Chapter 262 The Battle for Sina (Part 2)
Duan Yongji was shocked and asked hurriedly: "Xu Liang? Xu Liang from Hongmeng Company?"
Not just him, Wang Yan and others I also noticed something was wrong.
11.7% plus the 8.7% originally held by Hongmeng means that Xu Liang has mastered 20.4% of Xinlang's equity, which is not a small amount.
Moreover, no one knows whether this is their end.
"I suggest that the poison pill plan be implemented immediately." Duan Yongji said immediately.
It is impossible for Damo to master Xinlang, but Hongmeng can.
At this moment, a rapid knock on the door suddenly sounded.
“Come in.”
Jiang Fengnian said.
The door was pushed open, and the female secretary who came in quickly said after coughing a few times due to the second-hand smoke.
"Mr. Duan, Mr. Mao, we have just received a notice from Hongyan Fund that they are going to hold an extraordinary general meeting of shareholders in Xinlang."
Everyone's expressions suddenly changed, and everyone felt a wave of excitement. The storm is about to come, and the building is full of depression.
They are all smart people. They instantly realized that Damo’s acquisition and Hongyan’s secret plan were so cleverly combined that they were afraid of cooperation between the two parties.
Duan Yongji stood up abruptly.
"Everyone, the 'poison pill plan must be implemented immediately.'"
But this time, no one agreed with him.
The implementation of the poison pill plan involves major changes in Xinlang's equity, which must be reported to the SEC, which is the U.S. Securities and Exchange Commission.
It takes time to come and go.
The key is that Morgan Stanley's connections can easily allow the SEC to reject Sina's request.
Duan Yongji took a deep breath.
“Everyone, the reason why we are sitting here is all because of Sina. If we watch it being acquired by Hongmeng, Xu Liang will never allow us to be here.
Because of us We are not of the same mind as him.
So, for the sake of our respective positions, we must put aside our disputes and unite to deal with foreign enemies."
Although he spoke with emotion and sincerity, But it's hard to impress the old fritters here.
However, Mao Daolin still stood up.
"I'll contact the SEC."
"I'll contact the media and try to stop this acquisition as much as possible." Wu Zhengdao.
Jiang Fengnian and Wang Yan saw this and spoke one after another.
Duan Yongji saw this and nodded with satisfaction.
"If we all work together, we will definitely be able to repel Xu Liang and Hongmeng's attack."
Having said that, the atmosphere in the conference room was not relaxed at all.
Everyone understands that unless they can use administrative intervention in this acquisition, it will be impossible to stop Hongmeng's invasion.
——
The morning of October 8th.
A piece of news suddenly appeared on the homepage of Xinlang.com.
"Xinlang is preparing to implement the 'Poison Pill Plan'. Hongmeng's ambition to acquire Xinlang will never succeed."
As soon as the news came out, everyone was shocked.
Isn’t Morgan Stanley acquiring Xinlang’s equity? Why is Hongmeng Company involved again?
Media from all walks of life gathered at the Ideal Building and Wangjing Building, trying to get first-hand information.
Hongmeng remained tight-lipped and did not say much to the media.
On the contrary, Duan Yongji was interviewed at the Xinlang headquarters, responding directly to many speculations from the outside world, and also expressing Xinlang's tough attitude.
“Currently Hongmeng and its affiliated company Xiangjiang Hongyan Fund hold a total of 20.4% of Sina’s equity, which has seriously threatened Xinlang’s normal operations, and we will launch a counterattack.”
“Hongmeng The conspiracy to acquire Xinlang will never succeed."
"I, Duan Yongji, will never let Xinlang fall into the hands of outsiders."
Duan Yongji is confident in front of the camera, but only he knows how unfavorable the situation is for him.
As soon as I came back from the press conference, my secretary hurriedly came up to me.
"Mr. Duan, we have just received a letter from Hongmeng and Hongyan Fund. They have once again increased their stake in Xinlang by 4.3%, and the current total shareholding is 24.7%."
