Reborn Tycoon Rise

"It's only 10 billion Hong Kong dollars." Xu Zhi smiled nonchalantly: "Do you think I can't take it out?"

Land's current total market value is about HK$10 billion. Considering the forced privatization, there will be a certain degree of price increase. However, Land is currently in a debt crisis and its future is uncertain. This ratio will not be very high, and Evergrande itself has If we acquire a quarter of Land’s equity, 10 billion Hong Kong dollars would be enough for full privatization.

How much is 10 billion Hong Kong dollars?

If it was before the linked exchange rate, it was worth 2 billion U.S. dollars, but now it is only 1.28 billion U.S. dollars. If it was the former, it would be a bit difficult for Xu Zhi to come up with it, but one billion U.S. dollars is still very easy.

Midea has already taken out the mortgage to obtain the funds to acquire Disney, but the Blackstone Fund in the United States is a larger treasure trove, holding a large number of stocks of high-quality American companies. The current total assets are as high as 3.5 billion U.S. dollars. As long as some shares are used, You can obtain US$1 billion in funds from Citibank. Citibank has long had the intention to cooperate. After all, although the Blackstone Fund is extremely confidential, the funds must also be handled through banks. Citibank is the main partner of the Blackstone Fund. One of the banks naturally knows the size of Blackstone Fund.

Only then did Newbijian realize his mistake, because Xu Zhi acquired Disney in the United States. According to public information, plus Disney's own debt, Xu Zhi owed nearly US$4 billion in debt due to this acquisition. , with such a huge debt, even Hutchison Whampoa's profits some time ago were only a fraction.

What's more, several large-scale investment projects planned by Hutchison Whampoa also require huge amounts of funds. In order to understand his opponents, he specially invited several electronics experts to deduce Midea's profits. The result is that it can cope with Disney's huge debts. , but it is difficult to have other energy to make large-scale acquisitions.

As for Evergrande Group, although it owns a lot of high-quality land and properties, it is also suffering from the downturn in the Hong Kong stock market. It may be able to spend more than one billion Hong Kong dollars in cash, but it is far from enough to completely annex Land.

Therefore, Niubijian's team unanimously believes that Xu Zhi will acquire Land, but it is unlikely to be fully privatized, and will only pursue 34.9% control rights and the support of the shareholders' meeting. Therefore, his layout was to create a confrontation between Jardine and Land's equity. Only under the checks and balances of multiple major shareholders could he continue to manage the company. However, unexpectedly, Xu Zhi was actually prepared to spend tens of billions of Hong Kong dollars to fully annex Land.

No matter how cunning a plan is, it is so vulnerable in the face of absolute strength!

No matter what Newbijian thought, all the shareholders and reporters below exploded. Some shareholders who wanted to sell their stocks were happy, while some shareholders who wanted to hold them for a long time began to think carefully: After all, Should you continue to hold it or sell it at a high price? As for reporters, they naturally want to obtain first-hand information.

As the crowd below surged, a reporter stood up, raised his microphone and asked, "Xu Sheng, at what price are you prepared to fully privatize Land Group?"

Xu Zhi said: "Currently, there are a total of 2 billion shares of Land Holdings. When the Hong Kong stock market closed yesterday afternoon, each share was worth HK$5.03, and my bid was HK$6 per share, an increase of 20%."

"It's only 6 yuan!" Many people below were obviously not satisfied with the price of this home. Another reporter suddenly asked: "Mr. Keswick, what do you think about Mr. Xu's privatization of the entire land?"

Many people immediately looked at Simon Keswick. After all, the Jardine Group has been controlled by the Keswick family for a hundred years, and Land is the crown jewel of the Jardine Group. Once the Land is lost, the existence of Jardine will be lost. It makes no sense and cannot be compared with other major foreign companies.

The Keswick family is bound to do its best to protect its core assets, and the only way to face a hostile takeover is to buy back shares at a higher price. This is naturally the idea of ​​all small shareholders present.

One is a newly minted Hong Kong tycoon, and the other is a wealthy and prominent family that has been running for a hundred years. No matter who is strong or weak, they both have the power to fight. When the two tigers fight, it is retail investors like them who profit in the end. Back then, Yihe and Bao Yugang fought hard with Wharf, and I don’t know how many people got multiple rewards from it. If Xu Zhi and the Keswick family come to compete now, everyone present will probably be looking forward to it!

