In the East Hampton Rich District at the end of Long Island, New York, a black Mercedes-Benz sedan drove into Linhai Manor. The driver opened the door and put the Igret company prospectus that he had been reading along the way into his carry-on briefcase.

After getting off the car, the A-skin wearing a black OL suit was already waiting, and politely greeted Buffett and made a gesture of invitation.

The two entered the villa and came to a reception room on the east side of the villa.

As soon as I entered the door, even though the distance was a little far away through the floor-to-ceiling window, Buffett immediately heard the sound of women playing. He looked up and saw that there was a pool of erotic fragrance not far outside the villa. I could not tell at a glance how many young girls had filled an open swimming pool that was 20 meters long and 10 meters wide and filled it with all around.

Even though he had never had a preference in this regard, looking at the situation not far away, Buffett's mood still inevitably had some fluctuations, and he couldn't help but sigh. It was too ridiculous that a young man who had just crawled out of the pool and was surrounded by a group of girls to wipe his body diligently.

Simon, who left the swimming pool, did not come directly to the reception room, but turned to the next door.

After a while, when Girl A brought coffee to Buffett, Simon changed into a slightly formal shirt and trousers and walked into the door. If it weren't for the wet hair and slippers on her feet, it would be hard to tell that she was coming from the pool.

He shook hands with Buffett and signaled that the old man would not have to get up. Simon sat down on the sofa next to him and asked with a smile: "Warren, how are you doing recently?"

Buffy nodded: "It's not bad."

I didn't ask a question.

How is Westeros doing? Do you still need to ask when you look outdoors?

Moreover, Buffett's side is actually not good.

According to convention, Berkshire Hathaway held another annual shareholders' meeting in early May. Compared with the once highly sought-after situation, this time, Buffett faced more and more investor disasters and questions, basically focusing on his neglect of investment in the new technology field.

Buffett is a very firm mind and will not easily change his decisions due to external pressure. However, as the hard work of his hard work over the years, he cannot ignore the changes in Berkshire Hathaway's stock price. Because at last month's shareholders' meeting, he once again stated that he would not invest in technology stocks without looking down on the situation. In the past month, Berkshire Hathaway, which has been somewhat sluggish in recent years, has even fallen.

Over the years, Berkshire Hathaway's stock price has actually experienced many ups and downs, but the previous downward trend was basically due to the market's recession. The current situation is that the entire market is very good, and Berkshire Hathaway has fallen against the trend. If this situation continues, Buffett is a little worried that it will cause unpredictable unexpected situations.

Buffett was struggling with this matter as he arrived in Long Island from Manhattan.

Simon actually noticed Buffett's worried expression, picked up the coffee given to A girl and took a sip, and stopped talking nonsense, saying, "Then, Warren, let's talk about ABC directly."

Today is Saturday, June 17th.

Just yesterday, Daenerys Entertainment's acquisition team once again held a three-hour secret consultation with executives of Metropolitan ABC Group, and basically reached an intention for departmental adjustments, executive changes, debt integration and other aspects after the merger.

Even Daenerys Entertainment's acquisition model for Metropolitan ABC Group has been initially finalized to adopt cash and stock payment methods. Daenerys Entertainment has also given quite loose conditions. Metropolitan ABC Group shareholders can freely choose the ratio of cash or stocks, including all-cash payment or all-stock payment.

The only difference is the transaction price.

According to yesterday's closing price, the current share price of Metropolitan ABC Group is around US$145, with a total share capital of approximately 122 million shares and a market value of US$17.6 billion.

The transaction price that Metropolitan ABC hopes to obtain is US$180 per share, equivalent to a valuation of US$21.9 billion.

The highest offer Daenerys Entertainment is willing to give is $172, equivalent to a valuation of $20.9 billion.

The difference between the two sides' offers is exactly $1 billion.

The quotation of $172 is 18% compared to the current stock price, which seems to be a bit low, but the main reason is that the stock price has risen after the recent release of Daenerys Entertainment Group's upcoming acquisition of a TV network.

The reference for Daenerys Entertainment Group's quotation is mainly the stock price of Metropolitan ABC Group at about US$130 when the merger and acquisition plan was just launched. Calculated in this way, the premium has reached 32%, which is already a very generous bid.

