Chapter 780 The target is Wheelock u0026 Company, the third foreign trade company in Hong Kong!

February 7, 1983.

The twenty-fifth day of the twelfth lunar month.

New Year's Eve is just a few days away.

At this time, the Spring Festival is approaching.

Since January 3, during working days, Xiangjiang has been conducting a trial on the fraud case of Jianing Group and Chen Songqing.

There were too many debts, witnesses, and physical evidence involved. During the trial, Chen Songqing always denied that the fraud crimes had nothing to do with him, or directly blamed the crimes on his subordinates or other people.

As a result, the citizens of Xiangjiang seemed to have become a crowd for more than a month. Many people were paying attention to Chen Songqing's news, while Yang Ming set his sights on another matter.

The third largest foreign bank in Hong Kong.

Wheelock Bank.

In 1979, Yang Ming began to make plans to swallow up Wheelock \u0026 Company.

However, before that, there was no chance.

At this time, Yang Ming felt that the time had come and had even become mature.

Yang Ming just went to see Teresa Teng.

At this time, entering February, it was already the fourth month of pregnancy, and Teresa Teng's belly began to become a little obvious.

Yang Ming was still very happy when he thought that he would be a father in five months.

Yang Ming stood at the window and looked out the window.

"Master, Mr. Merrith is here."

"Ask him to come up."

When Melis was off work, he received a call from his boss.

When Merith came up, he saw his boss looking out the window and wondering what he was thinking.

"Boss, I'm here."

"Mailisi, let me tell you two things, both of which are very important."

"Boss, tell me."

"First, my woman is more than four months pregnant."

The boss’s woman is more than four months pregnant?

Melis was really surprised.

Before this, he had always hoped that his boss could have children, so he was naturally worried that something would happen to his boss and that there would be no suitable heir to inherit this huge empire group.

Now the boss's woman is actually more than five months pregnant.

"Boss, congratulations!"

Meris was very happy when he heard the news. He was really happy for his boss from the bottom of his heart.

"Except for you, no one among these senior executives knows yet. I don't want to say it out yet. I will say it out when the time is right after the child is born."

Merith nodded.

If you are the boss's child, then the future is destined to be difficult. If you can be a suitable heir, the future will be even more complicated.

"Boss, I wonder if Miss Sarah or Miss Diana is pregnant?"

Yang Ming shook his head.

"None of them."

Since it wasn't them, Meris didn't ask any more questions.

"The second thing is about Wheelock \u0026 Company, the third largest foreign company in Hong Kong. Now it is time to swallow up this foreign company. The time is ripe."

The third largest foreign bank in Hong Kong?

Yang Ming has already swallowed up Hutchison Whampoa and Jardine Land.

These two major foreign companies are respectively the second largest and the largest foreign company in Xiangjiang, and the remaining ones are Wheelock \u0026 Co. and Swire \u0026 Co.

However, as for Swire \u0026 Co., the Swire family has concentrated its shares and even cross-controlled it. It is basically impossible for the Imperial Group to swallow up Swire \u0026 Co.

On the contrary, Wheelock \u0026 Company was different.

At the beginning, Yang Ming integrated his shipping groups and established Xiangjiang First Shipping Group. His real goal was to target Wheelock \u0026 Company.

It seems that after four years of preparation, the time has finally arrived.

In January 1972, Wheelock's board of directors announced that 32.175 million issued ordinary shares would be converted into A shares, and every two A shares would be converted into one B share. The par value of each B share would be one-tenth of the A share. , but have the same voting rights as A shares.

In July 1972 and June 1974, Wheelock issued B shares in large quantities twice.

At that time, insiders estimated that Wheelock's main purpose was to regain control of the board of directors.

Although the issuance of B shares is not a very aboveboard matter, it does play a great role in safeguarding control.

This also became the main reason why no one took Wheelock's idea when acquisition wars were raging from the late 1970s to the early 1980s.

However, the "B-share fortress" is not impenetrable.

As long as any outside consortium acquires enough equity, it can propose to convene a special shareholders' meeting. By canceling the privileges of B shares, control will immediately fall into the hands of investors holding a large number of A shares.

Historically, Wheelock's board of directors naturally understood this truth. Therefore, after discovering that Jardine Matheson still held a large number of Wheelock A shares, it took measures to protect itself.

Wheelock's main approach is to change the status of its listed company conglomerate from a subsidiary to an associated company. The specific measure is to reduce its shareholding in the conglomerate from the original 50.7% to less than 50%.

Because according to Hong Kong company laws, subsidiaries are not allowed to hold shares of the parent company unless they have held them before becoming a subsidiary.

Once the conglomerate converts from a subsidiary of Wheelock to an associate, it can hold shares of Wheelock stock.

That year, the conglomerate injected two more cargo ships into its subsidiary Baofu Development, sold its Lane Crawford shares to a fellow real estate trust, and raised funds to continue to absorb Wheelock shares.

By the end of 1981, the holdings of Wheelock stock had increased to 10.99%.

At that time, people in the securities industry analyzed that Wheelock's board of directors seemed to intend to cultivate the joint venture to become a major shareholder of Wheelock Company in order to assist the board of directors of Wheelock in protecting its control.

However, the battle between Jardine Matheson and Wheelock never broke out. At that time, Jardine Matheson’s real estate was also coveted by Chinese tycoons. Later, it fell into financial difficulties due to serious mistakes in investment strategies. With too much to take care of, it was natural that Acquisition cannot be initiated.

Historically, Wheelock has indeed played a great role in safeguarding control by issuing A shares and B shares. Under normal circumstances, it is difficult for other consortiums to break through.

It is precisely because of that that although Yang Ming has long been interested in Wheelock \u0026 Company, he has never had the opportunity to do so. Just like the Jardine Matheson and Company of the Joseph family in history, they wanted to acquire Wheelock \u0026 Company, but there was no way to do so. .

However, there is a saying.

Fortresses were often breached from within.

If the Chang family, the largest shareholder of Wheelock Bank, and John Horseman, the second largest shareholder, worked closely together and did not have conflicts, other consortiums would not be able to swallow up Wheelock Bank.

Now the fortress of Wheelock \u0026 Company has internal problems.

"Boss, are you saying it's suitable to acquire Wheelock?" Melis asked.

Melis already knew that his boss wanted to acquire Wheelock \u0026 Company, the third largest foreign trade house in Hong Kong.

Now the opportunity has really come.

"As far as I know, the conflict between the Zhang family and John Horseman is getting deeper and deeper at this time. The Zhang family is very likely to sell all shares of Wheelock \u0026 Company."

Melis was really shocked when he heard it.

While everyone else was paying attention to the case of Chen Songqing and Jianing Group, he did not expect that his boss had already noticed the situation of Wheelock \u0026 Company.

Chapter 1!

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