At about 14:00 in the afternoon, Sohu held a press conference.
Mr. Zhang attended the meeting together with Chen Yu, head of Quantitative Capital, and officially announced that Sohu would sell all its shares in Sogou to Quantitative Capital in a package worth US$3 billion in cash.
When Mr. Zhang personally announced this incident at the press conference, the reporters present exclaimed.
This deal, $3 billion in cash?
It is equivalent to about 18.8 billion yuan in RMB, and it is all cash.
At the press conference, Mr. Zhang said to a group of media people: "I rejected the decision to sell Sogou at first, but the quantitative capital gave me too much, and I really couldn't afford the $3 billion all-cash payment. Even Sohu’s shareholders cannot refuse.”
The media reporters present were stunned, their faces were blank, and they were shouting in their hearts, "What a guy!"
Everyone looked at the handsome young man sitting next to Mr. Zhang. Some reporters seemed to see two words on Chen Yu's face - rich man!
He should be given sunglasses and a gold chain.
Immediately afterwards, the two parties held a public signing ceremony. Both parties were afraid that the other party would regret it and quickly put this matter into effect. The efficiency of this transaction was as fast as light speed.
At this moment, it was already 14:27. The news spread to the capital market, and the stock price of Quantitative Capital plunged in response.
As soon as this news spread, it was regarded as negative by the capital market. Just a while ago, it crossed the border to play graphics cards and the stock price crashed. In the end, the company's stock price bucked the trend and came out of the second wave of the market. This is a performance that exceeded expectations. It can still be done now. Getting out of the third wave of market conditions relies on the high evaluation of God K.
If you don't do your main business of investment and trading, just worry about graphics cards, now you are going cross-border to build an Internet search engine? If this is still bearable, investors really can’t bear to spend 18.8 billion to buy Sogou Search.
Calculated based on last year’s net profit of 1 billion, it would take 18 years of net profit to pay for this transaction?
Around 14:34, major market software pushed messages:
[Quantitative capital plunged to the limit in the afternoon, and the current transaction volume exceeds 3.9 billion. 】
At this moment, the stock was stuck at the price limit of 62.21 yuan, almost out of the market. Quantitative capital has just entered the 100 billion club today, and its market value has shrunk to 86.969 billion yuan.
The 100 Billion Club experience card expires in half a day.
…
After the press conference, the deal quickly spread throughout the Internet technology circle and the investment circle, causing a sensation among industry insiders and many investors, who were all dumbfounded.
Mr. Zhang’s words at the press conference, “I refused at first, but quantitative capital really gave me too much,” became a famous scene. Netizens rushed to repost the second creation and turned it into a hot new meme.
The melon-eating netizens watching the excitement from the outside joked that the stubborn Mr. Zhang was still defeated by Chen Yu's "money ability", and the offer was really extraordinary. Even if the price was US$3 billion, it was still an all-cash acquisition. It is paid within one month.
Excluding exchange rate changes, US$3 billion is approximately 18.8 billion yuan, which is a cash payment.
No wonder Mr. Zhang couldn't refuse. As soon as they met in the morning, they made the official announcement and arranged the signing ceremony in the afternoon.
The investors who entered the market today to participate in the relay of quantitative capital were wailing. Everyone basically unanimously agreed that the third wave of the leading market was going to peak when the market hit the ground today.
Moreover, it has also achieved ten times the share price. With such a big sudden bad news and such a high position, no one dared to take over.
The most important factor is that when news of mergers and acquisitions comes out, the company will probably suspend trading.
We are currently in the stage of emotional gaming, and it is easy for everyone to take advantage of it. The atmosphere is the most important. The impact of this suspension on our emotions for at least a few months is self-evident.
After a few months, the popularity was long gone.
Therefore, as soon as this news came out, the expectation of a trading suspension greatly affected market sentiment, causing short-term gaming funds to be basically bearish.
At the same time, Goose Factory was also very confused. Even the management of Sogou Company failed to receive the news immediately, let alone Goose Factory.
Quantitative capital appeared halfway, and Goose Factory was very angry. This undoubtedly directly disrupted Goose Factory's original deployment plan.
I really don’t understand why Chen Yu bought the old dog at a sky-high price of 18.8 billion yuan.
