America’s Road To Wealth

  Chapter 219 The capital battlefield full of gunpowder

  The three Taylor brothers finally agreed to Abel's offer.

   Now in 2001, Abel's offer can be said to be the most sincere offer.

  Even among the many buyers who are interested in Sempra Energy, his offer is the most attractive one.

   In the end, it was Abel who bought 59.64 million original shares of Sempra Energy in the hands of the Taylor family for $78 a share.

   This news was learned by Qixiu Martin, chairman of Sempra Energy, on the same day.

   "Fack Taylor! Fuck Taylor! Fuck! Fuck!"

  Aged about 60 years old, one of the companies that merged into Sempra Energy, the founder of Enova.

   Qixiu Martin, chairman of the merged Sempra Energy Company, was so angry that he almost smashed things in the office.

   "Boss, anger won't help." The general manager Delevingne persuaded.

   "I get it, I get it" Qixiu Martin knows this too.

   "BOSS. The next thing we should consider is how to maintain our control of the company when Smith enters the board of directors." The general manager said.

   Qixiu Martin was very sure of this.

   "Although we directly hold only about 31.1% of the shares." Qixiu Martin said confidently:

   "But shareholders are willing to trust us, at least 30% of the voting rights are on our side! In the board of directors, we are not afraid of Smith's 21%!"

  The general manager also nodded with a smile.

   After all, Qixiu Martin has been running Sempra Energy for two years.

  Under his leadership, the company performed 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 win over of the company's shareholders are very successful.

   "Ring~Ring~Ring"

  The phone in Qixiu Martin's office rang, and the chairman picked it up.

   "Mr. Chairman, is Mr. Mayo's call transferred?"

"turn around."

   Mayo is a minority shareholder of Sempra Energy.

   is also Qixiu Martin's friend.

   was also one of his supporters at the shareholders meeting.

   "Hi ~ Mayo, good morning." Qixiu Martin said cheerfully:

   "How long has it been since we played golf together? Last month, oh no, we only played once in October last year. When will we meet again? Old friend, I miss you a little bit."

   "Sorry. Martin, I might be busy next time"

  The voice of the shareholder Mayo came from the opposite side. He said on the phone:

   "I made another call to tell you, Martin. The 9.09% of Sempra Energy shares I hold have just been sold."

   "Mayo!"

   Qixiu Martin's voice couldn't help but grow louder.

   "Sorry. I don't want to do this, but Martin, the price was too good."

   "Mayo Jones, you are betraying, naked betrayal." Qixiu Martin hissed.

   "Hehe...you can say whatever you want. Goodbye, Qixiu Martin." The minority shareholder hung up the phone.

"Snapped!"

   Qi Xiu Martin hung up the phone vigorously.

   Within two seconds, the phone rang again.

   "Hello?" Qi Xiu Martin held back his anger.

  The voice of the secretary was still on the phone, and the secretary seemed to hear the boss's anger.

  She hesitated and whispered, "Boss, it's Mr. Mayo's call again."

   "Answer."

   Qixiu Martin said in a deep voice.

   Soon the voice of the minority shareholder came from the phone:

   "For the sake of the fact that we got along relatively well in the past. Mr. Martin, I will tell you one more piece of news at the end."

"what news?"

   "The news is... In fact, as early as two or three months ago, someone from Smith Capital was contacting us."

"us?"

   "That's right. It's us." Mayo said on the phone:

   "Like me, the shareholding ratio is not too much, the minority shareholders of Sempra Energy. We all got their offers."

   Qixiu Martin was already anxious, and he tried his best to look calmer.

  He continued: "Impossible. If that was the case, they should have told me earlier."

   "No one will be against their own interests. No one." Minority shareholder Mayo said:

   "You should understand this, Martin. Hope you are doing well, bye."

   Qixiu Martin didn't even want to say goodbye, so he hung up the phone.

   After hanging up the phone, he immediately started ordering the general manager Delevingne.

   "Delevingne, contact the shareholders immediately. Especially those small shareholders, immediately!"

   Qixiu Martin said loudly.

  The general manager Delevingne, who was watching the whole process, also knew what happened.

  He immediately agreed.

  Then the chairman and general manager of Sempra Energy acted.

  But before noon, what they received was bad news one after another.

  The more than a dozen small shareholders that the two contacted separately informed the two of them.

   Just these two days, a company called Ales Energy bought their shares.

   "15%." Delevingne said with some trepidation: "Including the 21% of the Taylor family, it exceeds 36%!"

   Qixiu Martin had a cold face, and just about to speak, the secretary walked in.

   Then the chairman and general manager of Sempra Energy heard the news they least wanted to hear.

   "Mr. Martin, Mr. Lexley. Just now, a Texas energy company announced that it holds a total of 36.3% of our company's shares."

   "And for the secondary market and the primary market, launched a comprehensive tender offer for us!"

   Qixiu Martin, who was in his sixties, felt his eyes go dark.

  That night, some TV stations that focus on finance and economics published this news.

  For example, Fox News Channel under News Corporation.

   It has a featured show.

  Fox News, after the news broadcast every night.

  Produce a one-hour special to analyze the important news happening in the United States of the day.

  In this program, the good-looking young hostess specifically talked about Ales Energy, who made a comprehensive offer to acquire Sempra Energy.

  【Since last year, Alesvas and Power Company in Texas has been buying Sempra's stock continuously. 】

  【As of mid-March this year, the shareholding ratio has reached 6.26%. 】

  【The day before yesterday, Alan Baker, special advisor to Ales Energy, and Abel Smith, chairman of Ales Energy, reached a deal with the Taylor family, the majority shareholder of Sempra Energy. 】

  【Ales Energy acquired 21.07% of Sempra Energy shares held by the Taylor family in cash.

