193 Battle of Hutchison Whampoa (2)
On the fourth day after Cheung Kong bought Hutchison Whampoa shares, an even more exciting news completely detonated the entire Xiangjiang:
"Evergrande announced that it has owned 18.3% of the shares of Hutchison Whampoa, and from today, it will acquire all the ordinary shares of Hutchison Whampoa on the stock market for HK$10 per share, up to a maximum of 49.9%!"
Countless people who eat melons can't sit still: the Chinese-funded tycoon has just become one of the four major foreign companies, but he has been challenged by another Chinese-funded company!
Isn't this civil strife?
Isn't this a pain for Chinese capital, but fast for British investment?
Countless reporters ran to Xu Zhi's home and the company to block people, after arriving at the company, more than 20 security guards who had already been prepared insisted on separating the reporters, and just got out of the car, a reporter asked loudly: "Xu Sheng, Mr. Li Jiacheng has acquired Hutchison Whampoa, and now you are also involved, and you already have a large amount of equity, when did you start preparing to acquire Hutchison Whampoa?"
Xu Zhi didn't answer directly, and walked to the door of the building accompanied by the security guard, before turning around and answering: " Hutchison Whampoa is one of the top companies in Heungjiang, but in recent years due to long-term poor management, resulting in serious losses, but I am quite optimistic about this company, at present, under the management of Hutchison Daban Welli, the company has begun to turn losses into profits, but the biggest problem is that the debt is too heavy, so I here call on the board of directors of Hutchison Whampoa to increase financing, Evergrande is willing to provide one billion Hong Kong dollars of financing to Hutchison Whampoa Company, to provide sufficient funds for the company's future development!"
"A billion Hong Kong dollars?" all the reporters immediately became lively, Xu Zhi's meaning is very clear, providing financing is not a loan, but a private placement of shares in exchange, the total shares of Hutchison Whampoa are only 400 million shares, even according to Evergrande's purchase price of 10 Hong Kong dollars per share, 1 billion Hong Kong dollars of financing is enough to obtain another 20% of the shares, plus all the shares of Evergrande itself, you can acquire Hutchison Whampoa Company in an instant.
Another reporter asked: "Xu Sheng, some time ago, you and Mr. Li Jiacheng joined forces to acquire Jingzhou Yingxiao, and now you are acquiring Hutchison Whampoa at the same time, will you split Hutchison Whampoa this time like last time?"
Xu Zhidao: "This time the situation is different, I don't know about Mr. Li Jiacheng's actions, and our Evergrande Company also really wants to acquire Hutchison Whampoa, as early as a year ago, we were already acquiring the shares of Hutchison Whampoa, and Li Jiacheng was still the major shareholder of Wharf at that time.
A few months ago, in order to be able to successfully acquire Hutchison Whampoa, I asked Mr. Shen Bi, the head of HSBC, about the intention of buying all the shares held by HSBC at a premium of 50%, but I was refused, I thought that HSBC would be optimistic about the development of Hutchison for a long time, but I did not expect that Mr. Shen Bi would sell the shares of Hutchison to Mr. Li Ka Shing at a more favorable price!"
After listening to this, a reporter immediately asked: "Xu Sheng, Mr. Shen Bi did not choose to sell to you at a high price, but chose Li Jiacheng, do you think there is any problem here?"
Xu Zhidao: "In this world, there is freedom of buying and selling, and HSBC is unwilling to sell it to me at a high price, which is an internal matter of HSBC, and I have no right to interfere, and I don't want to ask!"
All reporters immediately knew that they had gotten big news, especially reporters from some British-funded newspapers, and they must know that the Chinese were very happy these days, because the Chinese-funded company had acquired one of the four major foreign banks, but the British-funded were quite angry.
After Hutchison was taken over by HSBC in '74, Jardine Matheson, Swire, Wheelock, and even overseas consortia were interested in taking over, but Shen Bi rejected everyone on the grounds that Hutchison was not the best time to sell.
