My 1999
Chapter 262 Battle for Sina (Part 2)
Duan Yongji was shocked and asked hurriedly: "Xu Liang? Xu Liang from Hongmeng Company?"
Not only him, but Wang Yan and others also noticed something was wrong.
11.7% plus the 8.7% originally held by Hongmeng means that Xu Liang has mastered 20.4% of Xinlang's equity, which is not a small amount.
Moreover, no one knows whether this is their end.
"I suggest that the poison pill plan be implemented immediately." Duan Yongji said immediately.
It is impossible for Damo to master Xinlang, but Hongmeng can.
At this moment, a rapid knock on the door suddenly sounded.
"Come in."
Jiang Fengnian said.
The door was pushed open, and the female secretary who came in quickly said after coughing a few times due to the second-hand smoke.
"Mr. Duan, Mr. Mao, we just received a notice from Hongyan Fund that they are going to hold an extraordinary general meeting of shareholders in Xinlang."
Everyone's expressions suddenly changed, and everyone felt a sense of oppression that the storm was coming.
They are all smart people. They instantly realized that Damo's acquisition and Hongyan's secret plan were so cleverly combined that they feared there would be cooperation between the two parties.
Duan Yongji stood up suddenly.
"Everyone, the poison pill plan must be implemented immediately."
But this time, no one echoed him.
The implementation of the poison pill plan involves major changes in Xinlang's equity, which must be reported to the SEC, which is the U.S. Securities and Exchange Commission.
It takes time to come and go.
The key is that Morgan Stanley's connections can easily allow the SEC to reject Sina's request.
Duan Yongji took a deep breath.
"Everyone, the reason why we are sitting here is all because of Sina. If we watch it being acquired by Hongmeng, Xu Liang will never allow us to be here.
Because we are not of the same mind as him.
Therefore, for the sake of our respective positions, we must put aside disputes and unite to deal with foreign enemies together. "
Although he spoke with emotion and sincerity, it was difficult to impress the veterans present.
However, Mao Daolin still stood up.
"I'll contact the SEC."
"I will contact the media and try to stop this acquisition as much as possible." Wu Zhengdao.
Jiang Fengnian and Wang Yan saw this and spoke one after another.
Duan Yongji saw this and nodded with satisfaction.
"If we all work together, we will be able to repel Xu Liang and Hongmeng's attack."
Having said that, the atmosphere in the conference room was not relaxed at all.
Everyone understands that unless they can use administrative intervention in this acquisition, it will be impossible to stop Hongmeng's invasion.
——
The morning of October 8th.
A piece of news suddenly appeared on the homepage of Xinlang.com.
"Xinlang is preparing to implement the 'Poison Pill Plan'. Hongmeng's ambition to acquire Xinlang will never succeed."
As soon as the news came out, everyone was shocked.
Isn't it that Morgan Stanley is acquiring Xinlang's shares? Why is Hongmeng Company involved again?
For a time, media from all walks of life gathered at the Ideal Building and Wangjing Building, trying to get first-hand information.
Hongmeng remained tight-lipped and did not say much to the media.
Instead, Duan Yongji was interviewed at the Xinlang headquarters, responding directly to many outside speculations and expressing Xinlang's tough attitude.
"Currently, Hongmeng and its affiliated company Xiangjiang Hongyan Fund hold a total of 20.4% of Sina's equity, which has seriously threatened Xinlang's normal operations, and we will launch a counterattack."
"Hongmeng's conspiracy to acquire Xinlang will never succeed."
"I, Duan Yongji, will never let Xinlang fall into the hands of outsiders."
Duan Yongji is confident in front of the camera, but only he knows how unfavorable the situation is for him.
Just after returning from the press conference, the secretary hurriedly came to find him.
"Mr. Duan, we have just received a letter from Hongmeng and Hongyan Fund. They have once again increased their stake in Xinlang by 4.3%, and the current total shareholding is 24.7%."
