Chapter 388 [Partial acquisition - China-Pakistan merger battle 4]
"You little beast! I'll make trouble, I'll beat you to death today!" Yan Hongwei raised a big stick and waved it at Yan Junnan. Yan Junnan immediately opened his teeth in pain and hurriedly hid behind his mother.
"Dad, I was wrong, I never dared again! Grandpa, I was wrong, save me!" Yan Junnan still looked like a young man there at this time, looking like a heartbroken and cried bitterly.
"Husband, Nan'er is your son, how could you beat him to death? Dad, Nan'er said that he did not act like a shark and was just offended by words. I think he wanted to maliciously acquire the China-Pakistan company, but he just found this reason on purpose." The middle-aged lady stopped Yan Hongwei and asked Yan Chengkun for help.
Yan Chengkun has three sons, all working in a China-Pakistan company. The China-Pakistan company has become the most important asset of the Yan family. At this time, the second and third houses want to beat Yan Junnan, the troublemaker, to death.
The second wife Yan Honglin said fiercely: "If you don't cause trouble, Sha Danyao has reason to maliciously acquire the China-Pakistan company? Now, others not only want to maliciously acquire the China-Pakistan company, but also occupy morality. Hong Kong people will only say that our Yan family has a second-generation ancestor and teases the good women."
Yan Hongyan, the third wife, also said angrily: "If our family has a second-generation ancestor and we have finally worked hard to seize the property for others, do you think our efforts over the years are worth it?"
Hearing his second and third brothers' words, Yan Hongwei was not angry, and stepped forward again and waved the stick violently. Even if it was blocked by the middle-aged lady, she would have several sticks on Yan Junnan, and screams suddenly came.
"Okay, magnificent! Enough!" Yan Chengkun shouted loudly.
Yan Chengkun continued, "What's the use of beating him to death? Will others let us go? Instead of doing this, it's better to think about how to deal with it together."
It turned out that since Yalong revealed his identity, somehow, the rumor about the last conflict has been spread!
Of course, it was not spread by Wu Guangyao on his own initiative, because Wu Guangyao felt it was unnecessary.
.........
In August, Yalong, as the second largest shareholder, continued to propose suggestions to the China-Pakistan board of directors to improve China-Pakistan management and efficiency. As expected, the China-Pakistan board of directors controlled by the Yan family refused to adopt it.
At the same time, Yalong's request to join the board of directors was also rejected, even if it was a shareholder who held 27% of China-Pakistan shares.
This move obviously won the sympathy and support of citizens and the Hong Kong Island Government. Sure enough, when Yalong began to contact relevant senior officials of the Hong Kong Island Government, he obtained a guarantee - he had no intention of objecting to the change of control of China and Pakistan.
Obviously, Yalong's strategy has been successful, and the conditions for acquiring China-Pakistan are ripe, so it is time to launch a final counterattack against China-Pakistan.
On the afternoon of August 20, Global Group held a high-level meeting to plan the final preparations for the China-Pakistan M&A war.
During this period, many reporters received rumors and called to verify, which was confirmed by Everbright Securities - Global Freight is holding a high-level meeting, and the content is related to the acquisition of China-Pakistan, and the specific content will be announced later.
The meeting ended at 7 o'clock that night. Global Freight immediately issued a notice through radio station: Global Freight will acquire 17.4 million shares of China-Pakistan shares at HK$1.3 per share through its wholly-owned subsidiary Yalong, accounting for approximately 29% of the total issued shares, involving HK$22.62 million.
At the same time, Global Freight said it already owns 27% of China-Pakistan shares, and after the acquisition is completed, Global Freight will hold 56% of China-Pakistan shares.
This acquisition can be said to have set a precedent for the "partial acquisition" of Hong Kong Island.
The next day, Global Shipping explained in the newspapers: The reason why it did not propose a comprehensive acquisition proposal to China-Pakistan is that according to the provisions of the Public Bus Service Regulations, China-Pakistan must maintain a public listing in order to obtain the operating patent; therefore, the acquisition proposal only proposes to acquire shares that are sufficient to allow Global Freight to acquire control of China-Pakistan.
For a time, Hong Kong financial figures were in an uproar, and some reporters went to the Hong Kong Securities Regulatory Commission to verify whether Global Freight's move was legal.
