Feng Yiping was also full of troubles along the way, and people kept calling in, "Man, what new moves are you going to do?"

In response, Feng Yiping mostly did not give a clear reply, "Acquisition? We have not registered a new company called Blue Ocean 2 yet?"

Although all preparations are ready, before the last moment comes, he still hopes to acquire Netflix in a peaceful way, that is, to acquire Netflix in a good faith manner, rather than choosing a tender offer or a malicious acquisition.

If you have to use malicious acquisitions, it means at least one problem. The board of directors of the acquired company is rejecting your acquisition and disagreeing with it.

The United States, a country with high incidence of mergers and acquisitions, has the most comprehensive anti-acquisition strategy in the world. If Hastings leads the company's board of directors to strongly counter Feng Yiping's offer, that is, malicious acquisition, the process will definitely be very exciting.

Even if the acquisition is successful in such a way, it will be unsuccessful to a certain extent. The integration of the acquired companies, especially the integration of human resources, will be a very big problem.

He believes that the company that acquired in this way is still applicable to the "predators" mentioned above and are disliked by the majority of investors and the Equity Court.

And he acquired Netflix for certainly not the intention of plunder.

That's why he had high hopes for Randolph. If most directors were persuaded by Randolph, Netflix's board of directors could accept the agreement to acquire it, it would be the ideal ending.

…………

The situation at Netflix is ​​a bit strange at this time.

NEXTDOOR directly obtained a 7.23% stake in Netflix held by Canadian Imperial Commercial Bank Asset Management Company, and it was reported that Netflix was its next acquisition target, and the employees' reactions were somewhat polarized.

Some people subconsciously oppose it. They do not agree that the company will be taken over by unfamiliar outsiders, which will affect their current status and income.

After hearing the news, another group of people felt a little relieved.

The company's development this year is obvious to everyone. A few days ago, the ruthless and fierce battle between the two co-founders, Mr. Hastings later became abnormal and rarely came to the office area to "travel" and so on, which also deepened everyone's concerns about the company's current situation and prospects.

Now that there are companies that are willing to acquire, that seems to be a good thing.

After Googled Feng Yiping and his NEXTDOOR online, their idea became more and more firm. With the example of Coin Star, they couldn't help but look forward to what plans did Feng Yiping make for his company?

…………

The secretary knocked on the door twice and pushed open the door of Hastings' office with some concern. "Mr. Hastings, there are still 10 minutes left before the meeting time you have been booked,"

"Oh OK," Hastings looked haggard at this time, his eyes were deep and his hair was messy. Even the goatee that had been carefully repaired for a long time was in a mess, just like the dead grass on the grassland at this time... In short, he was truly demeanor.

After returning from Montreal, he simply lived in the office for several days, so the office is now in a mess. In the past, some books and materials neatly coded in the bookcase were piled up randomly. A good office now looks like a good day is over.

He hasn't met guests these days, and of course, it's really not suitable for visiting guests.

Hastings, with a haggard face but excited expression, nervously typed into the computer. After typing the last few words, he pressed the Enter key heavily, "It's over!" He leaned tiredly on the back of the chair, looked at the office, and ordered the secretary to "clean up,"

"OK,"

Hastings took a few minutes to cleanse his face, change his shirt, and at the last second, he arrived at the conference room.

In the conference room, there was naturally no official representative of Feng Yiping at this time.

Although the Netflix shares they currently hold have exceeded 10% of the total share capital, shareholders of company who do not understand the relevant laws and do not understand the relevant risks will at least impose very strict restrictions on the appointment and removal of directors, especially appointments, in the company's articles of association.

For example, if it is simple, it will specify the time and number of people each time. If you re-elect? Yes, wait until the term is over, and then you can only re-elect one shareholder representative at a time.

So, are you counting on controlling the company by re-electing the board? And wait!

According to Netflix's articles of association, Feng Yiping's representative will not be able to join Netflix's board of directors for at least half a year.

As soon as he entered the door, he looked at Randolph. He seemed to have completely forgotten the incident of the two of them hurt each other, and smiled at Randolph very brightly.

This bright smile made Randolph, who knew him very well, feel a little chilled. What must be wrong today, or did he find a solution to the current crisis?

But is this possible? Putting aside Feng Yiping has not officially announced the acquisition of the pipa half-covered face. This sluggish performance, unrefined stock price, and severe competition, how can there be any good solution?

However, he naturally became alert.

"Hastings, what is the major matter?" A shareholder who received the notice asked.

Like many high-tech companies in Silicon Valley, Netflix's board members originally had many overlap with executives. This is a natural choice for many founding teams in order to protect their own interests.

However, at the end of 2001, the rapid collapse of energy giant Enron and communications giant Worldcom led to the U.S. government finally issued a severe Sarbanes bill last year, emphasizing that the board of directors of listed companies should strengthen the staffing of independent directors, and Netflix could only make corresponding adjustments. Currently, there are 7 independent directors in the 12 people on the company's board of directors.

"Of course it's a major issue that everyone is concerned about," Hastings said sitting down.

When he left Montreal and returned to Silicon Valley, he notified the board of directors that an interim board of directors would be held today, but the reason was not clear enough.

