Reborn Hong Kong Wild Age

Chapter 116

The situation in the acquisition battle of Chinese Real Estate is really changing rapidly.

Bassina, Sima Gao, Feng and Li both hold shares and are the founders of the company.

But now, the most unlikely possibility appeared.

Dongdu Company, held by Gu Xiayang, who has been underestimated for a long time, has become the largest shareholder of Huaren Real Estate.

We must know that since the outbreak of the takeover war, Bassina has a certain advantage, and this takeover war was also started by it, but now it is unexpectedly the first to retreat.

In an explanation, Bassina said that the company was satisfied with the terms of the sale of China Real Estate after estimating the net asset value of Chinese Real Estate and making adjustments for subsequent stock market changes.

As for shareholders who accept Bassina's flexible approach to deal with the acquisition, in addition to receiving 16 yuan in cash, they can also get the difference compensation of 18 yuan per share from Bassina to Dongdu Company.

Shareholders can even withdraw their letter of acceptance, retaining the right to sell their shares.

So far, the acquisition situation has undergone a 180-degree change. At present, only Dongdu Company and Sima Gao are left to compete for the equity of Huaren Real Estate.

In other words, in fact, both Feng and Li have no intention of ancestral business, it is Gu Xiayang and Wei Li fighting one-on-one.

The "company doctor"'s ability in the stock market is well known, and Gu Xiayang turned his head and ate Baxiana, which made people feel emotional. Therefore, the acquisition battle did not lose its color because of Baxiana's withdrawal, but became more exciting.

"Young Master Gu, I'm not surprised that you were able to take over the shares of the Li family so quickly. After all, you and Young Master Pan are good friends. But what's the situation with Feng Binghua's 7%?"

Wanguotong Center, Liang Botao felt very pleasantly surprised.

He discussed the attack with Gu Xiayang, because he believed that the Li family was just upset, and sooner or later they would sell [-]% of the shares in Huaren Real Estate.

However, Gu Xiayang was working behind the scenes to obtain a part of the shares of Huaren Real Estate from Feng Bingfen's brother, and suddenly became the largest shareholder, which would deal a great blow to the Feng family.

Such a clean-handed operation made the outside world amazed.

"Actually, the rich and powerful families are similar. With more industries, people's hearts are naturally complicated. Feng's company has always been controlled by Sir Feng. It didn't matter if the profits were good before. Now that there is an economic crisis, Feng Binghua and the others are of course unhappy."

Some issues may seem complicated to outsiders, but they are actually very simple.

The real reason why Feng Binghua sold the shares of Huaren Real Estate to Gu Xiayang, apart from his wife's pillow complaints, was the lack of money.

But no matter what, Gu Xiayang is already the largest shareholder of Huaren Real Estate.

"Young Master Gu, judging from the current situation, our shareholding is much higher than Sima Gao's, and the purchase price is 0.8 yuan higher than what Sima Gao proposed. Now Sima Gao can be said to be completely at a disadvantage. I think it's almost the same."

Liang Botao said with a smile: "The Feng family has also begun to fight among themselves, and Feng's company has encountered difficulties. I think they will let Chinese real estate go."

"Not necessarily, the Feng family and Wei Li are not that simple."

If Gu Xiayang didn't want to take over Huaren Real Estate, he could sit back and relax now, but since he wanted to take charge of the company, it still depends on the opponent's move.

Sima Gao wants to save the defeat, the only way everyone knows is to increase the purchase price.

Sure enough, after two days, Sima Gao immediately counterattacked.

They announced that they would raise the purchase price of Huaren Real Estate to 18.5 yuan per share, and have bought 108 shares of China Real Estate at this price, further increasing their shareholding to 900%.

Sima Gao said that the latest estimate of Hua Ren's assets is 19.2 yuan per share, so the new purchase price is very reasonable and very attractive to small shareholders, and it is estimated that Dongdu Company may also accept it.

Although Sima Gao raised the acquisition conditions, his shareholding still lags far behind Dongdu Company.

Therefore, the reaction of Gu Xiayang and Liang Botao was to remain unchanged and respond to all changes, and to stay put for the time being.

Those who don't know that Gu Xiayang is determined to bite down Huaren Real Estate know that his current holding of 42.8% of the shares is equivalent to sitting firmly on the Diaoyutai.

China Real Estate resumed trading after Sima Gao's anti-acquisition, and this time the stock did not jump up like last time after the resumption of trading.

It only rose slightly at 18.9 yuan, then the stock price moved down and down, and finally closed at 18.6 yuan, and the transaction was still calm.

This also reflects that the current price of the stock is very close to the asset value, or that people do not expect the purchase price to rise any further, so they dare not grab a higher price.

At this point in the development of the situation, there has been a subtle change. The purchase price is dominated by Sima Gao, but Dongdu Company has the upper hand in terms of shareholding.

