Pacific Petroleum purchased a 38.6% stake in Gulf Oil Company for a total of US$4 billion.

It was originally less than four billion US dollars, but Xia Yu was not short of the million US dollars and directly rounded up the figure.

This funding, of course, all comes from the Galaxy Fund.

After all, Pacific Oil Company is not owned by any consortium, so it naturally does not touch the funds of those banks.

Moreover, the funds required to take over the assets of the Mellon Group this time are very large, and those are the funds that need to be assisted by banks.

Although major banks have previously mobilized a lot of funds to support financial companies in going long on the pound, the yen and the stock markets of various countries.

However, after Mellon fell ill, Xia Yu ordered various financial companies to make changes and find other external banks to allocate part of the capital so that their major banks could raise funds.

In this way, you only need to pay a part of the deposit and pay interest, and you can use funds from other banks without the need for actual collateral, which is the most convenient and quickest.

As for the cost, it is nothing more than exposing part of the long-selling activities to the supervision of other banks.

However, considering the general trend of the global financial environment, we are going long anyway, and it does not matter if we expose a part of it. It will not attract hatred and there is no risk.

With this US$4 billion, the Mellon family has more than US$10 billion at its disposal.

Now, the Mellon family has a lot of confidence.

Reversing its previous conciliatory attitude, it has frequently launched attacks in the capital market.

The purpose was the equity interests of New York Inn, Pittsburgh National Bank and General Reinsurance Company.

Moreover, the Mellon family is completely unreasonable and tyrannical. If the premium is not enough, it will be five floors. If someone comes to snatch it, it will be doubled.

Anyway, it’s inevitable!

Many original shareholders fell to the Mellon family's dollar offensive.

I can’t help it, it’s really too much!

At the same time, the Mellon family continued to replenish ammunition and sell off assets.

Xia Yu did not reveal his relationship with the Polaris Consortium, but only stated that he was his ally. As for what the Mellon family wants to guess, that is their business.

Since Polaris Capital acquired Wells Fargo, Wells Fargo has never stopped making mergers and acquisitions.

Moreover, the targets of mergers and acquisitions are not aimed at banks that are difficult to acquire, but rather take the bottom line and target community retail banks in various states.

The influence of these banks is still limited to each state, and deposits mainly come from residents. Due to strength issues, they lack high-yield investment channels. Therefore, they have only empty assets and annual operating profits are not very good.

And Wells Fargo is backed by Polaris Capital, and behind it is Xia Yu, so there is no problem of running out of funds.

Therefore, Wells Fargo's acquisition of community banks is a big move.

In just a few years, Wells Fargo has become a well-deserved major bank in the United States through continuous mergers and acquisitions.

How fierce is it?

Fifty-seven local community banks were acquired in five years!

Bank assets are the third in the United States to exceed US$100 billion!

More than Chase Manhattan Bank and Morgan Guaranty Trust Company of New York.

In terms of assets, it is second only to First Citibank and Bank of America!

The total depositor deposits have also exceeded 100 billion US dollars, which is more than First Citibank and several billion US dollars less than Bank of America.

Wells Fargo is joined by Toronto-Dominion Bank of Canada, Northern Trust Bank of the United States and East West Bank.

Together, these three banks and Wells Fargo have $200 billion in banking assets.

Therefore, although the liquidity of the Polaris Group is not necessarily comparable to that of the Rockefeller Group, which owns hundreds of financial companies, it is still comparable to that of the First Citigroup Group.

With so much money in hand, it is not easy to acquire the assets of the Mellon Group.

For US$210 million, it acquired 22.4% of the shares of Amity, a well-known chain drugstore in the United States and the second largest chain drugstore in the United States.

US$570 million to acquire 19.3% of the shares of Bergen Brusweig, a large American pharmaceutical retail and health insurance services company. This company is the core company of the California consortium and was previously penetrated by the Mellon consortium.

US$140 million to acquire 22.8% of the shares of Mylan, a large generic drug company that went public in 1973. This company has since become the second largest generic drug company in the world, but it is only now emerging.

US$220 million to acquire 18.7% of Comcast Corporation, Pennsylvania’s largest cable TV, broadband network and IP phone service provider.

For US$1.07 billion, it acquired 15.7% of the equity of Sunoco of the United States. This 99-year-old company is a comprehensive group. In addition to being the second largest base oil service company and the third largest motor oil manufacturer in the United States, it is also involved in the chemical industry.

, coal, real estate and other industries. In 1980, it acquired Texas Pacific Petroleum Company for US$2.3 billion. In 1984, it entered China and established a joint venture with Sinopec to establish China Sun Oil Company.

Purchased a 14.2% stake in Hershey Company, North America's largest chocolate and candy company, for US$390 million.

He bought 16.1% of the famous American Heinz Company for US$320 million. This company is a century-old company in the field of nutritional food. It was later fully acquired by Buffett and 3G Capital for US$28 billion.

There are also equity interests in the industrial sector such as Air Products Co., Ltd. 13.7%, ppg Industries 16.3%, and Crown Holdings 24.2%.

These three companies are large companies in the fields of industrial gases and coatings, coatings and specialty materials and fiberglass, and industrial packaging and equipment.

In addition, there are 12.2% of PPL Company (Pennsylvania Power Company) and 11.7% of Lincoln National Group in the financial field.

The six companies combined spent a total of US$1.19 billion.

None of the above companies are core companies of the Mellon Group and are assets of value investment.

Of course, it cannot be ruled out that the Mellon consortium has the intention to annex these companies later.

It is a pity that with the advent of this crisis, the Mellon family had to abandon these unimplemented plans.

They chose to sell off the equity of these companies in exchange for US$4.11 billion to recoup their blood.

In addition to the value investment equity asset fire sale, the Mellon family also sold 70.4% of the equity of the Philadelphia Navy Yard, the 15th largest in the United States, to Wells Fargo for US$1.03 billion.

In another Pennsylvania shipyard, ranked tenth in the United States, the Mellon family retained 33.4% of its shares and sold 31.7% of its shares to Wells Fargo Bank for US$600 million.

Leaving this equity behind proves that the Mellon family has not given up yet, but Xia Yu is also happy to do so.

In this way, the Pennsylvania Shipyard is backed by the Polaris Consortium and the Mellon Consortium.

By gathering the power of the two major consortiums, it will be much easier to compete for orders for warships and submarines from the U.S. Navy. Maybe in a few years, the Pennsylvania shipyard will break into the top five.

As for the steel field, the Mellon Group has sold off all its assets.

The wholly-owned Huiling-Pittsburgh Steel Company was sold for US$3.1 billion.

Allegheny-Ledrum Industries, which is well-known in the field of specialty steel, sold 90.4% of its shares for US$2.84 billion.

A 33.5% stake in Armco Steel was sold for US$1.61 billion.

A 34.7% stake in National Steel was sold for $1.25 billion.

The four companies were sold for a total of US$8.8 billion.

Including other assets sold, the Mellon Group took a total of US$14.54 billion from the Polaris Group.

After a series of intensive transactions, the Mellon Group's liquidity suddenly exceeded 30 billion U.S. dollars, and it suddenly felt confident.
Chapter completed!