章 355: Chapter 355: Response
"Damn nouveau riche!"
"Damn little dwarfs!"
"Damn Americans!"
"They're all full of tricks!"
In the luxurious living room of the Keswick family, old John, Niubijian, and the two brothers, Henry and Charles, sat around the table. The youngest, Charles Keswick, couldn't help but curse, clearly very angry.
Seeing his youngest son lose his composure, old John unusually did not admonish him. At this moment, he also looked grim and extremely troubled.
The reason was that their efforts had largely come to nothing. At most, old John used his connections to acquire 1.1% of the shares from a small shareholder, but at a cost of a 100% premium. Given the urgent situation, old John gritted his teeth and agreed, raising his own shareholding to 38.2%.
However, despite acquiring the 1.1% of shares, the high cost pained him, and it was foreseeable that the impact would be even greater later on.
After all, starting with a 100% premium meant that the price for acquiring other shares would only rise, especially for major shareholders with more stock. The cost would be higher.
And indeed, others had returned empty-handed!
They had just shared their actions and situations, and the results were not optimistic.
Since the Galaxy Fund loudly announced holding 30% of the shares in the E&F Machinery Group, although the accuracy was unknown, it was estimated to be close to the truth.
With this, Galaxy Fund became the second-largest shareholder, just 7-8% short of the Keswick family.
With such a large stake, acquiring it through scattered shares was absolutely impossible. Among the top ten shareholders, there must be accomplices.
So, old John immediately investigated, calling each one. In the end, he found that, besides himself, three of the nine major shareholders had sold their shares to Xia Yu, and the remaining six shareholders had not sold any shares.
However, these six shareholders were all tricky for old John, leaving them with a frustrating experience.
The second-largest shareholder, Cummins Inc., an international company specializing in power equipment, held 6.37%.
The third-largest shareholder, Temasek Holdings of Singapore, a state-owned enterprise disguised as a private company, held 5.24%.
The fourth-largest shareholder, Nomura Securities, currently one of the top ten securities firms in Japan and the leading firm in later years, held 4.99%.
The seventh-largest shareholder, Daiwa Securities of Japan, held 2.76%.
The ninth-largest shareholder, Bank of China Investment in Hong Kong, held 2.54%.
The tenth-largest shareholder, Goldman Sachs Group, held 2.49%.
None of these six major shareholders were simple characters. Cummins Inc., Nomura Securities, and Daiwa Securities all had huge financial backing.
Goldman Sachs was itself a multinational giant, one of the top five investment banks on Wall Street.
Temasek Holdings and Bank of China Investment were even more notable. The former was a state-owned enterprise in disguise, regulated by Singapore's Ministry of Finance, and the latter was the mainland's representative in Hong Kong.
Of these six major shareholders, besides Cummins Inc., which needed E&F Machinery Group's influence in Southeast Asia and Australia for business reasons, the other five held shares for investment purposes. These five were essentially all investment banks.
In theory, the stronger the shareholders of a listed company, the better for the company, as it increases market confidence in it.
And these five major shareholders of E&F Machinery Group were investment giants, providing strong support for the company's stock price.
In peacetime, this would be ideal, and old John would have preferred more strong partners.
But every advantage has its downside.
Let's not forget, capitalists are the most ruthless, prioritizing profit above all.
Moreover, these investment banks, with their profit-driven principles, were even more ruthless. No one's greed was comparable to these investment banks.
When the Galaxy Fund announced its 30% stake and issued a takeover bid for E&F Machinery Group, these five companies immediately prohibited the sale of their E&F shares and joined the scramble to increase their own stakes, trying to push the stock price up as much as possible.
Now, anyone with a brain could see that the Galaxy Fund posed a significant threat to the E&F Consortium, and with its previous series of victories, this battle would be extremely fierce, with the stock price rising rapidly.
These companies repeatedly raised their expectations for E&F Machinery Group's stock price, trying to capitalize on the opportunity for a hefty profit.
The Keswick family's attempt to buy the shares was met with exorbitant demands, scaring them off.
This result could only be attributed to old John's lack of preparation.
Take Xia Yu's side as an example. When Wang Qi acquired shares, he also targeted the weaker shareholders, buying from the three lower-ranked shareholders. The five major shareholders were untouched, and they didn't even inquire, fearing exposure.
After all, each of these five companies was stronger than Jiuding Securities Company, and contacting them might reveal their acquisition intentions, leading to further complications.
"Father, it's difficult for us to acquire shares from these shareholders. The Galaxy Fund and Jiuding Securities will also face challenges. For now, we are still safe."
Henry Keswick, who had been sitting quietly, suddenly spoke.
"That's right, Chairman. With Goldman Sachs and Nomura Securities demanding exorbitant prices, we can't afford it. That Chinese kid should also be struggling."
Niubijian agreed.
Old John silently nodded, agreeing with the two. However, he felt a deep discomfort. He had always been the one in control, but now he had become the one being manipulated, and it was hard to express the feeling.
It was all because of that Chinese kid, who had repeatedly provoked them and caused them immense trouble!
Old John was filled with hatred.
"Continue negotiations with them. Sky-high prices, but we'll pay up when necessary."
"They are all investment companies, and their holdings are for financial investment. As long as the price is right, there's nothing they won't sell. Their high asking prices are just to get a higher price."
"But now, it seems that Nomura Securities and Daiwa Securities, the two smaller players, are the most greedy. Together, they hold 7.75% of the shares. Their backing is strong, so we can only use normal business methods, which is the most difficult and should be left for last."
"Bank of China Investment's 2.54% stake is also difficult. I estimate that if that Chinese kid handles it, it might be easier to obtain. Continue sending people to negotiate. If we can't get it, at least drive up the price to deplete his funds."
"Goldman Sachs and their group of Jews are no less than the little dwarfs. It will be very difficult to take them down. Keep negotiating."
"The remaining Temasek and Cummins, with a combined 11.61% stake, if acquired, would bring us close to the 50% line and eliminate the crisis. Focus on these two shareholders."
Old John analyzed, and Niubijian and Henry nodded in agreement.
"Niubijian, you handle Cummins and try to acquire their shares."
"Yes, Chairman!"
Niubijian accepted the order solemnly.
Old John nodded slightly, his sharp gaze moving left and pausing on Charles for a second before settling on Henry.
"Henry, contact Temasek Holdings on behalf of the family and request a call with the Singaporean government in my name."
"Understood!"
Henry Keswick said solemnly.
Although Singapore now had the aura of one of the Asian Tigers, it had only recently gained independence and was still heavily reliant on British and American support. The Singaporean government's dependency on the UK was significant.
As the leading British-funded consortium in the Far East, old John, as the head of the consortium, was not inferior to the current Singaporean Prime Minister Li Yao (name obscured, but understood) in terms of status and was absolutely qualified to request a call with Li Yao, who would certainly agree.
However, this would be somewhat embarrassing and would owe Li Yao a favor.
But to quickly acquire the 5.24% stake held by Temasek Holdings, old John didn't care about such matters. Preserving E&F Machinery Group and stabilizing the situation was more important!
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