Abel's spokesperson announced the takeover offer for Amex after it was announced.

Abel's acquisition of Amex has officially evolved into a hostile takeover!

Black Knight!

Barbarians outside the door!

Kenneth Chernot privately convened an internal meeting in support of him, which disappointed him.

But Abel has already made his attitude clear.

In addition to the five major institutions that have made peace with Abel.

It is impossible for other shareholders not to react.

For their own vital interests, in order to maximize interests.

A real shareholder meeting was held on November 8.

The vast majority of shareholders holding more than 0.1% of the shares sent people or representatives to participate.

Even if they didn't send a representative, Amex was prepared for them to make a conference call.

That is, in the mode of telephone, from a distance, to join the meeting.

Those five institutions also participated in the shareholders' meeting.

Their verbal agreement with Abel was nothing more than a verbal agreement.

If you really want to implement it, everything is just a bubble before you see the benefits.

At the site of the shareholders' meeting, all members of the current board of directors of the entire Yuntong company participated, and the senior management has gathered.

Kenneth Chernot knew this was his last chance.

Mr. CEO worked hard, "Ladies and gentlemen, I hope that all shareholders will be able to keep their senses. Even if you want to sell the stock, the $25 purchase price is not the final price, and believe me, our stock price has reached a maximum of $160. ”

Manhattan, New York City.

35th floor, Building 2, World Financial Center.

This is the headquarters of Amex in New York.

In the huge conference room, more than 100 board members, shareholders and shareholder representatives gathered.

Kenneth Chernot spoke eagerly:

"Dear valued shareholders, although accepting Abel Smith's "hostile takeover" may be profitable in the short term, it is contrary to the long-term development of the company. ”

"After the low tide of the previous few years, Yuntong Company has done a lot of foreshadowing. Our global economic operations have built a series of human capital, high-level customer service networks, debt relationships, etc., which are closely related to strategic stability. If these arrangements are interrupted by short-term profit motives, they will inevitably affect the overall development efficiency. ”

"And our overseas business has always been profitable. The funds we store overseas can fully cover the losses in China. Just to avoid being robbed by the tax bureau, this part of the funds has never been returned. ”

"Our better future lies ahead. The Board of Directors and the company's senior management are confident that they can create significant added value for shareholders in the future and meet the next stage of profitable growth together! ”

Kenneth Chernot painstakingly persuaded the major shareholders.

He had to.

Abel launched the general tender offer on Nov. 6, when Kenneth happened to be in Seattle.

He rushed back to New York to have a private meeting with the shareholders who had supported him.

But Kenneth was released and he knew the seriousness of the matter.

On the same day, in the name of the CEO, with the support of the Board of Directors, he initiated the general meeting of shareholders.

This time, the shareholders could not refuse, because not participating would be considered a waiver of their voting rights.

This shareholders' meeting, except for Abel, who initiated the general tender offer, could not participate due to the relevant acquisition laws.

The other shareholders came, and the failure to show up meant that they voluntarily gave up their voting rights.

The problem was to convene this shareholder meeting, and Kenneth spent two days.

In two days, a lot of changes have taken place in the market.

In the past two days, a number of holding institutions have begun to sell their Yuntong shares.

And these sold stocks are like being thrown into a cosmic black hole, and they are ignored as soon as they appear.

This black hole may be the acquisition team of Abel Smith, who has a huge amount of cash in his hands.

It may also be ordinary investors who want to fish in troubled waters, or those investment institutions who want to get some meat to eat.

When this happens, many people will be tempted.

Because at this time, the stock of Amex has become the most sought-after stock in the United States.

Yesterday it had risen to $25 a share, and now it is $28 a share after the market opens today.

Although Abel Smith, for his part, has not yet raised his general offer price.

But the market as a whole thinks it's only a matter of time.

At this time, of course, it is better to grab more stocks.

In the face of the eager Kenneth Chernot, Jim Walton, who holds 1.5% of the shares, spoke.

"Kenneth, what's your plan of action?"

This Jim Walton is one of the sons of Sam Walton, the founder of that Walmart supermarket.

After Wal-Mart went public, the Walton family had lost most of the control of the Wal-Mart group.

But this has brought them a lot of wealth, and Sam Walton's children are all billionaires, all of whom are in the top 20 of the Forbes American list.

Before Abel appeared, their brothers and sisters combined, if they entered this list in the name of the Walton family, they were even the undoubtedly richest family in the world.

Once they had money, the Waltons, like other wealthy families, made additional investments.

As a high-quality Dow Jones Industrial Index stock, Amex is one of the main areas of investment for Jim Walton.

Jim Walton has always been one of Kenneth Chernot's supporters.

