On April 4, Chevron Texaco, the second largest oil company in the United States, offered $16 billion to Unocal in an effort to acquire the company.
Their acquisition offer has now begun to undergo antitrust review by the Federal Trade Commission of the United States.
At the same time, Barron also knew that in two months, China's CNOOC would also join in the acquisition of Unocal...
In fact, as early as February this year, Unocal sent some company information to CNOOC and invited them to participate in the acquisition.
In Barron's previous life, Chevron and CNOOC were the two main companies that were interested in acquiring Unocal, and Barron already knew the subsequent outcome - after all, the process of this acquisition was very sensational and occupied many media sections at the time.
After Lloyd brought up this matter, Barron also began to consider the feasibility of acquiring Unocal.
First of all, is it necessary for United Energy Group to acquire Unocal?
In Baron's view, Unocal's most valuable parts are two: one is the oil and gas block resources owned by the company in Asia, including Thailand, Indonesia and Bangladesh.
In addition, there are the oil and gas related technology reserves and rich talent resources accumulated by the company after a century of development.
For CNOOC, the first one is probably the most important, while for United Energy Group, the latter one is more attractive.
Just as Lloyd said on the phone, both United Energy Group and Kolo Oil Company currently have great development prospects, based on the rich reserves of the Kolo offshore oil fields.
But for an oil company, United Energy Group can only be said to have set up a framework and needs to fill it with more content.
This includes a series of technologies, equipment and talents for oil and gas extraction, refining, storage and transportation.
If they could acquire Unocal and integrate it into United Energy Group, it would be like the protagonist in a martial arts novel who was infused with a lifetime of inner strength by a senior master. This would immediately enable United Energy Group to become one of the world's leading energy groups. The temptation here is enormous.
However, if United Energy Group wants to join the acquisition of Unocal, it will not be so easy...
The first is the funding issue. Although by the end of 2004, Unocal's market value was approximately US$11 billion, it still had a net debt of US$2.68 billion.
But Barron knew that in order to complete the acquisition of the company, in addition to bearing the $2.68 billion in debt, the bid would need to be at least $17.5-18.5 billion.
Because Chevron, which has made the first bid, has already offered $16 billion, and CNOOC's bid will be even higher.
"Mr. Blankfein, one thing that puzzles me is that I know that China National Offshore Oil Corporation has received an invitation from Unocal, hoping that they will join the acquisition of them..."
Barron took the phone and said calmly:
"If I guess correctly, you have also contacted CNOOC and tried to help them with the acquisition and provide financing. So why are you calling me again? Reminding me to join in?"
Lloyd seemed to have not expected Barron to suddenly mention this. He was silent for two seconds after Barron finished speaking, and then said,
"Your Highness, I do not deny that we will help PetroChina with financing if they can succeed in the final acquisition. But this is only an assumption. One thing at a time, I am giving you this suggestion because I see that in the process of acquiring Unocal, your United Energy Group can make up for its shortcomings and become stronger. I hope you believe that I am doing this entirely out of our friendship and it is completely in your interest."
Barron could only laugh at this phone call with Goldman Sachs CEO Lloyd Blankfein.
As we all know, Wall Street investment banks are profit-driven, and among all Wall Street investment banks, Goldman Sachs must be the most cunning one.
In his previous life, Baron had studied countless financial cases related to Wall Street. In most of these cases, Goldman Sachs could be seen. And almost every time, Goldman Sachs was able to escape unscathed from the crisis, or at least was the fastest to escape...
If you really believe that Goldman Sachs can have so-called friendship, then I'm afraid you will be the next one to be cheated by Goldman Sachs.
"Thank you for your call, Mr. Blankfein. However, I need to conduct more evaluation on whether to join the acquisition of Unocal. If there is a result, I will be the first to inform you, and I hope we can continue to cooperate."
After giving this reply, Barron hung up the phone and dialed another number:
"Help me check the shareholder structure of Unocal and the capital behind these shareholders."
…
"Our family has a deep connection with Cambridge University, and this connection has continued to this day. We cherish the various deeds that this wonderful bond has given us, and we hope that today's cooperation can continue this bond..."
When Barron came to Cambridge University and donated 50 million pounds to Cambridge University in the name of the Devonshire Family Trust Fund to establish the Devonshire Scholarship, his speech also drew thunderous applause from the auditorium.
It is indeed as Barron said, the Cavendish family has a close connection with Cambridge University.
Barron's ancestor, William Cavendish, the ninth Duke of Devonshire, once served as the president of Cambridge University.
Lucy Cavendish College at the University of Cambridge is named after Lucy Devonshire, the daughter-in-law of the 9th Duke of Devonshire, who was dedicated to women's education.
Since then, the Devonshire family has continued to provide funding for academic research, including the Cavendish Laboratory.
In addition to generous donations to Cambridge University, Baron's DS Capital quantitative fund and Woaw Technology have many collaborative projects with Cambridge University.
Therefore, all in all, it is very easy for the descendants of the Cavendish family to enter Cambridge University.
If Barron's predecessor had not been too rebellious and disliked the environment in Cambridge, and yearned for the prosperity of London, he would probably have been one of the famous alumni of Cambridge University...
"You just said it very well, dear. Those girls in the audience were all crazy about it..."
Before Barron left Cambridge, Tamaran Ecclestone quietly got into Barron's Rolls-Royce Phantom. As soon as she got in the car, she said this to Barron in a coquettish tone.
"Does that include you, darling?"
Being held in the girl's arms and feeling the soft squeeze, Barron couldn't help but sigh that this girl was so well nourished...
"You're annoying. By the way, shall we go to the manor now?"
"Yes, I plan to stay there for a few days. What do you think?"
"That's great. I kind of missed it, too."
The next place they were going to was Chatsworth House. It was now spring and the colors there were brighter, and it was the most beautiful time of the year.
Speaking of which, Barron hasn't been back there for a while. Bonnie is unable to get away for the time being, so Barron took the opportunity of coming to Cambridge University to bring Tamaran with him.