Lu Feng didn't say another word to them, turned around and left. Neither of them ever dreamed that their first conversation with Lu Feng would end like this.
This is far from what they expected.
To be precise, given their backgrounds, they didn't really take the acquisition of a small company like Jiafeng Electronics seriously.
"This is outrageous!"
The others nodded in agreement. Now that three companies were vying for the deal, they naturally wanted to find a way to get a high price.
It's almost eight o'clock. Tonight's reception is very simple, just eating and drinking, and arranging for Lu Feng to meet with these three parties. Huang Youwei still wants to attract more foreign investment, preferably to build factories locally. The preferential conditions and policies he can offer are unimaginable for local enterprises like Lu Feng.
In short, if you come, we'll give you anything, it'll be free!
Some local leaders had already entered the venue, and everyone was eating and drinking, which was quite pleasant. Huang Youwei walked in and greeted people.
Lu Feng stepped into the banquet hall, intending to have a quick bite, resolve the matter, and then return.
"What's wrong? Did the talks not go well?" Huang Youwei asked in a low voice when he saw Lu Feng's dark face. "Let me tell you, there are three companies now. You have to act well. I don't want you to be acquired. A joint venture would be best. It'll save face if people talk about it. So you have to know how to act!"
Lu Feng looked at Huang Youwei and said in a deep voice, "I don't want a joint venture, and I don't want to sell!"
"Beautiful, it looks just like the real thing!" Huang Youwei said with a big smile, "Keep it up, leave the rest to me, we just need to take one down."
"I really don't want to sell!!"
"Excellent!" Just as Huang Youwei was about to say something, the three people walked in, gave Lu Feng a wink, and said, "I'll go and receive them."
"Oh dear!" Lu Feng covered his face with his hands, speechless. How could this be so hard to explain?
Huang Youwei stepped forward and greeted the group politely. The first to enter was the Samsung team. Their vice president said to Huang Youwei, "Didn't you say that as long as it was an acquisition of Jiafeng Electronics, everything would be smooth sailing and there wouldn't be any problems? Why are you not selling now?"
Huang Youwei thought to himself, "Lu Feng is really shrewd. He figured out all the intricacies of the situation before I even had a chance to talk to him."
I ran down and rejected a bunch of people.
In business, it's all about playing hard to get!
"He's a young man, he's never done this kind of thing before, and he's afraid of being taken advantage of. You should understand. Besides, this price..."
"The price we can offer is 1.3 billion, which is a low price. We can offer this price entirely because of Jiafeng Electronics' market position."
“No problem, I’ll go talk to him. Let’s have dinner first, everything is ready inside.” Huang Youwei gestured for them to proceed, and a staff member stepped forward to lead them.
Soon after, Sony's team arrived, and Huang Youwei used the same rhetoric, securing a base price of 1.25 billion.
Finally, it was Philips. After much back and forth, they offered a base price of 1.2 billion.
The venue was fairly spacious, and the three groups of people split into three clusters, whispering to each other and occasionally pointing at one another, not knowing what they were saying.
A few minutes later, the main leaders of the three teams came over and sat at the round table on the left. Huang Youwei pulled Lu Feng over as well.
"This is the price, and everyone is very sincere. Ultimately, we have to choose one. It's like marrying off a daughter; a company needs a home too." Huang Youwei turned to Lu Feng and said, "President Lu, have you thought it through?"
"Didn't I already say I don't want to sell?" Lu Feng said in a deep voice.
Huang Youwei subtly raised an eyebrow at him, then suddenly turned cold and snapped, "What are you trying to do? How dare you talk to me like that? I know Jiafeng Electronics has great potential, and I know you're planning to make hundreds of millions in profit next year, but those are only achievable with a certain chance. Now you're saying you won't sell? Do you have any other options?"
I plan to...
"You want a joint venture with a controlling stake, right?" Huang Youwei interrupted Lu Feng, sighed, and said, "I used to run a business myself, so I can understand the feeling of starting your own company. It's like your own child. Who would want to sell their own child?"
"Many times it has little to do with money, but mainly with human emotions. I believe you have this experience too. If he doesn't want to sell, who would be interested in a joint venture?"
All three parties could see that Huang Youwei was colluding with Lu Feng to put on a show.
The initial plan was to acquire Jiafeng Electronics for around 1 billion yuan, but the deal eventually turned into a joint venture with a controlling stake, which was hard for them to accept.
Philips was the first to respond: "No interest, it's beyond our budget and our plans!"
Then Sony representatives said they needed to report it, as a joint venture would involve a series of issues such as controlling stake and the appointment of senior management.
Only the Samsung representative spoke up: "Okay, we can accept a controlling stake, but it must be 65%. As for the price, we'll reduce it by 20% for the first negotiation."
Huang Youwei was secretly delighted when he heard the price. Sixty-five percent of the shares for eight hundred million yuan was definitely a better deal than a one billion yuan acquisition.
"Well? I've said all the right things to you. You need to understand what I'm saying. If you keep acting recklessly and think you can reach for the moon, don't blame me for being impolite." Huang Youwei's words were meant to tell Lu Feng that the price was very reasonable.
“I have made myself very clear. Jiafeng Electronics has never said anything about selling or forming a joint venture. I hope Mr. Huang understands me,” Lu Feng said with a serious expression.
"What's wrong with you?" Huang Youwei smiled apologetically at the three representatives, pulled Lu Feng aside, and walked behind a pillar, saying, "This price is acceptable. Sixty-five percent of the shares, eight hundred million! Very few private enterprises in the country can afford this price. If they weren't in such a hurry, they wouldn't have had to pay such a huge price!"
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