Chapter 267, Wharf, II
Everything was arranged, and Bao Yugang immediately set off for London to meet with Shen Bi, the general manager of HSBC, the "God of Wealth", and proposed a cash loan of 1.5 billion yuan to him. Over the years, Bao Yugang has maintained a good reputation with the bank, so Shen Bi made a decision on the spot, "OK, no problem"! Bao Yugang, who has always been cautious, then contacted several other financial institutions, and they also gave Bao Yugang a "reassurance".
The funds have been secured, and Bao Yugang immediately notified Wu Guangzheng and immediately contacted a lawyer and financial advisor to discuss the acquisition plan. Then book two first-class first-class tickets from Zurich to Hong Kong. He himself booked a flight to Zurich, Switzerland, with British Airways.
Bao Yugang knew that if he flew directly from London to Hong Kong, he would definitely not be able to escape the eyes and ears of Jardine Matheson, which would arouse their vigilance. So, he had to pretend to act according to the plan, wait until he arrived in Zurich, and then quietly transfer to the flight that Wu Guangzheng had booked. By the time the 62-year-old boarded the plane back to Hong Kong, he hadn't closed his eyes for 20 hours. Perhaps, this is the so-called "soldiers are not tired of cheating", "soldiers are fast", and it really responds to the old saying - shopping malls are like battlefields!
On Sunday morning, Pao returned to Hong Kong and quietly stayed at the Hilton Hotel, which he rarely visits, where he secretly met with his financial manager. The financial manager believes that the so-called HK$100 acquisition of a share proposed by Jardine Matheson is an exchange of stocks and bonds, and the benefits cannot be seen immediately. And they have cash, even if the price is 90 Hong Kong dollars, they are sure of success. But what Bao Yugang wants is 100% success, and what he wants is a quick solution, so that Jardine Matheson has no chance of counter-takeover at all!
"If we bid $105 per share, then the opponent will never be able to fight back!" The finance manager came to such a conclusion. Pao Yugang believes that he must make a move when it is time to make a move, although it will cost an extra HK$300 million to do so. However, this is determined based on the opponent's hole cards, and the victory is guaranteed. So he didn't hesitate and made a final decision: "105 yuan a share, it's so decided!" That evening, Bao Yugang held a press conference. Announced that in the name of individuals and families, a high price of HK$105 per share was offered to acquire 20 million shares of Wharf shares in cash, increasing its shareholding to 49%! The takeover period is only on Monday and Tuesday, but it does not buy Wharf shares held by Jardine Matheson and Land. At the same time, he also placed large advertisements in major newspapers announcing the beginning of this magnificent anti-takeover operation.
The Jardine Matheson Consortium failed to make Pao Yugang dizzy, but greatly damaged their own vitality, and in the end, they had to accept the reality and give up Wharf.
This is the biggest takeover war in Hong Kong's history, and it is also a typical "blitzkrieg". From the official start to the end of the acquisition, it only took more than an hour for Pao Yugang to obtain 49% of the equity of Wharf, becoming the first Chinese chairman of Wharf. This battle can really be described as overwhelming, clean and neat, and the Jardine Matheson and Hongkong Land Company have no power to fight back, and it also shows Pao Yugang's shocking combat effectiveness and extraordinary courage. This battle caused a sensation in the entire Xiangjiang, dealt a severe blow to the arrogance of the British-funded consortium, and greatly boosted the morale of the Chinese.
For Pao Yugang, the Battle of Wharf was the first major battle of his entire landing operation, and it was a must-win. If the acquisition fails, not only will the assets be lost, but it will also be a huge blow to your landing plan. If victorious, it would have captured the first bridgehead for his entire landing operation, laying a solid foundation for the transfer of his maritime assets to land, and the key to whether he could escape the Great Depression in the shipping industry. After this battle, Bao Yugang's reputation was shocked, and his meticulous planning and heroic bidding are still talked about by people today, and his decisive and resolute and victorious royal style has given people an indelible impression and established a strong prestige. A few years later, in his acquisition of Wheelock, the power of this prestige could still be seen. In February 1985, Pao Yugang won a controlling stake in the British-owned group Wheelock for S$500 million, becoming the second Hong Kong person to win the British-owned four major foreign companies after Li Ka-shing joined Hutchison Whampoa.