Episode 2 of "The Art of Negotiation" seamlessly transitions from the cliffhanger of the previous episode, as CEO Jae-sik firmly plants his stake in the ground, demanding an exorbitant $10 billion for the sale of Sanin Group's construction arm. Determined to press onward, the M&A team sets out to engage the CEO of the construction unit in discussions aimed at hammering out the details of his contract and compensation package. However, the negotiations hit a brick wall when the CEO adopts an uncooperative stance, effectively derailing the talks.
Undeterred, the team dives deeper into their investigation of the construction unit, uncovering troubling revelations: its sagging sales can be traced back to a long-stalled redevelopment project. Recognizing that this could significantly impact the asking price, they venture to the virtually abandoned site, where they uncover the crux of the problem – an elderly woman steadfastly refusing to give her blessing for the project's revival. Her consent stands as the lone barrier preventing the resumption of work.
Later, during a pivotal meeting with their investment banking counterpart, Kang Sang-bae, the team is met with a stark reality check. They're informed that securing $10 billion for the unit is a near-impossibility. Despite this daunting revelation, they soldier on, analyzing potential buyers with scrutiny. Two entities emerge as front-runners: Chamok Engineering & Construction, eager to acquire a residential construction firm following a recent setback, and BIUM D&I, which is on the hunt for a replacement after a bitter split with its former construction partner. These two companies become the focal points of their bidding strategy.
Elsewhere, Joo-no reaches out to Dong-ju, hat in hand, seeking his assistance in convincing Jae-sik to reconsider his lofty asking price. Dong-ju, however, cautions that Jae-sik's public announcement has painted him into a corner, making a reversal a formidable challenge. Nonetheless, he offers a glimmer of hope, hinting that the CEO might still be open to persuasion.
Concurrently, Soon-young takes matters into his own hands, reaching out to his contact at the Ministry of Infrastructure. He inquires about a fast-track policy that could potentially bypass resident approval for the redevelopment. Arguing that the building's dilapidated state poses a hazard, he is nonetheless warned by his contact that legal and policy hurdles make such a maneuver fraught with difficulties without the backing of appropriate legislation.
On the fateful day of the bidding, Tae-su's accomplices orchestrated a covert operation to vandalize the M&A team's office, aiming to throw a wrench into their meticulously laid plans. Meanwhile, as the anxious team anticipated the arrival of bids, an inquisitive employee from one of the prospective buyers sidled up to Jin-su, fishing for any scraps of inside information. Jin-su's eyes lit up upon catching a glimpse of the figure '$7 billion' scrawled across the documents, a knowing smile playing on his lips.
Elsewhere, Joo-no, who harbored expectations of an $8 billion bid, abruptly excused himself from the meeting. In secret, he convened with the CEO of BIUM D&I, subtly urging her to up the ante. Initially, she proposed $7.5 billion but, at the eleventh hour, revised her offer.
Later, the team unearthed a bombshell revelation: the elderly woman who had been the figurehead opposing the redevelopment had never legally owned the apartment—the deceased husband held the title. Their lack of a legal marriage rendered her objections legally null and void. The vice president of the construction unit had kept this pivotal fact under wraps, shielding her from displacement. Meanwhile, Joo-no paid homage to his late husband at a nearby graveyard, his thoughts pensive.
In the bidding fray, BIUM D&I submitted a final bid of $7.9999 billion, sealing the deal with ink. However, the contract harbored a clause allowing for a price adjustment should legitimate concerns surface.
Shortly thereafter, the CEO of the construction unit, a staunch ally of Tae-su, strategically leaked the redevelopment dilemma to BIUM D&I, prompting the company to seek a price reduction. Joo-no acquiesced but countered with a proposal: resolve the issue, and the original price would stand. The BIUM D&I CEO assented.
Joo-no then embarked on negotiations with the elderly woman, orchestrating the relocation of her husband's grave to his hometown. In return for this gesture, she finally acquiesced to the redevelopment. This maneuver allowed Joo-no to close the sale at an impressive $8.5 billion. Moreover, the deal bestowed upon BIUM D&I a public relations coup, as they leveraged their role in "assisting" the elderly woman, per Joo-no's suggestion.
Upon hearing about the $8.5 billion sale, Jae-sik finally capitulated, acknowledging the sum. During the post-transfer gala, Tae-su usurped all the credit for the deal. Meanwhile, Joo-no's sphere of influence widened—he had endorsed the vice president of the construction unit for the CEO role post-acquisition, and BIUM D&I honored this recommendation.
As the episode drew to a close, Jae-sik grew increasingly apprehensive about Joo-no's ambitions to recoup the remaining $2.5 billion through acquisitions. The final scene depicted Joo-no reaching out to someone for an investigation into a personal matter, likely tied to his earlier visit to the columbarium, leaving a tantalizing cliffhanger.
