The strongest rebirth in history

After Ye Cong cured Li Hu, Li Hu showed a very strong desire to follow Ye Cong, because if Ye Cong didn't take him away, he would probably die in this place. Every boxer here would

I signed an agreement with MIT to play at least ten games. If I want to get paid and leave alive, I have to win at least ten games in a row.

"Second Miss, look, this is the latest photo we got. It was taken by the bank camera opposite the JOJO bar on the night Li Zekai fainted. And we checked the flight records. Ye Cong did come to Hong Kong on June 2, and then

I left on June 3rd." After Ye Cong left, a man in a black suit took out several photos and handed them to Lin Shiyin.

"As expected, Li Zekai's poison was originally poisoned by Ye Cong." Lin Shiyin said while looking at the photos. Several photos clearly showed the entire process of Ye Cong entering the JOJO bar after getting off the taxi.

"Then how should we treat this Ye Cong? Should we win over him, eliminate him, or leave him alone?" the man in the black suit said.

"I think it is impossible to win him over. Based on my current understanding of him, this person is extremely arrogant and will not be attached to anyone." Lin Shiyin analyzed.

"Then the second lady means to kill him? Since such a person cannot be used by us, keeping him will definitely be a disaster in the future." It seems that the man in the black suit is not just an ordinary thug. He has certain suggestions and decision-making rights.

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"No, I think letting him fiddle with it will be more beneficial to our plan. Maybe because of him, our goal can be achieved ahead of schedule." Lin Shiyin looked at Ye Cong's detailed information in her hand and said thoughtfully.

The next day, Li Ka-shing and Ye Cong discussed the specific plan to acquire TVB shares. Yesterday, when Ye Cong gave instructions to Mr. Dong, Li Ka-shing was also present. After listening to many of Ye Cong's views, he believed that Ye Cong is really a once-in-a-century opportunity.

A business wizard, he wanted to see if Ye Cong had any creative ideas that could reduce the cost of acquiring TVB.

The following is the shareholding structure of TVB at that time

Shaw Family Shaw Brothers: (Hong Kong) Limited (26%) Shaw Funds Hong Kong Limited (6.23%) Fong Yihua (0.26%).

Investment funds: Dodge & Cox (6.18%) Marathon Asset Management (6.02%).

Other shareholders are Li Xiaohe family: Li Qian (0.09%), Li Lu Yanqun (3.95%), Li Rongsen (0.28%), Li Dasan (0.07%), and Zhou Yiqing (0.02%).

Public shareholders: (50.09%).

It can be seen that TVB’s equity is actually relatively dispersed. The largest shareholder, the Shaw family, only holds 32.49% of the shares. The most troublesome thing is the public shareholders. The current market value of TVB is about 10 billion Hong Kong dollars. According to Hong Kong law

It is stipulated that if you hold more than 5% of the shares of a listed company, you must make an announcement. Once Li Ka-shing's acquisition of TVB shares is announced, public shareholders will inevitably be reluctant to sell their TVB shares, which will at least double the acquisition cost.

Therefore, Ye Cong's method is to first contract to acquire the TVB shares of two investment funds, that is, to purchase the TVB shares of the two investment funds at an agreed time and price, and set a penalty of more than ten times the amount. The two companies purchase TVB shares.

The purpose is to sell the stock later when it reaches a satisfactory price, so as long as the price is right, the two companies will definitely not refuse.

After that, they will acquire the shares from the Shaw Brothers. If Run Run Shaw refuses to sell, according to the script, it will be Ye Cong’s time to appear. So if everything goes well, after acquiring the shares of the Shaw family and two investment funds,

The TVB shares held by the Li family should reach 44.69%.

At this time, Li Ka-shing, who is also the largest shareholder of Cheung Kong Holdings, can propose a stock-for-share merger and acquisition plan for TVB. At this time, the market value of Cheung Kong Holdings is about 500 billion, and its market value is 50 times that of TVB.

After the two mergers, the new company will still be called Yangtze River Industries, and TVB will be a subsidiary of it. Shareholders of the original TVB can obtain the corresponding shares of the new Yangtze River Industrial company based on the TVB shares they previously held.

For example, shareholders who originally held 2% of TVB shares will receive 0.0392% of the new company's shares (2 divided by 51). The original market value of TVB is 10 billion, and 2% of the market value is 2

billion. The market value of the newly merged company is 510 billion, and the market value of 0.0392% of the shares is also 200 million.

The above is just an example of a stock-for-share merger. In fact, the two companies may not necessarily exchange at equal value. The exchange ratio is not only related to the current market value of the two companies, but also the expectations of the shareholders of the two companies for the company's future prospects.

Relatedly, for example, if a shareholder of TVB feels that this merger is beneficial to him or he also wants to obtain shares of Cheung Kong Holdings, then he would rather lose part of the shares of the new company than accept the merger.

Of course, this kind of stock-for-share merger still needs to be approved by the shareholders of the two companies. On the Cheung Kong Industrial side, Li Ka-shing himself owns more than 40% of the shares, plus the shares of other Li family members, it will naturally pass the vote.

There is no problem. Moreover, as Yangtze River Corporation is the subject of the merger, there is basically no possibility of it not passing.

As for TVB, Li Ka-shing, who already owns 44.69% of TVB shares, only needs to acquire about 6% of TVB shares in the public market to control the voting results of TVB. Of course, the share exchange ratio given has a certain range.

, you can't say that you exchange one share of the new company for 10,000 shares of the original TVB shareholders. That would indeed make Li Ka-shing a lot of money, but this does not comply with the regulations of the Hong Kong Securities Regulatory Commission.

After everything is settled, Li Ka-shing can privately invest TVB to separate TVB from the new Cheung Kong Holdings through cash compensation, and then give 90% of the shares of the separated TVB company to Liu Yuling. The entire acquisition is estimated to be HK$12 billion.

It can be completed and will save at least HK$5 billion compared to directly acquiring TVB shares in the secondary market.

The remaining problem is that Liu Yuling must become a Hong Kong citizen, because the Hong Kong government stipulates that in listed companies such as television stations, mainlanders must report purchases of more than 2% of the shares, and the maximum shareholding cannot exceed 49%, so Liu Yu

If Ling wants to hold 90% of TVB shares, he must become a Hong Kong citizen.

So Ye Cong decided to have a meal with Liu Yuling to discuss the matter. It happened that he hadn't seen Liu Yuling for a long time. After returning to Anshan, Ye Cong immediately called Liu Yuling and asked her to go out for dinner.