Chapter 461: Jardine's Countermeasures
The boss of the Starlight subsidiary and Starlight Paging is Li Xuan's eldest brother Li Ke. At that time, Li Ke obtained a full set of pager technology from the Oriental Research Institute and set up an electronics company in Hong Kong. With the support of Oriental Commercial's distribution, Starlight Electronics' pager products have successfully entered the markets of many countries, with annual sales of more than 600,000 units.
In order to promote pagers in the Hong Kong market, Starlight Electronics specially opened the Starlight Paging Station, which now covers the whole of Hong Kong and has 100,000 users, becoming one of the largest paging companies in Hong Kong. Liu Jialiang is one of the users of Starlight Pager, he kept pressing the key to turn the page at the moment, and quickly read the message received by the pager.
"Let me tell you an explosive news, 'God of Wealth Lee' gathered four other top Hong Kong tycoons to launch a comprehensive takeover of Hongkong Group! Now that Hongkong Land's shares have been temporarily suspended by the Hong Kong Stock Exchange, 'God of Wealth' has increased the price by a quarter and let go of the acquisition of Hongkong Land's shares!" Liu Jialiang couldn't help but shout, startling the others in the office who were buried in their work.
However, everyone quickly reacted, one of the, a woman with a bit of charm, raised her head and threw a wink at Liu Jialiang, and congratulated: "Ah Liang, I remember that you seem to have bought a lot of land stocks, you have hit a lot of luck this time! Do you want to ask the boss for a leave, go and sell the stocks first, after all, it is safe to fall into the pocket!"
Some time ago, due to the suppression of various negative news, Hongkong Land's stock price plummeted. Liu Jialiang was listless at work those days, and it was inevitable that he complained a lot in front of his colleagues. Unexpectedly, feng shui took turns, he originally bought it at a price of 7.5 yuan, and now Heung Kong Holdings has offered a purchase price of 9 yuan. Enough to make him a small profit.
"Sister Li is right, Brother Liang, hurry up and sell the stock. Treat us to a big dinner in the evening!" another young female colleague in the office chimed in.
"You don't understand, Jardine Matheson will definitely not let 'God of Wealth Li' take Hongkong Land so easily. I will definitely make a counterattack! In case the price offered by Jardine is higher, the 'God of Wealth Lee' may increase the price if the acquisition is successful! So I am not in a hurry to sell the stock at all now, and I will first look at the chips on both sides before making a decision!" Liu Jialiang said with a smile.
All Starlite Paging users who have opened the stock news service immediately received the information that Heung Kong Holdings, a consortium of five companies, had fully acquired Hongkong Group. And others also learned about this blockbuster news through other channels at the first time.
For example, Liu Ruanxiong is sitting in the office of the chairman of Aimeigao Company at the moment, and the smug smile on his face can't be hidden. The investment manager of Sun Hung Kai Securities has just called him to inform him of this VIP client. News of Hongkong Land's general tender offer.
He has actually been analyzing the stocks of Jardine Holdings and Hongkong Land Group in the past few days, and finally concluded that it should be Hongkong Land that was sniped. Therefore, before the market closed yesterday, Liu Ruan Xiong decisively swept in 2 million shares of Hongkong Land through Sun Hung Kai Securities Company.
And he just bought it yesterday, and today he learned the news that Hongkong Land was being acquired by a tender offer, and the kind of complacency in his heart can be imagined. According to the purchase price of 9 yuan per share given by Heung Kong Holdings, yesterday's action has made him easily profit of more than 3.6 million Hong Kong dollars.
"Ring, ring, ring!" The phone on the desk rang suddenly.
"May I ask if it's Mr. Liu Ruanxiong? I'm Li Xuan!" The first sentence of the other party's mouth made Liu Ruanxiong stunned for a moment.
Could it be that it was "God of Wealth Li" who called him? However, Liu Ruanxiong thought that he had no intersection with Li Xuan before, and he couldn't guess why the other party suddenly called him.
"Are you Li Sheng from the Eastern Bloc?" asked Liu Ruanxiong, still a little uncertain.
"Hehe, that's right. It's me!" Li Xuan smiled heartily on the phone, "I want to invite Liu Sheng to dinner together, I wonder if Liu Sheng has time to appreciate his face?"
"I can get your invitation from Li Sheng. It's a great honor for me, I don't have any other arrangements for the evening!" Liu Nguyen Hung said very happily.
"Seven o'clock in the evening. Fu Lin Mun Restaurant in Causeway Bay, I am waiting for Liu Sheng's visit on time!"
