Hong Kong's new giants

Chapter 451 [The one with the highest price wins]

Lee Shau Kee and his confidant Lam Ko Yen had lunch with Yang Bingzheng at the Benkei Japanese Restaurant in the Landmark Plaza in Hong Kong to discuss business.

Yang Bingzheng said: "Fourth uncle, you should have heard the rumors in Xiangjiang market recently, right?"

Lee Shau Kee asked: "But the New Times Group wants to acquire the Miramar Hotel?"

Yang Bingzheng nodded and said, "Yes! It should be the shareholders represented by Uncle Tian and Uncle Heng who invited Lin Zuhui to acquire the Miramar Hotel. My brothers really wanted to give up the Miramar Hotel, but I was reluctant to let my father leave it behind. business."

Lee Shau Kee frowned, he was very keen on the assets of the Miramar Hotel, but he didn't want to create a quarrel with Lin Zuhui.

The two have recently cooperated in the mainland. The Central Plaza is a one-time investment of three. Although Henderson only holds [-]% of the shares, the investment is huge after all.

So, he asked: "Zu Hui is not going to take over hostilely, he is now in a status of Lingran."

Yang Bingzheng immediately said: "It's true, Liang Botao called and first negotiated the conditions with us."

But after the conditions were finished, Lee Shau Kee thought it was a pity, he knew he could not join.

Originally, recalling old friends, he was very willing to take care of the next generation of old friends emotionally, and he did not want to see the business founded by Yang Zhiyun sold on the market, and it might be split up and broken into parts.

But now, the conditions of the New Era Group can be said to be very superior, and there is no opportunity to take advantage of it.

"Ah Zheng, why didn't you agree to such a good condition?"

Yang Bingzheng said: "Because I am not familiar with Lin Zuhui, I am worried that the cooperation will not be pleasant. So what the old lady said, as long as the conditions are the same, even if it is 16.8 Hong Kong dollars per share, we are willing to cooperate with you."

Li Shau Kee shook his head and said: "If there are no two conditions behind - that is, you are not allowed to continue to operate the business, and the Miramar Hotel is split; I will look at the relationship with your father and help you with whatever you say. One. But now, the price is very high and the conditions are so favorable. If I still join, you know, the strength of the New Times Group, and I took the initiative to freeze the relationship with Lin Zuhui; If we raise the price again, with our strength, we will still not be able to fight against him."

In Lee Shau Kee's view, Lin Zuhui's strength is stronger than Li Chaoren's. The important thing is that Lin Zuhui will really raise the price "regardless of the cost".At that time, only relying on Yang's 34.5% equity is not a complete insurance.

What's more, the Yang family is asking for money, and if Lin Zuhui raises the price at that time, as long as he doesn't follow up, the old lady Yang and the Yang brothers will definitely win the price.

As a result, the Miramar Group did not make an acquisition, but instead caused a commotion.

Yang Bingzheng already had this answer in his mind, so he immediately asked again: "I am not familiar with Lin Zuhui, is Fourth Uncle optimistic about this cooperation?"

Lee Shau Kee said: "Look good! But he likes to be brave and aggressive in doing things. On this point, as long as you keep a balance, it will almost be a good cooperation!"

Yang Bingzheng nodded and said, "Actually, I am optimistic about investing in the Mainland! Thank you, Fourth Uncle, for clarifying my doubts this time."

Lee Shau Kee said: "It's okay! Lin Zuhui and I are acquainted. If you have any conflicts, I am willing to be a middleman and don't make trouble."

"Thank you fourth uncle!"

In fact, in terms of deep feelings, Lee Shau Kee naturally still misses Feng Jingxi, Yang Zhiyun and others from time to time, and his relationship is far better than that of his new friend Lin Zuhui.

Therefore, if Lin Zuhui is really a hostile takeover, Lee Shau Kee will also compete for the sake of his old friend.

Even if he is no match, he can still get a higher selling price for Yang.

But on the other side.

When Li Chaoren heard the rumors in the market, he immediately became interested in the Miramar Hotel, because it was rumored that the Yang brothers were at odds, and only Yang Bingzheng did not agree to sell the Miramar Hotel. This is a "name".

In this way, although he does not have the directors to take the initiative to introduce the door, he can still offer a fair price, which may defeat Lin Zuhui.

However, he thought of Lin Zuhui's great name and wealth, and soon decided to invite Mr. Rong from Huaxin Taifu to do it together.

Soon, Mr. Rong was also very excited. Although he was suspected of offending Lin Zuhui, it was a fair price competition; the most important thing was that Li Chaoren had a very good idea, which was to spin off the Miramar Hotel.

Miramar Hotel and several restaurants and Nanhai Hotel are owned by Huaxin Taifu, while Miramar Plaza (demolition in 1988, construction has not yet started) covers an area of ​​8.6 square feet of land, and the investment of Yangcheng and Magic City (the Miramar Hotel was established very early The Miramar Garden Residential Project developed in the two places) belongs to Cheung Kong.

