Chapter 54: Poison Pill Project [Ask for Collection, Ask for Recommendation]

When Su Qier pushed away the hotel room of Sun Hao and the third uncle, the third uncle was chatting with Sun Hao.

"You're the third uncle, right?" Su Qi'er stepped forward and asked.

The third uncle looked up and saw Su Qi'er coming, and said, "Su Qi'er, I finally saw you today, I heard Sun Hao mention you before." It's better to be famous than to meet, and when you see each other today, sure enough.

Qi'er, do you know about Sun Hao? ”

"Third uncle, the heavens will descend on the people, and they must first suffer their minds, strain their muscles and bones, starve their bodies and skins, empty their bodies, and act chaotically, so they are tempted to endure and benefit what they cannot. You have to know that Sun Hao has become the chairman of the Sun Group so young, what kind of enterprise is the Sun Group, I believe you know better than me, he will definitely encounter such and such problems when he takes over the Sun Group at such a young age, which is also what he must experience to grow, if he does not experience these, he will never be able to grow, so, in order to let Sun Hao have a better growth, don't worry too much about him when he encounters difficulties, let him thrive! Suqier persuaded.

"Qi'er, having said that, after all, he is the only successor of the Sun Group, if something really happens to him, and he really doesn't know what to do in the future, can you help me?" The third uncle's eyes were full of pleading.

Su Qi'er helped the third uncle gently wipe away her tears and comforted: "Third uncle, Sun Hao's life is great, he will be fine, besides, his influence in society is so great, no one will treat him lightly." ”

"I hope it's like you said, but we can't leave it to fate, or let's call the police?"

Su Qi'er thought for a while and said, "Third uncle, did you see clearly what the two men who kidnapped Sun Hao looked like at that time, and were they very fierce?" ”

The third uncle thought for a while and said, "At that time, they didn't move roughly, but just whispered a few words to Ah Hao, and Ah Hao got into the car directly with them." ”

"Third uncle, if you basically conclude that you were not kidnapped, maybe someone invited him, and it was inconvenient for him to talk to you at that time, so he left directly with the other party." Su Qi'er said to the third uncle with a smile

When the two of them were guessing with each other, Sun Hao pushed open the door and entered the room, and the two looked up and saw Sun Hao coming in, they were all taken aback, and the third uncle ran forward with an arrow step, hugging Sun Hao and crying bitterly. Su Qi'er looked at the appearance of their uncle and nephew, and suddenly felt sour in her heart, and the woman wanted to leave.

Just as Su Qi'er was about to leave, she was stopped by Sun Hao: "Qi'er, wait a minute, I still have something to discuss with you." ”

Su Qi'er had to stop and said, "What's the matter?" Can't you go to the company tomorrow? ”

"Something urgent! Do you know who called me away tonight? Sun Hao made a fool of himself.

"Who?"

"Lin Xiaopei, Lin Xiaopei, the public relations department of the Wu Group!"

"Ah Hao, did she tell you to do it?" The third uncle asked puzzled.

Sun Hao motioned for Su Qi'er and the third uncle to sit down, lit a cigarette, took a slow puff and said: "Lin Xiaopei asked me to talk to me about the acquisition of the Sun Group by the Wu Group, she said that she came to me on behalf of Wu Tianxiong and asked me to give up the leadership of the Sun Group, saying that if I agree to be acquired by the Sun Group now, I can also be a general manager, if I don't approve now, if the Sun Group is merged by the Wu Group, I will be swept away." ”

"Did you promise her?" The third uncle asked.

"How is it possible, the Sun Group is the work of the second uncle all his life, how can I let it be lost in my hands? I rejected it on the spot. However, Lin Xiaopei said that they have begun to make large-scale acquisitions of the Sun Group, and with the current performance of the Sun Group, they are really afraid that if they really make a hostile takeover on the stock market, the Sun Group "

"Sun Dong, I don't know if you've heard of the poison pill plan?" Su Qier said.

"Well, I heard a professor talk about it when I was in college before: the poison pill plan first originated from the shareholder warrant plan. This warrant scheme authorizes the shareholders of the target company to subscribe for warrants of the target company's shares at a high discount agreed in advance, or they can also subscribe for warrants for the successful acquisition of the company's shares. In 1985, the Delawance Chancery court in the United States ruled that the poison pill procedure was legal, confirming that the poison pill procedure could be carried out without direct shareholder approval. As a result, the poison pill technique was widely adopted in the United States in the late eighties. Sun Hao responded.

"Yes, that's the poison pill program, and I'll give you a few examples here: 1984, Krona. In order to resist the takeover of M&A expert Goldsmith, Zraba has developed a triple poison pill plan: first, to lower dividends; The second is to declare that the new shareholders do not have the right to vote, and the board of directors shall be replaced by a maximum of 1/3 every year, and any major decisions must be approved by 2/3 votes of the board of directors; Third, when the senior person in charge of the company leaves, he must pay his salary for three years and all pensions, totaling 100 million US dollars, and the company's backbone must pay his half-year salary when he leaves, totaling 30 million US dollars. In this case, Goldsmith avoided his edge and attacked with a curve. On the one hand, he suddenly announced the acquisition plan, prompting unprepared investors to sell Krona shares on a large scale, causing the stock price to plummet; On the other hand, we secretly acquired the shares of the major shareholders and directors of the company. By July 15, 1985, Goldsmith owned more than 50 percent of the company's shares. Since he only bought shares and did not carry out a merger, which triggered the poison pill plan, he did not trigger the "poison pill". In fact, the company has been secretly controlled. On July 25, Goldsmith convened an extraordinary general meeting, in which he became the new chairman of the company by virtue of his controlling position and announced the cancellation of the poison pill program.

In November 2004, Liberty Media Group entered into a share purchase agreement with Merrill Lynch. Liberty Media Group had the right to acquire about 8 percent of News Corp.'s voting stock from Merrill Lynch in April 2005, a plan that would increase Liberty Media Group's stake in News Corp. to 17 percent, second only to Murdoch's 19.5 percent. Media mogul Murdoch would not allow any infringement of his control over the News Corporation, which he planned to pass on to his son, and immediately issued an anti-takeover shareholder rights plan: when someone buys more than 15 percent of the company's shares, or if a shareholder who already holds more than 15 percent of the shares increases his or her stake by 1 percent, every existing shareholder of the company will have the right to buy the company's shares at half price, half of the shares he already holds. Once activated, the Liberty Media Group will have to pay several times more if it wants to buy more shares in News Corp. After News Corp. released this news, Ma Long, the boss of the Liberty Media Group, immediately sold a favor and no longer continued to increase his stake in News Corp., maintaining his position as the second largest shareholder. Suqier said.

The third uncle listened to what the two of them said enthusiastically, and also joined in: "Why are you two talking so far?" Now the most important thing is how to get the Sun Group through the difficulties! ”