Based on the current stock price of 9 yuan, plus the overflow of 5 percentage points, the current market value of 17% of the shares in Zeng Guoye's hands is about 800 million Hong Kong dollars. If it becomes one billion Hong Kong dollars in three years, the increase is about 25%, and the annualized rate is a little more than 8%, which is not too much.

You must know that the average annual return of many funds can reach double digits, even the share price of Huade Real Estate once broke through the price of 12 yuan at its peak, and Zeng Guoye's net worth at that time also exceeded 1 billion Hong Kong dollars.

Zeng Guoye knows very well in his heart that the market value of stocks is one thing, but it is another thing to really exchange it for cash, and there is no fund in Hong Kong that can accept an investment of nearly 800 million Hong Kong dollars at one time, unless it is those hedge funds in the United States, but how can these hedge funds in the limelight easily accept external investors?

"Mr. Zeng, I hope you think about it." After Lin Li left such a sentence, he said goodbye and left.

To be honest, a visit like Lin Li's attitude was almost rude, but Zeng Guoye didn't have the heart to think about these at this time, he was still thinking about the truth of what Lin Li said before.

If the country that Lin Li said is about to take action against the overheated real estate phenomenon on the South China Sea Island, then Zeng Guoye has the obligation to remind Zhao Shixiong to let Huade Real Estate withdraw from the South China Sea Island as soon as possible. But Zhao Shixiong, who has always been stubborn and self-serving, is unlikely to listen to him, and with Zeng Guoye's understanding of him, he will even suspect that Zeng is engaged in some conspiracy behind his back. In case what Lin Li said today is true, Huade Real Estate will fall into the abyss of no recovery at some point in the future.

The first quarter earnings report is coming soon. It is believed that the market will react soon, and if it does not apply for a temporary suspension of trading, Zeng Guoye's current net worth of more than 800 million Hong Kong dollars will further shrink.

Whether to go or stay, Zeng Guoye fell into confusion for a while.

……

In the hall of the Zhao family, Zhao Shixiong was lying on the sofa weakly, with a helpless expression on his face, and after Zhao Jiajie explained the reason for the matter, he was also shocked. Just made a humiliating act at the party, and it brought "annihilation" to his family, what happened to this shijie. Is it still the shijie you know?

The three note-issuing banks all went to curry favor with the guy who was going to buy it. took out billions of cash to acquire a listed company in one go, and it is still unclear whether he wants to get an absolute controlling stake or a full acquisition, but no matter which outcome it is, the Zhao family will inevitably be marginalized. And then step by step was kicked out of the board.

Seeing his father, he seemed to be several years old in an instant. Zhao Jiajie was also remorseful in his heart. But now is not the time to regret it, and the top priority now is to find financial advisors and white knights in mergers and acquisitions.

"Dad, let's look for the white knight, shall we? These things are still left to the professionals. I believe that as long as we find another company willing to take over, we can still retain some shares. Ignoring the hot pain on his face, Zhao Jiajie hurriedly said.

"What, what white knight?" Zhao Shixiong asked abruptly.

The white knight generally refers to the occurrence of a hostile merger, the company's management in order to stop the formation of a hostile takeover, has to find another "friendly" company to carry out the equity merger, of course, here the management and the white knight will reach some agreements, and may even replace the hostile merger to become the actual acquisition target.

The stock price is now hovering around 9 yuan Huade Real Estate is only a premium of 5%, which is obviously a hostile takeover, most of the shareholders present today will not agree to this price, Zhao Shixiong listened carefully to Zhao Jiajie's story, and silently weighed it in his heart, and finally made up his mind and began to make calls.

Businessmen of their generation have a very wide circle, and there are many wealthy businessmen who covet Huade Real Estate shares, so after a circle of phone calls, several heavyweight wealthy businessmen have spoken out to support Huade Real Estate, and the hearts of Zhao's father and son have finally relaxed.

At 9 o'clock the next morning, the board of directors of the Hong Kong Securities and Futures Commission and Huade Real Estate officially received a tender offer from Skyline International Holdings Co., Ltd., the representative of the investment banking department of Standard Chartered, proposing to acquire all the shares in the hands of all shareholders holding shares of Huade Real Estate.

The quotation is as follows, with an average purchase price of $9.45 per common share and $4.8 per warrant, for a total purchase price of $6.487 billion. As soon as this offer was announced, it shocked the entire market. Analysts generally believe that the price offered in this contract is too low, even outrageously low, and completely puts Huade Real Estate in a position where it has to fight back.

Sure enough, after a week-long meeting of the board of directors, Zhao Shixiong, chairman of Huade Real Estate, issued a statement to the outside world, saying that the bidder's bid was too low, which was simply a humiliation to the management of Huade Real Estate, and that the other party was only notified the day before the action, which was enough to be called malicious. At the same time, he believes that the share price of Huade Real Estate is worth at least HK$20 per share, and the board of directors will not agree to the current acquisition.

As soon as the news was released, the share price of Huade Real Estate rose from HK$8.9 to HK$9.4, and many retail investors and institutions began to fish in troubled waters in the market, hoping to make a big profit with the help of this acquisition.

