with a very strong look of anxiety in his eyes.

He came to the Fed three days ago, and also met Paul Volcker, hoping to get help from the Fed to get Philip Brothers through the storm.

Paul Volcker did not give a clear answer at the time,

Rather, it said that it could be proposed to the committee and then answered to him later.

But there has been no result for the past few days. Today is the last day. Of course Kester Philip is anxious, so he visits again.

Paul Walker groaned, looking at the hopeful look in Kester Philip's eyes.

He shook his head slowly, and said when Kester Philip's eyes gradually dimmed: "I'm sorry, Mr. Philip, this proposal was not passed."

Kester Philip smiled reluctantly. He pursed his lips and asked reluctantly, "Can I know the reason?"

Paul Volcker, who had the scene discussed at the committee yesterday, glanced at Kester Philip, shook his head and refused: "Sorry, this involves the Fed's internal secrets."

Not only is he, the chairman of the Federal Reserve, unwilling to intervene, but also because there is a lot of opposition within the committee. As for the real reasons for the opposition of those bigwigs, Paul Volcker can also guess a little, but he wisely chose to ignore it.

Although he is the chairman of the Federal Reserve, he has more power than the president of the United States in financial policy, but he still has to respect the opinions of the vice chairman, the executive committee and the 12 chairmen of the Federal Reserve Bank. He is very clear about the nature of the Federal Reserve and his real Location.

Like this kind of financial policy that does not involve the general direction, and it is obvious that the boss has calculations, he will just mention it, and he will never take the initiative to intervene and confront, otherwise he is likely to be like the former chairman of the Federal Reserve, that is, the current Like Treasury Secretary G. William Miller, he was replaced after a year.

And his promise to propose is also a kind of temptation, taking the opportunity to observe some situations secretly. After all, he has only been in office for a year, and he still needs to further understand the complex relationship within the Fed.

"Oh, I'm sorry for making such an unreasonable request."

Didn't get the answer he wanted, and although it had been expected, Kester Philip was inevitably more lost.

Seeing Paul Walker looking at him calmly, Kester Philip took a deep breath and resolutely bid farewell.

Paul Volcker just escorted him out of the office door and turned around to handle his work. He also needs to find a way to adjust financial policy to further stimulate the economic market in the United States.

Speaking of Kester Phillips, before getting into the car, he looked back at the headquarters of the Federal Reserve, clenched his fists for a long time, and finally let go weakly, squinting his face in the car.

"Go back to the company first!"

...

As night fell, anyone who paid close attention to Philip Brothers knew that Philip Brothers failed to seize this last chance.

Sure enough, the next morning, the New York Supreme Court issued an order to freeze the assets of Philip Brothers, and Philip Brothers officially entered the asset liquidation process.

Subsequently, Deloitte Certified Public Accountants was appointed to take the lead in formulating the asset liquidation plan, and a liquidation group was formed by the management of Dewey Lubrizol International Law Firm, Standard \u0026 Poor's, the New York Exchange Commission and Philip Brothers to liquidate and announce the assets of Philip Brothers.

Then, the New York Stock Exchange temporarily delisted Philip Brothers.

The stock price of Philip Brothers is fixed at $1.58 a share, and the market value is fixed at $237 million!

At the close yesterday, the share price of Philip Brothers was still at $1.87 per share, but because it was determined that Philip Brothers would be liquidated today, the stock price plunged as soon as the market opened in the morning. Investors who did not report luck were even more desperate. .

But it was useless to give up, and no one took over the stock. With the temporary delisting of Philip Brothers, half of the investor's funds were tied up. If you want to go public again, you can only wait for Philip Brothers to become profitable again, but think about it. .

The remaining half may depend on whether there are institutions willing to buy from these investors offline. As for the price, it depends on the psychological price of both buyers and sellers.

The market value of 237 million US dollars is already very low. For the sake of insurance, Xia Yu immediately ordered Toby Moulton to dispatch.

Just when all eyes were on the liquidation of the assets of Philip Brothers, the employees of Jiuding Securities Co., Ltd. quietly took the shareholder list and the prepared acquisition plan according to the group, and found the shareholders on the list.