Chapter 951: Too much trouble

This night, Li Dong showed his majesty.
Yuan Xue, who tasted the forbidden fruit for the first time, slept open his eyes until noon the next day.
Looking at the strange ceiling, Yuan Xue woke up instantly.
The scene that happened last night flashed clearly in my mind.
His face changed for a while, Yuan Xue turned around and looked at his side.
There was no figure beside him, and Yuan Xue's face could not help changing.
Suddenly for a while, at this time, the bathroom door was pushed open, Li Dong came out wrapped in bath towels.
When Yuan Xue woke up, Li Dong immediately smiled and said: "Wake up? Hungry, I'll let the hotel boil some porridge, just fine.
Yuan Xue saw him, relieved at the same time, he thought that this guy had forced himself last night, and suddenly looked ugly: "You haven't left yet!"
Li Dong hurriedly said: "Why can't you have mobility issues? I have to stay and take care of you."
"hypocritical!"
Yuan Xue grunted and ignored him.
What happened last night, she didn't drink anymore, she knew everything.
The bed was all on, and I promised myself by pushing it halfway, and it would be boring to be hypocritical at this time.
Yuan Xuexiu frowned slightly when she remembered wearing clothes.
Upon seeing this, Li Dong hurriedly said, "Let's lie down for a while and get up after eating."
"what time is it?"
"A little more than 12."
"Help me get my clothes." Yuan Xue heard it all afternoon, and he threw his clothes all over the floor. He couldn't help but direct Li Dong.
Seeing her insist, Li Dong had to help bring the clothes over.
Yuan Xuegang was ready to wear clothes. After thinking for a while, he looked at him and said, "Go to the bathroom, I will wear clothes!"
Li Dongqian smiled and said, "You don't need it, both of us ..."
That's what he said, and everyone was ready to leave afterwards. As a result, Yuan Xue didn't let him go anymore, and put on his clothes.
Looking at the half-covered naked beauty in front of him, Li Dong was a little dry.
But at this time Li Dong is also thinking about it. Yuan Xue was tossed enough last night, and I'm afraid I can't bear it again.
...
Put on your clothes and wash briefly.
Yuan Xue didn't talk to Li Dong either, so he picked up his shoulder bag and left.
Li Dong quickly blocked her and said, "Where are you going?"
Yuan Xue frowned: "It's afternoon in the company."
"Which company are you going to now? I can't afford you anymore. I took a few days off and quit my job to go back to Jiangbei with me ..."
Before he finished talking, Yuan Xue stared at him and said, "Li Dong, don't think you're sleeping with me, I will depend on you in my life.
I am not your vassal and I don't need you to raise. "
Li Dong quickly explained: "I don't mean that."
"Whether it's right or not, you don't think too much anyway!" Yuan Xueqing hummed: "Last night, when I vented, anyway, I paid the room fee, and I paid you for the night, so now we are clear. . "
Li Dong's mouth twitched. What did you say to me?
Besides, you're just a fart.
Preparing to speak, Yuan Xue continued: "Don't say anything. Let me calm down first. Don't come to me these days. I haven't figured out something yet. I'll contact you if I have figured it out."
Li Dong heard and pondered for a while: "Aren't you hiding from me again?"
Yuan Xue glanced at him: "You are such a cow now, can I hide it?"
Without giving him another chance to speak, Yuan Xue went straight out.
Seeing this, Li Dong quickly followed.
Waiting for the hotel, Yuan Xue stopped a taxi, Li Dong was about to get on the bus, Yuan Xue turned around and said: "Don't follow me, I'm not so vulnerable. I said, I want to calm down now, you follow me, I'm upset. "
Li Dong smirked, seeing her with a firm attitude and thinking for a while: "I live in Room 3608 of Four Seasons Hotel now. I will be in the Shanghai market these days. My phone is the same as before. Remember to call me.
By the way, you changed the number. What's the number now?
Also, let me take a few days off when I go back. I ’ll see you when I ’m busy with my things ... "
Li Dong said, Yuan Xue had already got on the car, and when his words fell, Yuan Xue dropped a "know" and went away.
Seeing her free and easy, Li Dong was tangled.
He originally thought that if he didn't get it right today, he would make a cry, two troubles, and three hangs. Whatever happened, Yuan Xue must also talk about Qin Yuhan.
As a result, Yuan Xue said nothing, calmer than Li Dong, which caused Li Dong to be greatly injured.