Duan Yongjixin He instantly sank down and squeezed the document in his hand so tightly that his veins were exposed.
——
Soft music echoed in the dining room.
Wang Zhidong looked at everything familiar around him with emotion.
“If I could have listened to your opinion earlier, maybe I wouldn’t be in the situation I am in now.”
Xu Liang smiled and shook the wine glass in his hand, “This point I believe that Mr. Wang is one of the few people I admire.”
Having said that, even if Wang Zhidong reacted early, he would not be able to change the overall situation with his only 6% equity.
Of course, now that he has something to ask for, there is no need to offend anyone.
The smile on Wang Zhidong's face, "I am deeply honored to hear the richest man say this."
"I speak from the bottom of my heart." Xu Liang seemed very sincere.
Wang Zhidong was happy, but not confused yet, "Mr. Xu is asking me now, not just to talk about this?"
"Mr. Wang is indeed smart. Then I will tell you straight. ." Xu Liang put down the wine glass in his hand and looked at the man opposite him calmly, "I want to buy Xinlang."
Wang Zhidong's face changed slightly, and he secretly said, "Sure enough."
He has heard and seen the rumors these days, and he also understands Duan Yongji's violent reaction.
If Xu Liang hadn't forced him into a corner, this old silver coin would never have ended up in person.
“I am no longer the CEO of Xinlang.” Wang Zhidong said calmly.
Xu Liang smiled slightly, "Actually, Mr. Wang can definitely go back."
Wang Zhidong's eyes lit up instantly.
"Mr. Xu means...let me continue to be in charge of Xinlang?"
Xu Liang nodded affirmatively.
As the founder of Xinlang, Wang Zhidong's leadership of Xinlang was quite effective. In particular, he seized the opportunity of the 2000 Olympic Games and firmly established Sina as China's number one portal. Of course, there are also mistakes, such as the cooperation with Sunshine Culture.
But overall it's still excellent.
More importantly, after acquiring Xinlang, Xu Liang will launch a series of reforms to Sina. Letting him return to preside over the company's daily operations is also a way to stabilize people's hearts.
Of course, if Wang Zhidong cannot clearly see his position and publicly sings the opposite, he will not be polite.
"In order to ensure victory over Duan Yongji and allow Mr. Wang to successfully regain his position, Hongmeng needs to acquire your Xinlang equity." Xu Liangdao.
Wang Zhidong frowned.
"I can support you at the shareholders' meeting."
With the lesson of being kicked out of the company last time, he has a new understanding of the role of equity.
In order to secure his position within Xinlang, he doesn’t want to sell his shares.
Xu Liang shook his head, "Hongmeng wants to acquire Sina as a whole and delist it, so we must take back Mr. Wang's equity. In the future, the company will give you options in Hongmeng based on your performance. "
"Why must it be delisted? The cost of such an acquisition is too high," Wang Zhidong said.
“We acquired Xinlang because we hope it can become a part of the Hongmeng family, rather than an abandoned child wandering around,” said Xu Liangdao.
If nothing else, after the acquisition of Xinlang, Bing Information's editorial team will definitely merge with Xinlang's editorial team. It is impossible for the company to maintain two departments with similar functions.
At the same time, the mailboxes of the two companies also need to be merged.
Xinlang’s overseas business must be integrated with Hongmeng’s overseas portal Naver.
These are all things that must be done with absolute control.
"You can rest assured that Hongmeng will never let its own people suffer. We will acquire all the equity in your hands at a price of four dollars." Xu Liang continued.
Xinlang’s stock price is now US$2.2 per share, and Xu Liang’s conditions are favorable enough.
As long as he agrees, he will receive 10.23 million US dollars.
After hesitating for a moment, Wang Zhidong asked.
“I only sell 2% of the equity, and the remaining 4% will be folded into Hongmeng Company. I wonder if that’s okay?”
