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Chapter 50 Acquisition
After carefully looking at the information of this sky fund company, the business situation is ordinary and the scale is small. It is only one of many micro fund companies on Wall Street.

But compared to other companies that have debts and are on the verge of bankruptcy, if they operate well, they can barely survive, with all kinds of licenses, and even the scale of funds under management has exceeded 8000 million US dollars.

A few years ago, due to the stock market crash, the financial industry as a whole was not good, but with the collapse of the polar bear, the United States has become the only superpower in the world, and has begun to harvest wealth globally.

It can be said that the financial industry in the United States is at a turning point, and many people in the industry can see it, so unless it is really impossible to operate, otherwise it will not sell its own company.

There are many fund companies on Wall Street, especially those that meet Locke's conditions. The salesman Mr. Robert gave Locke the information on these three companies after many times of screening. Seeing Locke's question, he said:

"This company is really good, and it has been operating very well in the past few years. The founder, Mr. Andrew, also served as a professor of finance at Columbia University.

Later, Mr. Andrew resigned and founded Sky Fund Company. At that time, the market was good and he made a lot of money, but then encountered a stock market crash, and the fund managed by Mr. Andrew lost a lot of money.

Forget it, after all, the money lost by the fund was not his own, and he still made millions of dollars himself.

But Mr Andrew's new wife and son love to spend money, especially when his son was involved in a murder last year.

In order to get his son out of crime and pay a huge bail, Mr. Andrew spent a lot of money. At this time, his third model wife was going to divorce him, and he also shared a lot of money.

Mr. Andrew had to dispose of most of his assets, and now he only has this company left besides the house he lives in, but he still has various expenses to pay..."

"OK, I think I get it."

Locke nodded. This Mr. Andrew obviously suffered from family problems, which worsened his financial situation. This is not uncommon in the United States.

The company does meet Locke's requirements. The scale is not large, but it is relatively complete. It is not a pheasant company with only one or two people.

With such a ready-made framework, Locke can integrate the company at a faster speed, and this ready-made platform will save him a lot of time.

After a careful look at the financial report of Sky Fund, after the stock market crash a few years ago, major clients began to withdraw their funds one after another. After many efforts, Mr. Andrew managed to leave more than 2000 million US dollars.

But the situation did not improve in the next few years. It became more and more difficult to find people willing to invest, and more and more investors chose to withdraw their funds after the investment expired.

Of the 700 million US dollars in the current account, more than 400 million of them will be liquidated and transferred to the investor's account.

The rest belong to the same investor, and his funds are only half a year away from liquidation, especially since last year, the company has hardly raised a dollar of investment.

Obviously, after major family problems, Mr. Andrew did not have the time and energy to seriously run his own company, which also accelerated the decline of the company.

Prior to this, Locke had a lot of exposure to financial information. Just by looking at these financial reports, he could quickly find out whether there were any problems in them.

As a boss, maybe you don’t need to manage specific things yourself, but if you don’t understand the financial report, you can’t understand the company’s situation from it, or you find problems, you will definitely end up being taken advantage of.

It can be said that this sky fund company is about to run out of water. More than 700 US dollars of funds belong to the investors.

After reading all the information on this company, Locke shook his head and sighed:
"It's a pity. If we can continue for a while and get new funds, there is still hope for a comeback. Obviously, Mr. Andrew doesn't have that kind of thought and energy now."

"This company is indeed very good, with less debt, employees, licenses, office space, etc. are still there, and it can operate normally after completing the procedures.

I just contacted to confirm that the office rented by the company is still three months away, and the building is less than 10 minutes walk from here, why don't we go and have a look.

We can call Mr. Andrew right now, whose asking price was down to $100 million last week. "

"Indeed, it's not easy to run a fund company that has lost credibility in the eyes of investors." Locke looked at the information and dealt with it casually.

Mr. Robert, the clerk, listened to Locke's words and agreed casually, but he thought in his heart that he was another kid from a rich family with a lofty heart.

There are many such ignorant guys every year, and almost all of them have to go home in despair, bearing the 'pain' of 'inheriting' family property.

After reading the information, Locke did not make a decision immediately, but began to pick and choose: "Is the figure of 100 million US dollars a bit high? The information says that the company account has less than [-] US dollars left."

Robert explained: "That's true, but it also includes office supplies, such as computers, desks, printers, etc., and the lease of the office.

In addition, Mr. Andrew himself holds a part of Time Warner's shares through the fund, which is currently worth about 70 US dollars. "

"But they still owe $[-] in employee wages, and if I'm not satisfied with them, I need to spend another sum of money to fire them."

"Maybe we can go and talk to Mr. Andrew in the afternoon. Believe me, 100 million is definitely not his bottom line."

“Okay, it might seem like a $10,000+ thing, but I don’t want to be taken for a ride,” Locke said:
"You know, at my age, guys on Wall Street think this guy seems like a cheat."

After hearing Locke's words, the salesman Robert maintained a professional smile and a respectful attitude. It was not at all obvious that he was also one of the people Locke said wanted to fool him.

During the whole conversation, Tang Weiwei sat beside him drinking black tea in an orderly manner, listening patiently, as if he wanted to learn something from it.

With Locke's permission, Mr. Robert contacted Sky Fund, and Locke stayed in his office chatting for another 10 minutes before leaving and went to the building where Sky Fund was located.

The office space of Sky Fund is not large, about 150 square meters in total, where Mr. Andrew and the company's employees are waiting.

Mr. Andrew looks like he is in his 50s, and he is meticulously dressed, but he can still see the exhaustion that cannot be concealed. It is presumably that the family situation makes him exhausted.

After the two parties greeted each other, Robert took the initiative to show up with Andrew and started to bargain.

The content is nothing more than that assets such as desks and computers are worthless at all, and the lease of the office space is a waste, and it will shrink over time, and there is also the wages owed to employees.

In the end, he said that including stocks, he could only offer an offer of US$85, and Mr. Andrew was required to cooperate with the transfer procedures.

It may be that he is eager to change hands of this company, after a simple haggling, Mr. Andrew agreed to the price.

The purchase price will be paid in three installments, with the first installment being 20 yuan, and another 55 yuan after the transfer, and the remaining [-] yuan will be paid one month after the company transfer.

Taking advantage of this time, it is necessary to pass the audit of the accounting company to ensure that the company has no debts other than the information provided by Andrew.

(End of this chapter)