Chapter 71: The Decision to Suppress Victoria's Secret(1/2)
Caroline left soon.
This female devil in the New York legal profession is extremely busy, and her clients are not just Abel.
After Caroline left.
In David's office, Abel and David continued to discuss.
Abel looked at David, "Is this all?
No matter what, we continue to do our own thing?"
David Mellon nodded, "So, this is the value of the tens of millions of dollars we spend on legal fees every year."
"Well, it's definitely worth the money."
"Trust me, man." David Mellon shrugged and said again:
"Just because her last name is Rehnquist, it's worth the $10 million we spend on her every year."
"I have to say that your suggestion has benefited us a lot." Abel also said with a smile.
At that time, he and the company chose Caroline as their and the company's chief legal counsel.
Abel was a little worried.
Because Caroline is too expensive.
It is a bit more expensive than many of the top ten law firms in the United States.
Ridiculously expensive.
But then David told him that Caroline's last name was Rehnquist.
He also mentioned the name of another person with the surname Rehnquist.
Abel agreed immediately.
Through the Mellon family relationship, a long-term legal cooperation agreement was signed with Caroline.
The cost is high, very expensive.
So far, it seems that it is indeed worth the money.
This topic ends here.
The two began to talk about another thing.
"What the hell was Les Wexner thinking.
Does he really think his crappy underwear company is worth more than $600 million?"
Speaking of this matter, Abel couldn't help but speak.
He was talking about Smith Capital’s proposed acquisition of L Brands’ underwear brand Victoria’s Secret.
David Mellon picked up the coffee and took a sip.
After swallowing the coffee down his throat, David said:
"That's right. I guess there are two reasons why I refused."
"explain."
"One is, this guy Les Wexner.
Maybe I really value this underwear brand."
"Another reason is.
Les Wexner was also well-informed in New York.
He may have received word that the prosecutor's office is investigating our matter.
This guy may want to take advantage of the situation and continue to raise the offer."
"What? Isn't 600 million US dollars enough?" Abel said: "The value of the entire L Brands is only about one billion!"
"There's hope for a little more. Who would say no? Greed is the reason for Wexner's success. I'm greedy too," David said with a shrug.
Abel shook his head angrily, picked up the coffee cup and was about to take a sip.
Over at David's desk, the phone rang.
"The phone is ringing," he reminded.
David walked over, picked up the phone and took a look.
"It's Wexner," David said.
"Answer it. Let's see what this guy wants to say."
David pressed the call button and turned on the speakerphone.
The sound was a bit low, but both of them could hear it clearly.
"Hello, David."
"Good afternoon, Les."
“David, I reported to the board of directors Smith Capital’s intention to acquire Victoria’s Secret.
After research by the board of directors, we unanimously decided that we are willing to sell this very valuable brand to Smith Capital for US$600 million."
Les Wexner's voice came from the microphone.
David Mellon looked at Abel.
Abel raised his eyebrows, what did Wexner mean?
I said I didn’t want to sell it before, but now I want to sell it again.
He waved his hand and signaled David to continue chatting with the other party.
David said, "Well...that's not what you said before, Les.
I have told my boss that you are not willing to sell it."
"Sorry, that's my personal opinion.
But after the board of directors studied it, they agreed with the sale. I couldn't go against the board of directors."
【He is lying.】
David mouthed this to Abel.
Abel nodded.
As far as he knows, Les Wexner currently holds more than 51% of l Brands shares.
The entire board of directors of L Brands Clothing Group is his voice.
This is all empty talk.
"Okay. So what you mean now is... six hundred million dollars?"
"Nothing wrong."
"This price is a bit expensive, Les."
"David, what do you want to say, what do you mean?"
"I mean...the price is too expensive."
On the other side of the phone, Les Wexner was silent for a moment.
After about a few seconds, his voice sounded again.
"What do you mean, David?"
When David was about to speak, Abel took the phone away.
"I mean, Mr. Wexner, you're thinking about Texas ass shit.
That's it, Smith Capital has decided not to acquire Victoria's Secret."
"I'm Abel Smith. Goodbye, Mr. Wexner."
After saying that, Abel hung up the phone directly.
He threw the phone back to David, who took it and said:
"You really don't want it anymore? Look at what this guy means, he can buy it for at most 400 million."
“Although I don’t know why he lowered the price like this.
But wasn’t that what you always wanted before?”
When Abel asked David to contact Les Wexner.
Abel once said that Victoria's Secret is a unicorn.
Even if you buy it for a high price of 600 million US dollars, you can make several times the profit in a few years.
Now you can’t just stop buying it just because of one breath, right?
To be continued...