If the Metropolitan ABC quoted at $180, the premium is close to 40%, Simon will definitely not accept it.

It’s not that Daenerys Entertainment can’t afford such a price, but that everything has to be limited. The TV network is no longer a growth industry, and this transaction is not a malicious acquisition, so the highest premium will only be about 30%. If Simon is a sucker this time, then the entire Westeros system will be slaughtered again and again in the future.

Simon went straight to the topic, and Buffett didn't go around the corner and said, "Simon, I think the quotation of $180 is very reasonable, it's just a 24% premium. What's more, based on Daenerys Entertainment's price-to-earnings ratio, you are very cheap in cash and stock trading mode."

Ignoring Buffett's other premium calculation method, Simon leaned on the sofa and rubbed the cup in his hand and said, "Warren, why not assume first, what will happen if Daenerys Entertainment gives up the acquisition of ABC?"

What will happen?

It's obvious.

In history, Disney's merger and acquisition of Metropolitan ABC Group had a total transaction amount of only US$19 billion, including about US$3 billion in debt, so the valuation of this TV network itself was only US$16 billion. Now, even according to Daenerys Entertainment's quotation, the valuation has reached US$20.9 billion, which is considered debt, and the total transaction amount has risen to US$24 billion.

There is a total of $5 billion between them.

The development of Metropolitan ABC Group is not much different from the same period in the original time and space. In other words, because Simon's arrangements for giving popular TV series such as "Friends" and "The Story of the Emergency Room" to the other two companies is a little worse. Only talking about the TV network rating data, without considering FOX, ABC is even at the bottom among the three old TV networks...

If this transaction fails, the stock price of Metropolitan ABC will inevitably plummet.

Because the TV network field is also an industry that increases and decreases, the current four major TV networks are competing for audiences in North America, and they will also face the impact of emerging cable TV and the Internet.

At that time, not to mention the $16 billion market value before the acquisition started, it is not impossible for Metropolitan ABC Group to fall back to the 10 billion market value threshold, because Daenerys Entertainment has proved some kind of increase and decrease in Hollywood. The series of popular TV programs produced by Daenerys Entertainment in the past few years are enough to prove that this company has the strength to change the landscape of the TV field.

Buffett thought about these results when Simon proposed the establishment. However, in the current negotiation occasion, this old investor who has been in the capital market for many years would not say it bluntly.

After a little thought, Buffett looked up at the young man opposite and said, "So, Simon, let's take a step back and give it a discount, $176, how about it?"

Simon shook his head without hesitation and said, "Warren, I will not raise my quotation for another cent, only $172. I think you know that today is our final negotiation and there must be a result. Speaking of which, I received a call from Welch in Europe a few days ago, and he is happy to talk to me about NBC. However, you also saw it at the beginning, so I didn't hide it. I am still more interested in ABC. I just won't give a price code that is beyond my acceptable level."

Buffett retorted: "Simon, I don't think the $176 price is unbearable for Daenerys."

Simon said: "I know you always think that Daenerys Entertainment's stock price is relatively high, Warren. If I want to pursue profits, it is not difficult for Daenerys Entertainment to reach a net profit of US$4 billion in the current fiscal year. Based on the market value of US$156.2 billion yesterday, it is actually only 39 times the price-to-earnings ratio. What is the current price-to-earnings ratio of Metropolitan ABC? 41 times, if we exchange stocks, we are actually at a loss."

"Simon, you're comparing reality with assumptions."

Simon shrugged: "If it's not assumed, Daenerys' net profit in the first two quarters of fiscal year 1995 was US$1.73 billion, and the current public price-to-earnings ratio is only 45 times. Moreover, Daenerys is still maintaining high growth, and Metropolitan ABC no longer has growth potential."

Buffett was immediately speechless.

After all, business negotiations are equally respected by strength.

Buffett used to give someone an ultimatum. This time, both the Metropolitan ABC Group and Berkshire Hathaway are in a weak position.

It's even a little difficult to get off the road.

Give up this business will be a Waterloo-like disaster for both Metropolitan ABC Group and Berkshire Hathaway, and the result is unbearable.

Buffett, who never likes to bargain with others, was silent for a moment and said again: "$175, Simon, I can't give in anymore."