Liu Ruanxiong was still a little confused after hanging up Li Xuan's phone. He didn't know why the famous "God of Wealth Lee" suddenly invited him to dinner. Is it because of the 2 million shares of Hongkong Land that he swept in before the market closed in the afternoon?
Liu Ruanxiong thought about it, feeling that this was the only place where he had anything to do with Li Xuan. However, Hongkong Land's total share capital is as high as 2 billion shares, and the 2 million shares he purchased are only equivalent to 0.1% of the total share capital, which does not affect the overall situation at all.
And the reason why Li Xuan called Liu Ruanxiong was indeed because of the 2 million shares of Hongkong Land. Yesterday, before the market close, Liu Ruanxiong suddenly swept into Hongkong Land's shares, which surprised Zhuang Yuhai's trading team, and thought that his acquisition had been discovered.
These traders under Zhuang Yuhai are all top masters who have been dug back from Wall Street. They cooperated with the nodes of various news released by Zhuang Yuhai and severely suppressed several waves of Hongkong Land's stock price. With Heung Kong Holdings absorbing a large amount of chips, Hongkong Land's share price still seems to be fluctuating violently, thus confusing the market's attention.
However, if you analyze it deeply, you can actually find the abnormality of Hongkong Land's stock price in these months. And Li Xuan and Zhuang Yuhai never thought that there were no smart people in this world. Therefore, after discussing last night, the five members of Heung Kong Holdings decided to start a public merger and acquisition.
Heung Kong Holdings' shareholding in Hongkong Holdings, which is scattered across multiple shell companies, has reached 24.5%, which is not much higher than the number of shares held by its major shareholder, Jardine Matheson. The funds consumed by Zhuang Yuhai to absorb these shares are less than 3.5 billion Hong Kong dollars, far lower than the original estimated level, and he still has as much as 9.5 billion Hong Kong dollars in his hands.
This morning, at the same time that Zhuang Yuhai went to Keswick's office with the tender offer, Heung Kong Holdings also applied to the Hong Kong Stock Exchange for a suspension of trading as a major shareholder of Hongkong Land, and at the same time issued a general tender offer notice to all shareholders of Hongkong Land.
Liu Ruanxiong naturally did not know what he did yesterday, which directly led to the early start of a public merger and acquisition action by Heung Kong Holdings. And Zhuang Yuhai also quickly found out. The person who swept into Hongkong Land at the end of yesterday's market was none other than Liu Nguyen Xiong, the owner of Omega.
When Zhuang Yuhai received the call. Li Xuan happened to be next to him. He didn't expect that this "Da Liu Sheng" would intersect with him in this way. to this famous "actress sniper" in Hong Kong in later generations. Li Xuan was naturally thunderous.
The invincible real estate pickling technique, a golf ball worth 10 million, this Liu Tycoon is definitely a city man who is very good at playing. Of course, Guan Meiren has been taken into Li Xuan's arms in advance, and he naturally won't be so beastly stuffing things into the most delicate places of women. But now that he has met this strange person, Li Xuan is also very interested in meeting him in person, so he has an invitation to call.
Li Xuan, together with Fok Yingdong, Kwok Henian, Hui Shixun and Lin Kwaitai, established Heung Kong Holdings Company to launch the acquisition of Hongkong Land Group, the largest in Hong Kong by market capitalization. The news soon spread to every corner of Hong Kong. A number of banks, such as Standard Chartered Bank, Jiahua Bank, Bank of China, and Hang Seng Bank, which provided credit support for this operation, have also issued announcements confirming their credit quotas.
Interested people only need to do a simple addition question, and they will find that the total amount of funds provided by these eight banks for this merger and acquisition action is as high as 9.5 billion Hong Kong dollars. Coupled with the funds raised by the five billionaires themselves, the funds that Heung Kong Holdings can use definitely exceed 10 billion Hong Kong dollars.
And if Jardine Matheson wants to fight back in the event of a surprise attack, it must raise funds as quickly as possible. The only bank in Hong Kong that has the capacity to provide such a large amount of cash to Jardine Matheson is HSBC, so Keswick called Shen Bi for help as soon as Zhuang Yuhai left.
It's a pity that Shen Bi has long known the hole cards of Xiangjiang Holdings, and he doesn't think that Jardine Matheson's current strength has the ability to turn defeat into victory. Bidding for acquisition is actually a game of money, and Heung Kong Holdings has prepared 13 billion funds. The total market value of Jardine Matheson is only five or six billion Hong Kong dollars.
