After his meeting with Shen Bing, Li Rong of Jinli Technology agonized for two days before finally making up his mind. Without a revolutionary technological breakthrough, Jinli's decline would be irreversible.
Li Rong held a closed-door meeting with the company's senior management, and every shareholder was deeply pessimistic about the future. In particular, when Li Rong mentioned that someone was willing to buy the company, they all expressed their willingness to sell their shares.
Although Li Rong was a shareholder, he held no more than 30% of the company. Even if he personally refused to sell, Shen Bing could still contact the others and acquire all their shares. Jinli Company would change hands regardless.
In the end, Li Rong agreed to Shen Bing's terms and allowed him to acquire Jinli Company outright.
Li Rong then called Shen Bing. After a brief conversation, the deal was settled.
Phantom Immortal Technology would pay 20 billion to acquire all of Jinli Technology and assume its debts.
The price was hardly high. After all, Jinli Company had been valued at over 100 billion just a year earlier.
But a valuation did not necessarily reflect actual worth, especially one from the previous year.
It could be said that Phantom Immortal Technology's offer was quite fair. Jinli Company had only its enormous debts to blame. Including the debts Phantom Immortal Technology would have to repay, the acquisition would cost Shen Bing nearly 50 billion.
Money! Shen Bing had no shortage of it. Phantom Immortal Technology was a money-printing machine, now earning over a billion in profit every day, most of it contributed by Dragon Scale Software.
Fifty billion amounted to less than two months' profit.
What Shen Bing was acquiring was not merely Jinli Company's brand. The deal included enormous fixed assets and intellectual property. In