At this time, the shareholders were talking about it!

"Makes sense!"

"This time, UOB can enter the mainland market in depth!"

"Yes, this is an opportunity not to be missed!"

"That's a bloody acquisition of UOB!"

The shareholders of the Lien family began to object, saying: "We at UOB cannot "break our bones" for this acquisition!"

"If it is acquired, according to 1.77 times the market value of Wing Hang Bank, I have carefully calculated that we at UOB will need to pay US$4.98 billion to fully acquire Wing Hang Bank!"

"This acquisition will result in a sharp reduction in our UOB common equity Tier 1 and Tier 1 ratios from 13.5% and 14.3% to 9.0% and 10.5%. ！”

"Mr. Huang, have you considered these things?"

The shareholders of the Lian family spoke, which suddenly made Huang Yicheng's face a little heavy.

At this time, other shareholders also jumped out and said: "Yes, this is very dangerous for our UOB!"

"It can be said that it hurts my muscles and bones!"

"The price is too high!"

"yes, the price is too high!"

"It's not worth the price!"

At this time, some shareholders also jumped out to oppose this sky-high acquisition.

Wong had no choice but to continue to argue: "Wing Hang Bank's weakness (fee income) is UOB's strongest point. Barring any surprises, UOB can complete equity financing at 10 to 11 times PE at a financing cost of between 9% and 9.5%, while Wing Hang Bank's return on equity is currently over 12%, with a little consolidation, EPS growth is not in doubt.

Our acquisition of Wing Hang Bank will increase UOB's loan ratio from the current 15% to 25%, and it will also be able to tap into trade finance and offshore RMB business in the region.

With a high bilateral trade volume of over US$60 billion with the Southeast Asian market, UOB can target offshore financing, and the acquisition of Wing Hang is not just about enhancing UOB's loan portfolio in the Mainland."

After Huang Yizhong finished speaking, the people of the Lien family immediately said: "Why don't we just merge UOB and choose to spend nearly US$5 billion to buy Wing Hang Bank?"

"Wouldn't it be better if you could save a lot of money through mergers and acquisitions, and then you can use the saved money to buy other mainland banks in other buildings?"

After the shareholders of the Lian family finished speaking, they immediately attracted a group of shareholders to follow.

"yes!"

"Wouldn't that be better?"

"Just a small amount of money to acquire Wing Hang Bank!!"

However, some shareholders disagreed, because they were afraid of diluting their shares, so they jumped out to oppose it.

Suddenly there was an argument at the shareholders' meeting.

At this time, the representative of the shareholders of Standard Chartered Bank said: "I feel the need to seek equity financing in Singapore to complete the acquisition"

Immediately attracted a wave of opposition.

This is the representative of the shareholders of Standard Chartered Bank continued: "Then we will acquire Wing Hang Bank, and those who are worried about the dilution of their shares can continue to increase their holdings in UOB!"

"UOB's acquisition of Wing Hang Bank is also a significant positive for UOB's share price!"

"Why are you worried about increasing your holdings of stocks without increasing their value?"

The words of the shareholder representative of Standard Chartered Bank immediately attracted the echo of many shareholders

"That's right!"

"If you're worried about your shares being diluted, increase your share!"

"Anyway, UOB's stock price will rise by then!"

"These added stocks are definitely increasing in value!"

At this time, the shareholder of the Lien family said: "Ladies and gentlemen, whether UOB will acquire Wing Hang Bank or wholly acquire Wing Hang Bank this time, I think everyone can see at a glance!"

"Vote, gentlemen!"

"I vote for the merger!"

The words of the shareholders of the Lian family suddenly attracted more shareholders to be one-sided.

"I also vote for mergers and acquisitions!"

"Yes!"

"M&A is completely greater than a wholly-owned acquisition!"

"Yes, mergers and acquisitions cost a little money!"

"The acquisition will cost nearly $5 billion, which is nerve-wracking!"

"yes!"

The final vote was 55% of the votes and the proposal was approved for UOB to acquire Wing Hang Bank.

At the shareholders' meeting of Wing Hang Bank, when the largest shareholder, Feng Gang, proposed to merge UOB, it was opposed by countless minority shareholders!

Together, these minority shareholders only hold less than 30% of the shares of Wing Hang Bank, and the remaining 70% of the shares have already been secretly held by Chen Hui, but these small shareholders do not know the details, they do not know that 70% of the shares of Wing Hang Bank have been indirectly controlled.

Previously, 70% of the shares were held by dozens of companies, but the shareholders of these dozens of companies have changed hands.

Chen Hui is now a shareholder of the shareholders of Wing Hang Bank!

"Mr. Feng, I didn't say it well before, why did you change your mind!" a small shareholder questioned Feng Gang: "We are being acquired, not merger and acquisition!"

As he said before, he sold Wing Hang Bank at 1.77 times, so that he could also get 1.77 times the market value of his shares, but now UOB's acquisition of Wing Hang Bank means that he will not get a penny!

Wing Hang Bank's assets are 4 times smaller than that of UOB, and it is completely UOB that eats up Wing Hang Bank without much effort, and after UOB acquires Wing Hang Bank, it will also redistribute its equity, and then his shares will be diluted to even less!

"Yes, Mr. Feng, please give us an explanation!"

"We want an explanation!"

"It's not easy for me to be acquired by UOB by Wing Hang Bank!"

"I don't agree either!"

These small shareholders just want money, they were very satisfied with the previous acquisition of Wing Hang Bank at a price of 1.77 times, but in the end it was a merger and acquisition, and it is no wonder that everyone is not angry!

Feng Gang looked at these small shareholders indifferently, and said unhurriedly: "There is nothing to explain, you are for the money, and I am for the future of Wing Hang Bank!"

Saying that, Feng Gang looked at these small shareholders coldly, some of them often sang with him, and when he saw him, he said: "I am the largest shareholder, and I have lost a lot when Wing Hang Bank was merged!"

In fact, his shares have already been indirectly sold to Chen Hui.

Looking at everyone, he waved his hand and said, "It's not too early, let's vote quickly!"

Feng Gang is naturally not worried about what will go wrong, now 70% of the votes are controlled by them, and these small shareholders add up to less than 30% of the votes.

There was no doubt at all about the outcome of the event, and the proposal for Wing Hang Bank to be acquired by UOB was approved by 70% of the votes at the general meeting of Wing Hang Bank.

When several major shareholders join together, they can bully those small shareholders at the shareholders' meeting, which is also the norm.

As a result, UOB and Wing Hang Bank held a press conference to announce the merger of the two banks.