Entering the search engine market?
Is this a cross-border addiction?
Not only does Goose Factory not understand the operation of quantitative capital, but many people in the technology circle and even people in the investment circle cannot understand it.
…
The next day, Thursday, May 30, the quantitative capital auction opened and the stock price dropped to 55.99 yuan, and the market value shrank to 78.274 billion.
People who entered the market yesterday, including two hot money players, were also bored.
On Friday, May 31, the last trading day of this month and this week, Quantitative Capital once again fell by the limit. The stock price fell to 50.39 yuan, a cumulative decline of -33.32% in three days, and the market value shrank by only 70.445 billion.
At around 12 noon, Quantitative Capital issued a major announcement: "Announcement on the Planning of Major Asset Restructuring Matters"
According to the announcement, the SOCL department of Xingyu Technology was completely packaged and split, and Quantitative Capital transferred 12.5% of the company's total equity and swaps. In addition, three domestic graphics card manufacturers, including Chip Micro, were merged and reorganized into Quantitative Capital. Capital, and Sogou Search were reorganized and merged into Quantitative Capital.
This major asset restructuring is progressing smoothly, the company will not be suspended, and the secondary market is trading normally.
This announcement exceeded market expectations, and trading was unexpectedly suspended.
As soon as the market opened in the afternoon, Quantitative Capital's stock price was quickly pried open, reaching a price of 53.63 yuan, and the decline narrowed to -4.21%. However, it then fell back again, and fell to the limit again in the last fifteen minutes or so of late trading.
The post was blocked again and the people who risked their lives to come in today were dumbfounded, and the comment section was filled with howls.
[I don’t want to play anymore, give me back my money and let me out! ]
[Surprise or not, unexpected or not? All that came in today were leeks! ]
[Chen Yu, are you making trouble? ]
[Aren’t you called Mr. Chen now? ]
[I just came in to do a relay, and I was beaten for thirty points on my backhand. Why are you so cruel to me...]
[Hahaha……]
[Asset restructuring, major benefits, number board (dog head to save life.jpg)]
[Counting board? Oh, you said to count down the floor, that’s okay... (face covering.jpg)]
[This is the first time I bought a stock for asset restructuring. I am speechless. I spent more than 18 billion to buy Sogou. I only bought the stock from Souhu instead of acquiring 100% of the stock. I am speechless. Other people’s restructuring votes were doubled. , the reorganization ticket I bought was cut in half. ]
[Don’t panic, it’s a technical adjustment. ]
[After taking the last shot, it dropped three times, admit defeat! ]
…
Meanwhile, Quantitative Capital Headquarters.
In the president's office, Chen Yu's assistant knocked on the door, handed him a document and reported: "Mr. Chen, regarding the acquisition of Sogou, the other small and medium-sized shareholders of Sogou want to transfer their equity to quantitative capital."
Except for Teng Xun, some remaining small and medium-sized shareholders are jealous and want to sell their equity to quantitative capital.
In fact, it's not just jealous, but also anxious to quit.
The company was bought by quantitative capital, and there is no telling what will happen in the future. The uncertainty is too great. At this time, quantitative capital is so powerful that selling the equity and evacuating is the wisest choice.
Mr. Chen smiled faintly and said: "Haha, you want to get something beautiful, and treat me as a big enemy of quantitative capital? If they want to sell it to me, they can price it based on the overall valuation of US$1 billion. If they are willing to sell it, we will buy it."
The purpose of setting such a high price before was to take control of Sogou in a flash without giving Teng Xun or others a chance to react. But now Souhu has packaged and sold all the shares it held in Sogou to Quantitative Capital. Have absolute control over the company.
Chen Yu will not be stupid enough to give away money for free. If he wants to concentrate his equity, there will be many ways in the future.
The most important thing is that Chen Yu judged that those small and medium-sized shareholders would definitely sell.
Because Quantitative Capital has no experience in search engines, it has no intention of keeping the company unchanged after buying Sogou, but will split it up and reorganize it.
Under such circumstances, risk control is too difficult, and investors generally don't dare to play with Chen Yu.
Chen Yu started his career in investment and trading. He knew that capital seeks profits and avoids disadvantages, and there is a high probability of running away, so he must have figured it out.
…
(End of chapter)
