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Published at 25th of December 2023 05:15:00 AM


Chapter 388: [Partial acquisition-China-Pakistan M&A war 4]

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Chapter 388 [Partial Acquisition-China-Pakistan M&A War 4]

"You little beast! To make trouble, I have to kill you today!" Yan Hongwei raised a big stick and waved it at Yan Junnan. Yan Junnan grinned in pain, and quickly hid behind his mother.

"Dad, I was wrong, and I will never dare anymore! Grandpa, I was wrong, save me!" Yan Junnan still looked like a brother-in-law there at this time.

"Husband, Nan'er is your son, how can you go to death! Dad and Nan'er have said that they didn't move a shark to brave a woman, but they just offended him. I think he wanted to maliciously acquire China Pakistan. , I just found this reason deliberately." The middle-aged lady stopped Yan Hongwei and asked Yan Chengkun for help.

Yan Chengkun has three sons, all of whom work at CMB. CMB has become the most important asset of the Yan family. At this time, the two rooms and three rooms can't wait to kill Yan Junnan, the offender.

Erfang Yan Honglin said fiercely: "If you don’t get into trouble, there is a reason for the bravery to maliciously acquire CMB? Now it’s fine. Others will not only maliciously acquire CMB, but also occupy morality and justice. Hong Kong Islanders will only say we are A second-generation ancestor came out of the family and molested the good women."

Sanfang Yan Hongyan also said angrily: "If it is because our family has a second generation ancestor, and the family property that has been hard to work hard has been seized by others, do you think our efforts over the years are still worth it?"

Hearing the words of his second and third brothers, Yan Hongwei didn't get angry. He stepped forward again and waved the stick fiercely. Even if it was blocked by the middle-aged lady, he dropped several sticks on Yan Junnan. Screaming piece by piece.

"Okay, magnificent! Enough!" Yan Chengkun shouted loudly.

Yan Chengkun continued: "What's the use of killing him? Will others let us go? Instead of this, we might as well think about how to deal with it together."

It turned out that after Yaron disclosed his identity, some gossip about the last conflict came out!

Naturally, Wu Guangyao did not take the initiative to spread it, because Wu Guangyao felt it was unnecessary.

In August, Yalong, as the second largest shareholder, constantly proposed to the CMB Board of Directors to improve the management and efficiency of CMB. The results were as expected, and the CMB Board of Directors controlled by the Yan family refused to adopt it.

At the same time, it also refused Yalong’s request to join the board of directors, even if it is a shareholder who holds 27% of China Pakistan’s shares.

This move obviously won the sympathy and support of the citizens and the Hong Kong Island government. Sure enough, when Yaron began to contact the relevant senior officials of the Hong Kong Island government, he was assured that he had no intention of raising objections to the change of control of China and Pakistan.

Obviously, Yaron’s strategy has succeeded, and the conditions for acquiring CMB are ripe, and it is time to launch a final counterattack against CMB.

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   , many reporters received rumors and called to verify, and they were confirmed by Everbright Securities. Global Freight is holding a high-level meeting with the content related to the acquisition of China Pakistan. The specific content will be announced later.

At 7 o’clock that night, the meeting ended, and Global Cargo announced via radio immediately: Global Cargo will acquire 17.4 million shares of China Pakistan at HK$1.3 per share through its wholly-owned subsidiary Yalong, accounting for approximately 29 of the total issued shares. %, involving funds of 22.62 million Hong Kong dollars.

At the same time, Global Cargo said that it already owns 27% of CMB. After the completion of the acquisition, Global Cargo will hold 56% of CMB.

This acquisition can be said to have created a precedent for “partial acquisition” on Hong Kong Island.

The next day, Global Shipping explained in the newspapers that the reason why it did not make a comprehensive acquisition proposal to CMB is that, according to the regulations of the public bus service regulations, CMB must maintain a public listing to obtain the operating patent; therefore, the acquisition proposal Only plans to acquire shares that are sufficient for Global Cargo to obtain control of CMB.

For a time, financial professionals on Hong Kong Island were in an uproar. Some reporters went to the Hong Kong Island Securities Regulatory Commission to verify whether the move by Global Freight was legal.

