LIGHTNOVELONLINE Four hundred and seventy-eight closed positions to acquire U.S. Manufacturers Bank
Chapter 478
Soon the Dow Jones index rushed to the 9012 position before stopping, and finally the Dow Jones index closed at the 9000 position.
Fund No. 1 has a floating profit of 1,100 points on the book, with a floating profit of 5.5 billion U.S. dollars, and the net value of the account has reached 11.3 billion U.S. dollars.
Wang Guanxi couldn't help but said: Today the Dow Jones Index has risen really sharply!
Wu Zhanhai said excitedly: Boss, it must have been caused by Soros and others retreating, and the large-scale liquidation of short positions.
Wu Hongsheng also echoed: This time, Soros and others were finally forced to close their positions.
Li Guangyu chuckled: They closed at least 400,000 short positions, which is why the Dow Jones Index rushed to 9,000.
Wang Guanxi smiled faintly: Although Soros, Feld, and Milos Messi were defeated, they still left the field with a profit.
Lu Jianyan said: Soros and the others left the market at a profit, but Wells is in big trouble, he is about to die.
Guan Zhenyi: Wells should be about to blow up, and it will be time for us to close the position
Lin Jiyang also echoed: Yeah, now we're waiting for Wells to blow up his position.
Wang Guanxi nodded: I hope the Dow Jones Index will continue to skyrocket. It will be great if I can make $6 billion this time.
At present, Wang Guanxi's No. 1 Fund has a debt of US$5.5 billion, and his No. 2 Fund has a debt of US$1.2 billion, with a total debt of US$6.7 billion. After making money this time, he plans to pay it off directly.
Stephen Steiner asked: Boss, Wells must be short of money now, should we contact Wells now to discuss the acquisition of American Manufacturers Bank?
Alan Fishman also said: Wells is probably going to liquidate his position soon, and he probably is also eager to sell the shares of American Manufacturers Bank.
Wang Guanxi thought for a while and said; Call Wells immediately and say, we plan to acquire the shares of American Manufacturers Bank in his hand.
Yes, BOSS So Alan Fishman contacted a president of the American Manufacturers Bank, and then contacted Wells.
However, Wells politely refused.
Boss, Wells said that he does not plan to sell the shares of Manufacturers Bank of America for the time being.
Wang Guanxi shook his head: Forget it, when we go to buy other banks in New York, we don't necessarily have to buy Manufacturers Bank of America.
Wait for Wells to blow up!
Yes, boss
And at this moment,
U.S. Manufacturers Bank and Wells are also in deep entanglement.
Alan Fishman, the chairman of Fifth Third Bank, called him to say that he wanted to buy American Manufacturers Bank. He wanted to sell it, but he was reluctant.
But now I need money.
His account is about to blow up.
But he still has hope, albeit a fluke hope.
Because the 9000 position is a huge resistance area, let's wait until the Dow breaks through this position.
Ugh!
This time it's over!
His head was heavy and his back was sweating profusely.
After thinking about it, he deliberately borrowed hundreds of millions of dollars to supplement the available funds in the account.
After surviving the weekend, on July 20, the financial market opened.
The Dow Jones is still up.
However, it only rose 50 points that day, rushing to the 9050 position.
He holds 600,000 long orders in his account, and the opening position is at 8250, with a floating loss of 800 points, and a total floating loss of 4.8 billion US dollars.
On July 21, the Dow Jones index broke through the 9100 position, all the way to the 9150 position before closing
The book has a floating loss of 900 points, with a total floating loss of 5.4 billion U.S. dollars
Wells is about to blow up.
Ruined!
I'm so screwed
Hey, I'd better start closing positions, and slowly close all short orders!
At this time, the phone rang. It was Alan Fishman, the chairman of Fifth Third Bank, who said he was buying American Manufacturers Bank.
Wells also knew that Alan Fishman's boss was doing long positions on the Dow Jones Index and held a large number of long positions on the Dow Jones Index, so he proposed to acquire U.S. Manufacturers Bank, that is, when he closed the short position on the Dow Jones Index , Wang Guanxi also flattened the long list of the Dow Jones index.
And Wang Guanxi started negotiating with Wells.
Mr. Wells, the conditions I promised you are also acceptable. The price we bought U.S. Manufacturers Bank is only based on today's closing price!
Wells also agreed and said, Mr. Wang, the market price is no problem!
So everyone drew up an equity agreement, signed it, and paid the funds after the Dow Jones Index closed its position.
Then on July 22, Wells began to close out the short positions on the Dow Jones Index, and Wang Guanxi also closed out the long positions on the Dow Jones Index.
The two sides closed their positions for two days. During this period, many short sellers entered the market to sell short positions, or short-term bulls closed their positions. The Dow Jones Index was relatively weak.
In the end, Wells' position was closed at 9150, with a loss of US$5.4 billion.
However, Wang Guanxi’s No. 1 Fund’s average closing position was 9145, earning 1245 points and gaining 6.225 billion US dollars.
Wang Guanxi immediately took out 25 million US dollars as a bonus for the pony boys.
This time, the net profit was 6.2 billion US dollars, and the net value of the No. 1 fund account was as high as 12 billion US dollars.
The agreed purchase price of U.S. Manufacturers Bank is US$55 per share, while the total share capital of U.S. Manufacturers Bank is 130 million shares, with a market value of US$7.15 billion.
Wells holds a 40 percent stake in Manufacturers Bank worth $2.86 billion.
So Wang Guanxi paid 2.86 billion U.S. dollars to Wells and obtained a 40% stake in Manufacturers Bank of America.
Then it spent another US$840 million to acquire 10% of the shares of Manufacturers Bank of America in the market, and spent a total of US$2.7 billion to control 50% of the shares of Manufacturers Bank of America.
Founded in 1856 and headquartered in Buffalo, New York, U.S. Manufacturers Bank is responsible for providing commercial and retail banking services to individuals, corporations, other businesses and institutions.
Operates about 700 branches and 2,000 ATMs.
These branches are located in New York, Maryland, Pennsylvania, Washington State, the District of Columbia, Virginia, West Virginia and Delaware.
At present, the total assets of American Manufacturers Bank are 65.816 billion US dollars, the total liabilities are 59.031 billion US dollars, and the net assets are 6.885 billion US dollars.
Wang Guanxi was very satisfied with the acquisition of U.S. Manufacturers Bank, because it made up for the weak power of Wang Guanxi's banking system in the eastern states of the United States.
The CEO of Manufacturers Bank of America, Ryan John, also came to Glens, Ohio in person.
Ryan John has been Chief Financial Officer since 2005.
In 2006, he served as Executive Vice President of Manufacturers Bank of America,
Since 2007, he has served as a director and since 2009, as the chief executive officer.
His performance is outstanding, and Wang Guanxi directly appointed him as the chairman and CEO.
Ryan John asks: Boss, I'm going to buy a small bank
Wang Guanxi nodded: Go for acquisitions. In the future, Huntington Bank, Fifth Third Bank, Silicon Valley Bank, East West Bank, Bank of Hawaii, and American Manufacturers Bank will cooperate and compete with each other, and will not merge for the time being.
Yes, boss!