章節 1384: Chapter 1384: Whoever cares, loses!
There are five financial companies in the Cleveland Consortium's sphere of influence.
They are the Cleveland Trust Company, Cleveland (USA) National City Bank, Koka International Group, American Financial Insurance Company, and Wusan Bank Corporation.
There are two commercial banks, a trust bank, an investment bank-type financial company and an insurance company.
However, of these five financial companies, only Cleveland Trust Company and Cleveland National City Bank have been owned for a long time, both of which started in Cleveland. Now their branches have spread all over Ohio and some surrounding large states, and they are considered to be large regional banks.
The three companies, Koke International Group, American Financial Insurance Company and Wusan Bank Company, were all brought in by the Cleveland Consortium to enhance its strength.
The headquarters of these three financial companies are all within the state of Ohio, either in Cleveland or the capital city of Cincinnati.
Although the shareholding situation of these three financial companies at the level of the entire consortium is complicated, it has not reached the level of relative control.
The combined shareholding of the four families, the Mathers, Hannas, Humphreys and Etones, in these three financial companies is even lower.
It wasn't that the four families didn't want to develop these companies into the core companies of the consortium immediately, but they wanted to achieve their goal by taking small steps.
One reason was to avoid fierce opposition from other shareholders, and the other was to save costs.
...
'Douglas, I suggest an immediate full retreat to defend against Wells Fargo's attack!'
'I agree. I didn't expect Wells Fargo to resolve the crisis so easily and decisively take revenge on us!'
'...
Less than twenty minutes after the Wells Fargo press conference, Douglas Master and Reginald Hanna were joined by three others.
This time, they looked even worse than before, each in a foul mood.
At least before, they had only failed to attack the Mellon consortium, and their targets had all been taken, so at least they had not lost anything.
But now the war had come directly to them, and Wells Fargo had directly targeted the moneybags of the Cleveland consortium.
If the moneybags are captured or infiltrated, the power of the four families over the consortium will definitely plummet.
By then, the shareholders of various other companies will take advantage of the situation, and that will be the end!
'There's no other way!'
'I've just thought about it carefully. All of our four families' funds will be used to increase our stakes in several major financial companies. It is only predictable that even if we can acquire the stakes, the purchase price will be very high.'
'In addition to our private funding, I suggest that companies such as the Cleveland Trust Company and Cleveland National City Bank mobilise funds to acquire each other's shares. As long as we maintain our current control over these companies, then all companies can be stabilised at the same time.'
Douglas Master said his thoughts with a heavy face.
The other few people looked at each other and did not immediately express their opinions, but thought quietly.
After a while, Kenneth Humphrey suddenly raised a difficult question that everyone was thinking: 'At the press conference, Alman Simmons said that he would launch a takeover bid for companies such as Cleveland Trust and Cleveland National City Bank. So apart from these two companies, which other companies does he plan to launch a takeover bid for?'
'Is it a takeover bid for all five financial companies under our control?'
'Or is it a combination of real and fake, and he only plans to launch a takeover bid for one or more of them?'
'Or, is it that you don't intend to acquire any of them, but just want to profit from a hostile takeover?'
The other three people were annoyed by this barrage of questions.
If they really wanted to know the answers to these questions, they would have to ask Järman Simons.
'We have no choice, unless we can just not care!'
'Or I think that Wells Fargo has actually made several plans. Maybe they will acquire whichever company we let go. If we all five companies are saved, then they will just profit and leave...'
Sam Eaton shrugged helplessly and sighed, saying:
'If I were Jarmain Simmons, I would do the same.'
'No matter what the outcome, we have actually lost...'
Douglas Mathers accepted Sam Eaton's analysis, smiled self-deprecatingly, and a sudden regret arose in his heart, and this negative emotion was still expanding at an alarming rate.
This Wells Fargo of the Polaris Consortium is really a lion. If I had known, I would not have provoked it. It's better to be led by the nose now than to be bullied before.
'Forget it, let's protect all five companies.'
'Whoever cares loses, so we lost from the beginning.'
'If our control over these banks and financial companies can reach the level of Polaris Capital's control over Wells Fargo, we can also not worry about our enemies attacking us in this area, hehe~'
Kenneth Humphrey looked at Douglas Master and said these words to make him feel better.
After all, it was Douglas Master who proposed to go after Wells Fargo.
'Let's do it then. Let's discuss how to act as quickly as possible...'
...
The Polaris Consortium was able to completely implement Xia Yu's will, and its execution power was naturally extremely high.
In fact, after Xia Yu called Peter Lynch last night,
Peter Lynch had gathered people to study and deploy operations overnight.
By the time Yalman Simmons held a press conference in the morning, the Polaris Consortium had already started.
Not only did they target the five financial companies controlled by the Cleveland Consortium, but also other companies, which also became the Polaris Consortium's targets.
This time, Xia Yu's goal was very simple.
The Cleveland Consortium must be dealt a severe blow.
The Polaris Consortium ranked tenth in the United States in terms of strength, which was a bit behind!
It was impossible to dismember the Cleveland Consortium like the Chicago Consortium.
But as long as the Cleveland Consortium was in a state of decline, other consortia would definitely not miss the opportunity to take advantage of the situation.
The strength of the Cleveland Consortium was inherently weaker than that of the Mellon Consortium. If the Mellon Consortium, with one family at its core, could be besieged, what more could be said about the Cleveland Consortium, which had even weaker core cohesion?
That afternoon.
news came out that the Wells Fargo acquisition team had already been in contact with the shareholders of the American Financial Insurance Group.
Needless to say, the stock market was also affected, with the share prices of all five companies rising, and trading volumes continuing to rise.
Just as the attention of the various big shots was drawn to these five companies.
the Polaris Consortium launched an attack on some of the other companies under the Cleveland Consortium that it did not have sufficient control over.
The target of GEICO Insurance was none other than Nationwide Mutual Insurance Company.
This financial company, founded in 1925 in Columbus, Ohio, did not originally belong to the Cleveland Consortium, but is now just a target of the Cleveland Consortium.
GEICO Insurance, backed by the Polaris Consortium, has become the fifth largest auto insurance group in the United States.
Nationwide Mutual Insurance, meanwhile, is currently the eighth largest auto insurance service provider in the United States, and also the ninth largest home insurance service provider.
Nationwide Mutual Insurance Company is based in Ohio and has also used the resources of the Cleveland Consortium to expand its business nationwide. In exchange, the Cleveland Consortium has successfully infiltrated the company.
Currently, some companies within the Cleveland Consortium collectively hold a 20.4% stake in Nationwide Mutual Insurance Company.
With this stake, the Cleveland Consortium has a lot of influence in the company, but it is still no match for the combined power of the other shareholders.
This gave GEICO Insurance the opportunity to strike!
Meanwhile,
Xia Yu's Jiuding Securities Company's New York branch was also on the New York Stock Exchange, and began buying up shares of Cleveland Natural Resources.
While Xia Yu was causing trouble for the Cleveland Consortium, the Mellon family's defensive actions encountered serious obstacles.
It wasn't just any small player that was putting pressure on Leonard Mellon, but the Rockefeller Consortium.
So much so that Leonard Mellon had to ask Xia Yu for help.
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