Seeing Jim Walton speak, Kenneth hurriedly said:

"According to the rules of the U.S. capital market, I think we can launch a 'poison pill plan' to fight back. A large number of new shares are issued in a targeted manner to dilute the proportion of shares held by the other party, thereby increasing the cost of capital and the final income required for the acquisition! ”

As soon as Kenneth Chernot's words fell, there was a chorus of skepticism and rejection.

"It's not going to work." Jim Walton was the first to question.

"Once the poison pill counterattack is activated, the rating of Yuntong will be downgraded, the stock price will plummet, and we will not bear this kind of loss!"

"I'm against it!"

"I'm against this plan!"

"Kenneth, be calm. This kind of solution is not good for anyone! ”

All of the major shareholders, or their representatives, as well as those who participated in the meeting via teleconference, categorically rejected Kenneth Chernot's idea.

Kenneth knew that the most effective means of fighting back would be completely abolished by the shareholders.

Benefit!

Sure enough, in the eyes of these investors.

Their respective interests are the most important thing, and they don't care who helps them run the company.

Moreover, these people don't have much respect for themselves as CEOs.

Listen to the backlash from the shareholders.

Kenneth Chernot and the board members, after making eye contact with each other, both saw deep concern in each other's eyes.

It's over.

It's going to be used as a scapegoat.

"Kenneth, you'd better talk about the other options. I'm sure you have a better way to fight back, and if it's feasible, we'll support you. ”

said the shareholder representative of Fisher Asset Management Group.

As soon as these words came out, the originally noisy discussion was also quiet.

The shareholders all looked at Kenneth Chernot in the first seat of the room.

One by one, they are waiting for each other's better plans to see if they can maximize the interests of their shareholders.

One of the most poisonous methods was rejected, and the other management resigned en masse to disrupt the company, and Kenneth Chernot knew that these people would probably not support it.

Anyway, it just can't hurt their interests.

In desperation, Kenneth Chernot had no choice but to say:

"Well, first of all, I'll talk to Abel Smith on the phone, dispute his offer, and pull up the offer."

"Then there are ways to raise funds, plan share buybacks to raise the stock price, and significantly increase the performance target for fiscal 2002, hoping to make Abel Smith retreat."

In order to protect himself from being fired after the acquisition of Amex, Kenneth Chernot can also be said to have used all kinds of tricks.

"I think it's doable, it's a good plan."

"I support. Kenneth let it go, we believe in you. ”

"$25 is absolutely impossible, $30 is underestimated. Of course, $160 is not realistic, I think at least $50, or $45. ”

Some questions raised by shareholders are more realistic——

"Where does the buyback money come from? Mobilizing overseas funds? What about high taxes? ”

There is no excess capital in the local area of the company, and if there is, it will not let the stock price be so low all year round.

To buy back shares, of course, you need money. In cases where the stock price has already been raised, more money is needed.

When the company itself does not have much capital, it either asks the shareholders to inject capital or borrows money.

It's impossible to get shareholders to inject capital, and now that the economy is sluggish, Abel Smith is also a major shareholder.

If shareholders are allowed to inject capital, Abel Smith has the same right to inject capital.

Temporary borrowing is even more impossible, and Abel Smith can't sit on today's boardroom, but it's not so easy for companies to borrow during a general tender offer.

Then there is only one way left, the overseas funds of the American Express company.

Like most multinational corporations, Amex is free to spend most of its overseas money on the grounds that it does not want to pay high taxes in the United States.

The shareholder who just spoke was thinking about letting overseas funds flow back and using them to buy back shares.

However, some shareholders took this opportunity to speak: "Should we consider taking out some overseas cash for dividends?" ”

"What if we don't meet our FY2002 performance targets? Who is responsible? The aftermath of 911 is not over, and the war is still ongoing. Can it really be done? ”

Wuyang's discussion made Kenneth Chernot and the board members look solemn and curse in their hearts.

This group of bastards really thinks about how to maximize their interests.

Kenneth Chernot felt so tired, and he said dryly—

"If you shareholders agree with our counterattack plan, then vote now by a show of hands!"

In any case, make a counterattack plan early to deal with the barbarians smashing the door outside the door.

This is Kenneth Chernot and the executives, the only way out.

Even if you know you can't do it, you have to give it a try now.

You can't just sit back and do nothing.

"I agree!"

"I'm okay with that!"

"You can try!"

In the face of Kenneth Chernot's words, these schemes.

Even the representatives of the five organizations that had privately made peace with Abel voted in favor.

The reason is simple, if Kenneth's actions can drive up the stock price.

Then they can profit from it too. Unless Abercan directly comes up with something that makes them happy, the two ends of the snake and mouse are the regular operations of these financial capitalists.