In response, Hong Kong Island Securities Regulatory Commissioner and Chairman of the Acquisition and Merger Committee, Maien clearly stated:
According to Article 10 of the current acquisition and merger code in Hong Kong Island, that is, ‘If the proposer intends to acquire any securities of a company, any statement made must clearly state that the proposal remains subject to approval by the Commission’;
Meyen said that although Global Freight’s acquisition proposal is to lead to a transfer of control, it also exceeds the definition of the 49% control (full acquisition point) division point to be executed;
However, according to the patent management laws, if a public relations institution is a listed company, approximately 25% of the shares must be held by the public to avoid becoming a private institution;
Therefore, the Acquisition and Mergers Committee approved the proposal of Global Freight for a ‘partial acquisition’.
......
In response to Yalong's announcement, the China-Pakistan board of directors applied to suspend China-Pakistan stocks for one day on that morning.
Global Group, Global Pier, Global Freight, Yalong, and Level 4 parent and subsidiary, to put it bluntly, it is Wu Guangyao's thug;
Wu Guangyao's sudden intervention in public transportation is naturally reminiscent of the second generation ancestor of the Yan family teased Sha Danyao's lover. Some people also speculated that the purpose of this acquisition was to covet a large number of high-quality and cheap land reserves from China and Pakistan.
The above two speculations are obviously unfavorable to this acquisition, but fortunately Yalong has made sufficient preparations:
In advance, China and Pakistan have been constantly advised to improve variously as shareholders, and have received unanimous praise;
During the acquisition, the media promised the public that without raising prices, they would purchase a certain proportion of new cars and improve the bus maintenance standards and times; they also promised to improve employee service conditions, working environment, etc. after the acquisition was successful.
Yalong also emphasized that Global Freight has experience in managing bus services, and Global Freight invited the United Kingdom to United Overseas Transport Company to send consultants to provide business assistance to Global Freight after the successful acquisition.
It can be said that the balance of victory has been transferred to Yalong at this time, and the price proposed by Yalong is very attractive.
On that day, the small shareholders who had held China-Pakistan stocks for many years were of course very excited. HK$1.3 per share had appreciated by 52% compared with HK$0.85 before this acquisition.
.............
On the day of the suspension, the China-Pakistan Board of Directors held an economic meeting with financial adviser Baoyuan Investment in Yan's authentic residence.
After the meeting, the China-Pakistan Board of Directors announced three resolutions of the board of directors to the press:
First, all members of the Huang family resigned voluntarily and no longer served as members of the board of directors, which will take effect immediately.
Second, Baoyuan Investment was formally appointed as the financial advisor of China-Pakistan and provided advice to shareholders.
Third, Yalong’s acquisition proposal is absolutely unpopular. Yalong’s acquisition price cannot reflect the actual value of China-Pakistan and is not in line with the interests of China-Pakistan shareholders and the public. The board of directors recommends that other shareholders refuse to be acquired.
The China-Pakistan Board of Directors has always emphasized:
The minibus has an open-air parking lot at No. 5532 and 7178 in North Point, with a total area of 100,000 square feet and a total land value of no less than HK$15 million; the open-air parking lot and repair shop in No. 2585 in Kennedy, with a total area of 80,000 square feet and a total land value of no less than HK$15 million.
The China-Pakistan Board of Directors believes that Yalong's acquisition price is unreasonable (lower), and shareholders are advised not to sell their shares.
When the China-Pakistan board of directors made such a statement, a reporter asked whether the China-Pakistan board of directors would have any suggestions for counter-acquisition.
The conclusion is that there is no!
Yalong directly sarcastically said, since you think the price of China-Pakistan stock is more than HK$1.3 and you also advise shareholders not to sell it, why not take the counter-acquisition?
Isn't this a contradiction?
For a time, wars continued, and both sides issued announcements several times a day, going back and forth.
Obviously, the media in Hong Kong were excited. This was a big battle on securities!
Some media even began to poach the history of both sides and dominate.
Of course, no media dares to poach Wu Guangyao’s personal affairs, at most it is just about poaching Global Group.
The story of the Sing Tao newspaper is that the news media in Hong Kong are afraid of it if they think about it.
Although the Sing Tao newspaper was still the leader of Hu Xian at this time, Hu Xian also had 49% of the shares;
But the old Chinese saying goes well, it is better to be the head of a chicken than the tail of a phoenix. Being acquired is not a good thing!
The most exciting thing is the opening of the China-Pakistan stock market the next day!
Chapter completed!