Now Heung Kong Holdings has quietly increased its shareholding ratio to 24.5%, and Jardine Matheson has lost even the last bit of shareholding advantage, which can be described as a sure defeat.
Naturally, HSBC would not be on the side of the loser, so Shen Bi very decisively rejected Jardine's financing request. This led to a joint meeting with the senior management of the two companies. The atmosphere was gloomy!
"Heung Kong Holdings has invited HSBC's Victory as the acquisition advisor for this operation, so Sir Shen should have known the other party's acquisition intentions a long time ago!" said Bader Ford, the chief executive officer of Hongkong Land, with a serious face.
If Hongkong Land is acquired. These Jardine executives, who came from the Jardine family, will definitely be kicked out. So in order to keep his job, Bader Ford also had to stand resolutely with Jardine Matheson to defend Hongkong Land.
But Shen Bi's attitude has actually surfaced from one side. HSBC is not optimistic about the possibility of Jardine Matheson fighting back, which is by no means good news for everyone present.
"Mr. Chairman. I think it's time to start the follow-up plan now to show the market that we are determined to defend Hongkong Land's controlling stake!" suggested another British Hongkong Land director.
According to the resolution passed at the previous general meeting of Hongkong Land, Hongkong Land's board of directors has the right to issue up to 10% of the new shares at a price not lower than 20% of the market price. Jardine Matheson, the majority shareholder, led Hongkong Land's shareholders' meeting to approve this authorization in order to quickly increase its shareholding in case of an emergency, thereby deterring other potential acquisition rivals.
But even if Hongkong Land now issues 10% of the new shares to its major shareholder, Jardine Matheson, at a 20% discount of the suspension price of HK$7.2 per share, Jardine Matheson will have to come up with HK$1.15 billion in cash, and the company does not have so much liquidity now.
As Hongkong Land's shares have been temporarily suspended, trading can only be carried out through a stockbroking firm appointed by Heung Kong Holdings. However, on the first day, there were not many people who went to the company responsible for representing the merger and acquisition transaction, and sold their own real estate shareholders.
Most of Hongkong Land's shareholders have chosen to wait and see for the time being, waiting for Jardine Matheson's actions. In the evening, Jardine Holdings and Hongkong Land Group issued a series of announcements.
Among them, Jardine Matheson announced that it would exchange 2 new shares of Jardine Matheson at a price of 11 yuan and an unsecured bond with a face value of 80 yuan, for a total consideration of 102 yuan. In other words, Jardine Matheson gave a book purchase price of 10.2 yuan for each Hongkong Land share.
At the same time, Hongkong Land also announced that it will issue 200 million new shares to Jardine Matheson Holdings at a price of 5.76 yuan per share to acquire 50% of the shares held by Jardine Matheson Holdings, 25% of Hactl, 50% of Jardine Schindler and Renfu Hong Limited.
Gammon Construction, Hong Kong's most famous general contractor for construction works, was originally listed on the Hong Kong stock market before being privatized by the Jardine Matheson Group in 1975. Then, in 1983, Jardine Matheson transferred half of the shares of Gammon Construction to the British Trafalgar Group.
With the support of Jardine Matheson and Trafalgar, Gammon is now moving away from being confined to Hong Kong to becoming a leading builder in the Asia-Pacific region.
Hactl is the main operator of Hong Kong's air cargo industry, co-sponsored by Jardine Matheson, Swire and Cathay Pacific. With the development of Hong Kong's aviation industry, the company's profitability has increased steadily every year.
Jardine Schindler is a joint venture between Jardine Matheson and Schindler Group, the world's second largest lift company and the world's largest escalator company, accounting for about 70% of the commercial lift and escalator market in Hong Kong.
Renfu Hong is a wholly-owned subsidiary of Jardine Matheson Motor Company and the general agent of Mercedes-Benz Motors in Hong Kong and Macau, with two showrooms and eight service centers in Hong Kong and Macau.
It can be said that Jardine Matheson took out a large amount of high-quality assets this time in exchange for the new shares issued by the local company. Of course, this deal will not be so easy to finalize, and the first thing to do is to have a professional third-party appraisal company evaluate the value of these assets of Jardine Matheson.
But Jardine's move is a clear indication of its resolve, and once the deal is completed, Jardine Matheson's stake in Hongkong Land will rise to 31.8%. The original 24.5% stake in Heung Kong Holdings will be diluted to 22.3%. Jardine Matheson can regain a stake lead of about 10%, allowing it to temporarily be in a more advantageous position in this takeover and anti-takeover war. (To be continued......)