Before the contract is signed, any promises and verbal agreements are just nonsense.

This is true of the five major institutions that Abel has already talked about, but Abel himself is actually not like this.

Even sometimes even a signed contract can be said to be invalid.

In the end, there is only one thing that this world is all about - that is, profit!

With the full support of shareholders, the board of directors of Amex Corporation, headed by Kenneth Cherott, began to fight back against the acquisition of Abel Smith.

November 9th.

All kinds of financial and financial media in the United States, large and small, as well as some comprehensive and serious media.

The front-page headlines, or sub-headlines, are basically related to Abel Smith's general offer to buy American Express.

For example, the Wall Street Journal claimed that in order to gain the support of major shareholders, Abel Smith promised to repatriate overseas funds and pay cash to shareholders immediately. And in the following year, all the company's profits will be dividends. 】

This was after Abel got the means of the Amex Board of Directors from the agencies at both ends of the five snakes and rats, after they had revealed.

Abel's side fought back.

Since the top management of Yuntong has paid attention to overseas funds, he, a "barbarian", can also fight this idea.

Kenny thought of using the money to buy back shares, which did not do the shareholders much good.

Abel can take out the money directly and share it with everyone.

In the short term, his plan is more fascinating.

The inside story of the Wall Street Journal report was even revealed directly by Abel.

Abel's own media, of course, can't help but end up.

The New York Observer claimed-

[A number of Amex partners said they were optimistic about Abel Smith's acquisition of Amex]

As Abel's newspaper, it certainly stands on the side of the boss and shouts for the boss.

【Affected by the acquisition, the share price of Yuntong continued to rise. ——New York Post

[Acquisition of the mad demon again, Yuntong Bank is in trouble! ] —Los Angeles Times.

[According to reliable sources, yesterday afternoon, Kenneth Chernot called Abel Smith to defend Amex's shareholder value, arguing that Abel Smith's offer was too low compared to the prospects of Amex's operations, and wanted to promise a 'break-up fee' as a guarantee.] 】

[However, Abel Smith does not seem to approve of Kenneth Chernot's proposal, and although he agrees that the purchase price can be appropriately increased, he directly rejects the break-up fee guarantee proposal and has a tough attitude] - The New York Times

【. 】

"Smack~"

Beverly Hills, Los Angeles.

The mansion at 812 North Bedford Road, next to the sun-drenched outdoor pool.

Abel threw the New York Times, which he had just finished, on the table under the parasol.

The U.S. banking and financial media have been made abrupt by him in the past few days, and they have been very lively.

But his own life is as smooth as ever, maintaining a very normal rhythm.

That is, sleep with Anne, go to Santa Barbara to sleep with Ikana's best friend, or go to sleep with a few other women near Beverly Hills.

Like Jessica, Scarlett, Liv.

Then it's time to eat, it's time to play.

Like now, he sits under a parasol and admires the two mermaids, one large and one small, in the pool.

Last year, due to the La Niña climate, it was a little cooler in California in November.

This year, the weather was normal, and the temperature remained around 30 degrees Celsius at noon in November.

This is no longer warm, but a hot batch.

Anne, who doesn't have much work today, plans to swim.

By the way, she taught her the daughter of her personal cook, the niece of her personal bodyguard Jinna, Lulana Korshunova, who just turned fourteen this year.

"That's it, hold it with both hands. Legs straight, yes, flutter up, hands are slowly released, frog, remember to be like a frog! ”

An unprofessional swimming coach who teaches the young Lulana.

They were all dressed in the three-point Abiakiani, and they looked pleasing to the eye, like two mermaids.

As Lulana Korshunova gradually grows.

Abel has already determined that this little girl will also be a big beauty in the future.

He didn't know that this young supermodel in a parallel time and space would be one of the young supermodels in the future.

Just seeing that she is young, she is already tall and long-legged, slender, and beautiful, Abel thinks she can eat with her body-

Don't think crookedly, Abel thinks that she can rely on her good figure and beautiful appearance to eat in the entertainment industry or modeling circle.

Instead of going to the red light district to eat

Just as Abel was admiring the big and small mermaids.

David Jones walked over, and without squinting, handed a document to his boss.

“BOSS。 We got another 1.3% stake. But the rise is too fast. After the board of directors of Amex presented their decision to fight. Now the stock price has exceeded $30. ”

Abel nodded, didn't look at the documents, and asked him directly: "How many shares do we have now?" ”

“32.5%。” David replied, "There are too many people who are reluctant to sell and grab chips. And even crazier than all of us. ”

Abel expressed understanding.

He launched a general tender offer on the 6th, and today is the 9th.