For a moment, the two hit it off and started to act quickly.

Wednesday, April 5.

Miramar Hotel announced the suspension of trading. The current stock price is 14 yuan per share. Since it was reported that New Era Group intends to acquire, Miramar Hotel’s stock price has risen by [-]%.

The reason for the suspension of trading was that the acquisition proposals of Cheung Kong and Huaxin Pacific were sent to the board of directors of Miramar.

On the same day, Yang Bingzheng said in front of the media:
"All the directors have not reached a consensus with Cheung Kong and Huaxin. The development potential of Miramar Property is excellent, and the net asset value is 17 yuan per share."

"Last night, I received calls from the financial advisors of Li Ka-shing and Rong Zhijian, and at 9:[-] the next morning, the acquisition proposal was sent to the board of directors of Miramar. Such a huge acquisition did not give the parties proper time. To understand, but to act suddenly, it is certainly not friendly and kind."

"And the price of the acquisition proposal is 15.2 yuan, which is much lower than the intention quotation of New Era Group! The subsidiary conditions are not enough to satisfy people!"

For a time, public opinion was in an uproar.

Yang Bingzheng's move was regarded as a public criticism of Li Chaoren and Mr. Rong, and it could be said that he offended the rich and powerful forces at the same time.

And the media is even more curious about what is New Era Group's intended offer?

It has been so long since the news broke that New Era Group has not formally submitted the acquisition proposal. It seems that it is very confident in its offer.This has always been in line with Lin Zuhui's style, buying at a premium, but later facts proved that his vision is very good, and it only takes one year to make a par price.

That night, Lin Zuhui also invited Lee Shau Kee to dinner.

During the dinner, Lin Zuhui said: "Fourth uncle, are you interested in participating in the joint development of the old wing of the Miramar Hotel (originally three old hotel buildings)!"

Lee Shau Kee was taken aback, and immediately asked, "Do you want to spin off Miramar Hotel?"

Lin Zuhui shook his head and said: "Of course not! I'm worried that after I buy only 34.5% of the shares, Li Chaoren and the others want to continue to make a full acquisition. At that time, the Yang family will lose their ancestral business. So, if you are optimistic, you can buy The two of us will only serve as directors with more than ten percent of the stock. After Mr. He is willing to retire, I will serve as the chairman of the board of directors, and we will jointly develop Miramar Hotel!"

He is also worried that Li Chaoren intends to make a full acquisition (9% impossible), so he is not very relieved.Once the shares exceed 35%, they will be fully acquired.

Although this deal is very cost-effective, Lin Zuhui does not want to invest 90 billion in cash in the Miramar Hotel.

Therefore, it is better to invite Lee Shau Kee to develop together.

Lee Shau Kee thought for a while before saying, "How do you plan to develop Miramar Hotel?"

Lin Zuhui said: "The land is naturally for the development of Miramar Shopping Center, which can build a shopping center of more than 50 square feet; and then an 18-storey office building with 4 square feet per floor can be built on it. In addition to this plan, For investment in the Mainland, I plan to position Miramar as a three-star and four-star hotel, and then make multiple planned investments. The Mainland is in a period of economic development, and the rate of return to occupancy of three- and four-star hotels is high, which can speed up the return on capital. "

Lee Shau Kee nodded frequently and was very moved. Although he is not a major shareholder, Miramar's assets and prospects are still very large, and the long-term dividends must be good.

"Good! I can buy odd stocks from the market!"

"Mr. He has 5% in their hands, and Yang has 34.5%, which adds up to 39.5%. Of course, Yang Bingzheng will keep 5%. The fourth uncle will be able to absorb it in the market when the market opens tomorrow. But you should not exceed 17 yuan per After all, once Li Chaoren withdraws, the current Miramar Hotel will not be able to support 17 yuan per share.”

Li Zhaoji nodded, and said: "That's right! As long as you reach an agreement with Mr. Yang and Brother He, we will have 40% of the shares in our hands. I know Li Chaoren, he will not raise the price again, Because your price is too high."

Lin Zuhui smiled and said, "That's good!"

In any case, the Miramar Hotel is not Lin Zuhui's overvalued asset, so he doesn't want to buy it in full.

Friday, April 5.

The 13 directors of Miramar Hotel's board of directors all accepted the acquisition proposal of New Era Group, and did not give Cheung Kong and Huaxin Pacific a chance at all.

For a while, Xiangjiang public opinion reported the details of this acquisition battle.

And when the quotation and conditions of New Era Group were announced, everyone realized that Li Chaoren's loss was not wronged. The sky-high price of 17 yuan per share is a full 36% higher than before the takeover war.

Not only that, such a high price also allows Yang Bingzheng to continue to manage the business, which shows his sincerity.

Faced with this result, Li Rong Group no longer raised the price and admitted that the acquisition failed.

Public opinion has described this confrontation as Lin Chaoren, who once again defeated Li Chaoren.

(End of this chapter)