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????21世紀(jì)?？怂梗?1st Century Fox）周二宣布，公司已撤回對時代華納（Time Warner）850億美元的收購要約,，取而代之的是一項60億美元的股票回購計劃,。在收購提案宣布伊始，21世紀(jì)?？怂沟墓善痹蟮?，而時代華納的股票則應(yīng)聲上漲，看起來默多克對這個結(jié)果不太滿意,。 ????我馬上想到了三點： ????1. 好戲應(yīng)該還在后面 ????像默多克這樣的人物不會僅憑短期股票波動來制定公司的重大戰(zhàn)略方針,。至于在未來會不會再次提出收購要約或以什么樣的價格收購，?？怂乖诼暶髦兄蛔治刺?。要說這次的事只是一種談判策略，也沒什么好大驚小怪的,。 ????2. 時代華納想必是坐臥不寧 ????在?？怂钩坊厥召徱s之后，時代華納的股價狂跌,，在本文撰寫時跌了近12%,，至每股僅75美元，相當(dāng)于近90億美元的市值蒸發(fā),，但這一價格仍高于收購消息泄露之前時代華納71美元的交易價,。然而，這對時代華納董事會來說卻是一個異常沉重的消息：投資者紛紛搶籌的原因在于公司要被默多克收購,，而不是公司本身有多么吸引人,。不管怎么樣，新聞一出,，?？怂构善狈雌涞蓝兄瑵q幅超過了8%。 ????3. 杰夫?布克斯穩(wěn)賺不賠 ????如果時代華納首席執(zhí)行官杰夫?布克斯真的愿與默多克較勁的話,，那么局勢對他來說還是相當(dāng)有利的,。畢竟，就算輸了,，他還能拿到近8,000萬美元的分手費,。（財富中文網(wǎng)） ????譯者：翔 |
????21st Century Fox this afternoon announced that it has withdrawn its $85 billion takeover offer for Time Warner , instead launching a $6 billion stock buyback. Seems that Rupert Murdoch wasn’t too pleased with how his company’s stock price has slumped since the deal was first announced, while Time Warner’s shares had climbed. ????Three immediate thoughts: ????1. This is not the end ????People like Rupert Murdoch do not base massive strategic decisions on short-term stock fluctuations. There is nothing in Fox’s statement that precludes Murdoch from making a future bid, at whatever price. Don’t be surprised if this is just a negotiation ploy. ????2. Time Warner must be spooked ????Time Warner shares are cratering in the aftermarket, down nearly 12% as of this writing to just $75 per share. That’s nearly $9 billion in market cap. It’s still above the $71 or so that it was trading at prior to the Fox bid leaking, but this is a giant message to the Time Warner board that investors were bidding up based on the takeover offer, not the underlying story. Fox stock, for what it’s worth, is going in the opposite direction — up more than 8% on the news. ????3. He can’t lose ????If Time Warner CEO Jeff Bewkes really is playing poker with Rupert Murdoch, he is in a pretty sweet position. After all, who else can get snookered at the table and walk away with nearly $80 million? |
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