Chapter 219
Chapter 219 The capital's battlefield was full of gunpowder
The three Taylor brothers finally accepted Abel's offer.
Today, in 2001, Abel's offer can be considered the most sincere one.
Even among the many buyers interested in Sempra Energy, its offer remains the most attractive.
In the end, Abel was the one who bought 59.64 million original shares of Sempra Energy from the Taylor family for $78 per share.
This news was learned the same day by Qixiu Martin, president of Sempra Energy. "Fack Taylor! Fuck Taylor! Fuck! Fuck!"
Around 60 years old, one of the companies merged with Sempra Energy, the founder of Enova.
Qixiu Martin, president of the merged Sempra Energy Company, was so angry that he almost broke furniture in the office.
"Boss, getting angry won't work." CEO Delevingne is convinced.
"I understand, I understand" Qixiu Martin also knows.
"OWNER. The next thing we should consider is how to maintain control of the company once Smith joins the board," the executive said.
Qixiu Martin is very sure about this.
"Even though we only directly own about 31.1% of the shares." Qixiu Martin confidently said:
"But shareholders are willing to trust us, at least 30% of the voting rights are on our side! On the board, we are not afraid of Smith's 21%!"
The general director also smiled and nodded.
After all, Qixiu Martin has been running Sempra Energy for two years.
Under his leadership, the company has performed very well. The annual dividend distribution is also satisfactory.
More importantly, he is one of the founders of the company.
The control of the company and the buyout of its shareholders were very successful.
"Rung~Rang~Vibrate"
The phone in Qixiu Martin's office rang and the president picked it up.
"Mr. President, has Mr. Mayo's call been transferred? »
"come back."
Mayo is a minority shareholder of Sempra Energy. also a friend of Qixiu Martin.
was also one of his supporters at the shareholder meeting.
"Hello ~ Mayo, hello." Qixiu Martin happily said:
"How long has it been since we played golf together? Last month no, last October we only played once. When will we meet again? Old friend, I miss you a little.
"Sorry. Martin, I might be busy next time."
The voice of Mayo shareholder rang out from the opposite side. He said on the phone:
"I called again to let you know, Martin. The 9.09% of Sempra Energy shares I own were just sold."
"Mayo! »
Qixiu Martin's voice couldn't help but get louder.
"So sorry. I don't want to do this, but Martin, the price is great."
"Mayo Jones, you are betraying, blatantly betraying." Qixiu Martin hissed.
"Hehe...you can say whatever you want. Goodbye, Qixiu Martin." The minority shareholder hung up.
"Broken!"
Qi Xiu Martin forcefully hung up the phone.
Two seconds later, the phone rang again. "Good morning?" Qi Xiu Martin suppressed his anger.
The secretary's voice was still ringing on the phone. The secretary seemed to hear the boss's anger.
She hesitantly whispered: "Boss, it's Mr. Mayo calling again."
"Reply."
Qixiu Martin said in a low voice.
Immediately after that, the minority shareholder's voice rang out from the phone:
"Because we were relatively good together before. Mr. Martin, I will finally tell you another piece of news."
"What's new?"
"The news is... In fact, it was two or three months ago that someone from Smith Capital reached out to us. »
"We?"
"That's right. It's us." Mayo said by phone:
"Like me, the ownership percentage is not too high, the minority shareholders of Sempra Energy. We all received their offer."
Qixiu Martin was already nervous and tried his best to look calmer.
He continued: "No way. If that's true, they should have told me sooner."
"No one goes against their own interests. No one." Minority shareholder Mayo said:
"You should understand that, Martin. I hope you're okay, goodbye."
Qixiu Martin didn't even want to say goodbye so he hung up.
After hanging up the phone, he immediately gave orders to general manager Delevingne.
"Delevingne, contact the shareholders immediately. Especially these small shareholders, immediately!"
Qixiu Martin said loudly. CEO Delevingne, who followed the whole process, also knew what happened.
He immediately agreed.
Then Sempra Energy's president and CEO took action.
But before noon, they received bad news one after another.
Dozens of small shareholders contacted by the two people notified them privately. Just these two days, a company called Ales Energy bought its shares.
"15%." Delevingne said with concern: "Including the 21% of the Taylor family, that number exceeds 36%!
Qixiu Martin looked cold and was about to speak when the secretary walked in.
That's when the president and CEO of Sempra Energy heard the news he least wanted to hear.
"Mr. Martin, Mr. Lexley. Recently, an energy company in Texas announced that it owns a total of 36.3% of our company's shares."
"And for the secondary and primary markets, we have launched a global tender offer!
Qixiu Martin, who was in his sixties, felt his eyes darken. That evening, a number of television channels specializing in finance and economics posted this news.
For example, Fox News Channel belongs to News Corporation.
There is a special program.
Fox News, after the evening news.
Produce a one-hour special that analyzes important news happening in the United States today. In this broadcast, the beautiful young hostess spoke specifically about Ales Energy, which has made an offer to acquire Sempra Energy globally.
