Chapter 1874

Paul Skinner, chairman of Leto group, is reading the documents in the office. It's almost Christmas. He is required to approve all the applications submitted by the following companies.

Under normal circumstances, the CEO can decide, but who let him still hold the position of CEO and would not like to delegate power.

"Chairman, our stock has been going up these days."

Skinner looked up at his subordinates and said, "isn't that a good thing? Our stock has fallen a lot this year, and now it's picking up. It's normal. "

Many people analyze that the financial market has bottomed out, and it's time to start rebounding. It's normal for their company's stock price to rise. Is there anything strange?

"Chairman, you don't understand. We found that someone bought a lot of shares in our company in the stock market."

Yeah? Someone bought a lot of shares in their Leto company? What's the situation? Does anyone know that they are talking about cooperation with the aluminum company in Huaxia and intend to make a profit?

But the cooperation is still under negotiation, the framework has not been finalized, and it has not been released to the public. There are only a few directors in the company who know about it. Did they disclose the information to others?

This is not very good. If someone suddenly sold off their shares of Leto group in large quantities when negotiating with Huaxia, which led to their share price falling, Huaxia aluminum will pay the same cash and get more shares, so they will lose.

"Do you know who it is? In which country? " The directors of Leto group also come from different countries, such as the UK, Spain, Australia, Canada, the US, etc. if you know which country is buying their shares, you can also help him narrow down the scope of doubt.

"According to our investigation, it may be from Britain and Russia."

Britain and Russia?

Skinner is a bit confused, the UK is good to say, in addition to him there are two directors are British. But there is no director of the company in Russia. There is a vice president. Are these people united?

That's right. When BHP and bito wanted to buy them, they agreed. After the news of the acquisition burst out, those people also cashed in a lot of shares of the company.

Now the stock price of the company has fallen sharply. They eat it again. They can make another profit when they sell it when it is higher. It must be so.

"Go ahead and call the board of directors tomorrow to discuss the year-end affairs."

Skinner turned on the computer and watched the company's stock price go up. Today it's up another two percent.

If there is significant good news, the stock price of the company will rise by 10% normally. However, Mingming's turnover and profits are decreasing this year, and there is no good news. How could the stock price rise by such a large margin, and still rise for several consecutive days?

Although Leto is not as good as vale in terms of iron ore as BHP, it is already the world's first in terms of aluminum industry and the world's leading in terms of copper industry. Why should it be acquired by BHP?

The company is still making money, and there is no loss. Why must it be sold? Even if it's for sale, it will never be sold to such an ambitious man as Bing and bito!

Last year, when BHP and bito wanted to buy Leto, they did not say hello in advance, but directly started to buy a large number of shares of Leto group in the stock market, and the three markets bought at the same time.

This kind of forced acquisition without the permission of the board of directors of Leto company is called hostile acquisition or malicious acquisition in the industry.

In fact, as the CEO of the company, he has no objection to the hostile takeover. Because if we want to complete hostile takeover, we need to buy their company's shares at a premium in the stock market, and the stock price rises, then all shareholders will make profits. The CEO's task is to make all shareholders make profits, which is not a conflict.

But as the chairman of the company, he can't agree with that. Once the other party acquires enough shares, the equity of the other party will be increased. How can the position of chairman of the board of directors be stable?

And after the hostile takeover, even if they agree to convert the shares of Leto group into the shares of BHP, but the other party buys at a premium, then the company's share price will fall back soon.

Small shareholders sell their stocks and take the money away. They usually get stocks, which can't be sold for a short time. They can only watch the stocks fall, and their assets expand and shrink. How can it be?

If you really want to buy, you can, do not use any stock to pay, take cash directly. If you give cash, you don't need to pay a premium of more than 50%, and you pay a premium of 20%, I will be happy to agree.

After the general company is acquired, the management will be reorganized and the business will be reorganized. His position as the chairman of the board of directors will surely be lost.

If you are lucky enough to be a director or CEO, if you are not lucky enough, you can only be an idle shareholder. How can he accept the situation that the power suddenly disappears?

What's more, in the long run, the way that Bing and bito buy is to make eggs out of chickens. Because BHP plans to use leveraged buyouts. At that time, the offer price was over $170 billion, but what they actually put out was just over $10 billion.They take the stock of Leto that they are about to acquire as collateral, and then borrow money from the bank, which is more unacceptable than the general debt acquisition.

But fortunately, at that time, Leto group refused, otherwise, I don't know how much trouble would happen. Because leveraged buyouts are bound to borrow money from banks and other financial institutions, and then those institutions will convert these loans into bonds and issue them.

The final result is that BHP has achieved more than $100 billion with more than $10 billion. Banks and other institutions get the mortgage shares and loan interest of Leto group, then sell these debts as bonds, and find insurance companies or other banking institutions to guarantee them.

Whoever buys this bond will lose in the end. This is the best financial method of Leiman brothers bank at that time, asset securitization, and how many companies also went bankrupt because of this operation.

At the same time, Skinner was browsing through the documents.

Wait, a hostile takeover.

This time, how can we keep up with the way that bito bought their Leto group?

Does it mean that Bing and bito plan to launch a hostile takeover once again? Is there a company whose shareholders have turned to Bhd?

No, we have to find out immediately. The last time we did that, the stock price of Leto fell a lot. If you do this again, you will surely fall more!

……