In the next few trading days, the share price of Huade Real Estate easily broke through HK$9.45 and continued to rise, making the Standard Chartered offer unattractive.

In the face of the rising pressure of the stock price, Standard Chartered made another offer after consulting Zhongshi in the United States, this time at 11 yuan per ordinary share and 6.5 yuan per warrant, with a total purchase price of 7.958 billion yuan.

Just when the two sides were at a stalemate, Huade Real Estate announced the first quarter financial report, the financial report of a large shrinkage of profits immediately gave the troubled waters a blow to the fisher, these people who are not qualified to see the financial report in advance would have thought that the performance of Huade Real Estate in this quarter would be so bad, they quickly gave a reaction and began to sell Huade Real Estate shares in the market, so that the stock price that had been rising finally stayed at about 10.5 yuan.

In addition to some followers, there are also many institutions that hold shares in their hands, and they expect to be able to exit when the acquisition is successful, but they all ignore that the acquirer has already revised a takeover offer, which means that the acquisition is full of variables and is entirely likely to fail.

Sure enough, just when investors in the market were still digesting the acquirer's revision of the acquisition offer, the day after the release of Huade Real Estate's financial report, Huade Real Estate had a large transaction and the Hong Kong Stock Exchange announced the suspension of trading. The subsequent announcement was that Shijie Shipbuilding Transportation Co., Ltd., a subsidiary of the Huo family, another veteran wealthy merchant family in Hong Kong, bought 158 million shares and 9.635 million warrants of Huade Real Estate at a price of HK$16.00 ordinary shares and HK$9.8 per warrant, for a total purchase price of HK$2.626 billion, and the sellers were the Zhao Shixiong family and other holders. Through this change of shareholding, the Zhao family now holds 10% of the shares of Yohuade Real Estate, Zeng Guoye holds 5%, Shijie Shipbuilding holds 32% of the share capital in one fell swoop, and the warrants hold 43% of the shares.

The white knight has appeared!

The situation has developed to the present, and it is no longer a contest between Zhong Shi and the Zhao family, but a contest between Zhong Shi and the Huo family. You must know that the Huo family has been changing its business in the past two years, Shijie shipping is no longer as prosperous as it was in the eighties, and the head of the Huo family is actively changing their roles and preparing to go ashore, and now this acquisition has given them a very good opportunity.

Originally, the Huo family wanted to prepare to eat all the shares in the hands of Zhao Shixiong and Zeng Guoye, but according to the provisions of the SFC's "Code on Takeovers and Mergers and Acquisitions", during the acquisition process, if a person other than the promoter directly or indirectly holds more than 35% of the voting shares of the listed company, it must issue a general takeover offer to other shareholders. That is, when the proposal of Tianji International Holdings to acquire Huade Real Estate was responded to by the majority of shareholders, in order not to harm the interests of other shareholders, the Huo family, which held about 32% of the shares, must also put forward the same or higher acquisition conditions, and Skyline International Holdings did not get a majority response from other shareholders, so there was no need for Shijie Shipbuilding to fulfill the corresponding obligations.

For the Huo family, Zhongshi, who was born out of nowhere, can not do anything about Zhongshi, in fact, although he has the financial resources to increase the offer, but Huade Real Estate has been deeply trapped in the South China Sea Island, or in a few months, this company will face a real catastrophe, and it is not too late to acquire it.

The Standard Chartered M&A department that got the news announced the failure of the acquisition after the white knight appeared, and at the same time absorbed 18% of the common shares and 12.8% of the warrants in the market, according to the agreement reached by Zhao Shixiong, Zeng Guoye and others and the Huo family, the two of them used the funds on hand to absorb the chips thrown by Skyline Holdings, so that the final control of the two of them reached 33%, barely maintaining the controlling stake.

The chips that Skyline International Holdings had managed to absorb changed hands again. Only this time they sold at a price of 16 yuan, which was much higher than the average price of 10.5 yuan before, and finally made about 500 million Hong Kong dollars in this acquisition.

This takeover war ended like this, much to the disappointment of market observers, although the acquisition process has ups and downs, and the white knight was killed in the middle, but from beginning to end, the acquisition sponsor did not show a strong desire to acquire, and the offer was ridiculously low, which made many people in the industry unable to understand.

But soon, they were shocked again by the follow-up of this seemingly closed acquisition case, almost to everyone's surprise, the behemoth of Huade Real Estate would be acquired twice in a year, and the acquirer was still the same company, but the second time, they would not have the appearance of the white knight like this time, and there would not be such a high purchase price. (To be continued......)

PS: I would like to thank book friend Qin Shuhua for his monthly ticket support! In addition, the author is considering other ways to prevent the news of the book exchange group from being released here, and I hope that everyone will wait a little longer, especially to apologize to the metal fiber that has been supporting the book. The author's recent study and work tasks are really heavy, and the update is indeed a bit insufficient, so I hope you will be more considerate of this. Zuihou, thank you again for your support!