[Since last year, Alesvas and Power Company in Texas has continuously purchased Sempra shares. ]
[As of mid-March this year, the voter turnout rate reached 6.26%. ]
[The other day, Alan Baker, Special Advisor to Ales Energy, and Abel Smith, Chairman of Ales Energy, reached an agreement with the Taylor family, major shareholders of Sempra Energy. ]
[Ales Energy acquires in cash 21.07% of the shares of Sempra Energy held by the Taylor family. [The total share capital held by Ales Energy Company immediately increased to more than 27%. ]
[But Mr. Smith is not satisfied with being just Sempra Energy's second-largest shareholder. ]
[Ales Energy privately contacted many Sempra Energy shareholders and purchased 9.5% of Sempra Energy shares in one go yesterday and today]
[Recently, Ales Energy's share level exceeded the bid level by 36%. ]
[Ales Energy today launched a joint tender offer for Sempra Energy. ]
Sampra Energy is a West Coast energy giant with a market value of $16.6 billion, providing nearly a third of the electricity and more than a quarter of the natural gas in many parts of California, with more than 20 million customers. ]
[. There is no doubt that the first and fiercest stock war this year is about to begin. ]
Under the gentle words of the Fox landlord.
Many ordinary Americans will not pay attention to this.
Because one of the buyers was Abel Smith, and after the host made such a comment.
Many ordinary Americans began to pay attention to this news. More people pay attention to it, other newspapers and TV channels.
To compete for sales and audiences, to compete for eyes.
Naturally, they quickly followed suit.
The next day, America's largest newspaper, the Wall Street Journal, the newspaper that caused the second wave of "Hurricane Smith", also ended.
The Wall Street Journal analyzed this transaction from a more professional financial perspective. The journalist of this daily newspaper reflected in the article.
Sempra Energy is a very discreet company.
This was never reported until this year.
It stays low, because its performance is stable all year round and its size neither shrinks nor expands. No stock analysts paid attention to it. But since last November, the stock price has continued to rise.
The initial market value fluctuated around 13 billion USD.
In just 4 months, the stock price has increased 38% and is about to surpass the 17 billion mark.
Clearly, at that point it was time for Abel Smith to start planning.
The Wall Street Journal is over. The financial experts of major media naturally cannot stand it.
They started doing in-depth research about the company.
This made them realize that even though the stock price had increased a lot.
Sampra's current market value is still far from its net assets.
For example, Sempra Energy's market share in California is actually similar to that of other California Pacific Electric. But California Pacific Electric's market value is $25 billion.
And Sempra Energy owns a large number of offshore oil exploration rights.
The right to explore this ocean, it doesn't matter if you don't find oil.
If oil is discovered, $17 billion certainly does not represent Sempra Energy's true value.
In addition, Sempra Energy is also actively exploring foreign markets. Especially in South America, technology transfer and purchase contracts have been signed with companies in Argentina, Paraguay, Uruguay, Brazil and other countries.
In addition, Sempra Energy has also signed long-term natural gas contracts at par with several companies on the Maoxiong side.
It was signed two years ago.
Two years ago, the falling exchange rate collapsed and foreign government debt defaulted, which was the most difficult time for them.
This is also a time when global natural prices are low. This allowed Sempra Energy to sign contracts at that time and natural gas prices were very low.
Natural gas prices are low, which for an electric utility means costs will be slightly lower than for others.
Such a poor and undervalued listed company suddenly became the target of "Financial Moses" this year.
Or Abel Smith, the first company to announce a joint tender offer.
This means he really appreciates this company. meaning that Sempra Energy's current market value does not correspond at all to its actual value.
The Los Angeles Times, the most authoritative local newspaper in California, also commented:
[Alex Energy Chairman Abel Smith arrived in California on March 28. ]
[With his appearance, there will definitely be more threatening actions towards Sampla Energy. ]
Whether or not Sempra Energy can be brought under its banner, local financial authorities on the West Coast have given positive reviews. ]
The "New York Times" is also paying attention to this and has even sent people to interview the highest-ranking people involved in Sempra Energy. [Grandfather. Qixiu Martin, Chairman of the board of directors of Sempra Energy, said he is not afraid of any hostile takeover, has been in contact with major banks and is always ready to fight against the "aggression" from Ales Energy. ]
[This newspaper also interviewed another founding family of Sempra Energy. ]
[According to Mr. Musk Taylor, Chairman of the Board of Directors of the Taylor Charity Foundation, Qixiu Martin broke his promise in advance, and the sale of the Taylor family's shares is not treason! ]
All the major newspapers appeared.
The financial magazine will certainly not fail.
Fortune, as America's preeminent media agency, also participated in Sempra Energy News' coverage. But "Fortune" magazine only mentioned Abel's acquisition of Sempra Energy.
