The night in Hong Kong is as bright as the stars. Pen fun and pavilion www.biquge.info

Ma Huateng stood in the suite of the Intercontinental Hotel, overlooking the bustling night view of Victoria Harbour outside the window, and the excitement of the day was slightly calmed down.

It's finally available!

From today onwards, Tencent has plugged in the wings of take-off, and nothing can stop him!

With QQ's 300 million users, Pony Ma believes that no matter what kind of opponent he encounters, new business will be created. Tencent is confident that it will defeat its opponents by copying, innovating, and relying on the scale advantage of users!

Moreover, with the HK$1.4 billion raised from the listing, Tencent can also quickly carry out strategic acquisitions, quickly expand the type and scale of its business, and compete with the two rivals of Shanda and Fengxing.

He is a very calm person, but when he thinks back to the exciting moment in the process of listing today, he can't help but feel proud and ambitious in his heart.

At this time, the mobile phone on the table suddenly rang.

Who will call him at such a late hour?

Ma Huateng walked to the table with some confusion and picked up his mobile phone.

is a director of the company, Searle of the MIH company.

"Pony, no!" came Searle's eager voice over the microphone.

"What's wrong? What's going on? Don't worry, Searle, you speak slowly. Ma Huateng took a deep breath and said in a calm tone. Countless thoughts flashed through my mind.

What bad things will happen on the night of the launch?

"I just got the news that Lin Feng came to Hong Kong, and he just made an appointment with Roux, announcing that he wants to buy the shares of Tencent held by MIH! Roux's attitude is more subtle, he is now talking to the board of directors of the company's headquarters on the phone, and it is estimated that the company's headquarters will make a decision tomorrow...... Pony, I'm afraid you have to prepare for Lin Feng's acquisition of Tencent!"

"What?!" Ma Huateng was startled, his hand shook, and he almost dropped his phone to the ground.

"Searle, do you think that the board of directors of MIH will agree to Lin Feng's acquisition conditions?"

"It's hard to say, as far as I know, Lin Feng's proposal is very bold, and he is ready to buy MIH's Tencent shares with 10% of Fengxing's shares, plus 3 billion Hong Kong dollars, and a premium of 30%. This plan is very attractive to the board of directors and has a good chance of passing!"

Ma Huateng's heart was cold.

MIH holds 37.5% of the company's shares, and fully expressed his support for himself and the management team, and even promised to give up his voting rights and hand over the voting rights to him to exercise on his behalf, which was his greatest support and confidence, and now this news is undoubtedly the worst news for him.

Lin Feng's acquisition of Tencent?

No, he would never agree!

After all, Ma Huateng is very comparable, and when he heard the bad news, he still kept calm and settled down, and he said: "Searle, thank you for being able to tell me this news for the first time, this extra night is very important to me and Tencent!"

Searle sighed, "Sorry, Pony, this matter has reached the company's board of directors, and I can't help much...... What are you going to do?"

"Of course, be prepared, prepare to deal with Lin Feng's acquisition!"

“Pony…… I heard that Lin Feng promised that if the acquisition of Tencent is successful, he will still maintain and respect the founding team and the management team, and will not change any positions, including you as the company's CEO. He only asked Fengxing to be on the company's board of directors and make him the chairman of the board. …… I suggest that it's best not to lose both, maybe, can you talk to Lin Feng and see if there is any other solution?"

Ma Huateng smiled: "It's impossible for me to surrender without a fight, Lin Feng wants Tencent, yes, it depends on whether he has the ability...... Searle, without further ado, I'm going to get the team together right away and discuss what to do. ”

hung up the phone, Ma Huateng felt an inexplicable sense of relief in his heart.

It's finally here!

From the launch of FF by Fengxing to the issuance of $200 million bonds by Menglong, he always had a feeling of uneasiness in his heart, and he always felt that Lin Feng had other plans.

Now, seeing the poor dagger, sure enough, Lin Feng's target is his Tencent!

