Background

188bet app download and Disney have a deep connection。188bet app download founder Steve Jobs created Pixar Animation。2006，After the merger of Pixar Animation and Disney，Jobs becomes Disney director。When 188bet app download was on the verge of bankruptcy in the mid-1990s，Multiple rumors claim that Disney is studying to acquire 188bet app download，But then iPod and IPhone gradually became successful，188bet app download grows stronger all the way，But there are still rumors from time to time that 188bet app download will merge with Disney，It’s just that the acquirer now is 188bet app download。

Change

What are the biggest changes that the merger of 188bet app download and Disney will bring？The most obvious thing is that the trillion-dollar company has finally appeared，And it has the advantages of both technology and content，It can carry out good diversified development without affecting 188bet app download’s brand，Definitely enough to compete with Netflix。

But this whole thing looks like a 188bet app download movie，Too dramatic。What benefits does this have for both companies？

188bet app download’s market value is US9 billion，is a well-known company on the Fortune Global 500 list，Has a huge brand，There must be a certain premium for acquiring such a company。Refer to last year$AT&T(T)$USD 85.4 billion acquisition of Time Warner，20% premium，Based on 25% Disney premium，188bet app download needs to pay a price of approximately US4 billion。It is reported，188bet app download has approximately US0 billion in cash overseas，If Trump’s tax reform is successfully implemented，188bet app download can bring offshore cash back to the United States at a 10% tax rate，Probably not much different from the acquisition amount。

If acquired，Except cash payment，There is a high probability that equity payment will be required，This will dilute the EPS of 188bet app download shareholders，In other words，188bet app download shareholders may not be very supportive of such a transaction that may add unnecessary risks and cost all their money。

However，Cook’s interest in content is indeed well known，The company acquired secondary producer Beats for .1 billion in 2014，And hinted at a possible acquisition of a company bigger than Beats。He once stated at the shareholders’ meeting，“When 188bet app download finds a company it likes，No matter the size，Even spending a large portion of the 3 billion in cash reserves，188bet app download would also be happy to acquire。” But Disney is a company that will spend 0 billion or more。

The following table is some of 188bet app download’s recent acquisitions compiled by Wiki:

From the perspective of revenue synergy，The merger of 188bet app download and Disney may not be as perfect as it sounds in theory，It is very likely that one plus one is less than two.。The following is the revenue curve of the two companies in the past 10 years

From an operational perspective，It may be difficult to see how much integrated resources the business merger of the two companies can bring，Room for cost reduction。Except content，188bet app download also owns ESPN，Lucasfilm, the production company of the "Star Wars" series，ABC，Multiple 188bet app download tourist attractions and other various assets，Will all these assets be accepted or some of them will be divested，These are all issues that need to be considered。

Overall，188bet app download’s acquisition of Disney is a very risky thing，The possibility is expected to be relatively small。

*Source of this article: Huasheng College，Author：D.M.MartinsResearch，Original title: "Is the merger of 188bet app download and Disney reliable? 》

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