The following content, like the front-page headlines, actually stops short of mentioning the recent red-hot acquisition of Sampla Energy.
Put Abel Smith and Warren Buffett instead.
with Kenneth Chenault, CEO of American Express.
Hang pictures of three people on the header in a triangle shape and draw arrows for a three-person game. Do Smith and Buffett work well together? ]
"Coordinator" is a term used in commercial transactions, acquisitions and especially in the stock market.
Generally refers to a number of people who cooperate secretly under formal or informal agreements and tacit understandings, and achieve the acquisition of a listed company through any party.
All stock exchanges around the world are strictly on the lookout for people involved in the acquisition of a listed company.
Securities regulatory commissions in many countries do not even investigate written agreements when settling such lawsuits. As long as the implementation of concerted action is confirmed, the acquisition will be rejected.
Joint action is secret action.
Two or more parties are considering a listed company.
To capture a majority of shares unexpectedly.
They will launch a talented acquirer to openly fight the listed company. The remaining partners are secretly fighting and when they gain absolute control, they will suddenly attack the listed company.
This type of attack has already established victory and the listed company has no chance of turning back.
Precisely because it is so harmful, all CSRCs impose extremely strict restrictions on "actors" and care only about the truth and not about agreement.
"Fortune" guesses that Abel and Buffett are coordinating their actions, which is not unfounded. They analyzed:
[As we know, Warren is always very optimistic about American Express Bank. Because American Express Bank is the only service company among the Dow Jones Industrial Data constituent stocks. ]
[For a long time, Buffett increased his stake in American Express Bank. ]
[However, in the near future, we see Smith Capital and Pacific Bank of Commerce becoming major shareholders of American Express Bank.]
[After that, Warren Buffett also suddenly started increasing his shares in American Express Bank]
[Before this newspaper published this news, the two parties owned 36% of American Express's shares]
[Whoever sells shares to someone else must be able to control American Express, very similar to the "concert performer" standard]
[So this is the diary.]
The material from "Fortune" has holes.
A little carelessness will cause "Van" himself to fall into crisis.
Here's Buffett and Smith, both plus Soros. These three people are said to be the three main financiers on Wall Street.
At the risk of offending two of the three major oligarchs, Time Warner, founder of Fortune magazine, still allowed publication.
What is a media giant doing to get involved in this kind of thing?
Two reasons.
The first is that Abel is also a media giant and at the same time a catfish in the American media industry, which makes the entire American media industry panic. Already a competitor.
There's certainly not much to say about the competitors.
In addition, the management of American Express bank noticed a change in Buffett's attitude, which was very beneficial for them before.
They fear that if Buffett does indeed merge with Smith, their group of top executives will truly be over.
American Express's other shareholders do not want this high-quality company to be monopolized by others. So, with the help of some shareholders, Kenneth Chenault, CEO of American Express, personally stepped forward and asked Fortune to publish it.
Amex is currently in a precarious situation.
She doesn't have enough strength to fight both Buffett and Smith.
It has to create momentum, it has to use every means available.
Otherwise, Amex would have changed hands. Of course.
"Lucky" really doesn't dare to die completely.
According to Abe Smith, there is a way to introduce Time Warner into the capital markets.
Now there's another Warren Buffett.
"Fate" did not dare to intervene, and finally added a black sentence:
[The opinion comes from XX, an authoritative expert in the financial industry and has nothing to do with this newspaper]
After the news was released, Smith Capital reacted very quickly. The press conference was held at 8 a.m. that morning and was broadcast live on AMC television.
Smith Capital's new CEO, David Mellon, acted as a spokesman, harshly accusing Fortune of making distorted and unflattering comments.
David spoke nonsense with wide eyes:
"The Company has never before made a decision regarding a 'partner' with Mr. Buffett."
"Fortune's baseless speculation has negatively affected the group's reputation. We issued a lawyer's letter and Fortune had to issue a public apology."
"Regarding financial issues, we will resolve them directly through the court."
Berkshire is right behind Smith Capital.
Munger, Buffett's confidant, criticized Fortune for irresponsible slander Don't look at the two of them scolding Huan, their attitude is very determined.
But this kind of thing is actually similar to what the United States did at the meeting of Congress.
[I said you have washing powder, you really should have washing powder·JPG]
It turns out that Buffett and Abel actually have a "laundry shop."
How dare Fortune say she insulted the two of you.
The first young man of the two came forward to make such a statement. Even Fortune finally had to publish an apology in the newspaper.
The "similar expert" was charged with "fraud and slander" by the fair and impartial Manhattan prosecutor Robert for this matter and sentenced to three months in prison.
At the end of March 2001, the American financial media was filled with gunfire and excitement.
Amid this criticism and public opinion, Sempra Energy's stock price also skyrocketed.
From 16.6 billion USD at the beginning, it increased to 26.5 billion USD in just a few days. It outperforms another competitor, Pacific Electric, which also has huge markets in California and the West Coast.
(end of this chapter)