When the unknown worry became a known fact, Ma Huateng felt a sense of relief.

Acquisition of Tencent?

Even if you win 37.5% of the equity of MIH, my team and I still have 37.5% of the equity in our hands, and we have just been successfully listed, with 1.5 billion cash in our hands!

We are the de facto controller of Tencent and can also introduce a series of anti-takeover measures.

Tencent has just gone public, and it is protected by the takeover rules of the Hong Kong Stock Exchange.

If you want to take the lead and win Tencent through the acquisition of MIH, it is not so easy!

…………

For Tencent's founders and management team members, tonight was supposed to be a night of celebration and success.

But a phone call from the boss late at night gathered them all in the conference room of the Intercontinental Hotel.

They were surprised to hear a piece of news.

Just tonight, Lin Feng appeared in Hong Kong and met with Roux, the director of MIH, with the intention of acquiring Tencent's shares held by MIH, which also means that he may become the largest shareholder of Tencent in one fell swoop, and then launch a comprehensive acquisition of Tencent!

"Lin Feng, his appetite is too big! Fengxing is already a behemoth in the industry, and he still wants to buy our Tencent!" Zhang Zhidong said angrily.

Cao Liqing was calmer, and he said: "Pony, should we immediately hire Goldman Sachs as our M&A consultant to launch an anti-takeover strategy?"

Ma Huateng shook his head: "You can't use Goldman Sachs, the popular Li Dong used to be the managing director of Goldman Sachs Asia, and he has a wide range of contacts in Goldman Sachs, and the risk is relatively large...... , I suspect that during this listing, Lin Feng got a lot of our inside information...... , not good, the shares subscribed by those institutions may also be acquired by Fengxing, and he may end up with more than the 37.5% of MIH!"

Cao Zhenguo, the chief financial officer next to him, nodded with a gloomy face: "I observed today's market, and only Pony made me pay special attention to Maple Leaf Investment, which absorbed almost 30 million shares, reaching a 1.8% share, and I can't confirm whether it is popular and has absorbed more shares through other institutions." ”

Everyone's faces turned bad.

No matter who you are, it is a very bad feeling to find that someone is secretly sniping on such a special day as the listing.

As the chief administrative officer, the company's general manager, and a lawyer, Chen Yidan is more concerned about legal and rule matters: "If Lin Feng gets the shares of MIH and his shares in Tencent exceed 30%, it will trigger the conditional compulsory tender offer stipulated by the Hong Kong Stock Exchange." At that time, Fengxing will have to issue a takeover offer. What we need to consider now is how to win the support of minority shareholders and not accept the popular takeover offer. ”

Ma Huateng nodded: "Yes, if the shares of MIH Company are obtained by Lin Feng, we will face a very dangerous situation, we must hurry up and think about the anti-takeover measures tonight." ”

He looked at Yu Zhenguo: "Patrick, think about it, which investment bank has the most experience in mergers and acquisitions? We need to hire professional consultants to deal with this popular acquisition together." ”

looked at Chen Yidan again: "Charles, think about it, what anti-takeover measures can we initiate now?"

Chen Yidan pondered for a moment: "The specific needs to be determined with real professional investment bankers, but some conventional measures, such as the shark repellent strategy, that is, adding a clause stipulating that the board of directors rotation system, only one director can be re-elected every year, including director qualifications, supermajority clauses, etc., so that even if it is popular to enter the board of directors, we can also have a buffer time." There is also a yellow parachute clause for the executive team, which can increase the cost of the popular acquisition and make it difficult to reshuffle the company's management....... ”

"It's a pity that Hong Kong's customary common law system does not support the poison pill program, otherwise our defense would have been much easier. ”

"The most effective countermeasure is to buy back shares ......"

Chen Yidan will talk about the anti-takeover measures that are beneficial to Tencent one by one for everyone to discuss.

It's going to be a sleepless night.