Just when he was tangled, Tan Yongshen came up behind him without knowing it, and whispered: "I have heard about Mr. Li and Miss Yuan's address.
In the morning, President Chen and Secretary Bai both called and said that Carrefour ’s plan came out. "
Li Dong nodded slightly, and kept watching the taxi disappear in front of him before saying, "Go back, let's get busy before talking."
"it is good."
...
May 8.
Li Dong and Dulan met again.
The two sides talked about the acquisition in general, but the specifics have not yet been discussed.
Dulan is a businessman. The businessman will not make the wrong choice just because he is in a hurry. He did not refuse to negotiate with a distant place because of Li Dong's last trouble.
Durham is still happy to see the remote participation in this merger.
However, Duran also made a request that Carrefour only accepted the overall M & A plan for this acquisition.
In other words, Carrefour wants to package and sell it as a whole, and Li Dong's previous plan to acquire some stores completely died.
If you want to win Carrefour, you must include those stores that coincide with the distance.
Carrefour is not stupid. It picks you up and picks you out. The stores with good location have picked you up. What should I do with the rest?
If you do n’t want to talk, you need to talk together.
This is a basic requirement. Only when the basic requirements are accepted, there will be a next step, or a distant place can directly withdraw.
After talking with Du Lan, Li Dong went out of Carrefour headquarters.
In the car, Li Dong rubbed his temples and asked Chen Langdao: "Mr. Chen, please give me an estimate. If Carrefour is sold as a whole, what is the estimated value?"
Chen Lang is a well-known king of mergers and acquisitions in the industry, and he knows more about valuation than Li Dong.
Li Dong had estimated with Sun Tao in Pingchuan before, but at that time Li Dong thought that it would be enough to win about 80 stores.
The total value is about 8 billion, but that was all estimated by Li Dong himself.
If you really want to talk about it, you have to find a professional organization to evaluate it.
Involving such a large amount of mergers and acquisitions, both parties will invite third-party institutions to evaluate.
Li Dong asked, Chen Lang did not panic, Chen Lang had made plans before Li Dong came to the Shanghai market.
Organizing the language, Chen Lang slowly said: "This large-scale retail merger and acquisition case has happened in China before.
Last year, when Wal-Mart mergers and acquisitions were much better, it was similar to ours this time.
At that time, it was estimated that it was worth about 8.5 billion yuan.
At that time, the annual sales volume was 13.2 billion, and the general evaluation agency used three methods for evaluation.
Market value method, income method, discounted cash flow method.
The discounted cash flow method is the easiest to estimate. It is estimated through a series of data such as annual sales, annual sales growth rate, sales profit rate, income tax rate, fixed asset growth rate ...
Let ’s calculate this way for the time being. Carrefour ’s annual sales last year were 29.6 billion, an annual growth rate of 12.5%, and a sales profit rate of 15% ... "
Chen Lang listed a lot of data. Although Li Dong heard some headaches, he did not interrupt.
Some things must be understood.
Moreover, Chen Lang is only a brief description.
After a brief discussion, finally Chen Lang said: "If the evaluation is carried out according to this scheme, the total value of Carrefour now reaches 16 billion."
Li Dong frowned: "Not so high?"
Chen Lang smiled and said, "Don't worry, President Li, I said, this is the previous Carrefour, but it's different now.
And we don't need the Carrefour brand this time. Also, Carrefour has entered China for 13 years, and many store leases are about to expire.
At this time, the value will drop significantly.
Despite these factors, the estimated value should be around 12 billion. "
"12 billion!"
Li Dong has some toothaches. Before saying 8 billion, everyone felt that there was no drama, let alone 12 billion.
Although Chen Lang's valuation is not the value given by professional organizations, Chen Lang has done many merger and acquisition plans, even if there is a gap, the upper and lower should not be right.
12 billion is too much, and Li Dong cannot accept it.
Not to mention him, at this time I am afraid that few domestic companies can really accept it.
The five companies shortlisted this time can bring out tens of billions of capital. In addition to Tesco and China Resources, Intime and Bailian are almost impossible.
Of course, it is the same here in the distance. If it exceeds 10 billion, it will certainly not be available.
Unless Li Dong is willing to smash all the money in the stock market, otherwise it will not be enough.
Seeing Li Dong frowning, Chen Lang said with a smile: "But don't worry, Mr. Li, even if it's so valuable, the money won't come out at once.
