Reborn Tycoon Rise

"It has nothing to do with me," Xu Zhi said. "However, you two have to think clearly whether you will be forced to retire with failure at this time, or whether you will continue to control the largest financial group in Hong Kong. This is a matter of heaven and earth." the difference?"

"The future is uncertain," Newbijian said.

Xu Zhi shook his head and smiled: "Given the current situation of Yihe Land, how confident are you two that you can handle the well-prepared Keswick family?

When you took over, Jardine Matheson Group was so powerful. The First Financial Group in Xiangjiang was well-deserved, not much worse than HSBC. But now Land has become Xiangjiang's 'debt king', owing nearly 200 With a debt of HK$100 million, Jardine Matheson Group was also dragged down due to equity issues, and the profits of the entire group dropped by 80%.

As long as a shareholders' meeting is held in Keswick, you two can calculate among yourselves how many shareholders will be willing to support you again? "

Niubijian did not answer, and Bao Fuda asked: "What Xu Sheng means is that if you acquire Land, the two of us will still be in our current position?"

Xu Zhi nodded and said: "Yes, my original intention was to only acquire Land, but considering the ownership structure of Yizhi Mutual Holdings, once the acquisition of Land is really successful, Jardine will also acquire it, and if the two of them can do this, If you provide me with enough help during the process, there will be no change in your two positions after the event is completed. At the same time, I will also inject capital to help Land get out of the predicament. There may be some business changes in the Jardine Matheson Group, but Mr. Newbijian will be the same. You are still Taipan of Jardine, and Bao Fuda, you can continue to manage Land."

Newbijian said: "Xu Sheng's ambition is too great, and even the Jardine Group will not let him go. This will definitely cause the Keswick family to fight back with full force."

"I only acquire land, will the Keswick family be indifferent?" Xu Zhi shook his head and smiled and said: "My original intention is indeed to only acquire land, and although Jardine's overseas business is not good, it is not without merit. , if it can be acquired, it may not be impossible to operate it well."

In the 21st century, Jardine Matheson Group is one of the world's top multinational companies, with hundreds of subsidiaries, including several flagship companies. In terms of scale, Land Group is only a small part of the entire Jardine Matheson Group.

But the current 1980s are completely different. There are currently many branches of the Jardine Group, involving agriculture, mining, construction, energy, automobile trade and many other industries. These are the industries in which the Jardine Group aggressively expanded overseas from the 1950s to the 1970s. , but none of these overseas branches can take action. Most of them suffer serious losses or have no hope of long-term profits and require capital injections.

If it had not been dragged down by overseas business, Jardine Matheson Group would not have become weak, and the original Wharf would not have been snatched away by Bao Yugang.

At present, the core and most attractive asset of the entire Jardines Group is only the Land Group, and the others are dispensable. However, although these companies are losing money, their foundations are still there. After all, they have been managed by Jardines. Within decades, as long as funds and development direction are provided, some of these leading companies can become flagship companies of the Jardine Group.

"Perhaps I will leave Yihe, and I will not retire with great honor, but as a loser, I am better than a traitor." Obviously, Niubijian was not impressed and still rejected Xu Zhi.

"Traitor?" Xu Zhi smiled: "Mr. Newbijian, this sentence is enough. The company you serve is the Jardine Group, not the Keswick family, and I just want to learn from the Keswick family. Just taking control of the Jardine system in our hands does not mean destroying the Jardine system.

If I control Jardine Matheson Group, I can help Land get out of its current huge debt, and Jardine Matheson can also return to normal. In this way, isn't it the best of both worlds? "

"Just like this, it's not enough." Niubijian remained unmoved.

"Okay, then if I tell you two that I also own a large number of Land Company shares, would you still be willing?" Xu Zhi said with a smile.

Niubijian nodded and said: "The stocks in Xu Sheng's hands should not only be Land, but also Yihe, right?"

"It seems that my estimate is correct. You have known it for a long time." Xu Zhidao.

"After Wharf, we at Jardine Matheson arranged a special financial department to keep an eye on every move of the company's stocks. Some time ago, we discovered anomalies. A large number of handbag companies were constantly absorbing the stocks of Jardine Matheson and Land. Behind this This person should be Xu Sheng, right?" Bao Fuda said.

"Not bad." Xu Zhi nodded and admitted. In the early stages of the acquisition, because it was not in a hurry, it was difficult to find the transactions hidden in the daily routine.

