"The opponent's roots are much deeper than ours!" This is Wang Yuye's report to Qi Zheng on the phone.

Rival Wilmar International has been deeply involved in the Australian market for many years and has deep penetration of the local sugar industry. As soon as the offer was made, it was supported by the board of directors of the CSR Group, and it almost received an exclusive invitation from the board of directors.

In contrast, although Jiagu is on par with Yihai Kerry in China, it has very little "seniority" in the field of international agricultural mergers and acquisitions.

After Jiagu International's second offer was raised to $1.7 billion, Wilmar International also quoted $1.7 billion. But obviously, the same offer, Jiagu International was rejected by the CSR board.

Wilmar International's meaning is obvious, if Jiagu wants to continue mergers and acquisitions, continue to increase the offer.

"You can't get caught up in an endless money-burning game with Wilmar International!" Wang Yuye frowned.

Although in terms of financial strength, Wilmar International is stronger. But on a single project, Jiagu International is actually fearless, as long as it is not a fool, no one will increase the price endlessly.

But the problem is that even if it is the same offer, the board of directors of CSR Group will only favor Wilmar International, which is too bad for Jiagu International.

It wasn't until Wang Yuye led the team to gain an in-depth understanding of Australia's sugar industry that it was found that Jiagu International, a "novice", was not without the possibility of achieving a reversal.

Confidence comes first and foremost from the unique system of the Australian sugar industry.

In Australia, the sugar industry chain can be roughly divided into three links: "planting, processing, and export trade". Among them, the main body of the planting link is the sugar farmer. In sugarcane-growing areas, sugar farmers rent government land to grow sugarcane, which is somewhat similar to China's "package production to households".

In the processing process, large and small sugar mills are done, but Australia is characterized by the fact that many sugar mills have shares in sugar cane growers, so the income of sugar mills is shared with sugar mills by sugar farmers on a more or less basis basis, and usually sugar farmers account for two-thirds of the profits.

This has led to a phenomenon in which many sugar mills have a highly dispersed shareholding structure. For example, half of the shareholders of CSR Sugar are sugar farmers.

Therefore, Wang Yuye immediately changed his M&A strategy, and led the team to visit the "retail shareholders" of CSR Sugar Company one by one, introduce the situation of Jiagu, and more importantly, understand their needs.

Wilmar International's Li Licheng soon learned of Wang Yuye's new moves, and couldn't help but sneer: "A novice is a novice, so many sugar farmers, can he impress them one by one?"

The shareholding structure of the Australian sugar factory also gave him a headache. However, the approach adopted by international grain merchants is to "grasp the big and let go of the small", mainly doing the work of the company's management. If successful, there are also plans to merge sugar mills controlled by sugar cane farmers to form a large sugar giant. In this way, it is also in line with the consistent idea of international grain merchants to integrate similar resources and do large-scale.

What's more, Wilmar International has a better relationship with the directors of the CSR Group, which makes it easier to get things done.

But it was a revelation for him.

Although Jiagu International does not have state-owned ingredients, they are "tender", as long as the sugar farmers are aware of this, no matter how much Jiagu International does, it is useless.

Soon, the local media began to question Jiagu International: "Just ask, is the acquisition of CSR Sugar for such a company that does not have any experience in international sugar mergers and acquisitions, or even has no sugar business, to practice its skills? Who can guarantee that they will not run our largest sugar company in a mess and lose our jobs?"

Wilmar International issued a timely statement saying: "Among its major market countries, such as developing countries such as Indonesia in Asia, the consumption of sugar is still far lower than that of developed countries, and the demand is huge." As a result, Wilmar International wanted to build a strong sugar business by leveraging its previous successful integration experience in other agricultural sectors and leveraging its strong market network in multiple Asian countries......"

......

If Wang Yuye knew about Li Licheng's ridicule, he would definitely be unceremoniously sarcastic: How could you and other fart people living in the land of projectiles have seen the power of "going deep into the masses and mobilizing the masses"?

It was only after coming into contact with local sugar farmers that he discovered that Jiagu International's lack of experience was sometimes not a disadvantage, but an advantage to some extent.

The industrial structure and layout of international grain merchants are relatively perfect, but they also have the ability to put aside local enterprises and work alone after integration, which is what the local people are most worried about.

"We have little foundation in Australia, so we don't have to worry about our interest structure being changed for many years. "Wang Yuye was very patient to do the work of pacification.

Wang Yuye said that Jiagu International respects the interests of all aspects of the local community, including the interests of the government, the industry, and the community......

For example, sugarcane growers in Australia tend to live in one place, passing on their father's business from generation to generation, and are not tempted by industrial civilization to go out to work. For this reason, they attach great importance to the protection of their own interests.

On the other hand, due to the serious aging of local sugarcane growers, the local state government also hopes that the younger generation will inherit the skills and traditions of their parents, but the new generation of growers lack investment in equipment and face the dilemma of having no land to plant.

Wang Yuye immediately expressed his willingness to sponsor and put forward in the takeover offer to expand the sugarcane planting area and support the idea of attracting the younger generation to join the sugarcane plantation, which was welcomed by the community and sugar farmers.

Fortunately, it is a careful and meticulous communication work, otherwise, Wang Yuye doesn't know that many locals initially think that China is not an English-speaking country, how to do business with them?

Cultural identity or something, he played the most slippery.

In order to win the support of more shareholders, under the planning of Wang Yuye, the staff of Jiagu International Australian Sugar Acquisition Team launched a "soft offensive" against them.

Shareholder briefings, buffets and family visits were held to promote the ideas of Jiagu International to shareholders and enhance mutual understanding. In order to shorten the emotional distance with the sugar farmers' shareholders, the team members also learned how to understand the rugby game, be able to distinguish the difference between the rules of rugby and league football, and drink with the sugar farmers shareholders in the bar......

The "soft offensive" has been fruitful. Later, when the media continued to criticize Jiagu International, some sugar farmers would even stand up and say: "Why can't we cooperate with the Chinese?"

This is more evident in the fact that after the third offer, Jiagu International quoted $1.75 billion, and at the same time committed to establishing a balanced board structure of Jiagu International, independent directors and cane farmers, maintaining the stability and operational autonomy of the CSR management structure, and the company will continue to be managed by the existing management team.

This time, it was the turn of sugar farmers shareholders to vote down Wilmar International's also $1.75 billion offer.

Li Licheng almost couldn't breathe in one breath.

Wang Yuye laughed, the "peasant line" is a great strategy practiced by great men, dare not take them seriously?

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