Now the sale to Li Ka Seng was decided in the absence of the directors of Jardine Matheson and Swire. (Jardine Matheson's Taipan is a director of HSBC)
But at this moment, it turned out that someone had bought it at a high price, and it was directly rejected by Shen Bi alone, and he didn't even report to the board of directors.
Another reporter asked: "Xu Sheng, at present, you and Mr. Li Jiacheng are both major shareholders of Hutchison Whampoa, how should we deal with this problem? Who will take over the operation of Hutchison Corporation?"
Xu Zhidao: "At present, I have not negotiated with Mr. Li Jiacheng on this matter, this morning Hutchison Whampoa will hold a board meeting, sorry, everyone, I am going to Hutchison Building soon, so this is the end of the interview here!"
"Xu Sheng......" Many reporters still have a bunch of questions, but there are too many bodyguards, and they are all stopped at the door, but when the bigwigs will gather in the Hutchison Building, after everyone thinks about it, they immediately pack up and go to Hutchison Whampoa.
......
According to Heungjiang's company law, if you hold 16% of the company's shares, you can directly join the board of directors, get a seat on the board, and have 20% of the voting rights!
Li Ka Seng took over 22.65% from HSBC, Xu Zhi owned 18.2%, and the two directly became directors of Hutchison Whampoa!
When Xu Zhi and others arrived at Hutchison Whampoa, it was only 20 minutes before the start of the board of directors, and Wei Li, Li Jiacheng and others had already arrived.
"Xu Sheng, I didn't expect to see you in a few months, we are going to have a big cooperation again!" Li Jiacheng did not get nervous because Xu Zhi intended to acquire Hutchison Whampoa, but greeted him politely.
Xu Zhi said with a smile: "We are really fateful, we have a common eye on the original Jingzhou Yingxiao, and the same is true of the current Hutchison Whampoa." ”
Li Jiacheng said: "That can only say that the hero sees the same thing, Xiangjiang is just a small city, excellent assets are actually very limited, you and I both intend to expand, and it is normal to meet together." ”
Xu Zhi nodded and said, "Then how is Li Sheng going to solve this problem now?"
Li Jiacheng said: "Xu Sheng, Hutchison Whampoa is not a Yingxiao in Jingzhou, it is impossible to split it like last time, Xu Sheng's main business is not real estate, nor is it a traditional industry, and Xu Sheng's age is still young, and it is difficult to control such a big company as Hutchison."
And I, Cheung Kong Industrial, have been operating real estate for more than 20 years, if we cooperate with Hutchison's huge real estate, we can definitely get the maximum benefit for all the shareholders of Hutchison, what does Xu Sheng think?"
That's a good thing, but I still can't say yes. Xu Zhi smiled and refused.
If it is just an investment, this is indeed the best way, Li Jiacheng has been operating real estate since 59, and in just 20 years, he has held 14 million square feet of real estate, surpassing Hongkong Land to become the largest landlord in Hong Kong.
At the same time, Cheung Kong also began to actively participate in the auction of Central and other places, and inserted the sharp blade into the headquarters of Hongkong Land, as long as another 10 years, the scale of Cheung Kong will exceed Hongkong Land, and Hutchison because of the chaos of internal management, lack of funds, but in the original history, in a few years, Hutchison came back to life in the hands of Li Jiacheng, the market value increased from 3.87 billion Hong Kong dollars in 1980 to 9.85 billion in 1984, and the profit also increased from 411 million Hong Kong dollars to 1.167 billion, surpassing Jardine Matheson and Hongkong Land, becoming the third largest listed company in the Hong Kong stock market, second only to HSBC and Hang Seng Bank.
It's a pity that Xu Zhi is not just for investment.
Li Jiacheng frowned and said: "Xu Sheng, you and I will only lose if we fight, so there is no benefit!"
Xu Zhidao: "In this case, I can buy the Hutchison shares held by Li Sheng at my current price, and Li Sheng can get hundreds of millions of Hong Kong dollars in and out!"
Li Jiacheng shook his head and said: "I already have an agreement with HSBC, it is impossible to sell it!"
Xu Zhi also smiled: "Then you can only lose both!"