However, as time passed, fewer and fewer individual shares were circulating on the stock market, and the total size of transactions became larger and larger. This naturally attracted the attention of Jardine Mathe's senior management.

"How many shares of Jardine Land do you currently have in your hands?" Newbijian asked.

"20.4% of the land and 18% of the Jardine shares." Xu Zhixiao said: "In terms of equity, I have surpassed the Keswick family and am the largest shareholder of the Jardine family."

"It's true that you are the largest shareholder, but the Keswick family still has strong connections within Jardine's board of directors and management. I was able to become Jardine's chief executive not because these people are loyal to me, but because they think No one in the Keswick family at that time had the ability to manage Jardine Matheson better than me." Newbijian said: "Xu Sheng, you represent Chinese capital. If you come forward to launch an acquisition, this will touch all the internal affairs of Jardine Matheson. The interests of British management and board members will inevitably be on the side of the Keswick family."

The acquisition of British capital by Chinese capital is currently a concern for all British companies in the Hong Kong capital market and British people working in Hong Kong. After Wharf was acquired by Bao Yugang, almost all the British employees inside were eliminated.

After Xu Zhi acquired Hutchison Whampoa, although in order to reflect Huayang's policy of equal treatment, no large number of former British employees were laid off, important positions within Hutchison Whampoa were gradually replaced by Chinese, even though the current chairman of Hutchison Whampoa Being British cannot change this trend.

Although there are currently many factions and serious internal strife within Jardine, these are all issues between the British. Once Jardine is coveted by Chinese capital, all forces will immediately unite.

Xu Zhidao: "Of course I understand this, so what I want for Land is absolute controlling rights. As long as we have controlling rights, all conspiracies and strategies will have no effect in the face of absolute strength."

Newbijian said: "Then what do you want me to do?"

Xu Zhi smiled and said: "It's very simple. For me, funds are not a problem at the moment. The biggest trouble is not being able to acquire enough land shares. And if the price is forcibly raised, let alone the Keswick family, even if Even ordinary investors will know the problems.

Therefore, I need Jardine and Land to gradually lift the mutual control of Jardine and release some of their shares. In this way, I will have the opportunity to acquire 34.9% of the total number of shares. "

"Xu Sheng, even if you really acquire 34.9% of the equity, you may not be able to control the entire Land, let alone Jardine." Newbijian reminded.

"I know this, I have my own plan." Xu Zhi nodded and said.

It cannot exceed 34.9% because the Hong Kong government stipulates that the new share that triggers a general takeover offer is 50%. Therefore, if the acquisition reaches 49.9%, you can easily control the acquired company and avoid triggering a general takeover. .

If the other party controls 49.9% of the shares, it is impossible for the other party to hold more shares. The acquisition is naturally successful, but the new regulations now require that anyone who acquires 35% of the shares must propose a full acquisition.

Another rule is that after one year of holding 35% of the shares, the only major shareholder can increase its shareholding by 5%, up to 45%. This provision also tacitly allows the original company's controlling shareholder to hold shares greater than 35%. % more equity.

Therefore, the problem faced by the acquiring party is that when its acquisition reaches the upper limit stipulated by law, the controlling family of the other company may have more equity than its own!

This is a dead end, and the only way is to trigger a general takeover bid, which may not be successful.

A comprehensive takeover offer means that when the acquirer reaches the legally stipulated share, it must issue a takeover offer to all shareholders holding shares at the latest price. This is mandatory for the acquirer, and other shareholders, including the company's original controlling shareholders, will Can refuse.

At the same time, even if enough shareholders really agree to sell the stocks, the stock price will inevitably rise due to the outbreak of the previous acquisition site. This is a huge economic pressure for the acquirer. This is the threshold set by the British Hong Kong government to protect British-owned enterprises. Some British-owned enterprises with low control have become difficult to acquire because of this provision. Those enterprises with funds and capabilities, such as the four major foreign banks, have become difficult to acquire. Giants are almost impossible to acquire under the protection of this policy.

With the size of Land, even if it is in difficulty, the market value is tens of billions of Hong Kong dollars. Once it goes head-to-head with Jardine in the stock market, the stock price will inevitably be higher. At that time, it will be difficult for even Xu Zhi to trigger a comprehensive takeover offer. rise.