Duan Yongji's heart suddenly sank, and he squeezed the document in his hand so tightly that his veins were exposed.
——
Soft music echoed in the dining room.
Wang Zhidong looked at everything familiar around him with emotion.
"If I could have listened to your opinion earlier, maybe I wouldn't be in the situation I am in now."
Xu Liang smiled and shook the wine glass in his hand, "I believe this. Mr. Wang is one of the few people I admire."
Having said that, even if Wang Zhidong had reacted early, he could not change the overall situation with his only 6% equity.
Of course, now that he is asking for help, there is no need to offend anyone.
The smile on Wang Zhidong's face said, "I am deeply honored to hear the richest man say this."
"I'm speaking from the bottom of my heart." Xu Liang seemed very sincere.
Wang Zhidong was happy in his heart, but he was not confused yet. "Mr. Xu is asking me out now. Is it not just to talk about this?"
"Mr. Wang is indeed smart. Let me tell you straight." Xu Liang put down the wine glass in his hand and looked at the man opposite him calmly, "I want to acquire Xinlang."
Wang Zhidong's face changed slightly, and he secretly said, "Sure enough."
He had heard and seen the rumors these days, and he also understood Duan Yongji's violent reaction.
If Xu Liang hadn't forced him into a corner, this old silver coin would never have ended up in person.
"I am no longer the CEO of Xinlang." Wang Zhidong said calmly.
Xu Liang smiled slightly, "Actually, Mr. Wang can definitely go back."
Wang Zhidong's eyes lit up instantly.
"Mr. Xu means... to let me continue to be in charge of Xinlang?"
Xu Liang nodded affirmatively.
As the founder of Xinlang, Wang Zhidong's leadership of Xinlang was quite effective. In particular, he seized the opportunity of the 2000 Olympic Games and firmly established Sina as China's number one portal.
Of course, there are also mistakes, such as the cooperation with Sunshine Culture.
But overall it's still excellent.
More importantly, after acquiring Xinlang, Xu Liang will launch a series of reforms to Sina. Letting him return to preside over the company's daily operations is also a way to stabilize people's hearts.
Of course, if Wang Zhidong can't see his position clearly and publicly sings the opposite, he won't be polite.
"In order to ensure victory over Duan Yongji and allow Mr. Wang to successfully regain his position, Hongmeng needs to acquire your Xinlang equity." Xu Liangdao.
Wang Zhidong frowned.
"I can support you at the shareholder meeting."
With the lesson of being kicked out of the company last time, he has a new understanding of the role of equity.
In order to secure his position within Xinlang, he doesn't want to sell his shares.
Xu Liang shook his head, "Hongmeng wants to acquire Sina as a whole and delist it, so we must take back Mr. Wang's equity. In the future, the company will give you options in Hongmeng based on your performance."
"Why must it be delisted? The cost of such an acquisition is too high." Wang Zhidong said.
"We acquired Xinlang because we hope it can become a part of the Hongmeng family, rather than an abandoned child wandering around." Xu Liangdao.
Among other things, after Xinlang's acquisition, Bing Information's editorial team will definitely merge with Xinlang's editorial team. It is impossible for the company to maintain two departments with similar functions.
At the same time, the mailboxes of the two companies must also be merged.
Xinlang’s overseas business must be integrated with Hongmeng’s overseas portal Naver.
These are all things that must be done with absolute control.
"You can rest assured that Hongmeng will never let its own people suffer. We will acquire all the shares in your hands at a price of four dollars." Xu Liang continued.
Xinlang's stock price is now US$2.2 per share, and Xu Liang's conditions are favorable enough.
As long as he agreed, he would receive US$10.23 million.
After hesitating for a moment, Wang Zhidong asked.
"I only sell 2% of the equity, and the remaining 4% will be folded into Hongmeng Company. I wonder if that's okay?"