"It's only $172," Simon continued to stroke the coffee cup in his hand, saying, "But, Warren, I can add another chip, or a kind of support. Do you know about Berkshire? I have actually quietly bought 4.9% of Berkshire's stock in recent years, and can reach the 5% reporting standard at any time."

Buffett was a little surprised and looked at Simon carefully, confirming that the young man opposite was not lying to him, and then said, "I remember that your wife is very unfavorable to my company."

He also smiled a little as he said that.

This is a feud.

Not only did Janet not only refute the other party in a speech in college when Buffett was speechless, but also joked in front of Buffett in front of Buffett at a party of the Hurst family a few years ago that the old man's investment model was "Grandt's Gold Coins". Buffett was born in 1930 and is now 65 years old. He has been accumulating tirelessly since he delivered a newspaper in elementary school. Every penny is eager to invest, so he has accumulated his current family background, saying that it is Gradt's Gold Coins, which is very vivid.

Simon also bent his lips and smiled, "Jenny is just a little unforgivable. In fact, both of us appreciate Warren's investment talents very much, so we have been buying quietly in recent years. As long as we reach this deal, I can increase my stake in Berkshire Hathaway to more than 5% at the right time. I think this will greatly increase the confidence of Berkshire Hathaway shareholders in this company and will not force you to invest in technology stocks."

Even though he had just understood Simon's intentions, Buffett quickly said: "But this is unfair to the shareholders of Metropolitan ABC Group. Simon, I can't do this."

Simon ignored the old man's reserve and said, "Or, this time point is set at the beginning of next year. By then, the acquisition of Metropolitan ABC has been settled and no one will connect these two things. Moreover, Warren, this is just my support for Berkshire Hathaway, not an exchange. I said it was only $172. Of course, if this transaction fails, I might sell the stocks, because Berkshire Hathaway holds too many shares in Metropolitan ABC, and I don't want to suffer losses when the Metropolitan ABC stock price plummets."

This is simply...

Buffett was speechless to the young man who was a little black-bellied in front of him.

At $172, obviously there is really no room for turning around.

After thinking for a moment, Buffett said: "It's better to be next April."

Simon understood: "No problem."

Berkshire Hathaway's annual meeting has been held in May. If Westeros suddenly becomes a major shareholder of Berkshire Hathaway's 5% stake in April next year, public opinion and hype, coupled with a wave of stock price growth, the pressure Buffett faces next year's annual meeting will definitely be much less.

Seeing Simon agreeing, Buffett stood up and stretched out his hand at Simon: "Then, let's make a deal."

Simon also put down the coffee cup in his hand, got up, symbolically shook hands with Buffett, and smiled and said, "Document."

There were still a bunch of ignorant monsters waiting in the swimming pool outside.

Since the matter was settled, Simon wanted to serve tea and see the guests, but unfortunately Buffett sat down again with a wink: "Simon, on the way, I read Egret's prospectus yesterday, and some of the details made me wonder."

Simon had to sit down again and asked, "Warren, have you changed your mind and planned to subscribe to Igrit stock?"

Buffett shook his head: "I still don't plan to buy it, I just want to know more."

All right.

Simon could only be patient and continued to talk with Buffett for another half an hour before finally seeing the other party off.

Then he called Robert Eiger from Manhattan and told the other party that the matter had been agreed and that both parties could go further. Then Simon walked through the glass door of the reception room and walked towards the outdoor swimming pool.

The sun was no longer hot at around 4 o'clock in the afternoon, and the pool party was still hot.

During this period, the new Victoria's Secret show began to look for candidates, and Simon has always held the final decision on the Angels Legion's list in his own hands.

For the supermodel group in the fashion industry, this power is simply a life-and-death battle.

I set off to Italy to see Sofia last Friday, and then went around in Ukraine, Russia and Finland. I just returned yesterday. During this period, I noticed the documents coming from here and temporarily decided to relax, so I had this party.

There are currently more than 60 models in the swimming pool of this manor, all of whom are carefully selected from the list provided by major agencies, and they are all newcomers who have never appeared on the Victoria's Secret TV.

Men like freshness after all.

Simon is no exception.

After lunch today, two custom Blackhawk helicopters of the same Navy One on the West Coast went back and forth twice before transporting a large group of fairies.
Chapter completed!