Chapter 357 Everything is for profit

To be honest, Abel had already agreed to half of the conditions proposed by the Texas consortium.

Four banks plus three insurance companies.

Once they are merged into the internal system of Pacific Commercial Bank and Smith Capital.

Let’s talk about banks first. They will make Pacific Commercial Bank become a famous big bank in the United States in one fell swoop.

In terms of capital, Abel remembered these four banks. Each of them had approximately tens of billions of dollars in assets.

The four banks combined have already surpassed Pacific Commercial Bank in terms of capital volume.

Not to mention they also have custody assets, which add up.

In the future, it will only make Abel’s financing easier and simpler.

Then there are these banks in Texas, as well as in several nearby states radiating from Texas. These banks all have a large number of branches.

Prior to this, Pacific Commercial Bank had grown to 180 branches.

But most of these branches are on the West Coast, mainly in large and medium-sized cities in California.

There are at least 130 of them, all in these places.

The remaining fifty or so are in major cities across the United States.

But in other vast areas of the United States, there is basically no presence of Pacific Bank of Commerce.

Pacific Bank of Commerce, just like its name, has influence in the area of ​​the United States near the Pacific Ocean.

If Pacific Commercial Bank can be allowed to annex these four banks.

The new Pacific Bank will suddenly become Pacific Financial Banking Group, and it will suddenly have more than 800 branches across the United States.

In the southwestern United States, mainly Texas, it will directly become the overlord of commercial banks and retail banks.

At least in the southwestern United States.

The new Pacific Commercial Bank will have the influence of Wells Fargo in San Francisco, Bank of America in Los Angeles, and Citibank in New York State.

There are also three insurance companies, and their joining can also suddenly complement Abel's insurance field, which has just started.

The insurance industry is a very important industry in the United States.

It is a very important component and supplement to the financial industry.

Since the birth of the first marine insurance organization in the United States in the 1820s.

The insurance industry in the United States has gradually developed and grown along with its economic development.

The U.S. insurance market is the largest insurance market in the world.

The U.S. insurance market occupies a very important position both in the global insurance industry and in the U.S. domestic financial industry.

In the U.S. insurance market, there are a large number of insurance companies, including large companies and many medium and small companies. They coexist in the same market and compete fiercely.

In this competition, a few large companies are in an advantageous and monopolistic position.

For example, there are about 2,000 property and liability insurance companies in the United States, with the top 10 accounting for nearly 50% of the market share; the same is generally true for life insurance companies.

Of course, Abel would not let go of such an important area.

In fact, American Pacific Bank of Commerce has an internal insurance department.

To be precise, it is a subsidiary company called American Pacific Commercial Insurance.

It’s a very strong sense of sight, right? Who told everyone to be on the Pacific coast?

However, compared with commercial banks that are developing rapidly, Pacific Bank’s performance in commercial insurance is very poor.

Abel's previous idea was to directly acquire a large insurance company.

For example, in 911, those families suffered heavy losses.

But Abel discovered after careful observation.

In 911, those major insurance companies really suffered heavy losses.

All are insurance giants outside the United States.

Several American insurance giants, such as AIG, MetLife, CNA Financial Insurance Group, etc., basically have compensation amounts in the hundreds of millions of dollars.

And those European insurance giants all lost more than a billion dollars, or even billions of dollars.

Companies such as Munich Re, Swiss Re, and Lloyd's of London have been severely damaged and are on the verge of bankruptcy.

What is even more exaggerated is that most of the insurance policies that caused these European insurance giants to pay so much were purchased a few months before the September 11th incident.

These policies were originally owned by American insurance giants.

It's such a coincidence.

You say it's awesome or not.

So Abel’s final investigation found that the domestic insurance giants in the United States seemed to be severely damaged, but that was only what they looked like.

He couldn't buy any.

Even General Re, which has been complaining, is one of Buffett's insurance companies.

It also lost more than $500 million.

Compared with those international giants, it's just a drop in the bucket.

If Abel wants to buy, he can only buy those international insurance giants that have suffered miserably.

The problem is that they are too expensive, and they all bear huge amounts of debt. Buying them will not be beneficial to Abel's U.S. strategy.

He had no choice but to give up.

And this time, if we can get the three insurance companies of the Texas consortium at once.

Then Pacific Commercial Bank will be able to make up for its weakness in the insurance field immediately.

Just like the banking industry, Pacific Commercial Bank can suddenly become the dominant presence in the insurance industry in the southwest region of the United States.

This is why Abel heard that he could really control these banks and insurance companies.

He would almost agree with half of the reasons in his heart.

Because Pacific Commercial Bank, if you can eat these at once.

It's almost like Linghu Chong in Swordsman, who learned the Dugu Nine Swords and also learned the Yi Jin Jing.

It’s not yet time to dominate the martial arts world, but he will definitely become a peerless master in the martial arts world!

Abel was already very excited, but he had not forgotten that the Texas Consortium had something good.

It is difficult to satisfy human greed, but the greed of capitalists is even easier to satisfy.

Abel is now a qualified capitalist.

After thinking about it, Abel looked at George and spoke softly:

"Is that all there is? Compared with the last time Davis Brown and I talked, it's a little better. But it's only a little better."

"Of course."

George shrugged and kicked a stone from the wooden deck of the small dock facing the lake into the lake.

"Hughes Aircraft 15%, Texas Instruments 20%, Tannic 10%, LTV 15%."

"You can also exchange for corresponding shares of Pacific Energy, Smith Media, Pacific Supermarket Group and other companies, or Smith Capital. The same will be based on the market price."

"This is the price they quoted after my father talked to them. Both my father and I felt that it was very sincere. My father asked me to call you over and let me talk to you."

Just like George said, after listening to these conditions.

Abel also feels that the Texas consortium is really sincere this time.

The shares they took out this time have almost doubled or even more than last time.

In terms of value, this time it is all based on market price.

Even if most of the companies on both sides are not listed companies, it is difficult to calculate them using market prices.

But since the market price is used, it means that they no longer want to beat Abel.

But I really want to cooperate with Abel as an equal.

This change in attitude is a reflection of their sincerity.

Abel started thinking again, this time he didn't think for too long.

He raised three fingers to George.

"I have three ideas, or requirements."

George nodded, "You say."

"The first one. I want you or Herbert to continue talking to them. It's always good to ask for more benefits. If you ask for more, half of it will be given to the Bush family."

Can you still get this benefit from being a middleman?
To be continued...