In this regard, Hong Kong Island Securities Commissioner and Chairman of the Mergers and Acquisitions Committee Myen made it clear:

According to Article 10 of the current Code of Takeovers and Mergers on Hong Kong Island, that is, ‘if the proposer intends to acquire any part of a company’s securities, any statement made must clearly state that the proposal still needs to be approved by the committee’;

Many said that although Global Freight’s acquisition proposal is to result in a transfer of control, it also exceeds the 49% control (full acquisition point) threshold definition that will be implemented;

However, according to the patent management law, if a public relations institution is a listed company, about 25% of the shares must be held by the public to avoid becoming a private institution;

Therefore, the M&A Committee approved the ‘partial acquisition’ proposal of Global Freight.

In response to Yalong’s announcement, the CMB’s board of directors applied to suspend trading of CMB’s stock for one day that morning.

Universal Group, Universal Terminals, Universal Freight, Yalong, four-level parent and subsidiary companies, to put it bluntly is Wu Guangyao's thugs;

Wu Guangyao's sudden involvement in public transportation is naturally reminiscent of the second generation of the Yan family molesting the shark's courageous lover. There are also speculations that the purpose of this acquisition is to covet a large amount of high-quality and cheap land reserves in China and Pakistan.

The above two speculations are obviously unfavorable factors for this acquisition. Fortunately, Yaron has made sufficient preparations:

Continuously suggesting various improvements to CMB as a shareholder in advance, and won unanimous praise;

At the time of the acquisition, they promised to the public in the media that they would purchase a certain percentage of new cars and increase the maintenance standards and frequency of buses without increasing prices; they also promised to improve the service conditions and working environment of employees after the acquisition was successful.

And Yaron emphasized that Global Cargo has experience in managing bus services, and Global Cargo will invite the United Overseas Transport Company of the United Kingdom to dispatch consulting companies to provide business assistance to Global Cargo after the successful acquisition.

It can be said that the balance of victory has shifted to Yaron at this time, and the price proposed by Yaron is very attractive.

On the same day, the minority shareholders who have held CMB stocks for many years were of course very excited. The value of 1.3 Hong Kong dollars per share was 52% higher than the 0.85 Hong Kong dollars before the acquisition.

On the day of trading suspension, the Board of Directors of China and Pakistan held an economic meeting with the financial consultant Baoyuan Investment at the Ganshi Kennedy House.

After the meeting, the China-Brazil Board of Directors announced to the press three resolutions of the board of directors:

First, all members of the Huang family resigned voluntarily and ceased to be members of the board of directors, with immediate effect.

Second, Baoyuan Investment was formally appointed as CMB’s financial adviser and provided advice to shareholders.

Third, the acquisition proposal of Yalong is absolutely unpopular. Yalong’s purchase price does not reflect the actual value of CMB, and it does not conform to the interests of CMB shareholders and the public. The board of directors recommends that other shareholders refuse to be acquired.

The CMB Board of Directors has always emphasized:

CMB owns open-air car parks at No. 5532 and No. 7178 in North Point, with a total area of ​​100,000 square feet and a total land value of not less than 15 million Hong Kong dollars; the open-air car park and repair shop at No. 2585 in Kennedy, with a total area of 80,000 square feet, the total land value is no less than 15 million Hong Kong dollars.

The board of directors of China Pakistan believes that Yalong’s purchase price is unreasonable (low), and shareholders are requested not to sell their shares.

CMB's board of directors expressed such a position, and a reporter asked whether the CMB board of directors had any proposal to reverse the takeover.

concluded that there is no!

Yalon directly sneered, since you think that the price of CMB’s stock is more than 1.3 Hong Kong dollars, and you still advise shareholders not to sell, why not reverse the takeover?

Isn’t this a contradiction!

For a time, there was a lot of war, and the two sides issued announcements several times a day, you come and I meet.

Obviously, the media on Hong Kong Island are excited. This is a war on securities!

Some media have even begun to dig into the history of both sides, and they are domineering.

Of course, no media dared to dig Wu Guangyao’s personal affairs, at best it was only digging into the Global Group.

Sing Tao News Agency’s lesson learned, the news media on Hong Kong Island are scared after thinking about it.

Although Sing Tao News is still under the leadership of Hu Xian at this time, Hu Xian also owns 49% of the shares;

But the old Chinese saying goes well. It is better to be the head of the chicken than the tail of the phoenix. It is not a good thing to be acquired by someone!

The most exciting thing is the opening of CMB stocks the next day!

(End of this chapter)




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