At that time, Dongdu Company already held more than [-]% of the shares, while Sima Gao held less than [-]% of the shares, which means that [-]% of the shares were held by other shareholders.

If other minority shareholders sell all their shares to Sima Gao.Sima Gao can surpass Dongdu Company and become the largest shareholder of Huaren Real Estate.

Therefore, Sima Gaoshang has a glimmer of hope.

However, Dongdu Company did not move, and did not raise the purchase price any more.

In addition to considering the actual net worth of Huaren Real Estate, Gu Xiayang also has his own plans.

In his opinion, Sima Gao may not necessarily acquire more than 50% of the shares of Huaren Real Estate.

This way, the takeover proposal does not turn into an "unconditional takeover".

In addition, everyone guessed that Dongdu Company may also wait and see whether Sima Gao will continue to increase the purchase price.

When the profit is ideal, Gu Xiayang can also sell the shares he holds in Huaren Real Estate for a profit. This is where the stock market has no solution.

In a few days, the situation was repeated, and the takeover battle entered a stalemate.

Sima Gao continued to absorb shares of China Real Estate in the stock market, further increasing his shareholding to 28%.

A week later, Sima Gao made a new move, telling the shareholders of Chinese Properties that they could directly sell their shares to Sima Gao at a price of 18.5 yuan per share, instead of accepting an offer from both parties.

This approach made the minority shareholders of Chinese Land do not have to worry about Sima Gao invalidating the acquisition proposal due to the acquisition of less than [-]% of the shares. (Generally speaking, after the acquisition is voided, the share price of the stock will mostly fall in the stock market).

Under such circumstances, Gu Xiayang began to work hard.

The "Guardian" said that more and more people have taken a fancy to the shares of China Real Estate.

And Liang Botao of Citicorp International also came forward to confirm that a third party had become interested in Huaren Real Estate, and took the initiative to approach and purchase the Huazhi shares held by Dongdu.

Among these third parties are Luo Xurui of Palibao and Brilliant Pacific Company.

"The Great Eagle Group of the Luo family is about to end?"

Regarding such news, the market feels that Dongdu Company has finally revealed its true purpose: if the price is satisfactory, it will consider selling it.

But is there a new third party joining the competition? The truth is difficult to understand for a while.

However, the transaction price of shares in China Real Estate is still slightly higher than Sima Gao's final purchase price, indicating that there are likely to be people in the market who continue to collect the shares.

But soon, both Paliburg and Brilliant Pacific denied it, saying that this was nonsense and that they had no interest in Chinese real estate.

Luo Xurui cooperated with Wei Li to snipe the Zhonghua Bus in the past, and they have a good friendship. Of course, they would not watch the rumors ferment.

Just as the acquisition battle was at a stalemate, Sima Gao's equity also underwent a major change.

Feng Bingfen's family sold all 50% of Sima Gao's shares they held to Wei Li's Asian investment company.

After this transformation, the Asia Securities joint venture owned Sima Gao, while the Feng family retreated unscathed.

However, Sima Gao still maintained the original acquisition conditions.

"What the hell? Both Feng and Li have flashed?"

"What is the current situation of Huaren Real Estate?"

The two founding families have completely sold off the shares of Huaren Real Estate, which is tantamount to announcing that they have handed over their ancestral property to others.

Wei Li, who was thought to have come to help out at the time, and Gu Xiayang, who had disrupted the situation, turned out to be the last two in the game.

So Feng and Li 'sincerely cooperated' and sold Huaren Properties together at a high price?

Wonderful!

In a sense, the Feng family and the Li family did make money at the high price of Chinese real estate, and Chinese real estate was dispensable to them.

Leaving Gu Xiayang and Wei Li looking at each other?

But in fact, both of them are optimistic about Huaren Real Estate, which is an established company with excellent assets, and the price is completely acceptable.

"Young Master Gu, our Chinese art of war emphasizes that "changing generals before the battle" is a harbinger of defeat. Sima Gao's shareholding change at the most tense moment of the battle is really not a good sign. Haha!"

For this change, Liang Botao is optimistic.

They had expected the departure of the Feng family. The Feng Group is currently heavily in debt and is really short of money.

It's just that Liang Botao didn't expect that Wei Li, the company's doctor, would not leave the field seeing that the defeat was imminent.

Soon, the deadline for Dongdu Company to acquire Huaren Real Estate expired, but no shareholders accepted it during this period, so the acquisition was declared a failure.

In the end, Dongdu Company still holds 42.8% of Huazhi shares, and has not yet decided on further actions.

Three days later, Dongdu Company finally made a decision to keep the shares in Huaren Real Estate.

They also asked to send representatives to the board of directors of China Estates and appoint an additional [-] directors, but they agreed that Feng Bingfen would continue to serve as chairman.

