What do you mean by quitting the business? I'm not a big shot.

Chapter 604 Using Four Ounces to Move a Thousand Pounds

Calculations show that Chung Yee Group will need to spend at least another billion to acquire 50% of the shares. The acquisition, originally planned for 1.5 billion, has seen its cost soar to 3 billion due to Cheung Kong's interference.

Although acquiring a controlling stake in CLP Holdings for 3 billion was still a very good deal, no one would be happy to pay an extra 1 billion and be taken advantage of.

Furthermore, after acquiring more than 50% of the shares on the open market, a full takeover offer will be triggered to protect the interests of minority shareholders.

The acquiring party must purchase the shares from minority shareholders at market price. Of course, minority shareholders can choose not to sell and continue to hold them.

Hutchison Trust, a company under Li Ka-shing's control, found it difficult to stop the acquisition and is waiting for a full takeover offer to sell its 15% stake in one go.

The old man's savings account is overflowing!

If they could get the Chung Yee Group to sell off its real estate and borrow money, they would all get a piece of the pie.

The managers of the "Loyalty Foundation" naturally took precautions against risks and reported their market analysis to the big boss. The big boss did not sit idly by but instead visited the prison in Lai Chi Kok.

Warden Li Zhiming dismissed his two subordinates, put his hands behind his back, and personally took charge of the room.

This meeting involved a member of the preparatory committee, a prominent Chinese businessman, and a head of a long-established trading company family, a Jewish tycoon.

It's not that they're irreconcilable enemies, like fire and water.

They had a deep-seated grudge and differed stances.

Even though a security check had just been conducted on the visitor, he still had to keep a close eye on things personally. Michael Kadoorie's suit was clean and tidy, he wasn't wearing any handcuffs or shackles, and his hair and stubble were neatly trimmed.

Yin Zhaotang sat opposite him, took out a cigar, and offered it to him, saying, "Mr. Mi, are you doing well?"

Kadoorie took the cigar, sniffed it lightly, and said with a satisfied look, "Good stuff. Thanks to you, I have a VIP room. I don't have to share a room with those gangsters."

Yin Zhaotang leaned back in his chair, crossed his legs, lit a cigar, tossed the lighter across to the person opposite him, and said, "I need to discuss a deal with you."

Michael Kadoorie was in his forties, with a small face, large ears, a hooked nose, black curly hair, and finely shaped eyebrows. He wore two Greek-style earrings. In his youth, he must have been the dream father of many Western-worshipping men.

At this moment, he grabbed the lighter, held it in his palm, and said sarcastically, "CLP's shares? Sorry, the share price is still rising, I have no intention of selling them."

Unlike many British nationals transferred to work on Hong Kong Island, and foreigners who had only been in Hong Kong for two or three generations, the Kadoorie family had been rooted in Hong Kong since the late Qing Dynasty. They were truly integrated into Hong Kong culture and even participated in its creation. Many Hong Kong people adhere to the business philosophy of "profit above all else, regardless of family or country," which originated from Jewish people.

Similarly, they are deeply influenced by Chinese culture, not only speaking Cantonese and Mandarin, but also intermarrying with local Hong Kong families. They had already communicated with Cheung Kong Holdings, and if Lao Zhong dared to engage in forced sales, not only would the ICAC take action, but even Chinese business tycoons would commit crimes during the preparatory group meetings.

Whatever he ate, Old Zhong would have to vomit back double. Michael Garridon was completely fearless and extremely arrogant.

Yin Zhaotang sat up straight, tapped the table, and explained with a smile: "Mr. Mi, it's a transaction, it's a mutual agreement. If you don't want to sell, no problem, we'll leave you 40% of CLP's shares. Let's sign a 'Concerted Action Agreement,' and from now on, our two companies will control CLP. You collect the money, and I'll do the work."

"The issue of stock manipulation, let's just wipe the slate clean, how about that?"

Michael Kadoorie looked surprised, not expecting that Yin Zhaotang hadn't come to completely destroy them, but rather to offer a mutually beneficial solution. It's important to understand that the two companies together held 71% of CLP's shares. After signing the "Agreement on Concerted Action," the control of CLP was essentially settled. Shares on the open market would no longer have speculative value and would revert to their intrinsic value. Lao Zhong could then gradually acquire more than 50% of the shares, eventually gaining absolute control. Although this would take several years longer, it would save over a billion dollars. Kadoorie would only lose management control of CLP, still retaining 40% of the shares and continuing to receive dividends.

It's much better than losing China Power.

Michael looked tempted, shook his leg, bit his cigar, and asked, "When can I get out?"

Yin Zhaotang laughed and said, "As long as you sign, the court will be in session next Monday. The judge will find that the police evidence was obtained illegally and the procedure was flawed, so you will win and be released on the spot. Everyone will save face."

Michael lit his cigar with his lighter, took a deep drag, and slowly nodded: "Okay, I'll cooperate with you."

Yin Zhaotang laughed heartily, very happy, and pulled out a chair, saying, "Mr. Mi, we'll have a long time to work together in the future, please take good care of me."

Michael simply said, "When you deliver the documents, please also send a bottle of champagne. I need to celebrate, even if I'm alone."

“No problem,” Yin Zhaotang agreed.

Michael tossed the lighter in his hand: "Here you go."

Seeing Yin Sheng catch the fish steadily and stride away, Li Zhiming breathed a sigh of relief. These two big shots were not people who could be confined by prison bars; Michael was only in jail because Yin Sheng had intervened. Therefore, before leaving, he didn't forget to nod to Michael Kadoorie in farewell.

The collaboration with the Jewish family would not bring Yin Zhaotang any psychological burden. One must know how to be flexible in doing things; being straightforward will only lead one into the opponent's trap.

Since the foreign firms can no longer dominate Hong Kong's economy, it's not a big deal to give foreign capital a breather. Allowing the Kadoorie family to retain 40% of the shares is even beneficial for purchasing technology from abroad and expanding business. The Li family wants him to fight tooth and nail with the Jews, but things just won't go as planned.

That evening, A-Du took the agreement to Lai Chi Kok, where Michael Kadoorie readily signed it.

Three days later, the court hearing took place. To the public's surprise, after reviewing the procedures, the judge declared the evidence invalid and the charges unfounded.

Michael Kadoorie was released that day and acquitted.

The financial markets were stunned, with many eagerly anticipating a takeover attempt by the Kadoorie family to drive up the price of stock 0002. However, the subsequently released "Agreement on Concerted Action" caused many speculators to lament, and the stock price of 0002 plummeted, losing market traction.

Seeing how the Chung Yee Group had achieved great results with minimal effort, Li Jiacheng began to value Yin Zhaotang's business acumen even more, and instructed Hutchison Trust to gradually release CLP shares.

Old Chung's takeover of CLP is a fait accompli, and under the prevailing trend, there is no way to stop it. CLP is just one piece in Cheung Kong's business empire, and it's impossible to devote everything to it. So, it's better to release some shares and take profits while they're ahead.

If Chung Yee Group dares to compete with Cheung Kong Holdings in business, there will be many more areas for them to clash in the future. If Chung Yee Group is willing to avoid Cheung Kong Holdings' business, then they are being quite sensible.

All told, the entire Chung Yee Group only has tens of billions in funds, which is like an adult and a child compared to Cheung Kong Holdings, which has nearly 100 billion in funds.

As long as Cheung Kong Holdings steadily develops its business and avoids major mistakes, it will eventually be able to overtake Lao Chung by virtue of its scale.

(End of this chapter)