Silicon Valley

Chapter 400 Wells Fargo Bank

Henry personally designed the mini version of the "Derpy Robot" shape, and left the rest to the company. In fact, Henry didn't know whether this mini "robot nerd" would sell well. After all, it was like a remote control car, and the price was definitely not cheap. I'm afraid it would be difficult for ordinary people to afford it except for the rich.

After Henry returned home, he paid attention to the financial news. Not long ago, Wells Fargo hostilely acquired a competitor in California, First Intercontinental Bank Group, which doubled its assets, reaching $96 billion in bank assets and a market value of $17 billion! Henry suddenly recalled that the acquisition was originally completed in 1995-1996, probably because Henry also established a bank in California, which had a butterfly effect and delayed the acquisition!

Wells Fargo is a legendary bank with a terrifying record in business history: since its establishment in 1852, it has gone through several wars, political turmoil, and several financial crises, but it has a history of nearly 150 years in Wells Fargo. There was no operating loss in any year. And between 2008 and 2011, it even completed the acquisition of Wachovia. According to the data of the New York Stock Exchange on March 31, 2012, the market value of Wells Fargo reached 180 billion US dollars, which is the largest bank in the United States by market value!

Even Warren Buffett is a major shareholder of Wells Fargo, and during the financial crisis, he even used his personal account to increase positions and bought a large number of Wells Fargo stocks. This 9.11 incident, Buffett bought a large number of Wells Fargo shares!

Henry didn't feel a little moved when he saw it. Obviously, Wells Fargo has huge potential for development. Just imagine, it is legendary to be able to not lose money for 150 years! And every time the financial crisis breaks out, it can also counterattack and become a big winner in the financial crisis. If you have such a bank that only makes money without losing money, how can you be short of money to spend?

It just so happened that Henry still had more than 300 billion dollars on hand, and the acquisition of Wells Fargo was completely trivial!

Immediately, Henry initiated a takeover request to Wells Fargo Bank, proposing a wholly-owned acquisition of $20 billion.

After the other party received the news, a general meeting of shareholders was held the next day. At the meeting, a large part of them agreed, but Warren Buffett was firmly opposed.

"Dear shareholders, Wells Fargo has never lost money since its inception. It has grown very steadily and is increasing its profits every year. We can fully conclude that in three years, Wells Fargo will be worth far more than $20 billion! !! I firmly disagree with Henry Williams' acquisition of Wells Fargo!" Buffett looked around at everyone and said.

Buffett has a unique vision and a great reputation in the investment world! Otherwise, why is it called "stock god"? As soon as he finished speaking, everyone agreed.

That afternoon, Henry heard the news that the acquisition was rejected. At the same time, he also inquired, and Buffett was behind it.

Henry frowned and murmured, "I don't believe other shareholders aren't interested... I'll add another $1 billion!"

Henry asked to immediately report the latest price to Wells Fargo, but the result was still rejected.

Henry felt angry, "Okay, then you can't blame me for the malicious acquisition!"

Wells Fargo has a 150-year history, and its stock has a high liquidity and is easy to absorb in the market. Neither Wells Fargo's major shareholder nor Buffett's combined stake is 30%.

Within a few days, Wells Fargo's trading volume surged, which immediately attracted the attention of many people.

Buffett said solemnly in the conference room of Wells Fargo headquarters: "This is Henry Williams playing tricks, he is preparing to hostilely buy Wells Fargo, we must take action, we can't sit still and let him absorb shares from the stock market, or else , the company will become his sooner or later!"

"Mr. Buffett is right. It's just that we have just acquired the First Intercontinental Bank Group hostilely, and we currently have insufficient capital reserves..." A shareholder shook his head.

"Yeah!" The rest of the shareholders whispered and discussed each other.

But when they remembered that the other party was Henry Williams, the richest man in the world, everyone could not help but feel a deep sense of frustration. At the end of the discussion, everyone could only look at each other in dismay, and no one could think of a good solution.

Buffett remained silent, and when they were all quiet, he said, "Wells Fargo and Berkshire Hathaway join forces to prevent Henry Williams' hostile takeover! I will let Berkshire Hathaway join forces. El Hathaway snapped up Wells Fargo shares in the stock market, and as long as our shares have an absolute advantage, Henry Williams can only give up this action!"

"Oh, that's really good!"

Everyone was overjoyed.

Immediately, the stock price skyrocketed as Wells Fargo, Berkshire Hathaway, and Henry all snapped up Wells Fargo stock.

"Wells Fargo's stock price has gone up so fast!"

"How come there are so many buy orders for Wells Fargo stock, what the hell is going on?"

A senior Wall Street analyst disclosed: "Henry Williams failed to achieve his goal through a well-intentioned acquisition. He could only hostilely acquire the shares of Wells Fargo in the stock market and strive to gain control of the company. In order to defend against the other party's behavior, Wells Fargo , of course, is also snapping up stocks from the stock market. Judging from the current situation, Wells Fargo’s stock price will only get higher and higher, and I recommend that investors sell stocks after a while!”

At this time, newspapers reported Henry's acquisition of Wells Fargo's stock.

The Wall Street Journal said: "In the United States, Henry Williams already owns Williams Bank of America, but this time he bought Wells Fargo in his personal capacity, and one can't help but wonder why not just let Williams Bank of America to acquire Wells Fargo It can be seen that he is indeed very optimistic about Wells Fargo and wants to get an absolute controlling stake in the bank!"

Williams Manor.

"Mr. Williams, I originally thought Wells Fargo had no funds, but I didn't expect Warren Buffett to suddenly intervene. Berkshire Hathaway is competing with us for stocks!" said Charles, the head of the think tank, "Berke Hill Hathaway has a lot of money, plus Buffett and Wells Fargo already own most of the shares, so we have a very small chance of winning Wells Fargo!"

Henry couldn't help frowning when he heard it, and muttered twice in his mouth Buffett and Berkshire Hathaway, and then said to Charles: "Charles, Wells Fargo's market value has risen to 25 billion US dollars. When the time comes, we will sell our shares, and if we can’t acquire it, we have to make a profit from it! Since Buffett and Berkshire Hathaway want to intervene, let them bleed once!!!”

"Yes!"

(To be continued ~^~)

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