"It has to do with the rumor of this acquisition?" said the elderly but seemingly angry shareholder. "I don't think this is a bad thing," he said.

Hastings immediately glanced at Randolph coldly, as if asking, "Is this your grade?"

Randolph chose not to comment.

"At least, it helped the company, that is, the few people here, to accomplish the goals you haven't achieved in more than ten months," the old director continued.

This was such a slap in the face! Hastings and Randolph, who had already parted ways, had the same reaction after hearing this: they lowered their heads at the same time.

"Although we are happy to see such a situation, we must realize that this is only a temporary phenomenon," said an independent director of a well-known financial expert. "However, based on my analysis of Feng Yiping and based on his recent layout, I think that his NEXTDOOR has a high chance of wanting to acquire Netflix,"

"This is a certain conclusion," Hastings said flatly. "He will definitely acquire us. I think they are negotiating conditions with some of our other institutional shareholders off the market,"

The directors looked different, and Hastings secretly sighed when he saw this. If it were before, it would have been a voice of objection.

"So, the company, mainly you, who is the chairman and CEO of the board of directors, think about this issue and how do you prepare to deal with it?" the director continued to ask.

"This is exactly the issue I'm going to talk about this time. This is almost a year ago. Although the company has worked hard, it is not ideal for our business to grow and our stock price to rise due to the limitations of objective conditions."

"However, the results are also significant. We still maintain a considerable growth rate under the competition of powerful opponents like Walmart."

Originally, he should have to raise the profits this year, but the financial department estimated that the figure of less than 10 million US dollars made him embarrassed to mention it.

"This fully demonstrates that our Netflix team is a very excellent team,"

When he said this, he couldn't help but think of Feng Yiping, who had said this to him several times.

"We are confident that we will overcome any difficulties and face any difficulties head-on, so my team and I insist that Netflix should be led by us,"

"You will lead it," Randolph said in his heart.

"We have a clear understanding of your wishes. How will the company decide to compete with Walmart and PepsiCo, which is about to launch the same business? And while competing, it will maintain significant revenue growth?" asked another independent director.

"This is exactly the second question I want to talk about," Hastings closed his eyes and massaged them with his hands for a while. "These few days," he opened his eyes and closed his mouth, "I have been thinking about these questions these days. NEXTDOOR's sudden intrusion made me think of a solution,"

Randolph, who had not spoken, couldn't help but prick up his ears when he heard this, and the other directors were the same.

“My solution is that in the field of DVD online rental, we can consider adopting strategic cooperation with Walmart,” he said.

It's just to cooperate with the biggest opponent at present?

Seeing everyone looking at each other, Hastings stood up with a smile, "First of all, this is equivalent to reducing a strong competitor to us, allowing us to concentrate on market development; secondly, our rich experience in online leasing, coupled with Walmart's physical stores all over the world, and their strong strength will effectively promote our business improvement;"

"In the end, of course, this is the way to oppose some malicious mergers and acquisitions,"

"White Knight?" Everyone knows it right now. This is the most commonly used strategy in anti-acquisition.

It seems that the focus of these three points Hastings is on this last point. He plans to cooperate with Walmart, with the main purpose of avoiding being acquired by NEXTDOOR.

"I firmly disagree," Randolph finally spoke.

"I haven't finished speaking yet," Hastings stood there, looking at him coldly.

"I firmly disagree," Randolph ignored him. "Sorry, I can't see what the plan is, there are three points,"

"First, even Hastings, you said that we have more experience in the online rental field, which is our biggest advantage. Walmart or PepsiCo cannot catch up with it. If we cooperate with them, we will not be able to expand our existing advantages at all."

"Working with them and their offline physical stores will bring some convenience to customers, but at the same time, the costs will also rise significantly, rent, labor costs, etc. This is the main reason why we chose to start this business online instead of opening a physical store? Haven't you forgotten about Hastings?"

"Secondly, companies like Walmart, I don't think they will compete with another company at a premium for us,"

"You don't have to worry about this, I'm sure," Hastings interrupted Randolph with a little anxious.

He felt that he was not doing enough and should have waived Randolph's board seat.

"Okay, it did it and it succeeded. Netflix's ending was also acquired by it. I can't see any difference in the ending."

"And I can be 100% sure that Walmart will not allow us to operate independently. The best result is to integrate the entire online leasing business department. Naturally, our team cannot remain intact. After that, it will not be able to do it well,"

"Finally, judging from the last acquisition of NEXTDOOR, the purpose of its acquisition is to make the acquired company better, rather than to use the acquired company to strengthen its strength,"

"So," Randolph looked around, "I think if I had to make a choice between these two companies, then the result would be obvious. I would choose NEXTDOOR and firmly disagree to be delivered to Walmart for merger,"

The two co-founders actually held a completely opposite attitude with a clear standpoint, and the atmosphere of the board of directors was immediately subtle and solemn.

"Working with Walmart is a win-win situation. For the prospects of our company, I hope everyone can support my proposal. As for Randolph's concerns, I think this is not a problem,"

"Then vote," Randolph suddenly slapped the table.
Chapter completed!