Simon Keswick had recovered and said in a deep voice: "Xu Sheng proposed a comprehensive acquisition of Land. This is his freedom. In Xiangjiang, anyone with money can make this request. However, Jardine currently holds 30% of Land. No matter whether Xu Sheng will launch a comprehensive takeover offer, we at Jardine will not sell our shares!"

Xu Zhi glanced at Niubijian, who was silent and still thinking, and then said to Simon Keswick: "Mr. Keswick, it seems that you are not qualified to represent the entire Yihe!"

"..." Simon Keswick couldn't answer for the moment. Currently, one of the people who can represent Jardine is the board of directors and management headed by Niubijian, and the other is the current shareholders' meeting. He is indeed not qualified to represent Jardine. and make any decisions.

Another economic reporter stood up and asked: "Mr. Xu, currently Jardine and Land are in a state of mutual equity control. If you acquire Land, you will also acquire Jardine. What will you do with Jardine Group? Will they also fully acquire the entire Jardine Matheson Group?”

There was another noisy sound below. Apparently, the shareholders of Jardine Matheson Group were also having a heated discussion. On the rostrum, both Keswick and Newbijian looked ugly.

Xu Zhidao: "I know that Land currently holds 30% of the shares of Jardine and Evergrande currently holds 23% of the shares of Jardine Group. If the acquisition of Land is really successful, according to the current acquisition law in Xiangjiang, we will also A comprehensive acquisition offer will be triggered, but we will also decide whether to proceed with the acquisition based on the actual situation!"

Triggering a comprehensive takeover offer does not necessarily require a forced takeover. If the acquirer decides to cancel the takeover, it must reduce its shareholding to less than 35% within the specified time. At the same time, the law also stipulates that once the takeover is abandoned, in the next six months The shares shall not be increased again within the period to trigger another acquisition offer, and within the next two years, the price for the next acquisition shall not be lower than the previous one.

The routine here includes various protections for the acquired party. In fact, it is just the Hong Kong government’s attempt to protect British capital!

Simon Keswick also noticed the way Xu Zhi looked at him after he finished speaking.

Xu Zhi continued: "How to deal with Jardine is a matter of the future. Starting from tomorrow, I will officially arrange for people to purchase the shares at the price of 6 Hong Kong dollars per share on the four major exchanges. Anyone who wants to sell the shares can do so." Go to the transaction and you can get a cash check from Bank of East Asia on the spot.

Friends from the media present also hope that this news can be released tomorrow.

According to the law, the time limit for a comprehensive acquisition offer is 30 days. I hope you will consider it carefully. "

A comprehensive takeover offer is mandatory for the acquirer, but the acquiree, that is, ordinary shareholders, can refuse the transaction.

And if after the general acquisition offer is issued, 51% of the shares are obtained and the entire company is controlled, the acquisition is already successful. However, the law restricts the acquirer and must make the acquisition at the same price.

However, there is an extremely special situation, that is, other shareholders or shareholding institutions do not agree with the price of the comprehensive acquisition offer. In this case, a confrontational situation will form, and the law also stipulates that the acquirer does not need to continue to raise the acquisition price, as long as Just complete the obligation to trigger the takeover offer, that is, acquire all shareholders who agree to the offer price.

This kind of regulation has also led to a rare special situation, that is, among listed companies, the controlling party's shares exceed the maximum limit of 45% in regulations, but it has stabilized.

And if you acquire 67% of the shares, you must completely delist. After all, you have absolute control and shareholders have no rights. This is not in line with the principle of fairness in Hong Kong law.

The last situation is when the acquisition reaches 90%. At this time, you can appeal to the court and force the remaining stock holders to sell at the same price to help the acquirer carry out full privatization. This was the case when Land acquired the milk company. Eventually, Real Estate acquired the milk company.

In other words, under normal circumstances, once it exceeds 35%, unless special circumstances occur, comprehensive privatization will basically be completed step by step.

…

The shareholders' meeting spent another half hour in noisiness. Everyone was ready to end it. Xu Zhizheng was also about to leave, but was stopped by Simon Keswick and Newbijian!