We can refer to Wal-Mart's many mergers and acquisitions to proceed, first to acquire about 30% of Carrefour's shares.
For the remaining 70%, we can operate for three years, and then decide whether to buy all or exit based on performance.
At this point, I think Carrefour should agree, a large-scale merger and acquisition plan, this is the most stable and the risk is minimal.
Of course, a joint venture plan can actually be adopted, but we will not discuss it now.
If we only acquire 30% of the shares, we will pay about 3.6 billion in cash in the first installment, or even less. "
Li Dong also knows this, but Li Dong rarely uses this scheme.
In the past, distant mergers and acquisitions were all open and closed, and they were directly wholly-owned.
It is not that Li Dong can spend more money, mainly because the wholly-owned mergers and acquisitions are easy to integrate resources and can quickly form combat power.
However, according to the situation of Wal-Mart's confrontation and many, the early part of the distance won only a part of the shares, which is equivalent to a joint venture, and also gave Carrefour a chance to come back.
The other is that it hasn't reached the controlling share, and it is not easy to integrate resources from afar. One of the main points is that it is very troublesome.
Of course, in this way the risk from a distance will be much smaller.
In fact, for Li Dong, he is clearer than others if the risks are not.
It really took three years to operate, and then it was too late to integrate.
It took 11 years to integrate Carrefour stores, good guys, just arrived at the impact of e-commerce, then Li Dong must not be depressed.
Slightly exhaled, Li Dong said: "How to talk about the plan, it is not yet time, so let's first submit a plan to Carrefour.
In addition, find a third party to evaluate, and by the way, look at the value of Carrefour's own evaluation. "
Chen Lang replied, "I will arrange it immediately. If you are a third party, just go to UBS Investment Bank. The assessment on the Swiss side should be fair and accurate.
By the way, President Li, when will you return to Jiangbei? "
"For the past few days, I will leave it here for the time being."
Mergers and acquisitions are not a matter of two days a day either. It takes at least a month to review and evaluate the preliminary plan.
When it comes to money, we have to wait for the second half of the year.
Li Dong now has more things on hand, plus it is about to reach 5.12.
People are not sitting in Jiangbei, and Li Dong is not at ease.
Before the 12th, he must return to Jiangbei.
Then Li Dong thought of Yuan Xue again. The woman didn't call herself until now and didn't know what she was thinking.
She didn't come, and she had to go and see before she left.
Time is running out, and at this time Li Dong can't let her calm down.
Thinking about something, the car stopped at the door of the hotel.
Li Donggang got out of the car, and Bai Su hurriedly greeted the front road: "Li, President Yuan just called."
Upon hearing Yuan Chengdao, Li Dong immediately asked: "What's the matter?"
"Taobao just released a message."
Li Dong had a headache and said, "What is the moth out of Ma Yun?"
Now he really has a lot of things, and in a moment and a half he can't divide much energy to fight Ma Yun.
According to Li Dong's idea, it is enough to pass on so calmly.
The remote mall has really erupted, we have to wait for the mobile client era.
However, he does not want to fight now, but it does not mean that Ma Yun will live in peace.
Bai Su saw that he had a headache, and his mouth could not help but turned up, and he dared not show it. Bai Su quickly reported: "Taobao just released an announcement that Taobao will build a" Taobao City "in the second half of the year, positioning it as a large online shopping mall, invest Up to 1.5 billion.
At present, it seems that an agreement has been signed with the Lin'an government.
In addition, ~ EbookFREE.me ~ and ‘Taobao City’ at the same time are the official merger of Ali ’s mother and Taobao to build it into the world ’s largest e-commerce ecosystem. "
Li Dong didn't care about Taobao City, but when he heard that Ali's mother was going to merge with Taobao, Li Dong couldn't help being distracted.
This is going to take the big data route, Ma Yun this guy really has such a poisonous vision.
I am afraid that Aliyun will come out soon.
The future of the Internet is inseparable from big data. Li Dong has not prepared it yet. Taobao has taken a step ahead.
Li Dong exhaled, which is also impossible.
Some things are useful not to say that the Prophet, at least compared to Taobao, the foundation of Far Technology is still too weak.
Now even his own data center is not built, let alone cloud computing.
Fortunately, the last time Weibo financed, Baidu was willing to provide some technical and talent support. Then, let's see if we can get Baidu to get something good. 8)