Xu Liang smiled and nodded, "It's a very smart choice. However, Hongmeng currently has two entities, one is Hongmeng China and the other is Hongmeng International. Which one do you choose?"
Wang Zhidong thought about it and then chose Hongmeng China.
He does not know that Hongmeng China has not started financing yet. Still like most people, they think that US$2.8 billion is the financing of the entire Hongmeng.
Xu Liang didn’t explain much.
“Tomorrow you come to Wangjing Building to sign the contract.”
Wang Zhidong nodded.
——
While Xu Liang continued to increase his Xinlang shareholdings, Duan Yongji was not idle either.
"Boss Liu, you have to help me. You are the only one who can help me now."
"Isn't your Xinlang poison pill plan? Why not implement it?" Liu Chuanzhi asked.
Duan Yongji said with a wry smile: "Our Xinlang is an Internet company listed in the United States. If we want to implement the poison pill plan, it must be approved by the U.S. Securities and Exchange Commission, which takes time.
Moreover, Morgan Stanley and Hongmeng acquired Sina The timing of the equity is so good, one is attracting our attention openly, and the other is secretly collecting equity.
This combination of overt and covert, by the time we pay attention, it is already too late.
With Morgan Stanley’s status in the United States, it can easily get the SEC to reject our poison pill plan.”
After Liu Chuanzhi nodded slightly, “Then Hongmeng holds your shares, and so does Hongyan Fund. Holding your shares, their boss is Xu Liang, so that’s okay.”
"We asked the SEC that Hongmeng and Hongyan Fund are independent legal persons and can be purchased."
Paused.
"Boss Liu, help me contact the above, this is my greatest hope now."
Liu Chuanzhi sighed and said: "I have already called you and asked. Hongmeng Company is now a high-tech enterprise focused on development by the Beijing City Government, and it is difficult for the superiors to directly intervene." Duan Yongji's heart sank, and his tone was angry but also a little desperate.
"Are there no other opportunities?"
Compared with money, he is definitely no match for Hongmeng, which just raised US$560 million. In terms of influence and background, they are stronger than Xinlang.
If he doesn't care about the above, he really can't think of any other better way.
"The chance is indeed very slim, but it is not impossible."
Duan Yongji seemed to have grasped a life-saving straw and asked quickly: "Boss Liu, what can I do?"
"People's words are scary." Liu Chuanzhi said slowly.
“... "
Duan Yongji hesitated and said, "Boss Liu, although Sina is the largest portal website in the country, there are NetEase, Sohu and China.com behind it, which is far from a monopoly. "
"Old Duan, are you stupid? I'm not talking about the monopoly of the portal website, but the monopoly of the entire Internet. Just do the math, how many businesses does Hongmeng have now?
Internet search, games, music, literature, animation, browsers, e-commerce, email, if Xinlang is acquired, they will also enter the portal website.
Hongmeng is like a growing behemoth, a trust in the Internet industry, which has seriously hindered industry innovation and the healthy development of the Internet industry.
You have to make a big fuss about this.
Stir up public opinion and the big guys will help you. ”
Duan Yongji’s eyes lit up and his morale recovered a little. He knows the power of public opinion well as he controls Sina.
"Old Duan, only babies who can cry can be fed by milk. Although the words are a little rough, the truth is very clear."
Duan Yongji nodded, "Boss Liu, you are still the best. I will give the order right away. Go down.”
“It’s a critical time, don’t be stingy about spending money, and find more influential people in society.”
“Don’t worry, Boss Liu, but it’s time. At this critical moment, your brother has to help me.”
“Haha, don’t worry about this. Not only me, but the entire Taishan Association will have your strong backing.”
After hearing this, Duan Yongji, who was originally desperate, became more confident.
Thank you to the book friends 'Fai Ge' and 'Yu Yan Youyuan' for the reward of 100 starting coins each. Thank you very much
(End of this chapter)