Chapter 1286 Failure!

On March 22, 1990, the day after New World announced the comprehensive acquisition of Yongan Group, the board of directors of Yongan Group issued a statement rejecting New World's acquisition proposal, believing that it seriously underestimated the group's assets and was unpopular; and claimed that it had accepted the acquisition. Shareholders owning more than 50% of the shares were notified that they had no intention of accepting acquisitions from New World.

Guo Zhiren, managing director of Yongan Group, even publicly condemned the Zheng family's hostile takeover. He said: "Z people should be friendly when doing things, and acquisitions should be carried out in a friendly manner. If New World Development hopes to cooperate with Yongan Group, we can discuss and discuss it and pass it. Sudden acquisitions by commercial banks hurt feelings."

In this regard, Zheng Yutong, the chairman of New World, immediately responded: "Before proposing to acquire Yongan Group, we called the Guo family many times, but we never received a reply. When we discovered that the Guo family continued to absorb Yongan Group in the market, , we resolutely proposed the acquisition. Our original intention was not to be hostile, but to proceed in a friendly manner."

While publicly refusing, the Guo family also actively absorbed shares in the market through Yongan Holding Company Yongan Commercial Management Co., Ltd., purchasing 1.061 million shares on March 22; 625,000 shares on March 23; and 625,000 shares on March 26. 395,000 shares; 63,000 shares were purchased on the 28th and 1,294 shares were purchased on the 30th, using approximately HK$34 million in funds and purchasing a total of 2.146 million shares, equivalent to 1.18% of the entire equity of Yongan Group.

Since the board of directors of Yongan Group claims that it has been notified that it will not accept the acquisition of more than 50% of the shares, why is it still buying shares in the stock market?

In this regard, Vice Chairman Guo Zhiheng likened to heightening the wall and installing a ring of barbed wire, and revealed that the Guo family will continue to absorb the market, but will no longer disclose the quantity. According to the securities regulations, if it is purchased by someone other than a director or holding company, it does not need to be reported to the Securities Department and announced to the public.

If the major shareholder of Yongan Group really controls more than 50% of the shares, it will definitely not be possible in the form of public acquisition. Why did New World act so hastily?

According to Zheng Yutong, New World saw from the Yongan Group annual report that the Kuok family’s shareholding is only 43%). Among them, Yongan Commercial Management Company, which represents the family’s interests, holds 41.2% of the shares, and members of the Guo family on the board of directors hold 41.2% of the shares. 2.57% equity).

Therefore, it is estimated that the position of the holders of at least 30% of the shares is undecided, and the public acquisition still has a chance of success.

At that time, the market believed that the key to the Guo family's ability to preserve their ancestral business lay in whether the many descendants of the Guo family could "hold their ground" under the Zheng family's silver bullet offensive.

Judging from past history, there have been frequent incidents of discord or even strife between brothers within the family, and "preferring to be a friend rather than a domestic slave."

Historically, in 1986, Chinese real estate ownership was originally a matter between Feng Bingfen and Li Fushu. Later, Liu Lianxiong came out, and the fisherman benefited.

Therefore, there is no guarantee that Yongan Group will not be a replica of Chinese Real Estate. Obviously, Zheng Yutong also has high hopes for this, hoping to defeat the members of the Guo family one by one and profit from them.

Unfortunately, Zheng Yutong's hopes were dashed this time. At that time, there was a rumor in the market that Guo Wenzao's 6% stake in Yongan had been sold to New World Development, but it was later confirmed to be just a rumor. Although the descendants of the Guo family run Yong'an in a conservative style, they are united in protecting their ancestral business.

The market predicts that the Guo family is determined to defend Yongan and continue to absorb shares in the market. It is estimated that the acquisition opportunities of New World are slim. The share price of Yongan Group gradually fell back to HK$13.7 per share at the end of March.

However, Zheng Yutong did not give up because of the Guo family's determination to defend control. On April 4, New World Development stated that if the acquisition becomes unconditional (that is, more than half of the shareholders support it), it will also acquire Yongan Company, which holds 60% of the equity of Yongan Group and specializes in the department store industry. The entire acquisition plan will therefore be affected. The additional payment of more than 1 billion Hong Kong dollars brings the total amount to 4 billion Hong Kong dollars.

The suggestions put forward by New World clearly indicate that New World still has great determination in this acquisition and believes that there is still room for a turnaround in the matter.

Prior to this, New World also emphasized that the company acquired Yongan Group in the hope of making long-term investment. If it receives 90% of the shares, it will exercise compulsory acquisition and make a comprehensive acquisition proposal to other small shareholders; if it acquires more than 75% of the shares, New World has no intention of reducing its shareholding. New World also stated that it hopes to merge Yongan's business into New World and give up Yongan's listing status.

At this time, New World United Chinese Capital Group and the Guo family were evenly matched.

April 9, 1990.

When Yang Ming returned from Haojiang, the situation had changed.

At this time, the people who are most afraid are the Guo father and son and Li Jiacheng. They purchased the Yongan Group shares from the secondary market at a high price if the Imperial Group intervenes.

So for them, the Yong'an Group's acquisition of the Guo family will fall short.

That night.

Zheng Yutong and his son reached an agreement with Li Jiacheng and others.

Zheng Yutong and his son first went to Bao's mid-level villa in Deep Water Bay to meet Bao Yugang.

At this time, Bao Yugang not only declined a lot, but his condition also became much more serious, and he was basically in a state of recuperation.

Last time, the third son-in-law, Shinichiro Watari, suffered huge losses as a property investor in Dongyang, which made Bao Yugang's condition even worse.

This time, emerging Chinese-owned families like Zheng Yutong attacked the established family Guo Jiafa. From the beginning, Bao Yugang, Wu Guangzhen and others noticed.

However, they knew that with Sir Yang and the Imperial Group in Xiangjiang, it would be impossible for Zheng Yutong and others to succeed without Sir Yang's consent.

At this point, Bao Yugang, Wu Guangzhen and others had already anticipated this.

Now, Zheng Yutong and his son are coming to see him.

Bao Yugang actually didn't want to see Zheng Yutong and others.

Today is different from the past.

If he is still in good health, then he will definitely meet Zheng Yutong and his son.

Due to his physical condition, Bao Yugang knew that after he left this world, the only person the Bao family could rely on was Sir Yang.

"Sir, Mr. Zheng and his son want to see you." Huang Xiuying said from the side.

"Madam, just say that I am not in good health and it is difficult to see them."

In other words, let the lady send them away.

Zheng Yutong and his son were sitting in the living room. After watching Mrs. Bao come out, Zheng Yutong asked hurriedly: "Mrs. Bao, how is Mr. Bao?"

"Mr. Zheng, Young Master Zheng, I'm sorry. Mr. needs rest due to his condition. If you really want to see him, you can come over with me to meet him."

Bao Yugang has not shown his face for a long time.

Zheng Yutong and his son also guessed that Bao Yugang, who had cancer, was getting worse and worse.

In that case, Zheng Yutong and his son would never see Bao Yugang again.

After bidding farewell to Huang Xiuying.

After getting in the car, Zheng Jiachun asked: "Father, does Mr. Bao not want to see us on purpose?"

"I don't think so. Maybe his condition is really serious. I heard that his third son-in-law lost a lot of money investing in properties in Dongyang. Now that Mr. Bao is seriously ill, it's normal that he doesn't want to see us."

"Father, where are we going?"

"To meet Sir Yang, of course."

PS: I started to feel uncomfortable after returning from my hometown. I don’t know whether I was infected with influenza A or Sanyang. Not in very good condition.

Now I can barely finish it and send it out.