Xu Liang smiled and nodded, "A very smart choice. However, Hongmeng currently has two entities, one is Hongmeng China and the other is Hongmeng International. Which one do you choose?"
Wang Zhidong thought about it and chose Hongmeng Huaxia.
He doesn’t know that Hongmeng China has not started financing yet. Still like most people, they think that US$2.8 billion is the financing of the entire Hongmeng.
Xu Liang didn't explain much.
"Tomorrow you come to Wangjing Building to sign the contract."
Wang Zhidong nodded.
——
While Xu Liang continued to increase his Xinlang holdings, Duan Yongji was not idle either.
"Boss Liu, you have to help me. You are the only one who can help me now."
"Isn't your Xinlang poison pill plan? Why not implement it?" Liu Chuanzhi asked.
Duan Yongji smiled bitterly and said: "Our Xinlang is an Internet company listed in the United States. If we want to implement the poison pill plan, we must obtain approval from the U.S. Securities and Exchange Commission, which takes time.
Moreover, the timing of Morgan Stanley and Hongmeng's acquisition of Sina's equity is very well coordinated. One attracts our attention openly, while the other secretly collects equity.
This combination of light and darkness makes it too late by the time we notice it.
With Morgan Stanley's status in the United States, it can easily get the SEC to reject our poison pill plan. "
Liu Chuanzhi nodded slightly and said, "Hongmeng holds your shares, and Hongyan Fund also holds your shares. Their bosses are both Xu Liang, so that's no problem."
"We have asked the SEC that Hongmeng and Hongyan Fund are independent legal persons and can be purchased."
There was a pause.
"Boss Liu, help me contact the higher authorities. This is my greatest hope now."
Liu Chuanzhi sighed and said: "I have called you to ask. Hongmeng Company is now a high-tech enterprise focused on development by the Beijing City Government. It is difficult for the superiors to intervene directly."
Duan Yongji's heart sank, and his tone was angry and a little desperate at the same time.
"Are there no other opportunities?"
Compared with money, he is definitely no match for Hongmeng, which just raised US$560 million. In terms of influence and background, they are stronger than Xinlang.
If he doesn't care about the above, he really can't think of any other better way.
"The chances are slim, but not impossible."
Duan Yongji seemed to have grasped a life-saving straw and asked quickly: "Boss Liu, what can I do?"
"People's words are scary." Liu Chuanzhi said slowly.
"...Xinlang is currently the largest portal website in China, with more than 20 million users. Therefore, you can seize the monopoly and build momentum."
"monopoly?"
Duan Yongji hesitated and said, "Boss Liu, although Sina is the largest portal website in the country, there are NetEase, Sohu and China.com behind it. It is far from a monopoly."
"Old Duan, are you stupid? I'm not talking about the monopoly of the portal website, but the monopoly of the entire Internet. Just do the math, how many businesses does Hongmeng have now?
Internet search, games, music, literature, animation, browsers, e-commerce, email, if Xinlang is acquired, they will also enter the portal website.
Hongmeng is like a growing behemoth, a trust in the Internet industry, which has seriously hindered industry innovation and the healthy development of the Internet industry.
You need to make a big fuss about this.
Stir up public opinion and the big guys will help you. "
Duan Yongji's eyes lit up and he regained some of his energy. Having mastered Sina, he knew the power of public opinion.
"Old Duan, only children who can cry will be fed milk. Although the words are a bit rough, the truth is very clear."
Duan Yongji nodded, "Boss Liu, you are still the best. I will give the order right away."
"This is a critical time, don't be stingy with spending money, and find more influential people in society."
"Don't worry, Boss Liu, I understand this. But when the critical moment comes, your brother will help me."
"Haha, don't worry about this. It's not just me, the entire Taishan Association will be your strong backing."
After hearing this, Duan Yongji, who was originally desperate, became more confident.
Thank you to book friends ‘Fei Ge’ and ‘Yu Yan Youyuan’ for their reward of 100 starting coins each. Thank you very much.
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