There is no Sunday in between, and it is very normal for the stock price to rise.

Who called Yuntong is very high-quality, and his current position in the financial field is also relatively special.

Abel knew that he could no longer play that kind of trick like he had done in Sampura Energy before.

This is the side effect of being the mainstay of American finance, for the sake of influence and fame, it can no longer be messed around.

Similar to Buffett, Buffett does not dare to play the rat trap openly or short US stocks.

Abel's treatment in this regard is similar to that of Warren.

It is estimated that the financiers on Wall Street and the United States at that time also wanted to put the same invisible shackles on him as Buffett.

When the White House made a big deal about itself, they not only did not oppose it, but they strongly supported it.

It's still too young, and it's a bit of a drag on George.

Abel thought helplessly.

"Tell Allen to raise the general offer price. Increase to $35. ”

Abel spoke: "Just according to our plan, there is no need to be in a hurry. I don't want to be wronged, you know? ”

David Jones smiled, "I understand, BOSS." I'm going to inform Alan. ”

Looking at David's departing figure, Abel shook his head.

Hmph, those institutions and leeks, this time they are sure that they don't dare to play tricks like they did last time on Sampura Energy.

One by one, they are all frantically scrambling to raise the shares of Yuntong Company higher and higher.

One by one, they all want to scrape some minced meat and eat it under the skin of the world's richest man who has never missed.

Who called Abel so rich and the richest man in the world?

Abel is indeed very rich, but he just doesn't want to be the boss of this wrong, spend all this unjust money, and let these guys taste the sweetness on himself.

That's right, because of the invisible shackles. I really can't play the same tricks last time.

Improper means can't be used, but it doesn't mean that serious means can't be used by themselves!

Abel decided to educate these institutions and leeks again this time.

Let them know that even if Abel Smith wears shackles, in the field of finance, even if it is just "dead skin" and "crumbs" on his body.

It's not something they can eat if they want to.

But this is not in a hurry, since the change of method, Abel knows that his acquisition of Yuntong cannot be achieved overnight.

According to his prediction, if it goes well, he will be able to enter the main Yuntong within a month.

As for completely controlling it, or even privatizing it, it will be a project that will take several years.

Thinking of this, Abel let go of his mind from work.

His attention returned to the big and small mermaids in the pool.

By this time, with the help of Anne, young Lulana Korshunova had already begun to try to splash in the water.

A pair of slender white long legs, reflecting a charming brilliance in the sun.

Able stood up, and he walked out into the pool wearing only a pair of swim trunks.

"Haha~ Honey, come on! Look at Lulana, she swims like a little frog, hahaha~"

Anne watched Abel go into the water, smiled and waved at him, pointing at Lulana to "laugh".

Lulana is already familiar with Anne, and although she is basically a little maid, she is no longer afraid of Anne.

Anne is still very easy to get along with.

"I'm not, I'm not a little frog, I." In a hurry, the rookie swimmer immediately drank the water.

Novices tend to be nervous when they drink water when they swim, and nervousness is easy to problem.

Lulana, who could barely swim a few meters, suddenly sank into the water in a panic.

Anne was startled, and she couldn't swim herself. I want to call for help from a female swimming coach who is always ready on the shore.

saw that Abel, who had entered the water, had already swam through the water like a great white shark, and easily scooped up Lulana in a few seconds.

Then put the slender and slender her on her back, and the little girl who was almost rescued by drowning just now also subconsciously hugged Abel who saved her at this time, and hung on him and refused to come down.

"I feel like there's still going to be a shallow area."

Abel felt Lulana's slender and slender body on his back, and said to Anne with a smile: "In this way, we won't drown beginners in the pool." ”

Lulana wasn't as scared of Abel as she had been at the beginning.

During this time, Abel had been living with Anne and seemed to be amiable.

Just now he saved himself again.

Lulana was emboldened and couldn't help protesting:

"I won't be drowned. It was Anne who laughed at me just now, and I was distracted to do this. ”

Anne watched Abel carrying Lulana in the water, and she was a little jealous at first, but she could hear Lulana's girl's voice before she began to develop.

Anne thought to herself, this is still a child, what kind of jealousy do you eat?

She smiled and said, "I'm in favor, what if Lulana gets drowned?" ”

"I won't."

Anne ignored Lulana's whispered protests and snuggled up in the water.

After getting close to her boyfriend, Anne's beautiful eyebrows immediately raised.

She looked at her boyfriend, and her pretty eyes widened.

"She's just a kid! You're actually reacting!! ”

"Well, I said I only reacted when I saw you, do you believe it or not?"

"Do you think I believe it or not? You Paedophilia!! ”