In addition, Dongdu Company also requested to convene a special general meeting of shareholders, but the proposal was rejected by the board of directors of China Land.

When they explained the reason, they said that Sima Gao was still acquiring Huaren Real Estate, and it was inappropriate for new people to join the board of directors at this time.

However, outsiders can also understand that Dongdu Company does intend to invest in Huaren Real Estate for a long time.

In addition to asking to send people to the board of directors, Dongdu Company also asked to buy 5% more shares of Huaren Real Estate.

The matter was approved by the Takeovers and Mergers Committee.

The veteran tycoons Feng and Li are all out of the game, and the battle for the control of Chinese real estate has turned into a battle between two new corporate masters.

When the battle situation was getting tense, Gu Xiayang didn't increase the pressure expected by the outside world, and Sima Gao also started to let the other party know.

Wei Li said that if the acquisition is unsuccessful, he is also willing to cooperate with Dongdu Company.

There are two interpretations of these words: one is to make a friendly gesture to the other party, and the other is to imply to the other party that they will not give up, hoping that the other party will retreat in spite of difficulties.

Just as the acquisition record of Chinese Real Estate was at a stalemate, something unexpected happened suddenly.

Dongdu Company's financial advisor and director of Citigroup Securities Yuan Tianfang strongly opposed the takeover and merger committee's judgment.This judgment shows that when Sima Gao acquires more than 35% of Huazhi shares, he can still use 18.5 yuan to acquire the remaining shares.

It turns out that Article 30 (35) of No. 6 of the Code of Mergers and Acquisitions in Hong Kong stipulates that when a company acquires more than [-]% of the shares, it should use the highest price it has bought within [-] months as the purchase price.

And within six months, Sima Gao bought Huaren Real Estate at a price of 22.21 yuan.

That is to say, it is reasonable for Sima Gao to purchase the remaining shares at a price of 22.21 yuan.

However, the answers from relevant parties were quite surprising. The next day, deputy securities supervisory official Mei Huixian said that the Acquisition and Merger Committee had no intention of giving any explanation for the approval of Sima Gao's exemption from raising the purchase price, and the above decision would not be changed.

Obviously, when dealing with this matter, the CSRC took advantage of its authority to favor one of the parties.

This incident was just an episode in the entire acquisition process, and had no impact on the acquisition battle.

Nothing new came out during that time, and the acquisition process became dull and tedious.

The financial consultant of China Real Estate has repeatedly expressed its opinions publicly, suggesting that minority shareholders accept Sima Gao's acquisition proposal, believing that the acquisition price has fully reflected the true value of the stock.

But even so, with the last two days left before the acquisition deadline, Sima Gao's shareholding has increased to 30.3%, still failing to reach the 50% conditional shareholding level.

When the time came, the acquisition was officially closed, and about 5% of the shareholders agreed to accept Sima Gao's acquisition proposal, increasing their shareholding to 35.8%.

However, because it failed to become an unconditional acquisition, Sima Gao decided to extend the deadline for another 14 days before it officially ended.

During these 14 days, the acquisition did not break out.

Dongdu Company has no intention of selling its shares for profit, nor has it any intention of launching a new anti-acquisition plan.

During this period, Sima Gao only received 5000 shares that agreed to accept the acquisition, which was still far from the target of 50%.

In the end, Sima Gao declared the acquisition invalid, and only retained 30.64% of the equity of Huaren Real Estate, and the remaining shares were returned to the shareholders who accepted the acquisition proposal.

Since the shareholding is lower than that of Dongdu Company, Wei Li can only be the second largest shareholder and "sincerely cooperate" with the major shareholder-Dongdu Company.

Gu Xiayang reached an agreement with Wei Li to jointly manage Huaren Real Estate.

Wei Li served as the chairman of the board of directors, and Gu Xiayang served as the managing director as the major shareholder.

From the moment when the bayonet became popular to the end peacefully, this takeover battle can be described as ups and downs.

But the reason why he was able to end peacefully, in the final analysis, Gu Xiayang refused to let go, and Wei Li didn't plan to run away after making a fortune.

The two have no intention of increasing the stock price of each other and other shareholders, so they can only "cooperate sincerely" first, and then find a good opportunity to completely drive each other out.

If he wants to drive away the current second largest shareholder and chairman of the board of directors of Huaren Real Estate, "Doctor" Wei Li, and monopolize the control of Huaren Real Estate, Gu Xiayang needs to wait for the opportunity and replenish his own cash ammunition.

Although he has not been in charge of Chinese real estate for the time being, Gu Xiayang has truly emerged in the business world after this battle.

At the age of 23, he became the major shareholder of an established company and beat the famous "company doctor" Wei Li by a small margin. Gu Xiayang didn't intend to stop there.

(End of this chapter)