  【The total share capital held by Ales Energy Company immediately rose to more than 27%. 】

  【But Mr. Smith is not satisfied with being only the second largest shareholder of Sempra Energy. 】

  【Ales Energy contacted many shareholders of Sempra Energy in private, and bought 9.5% of Sempra Energy in one go yesterday and today】

  【Recently, Ales Energy's shareholding line has exceeded the 36% offer line. 】

  【Ales Energy launched a general tender offer for Sempra Energy today. 】

  【Sampra Energy is a West Coast energy giant with a market value of 16.6 billion US dollars, which provides nearly one-third of the electricity and more than one-quarter of the natural gas in many parts of California, with more than 20 million customers】

  【. There is no doubt that the most intense first battle in the stock market this year is about to start. 】

  Under the Fox host's sweet talk.

   A lot of ordinary Americans who wouldn't pay attention to this kind of thing.

  Because one of the acquirers is Abel Smith, and after the host made such remarks.

   Many ordinary Americans began to pay attention to this news.

  There are more people paying attention, other newspapers and TV stations.

   In order to compete for sales and ratings, in order to compete for eyeballs.

   Naturally, they quickly followed suit.

  The next day, the largest newspaper in the United States, the Wall Street Journal, which had initiated the second wave of "Smith Storm", also ended.

  The Wall Street Journal analyzed this transaction from a more professional financial perspective.

  The reporter of this daily newspaper thinks in the article.

   Sempra Energy is a very low-key company.

   It never made any news before this year.

   It has always been unobtrusive, because its performance has been stable all year round, and its scale has not declined or developed. There are no securities analysts paying attention to it.

  But since November last year, the stock price has been rising all the way.

  The original market value fluctuated around US$13 billion.

  In just four months, the stock price has soared by 38%, and it is about to break through the 17 billion mark.

   Obviously at that time, it should be time for Abel Smith to start planning ahead.

   The Wall Street Journal is all over.

  The financial experts of the major media naturally couldn't bear it.

  They began a comprehensive study of the enterprise.

  This makes them realize that even if the stock price has risen so much.

  Sampra's current market value is still far from his net assets.

  For example, the market share of Sempra Energy in California is actually similar to that of another California Pacific Electric.

  But the market value of California Pacific Electric is as high as 25 billion US dollars.

  And Sempra Energy holds a large number of offshore oil exploration rights.

  These ocean exploration rights, it’s okay if no oil is found.

   If oil is found, $17 billion is definitely not the real value of Sempra Energy.

  In addition, Sempra Energy is also actively exploring overseas markets.

  Especially in South America, technology transfer sales contracts have been signed with companies in Argentina, Paraguay, Uruguay, Brazil and other countries.

  In addition, Sempra Energy has also signed long-term parity natural gas contracts with several companies on Maoxiong's side.

   It was signed two years ago.

  Two years ago, the bear exchange rate collapsed and sovereign foreign debt defaulted, which was the most difficult time for them.

   That was also the time when global natural prices were low.

   This allowed Sempra Energy to sign the contract at the time, and the price of natural gas was very low.

  The price of natural gas is low, for a company that provides electricity, it means that the cost is a little lower than others.

   Such a low-key and underappreciated listed company was suddenly targeted by "Financial Moses" this year.

   Or Abel Smith, the first company to announce a general takeover offer.

   This means that he values ​​this company very much.

   means that the current market value of Sempra Energy does not match its true value at all.

  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 arrival, more threatening actions are bound to be taken against Sampla Energy. 】

  【Whether he can take Sempra Energy under his banner or not, local financial authorities on the west coast have all given positive judgments. 】

  The "New York Times" is also paying attention, and they even sent people to interview the top figures related to Sempra Energy.

  【Mr. Qixiu Martin, chairman of the board of directors of Sempra Energy, said that he is not afraid of any hostile takeover, and has contacted major banks and is always ready to fight back against the "invasion" of Ales Energy. 】

  【This newspaper also interviewed another founding family of Sempra Energy. 】

  【According to Mr. Musk Taylor, the chairman of the Taylor Charitable Foundation Council, Qixiu Martin broke his promise first, and the sale of shares by the Taylor family is not a betrayal! 】

  All major newspapers have appeared.

  Financial magazines will certainly not fail.

  Fortune, as the media of the American elite, also participated in the report of Sempra Energy News.

  But "Fortune" magazine only mentioned Abel's acquisition of Sempra Energy.

  The following content, as the headlines on the front page, they actually stopped mentioning the recent hot acquisition of Sampla Energy.

   Instead, put Abel Smith and Warren Buffett.

   with American Express CEO Kenneth Chenault.

  Hang the photos of the three people on the headline in a triangle shape, and draw the arrows of the three-party game.

  【Are Smith and Buffett acting in concert? 】

   "Person acting in concert" is a term used in business transactions, acquisitions, and especially in the stock market.

  Generally refers to a few people who cooperate secretly according to formal or informal agreement and tacit understanding, and achieve the acquisition of a listed company through any party.

  All stock exchanges around the world are strictly guarding against persons acting in concert in the acquisition of a listed company.

  The securities regulatory commissions of various countries do not even investigate written agreements when dealing with such lawsuits.

  As long as the fact of concerted action is confirmed, the acquisition will be rejected.

  Concerted action is covert action.

  Two or more parties are eyeing a listed company.

  In order to take the controlling stake by surprise.

  They will launch a bright acquirer to fight the listed company openly.

  The rest of the partners are secretly fighting, and when they complete the absolute control, they will suddenly attack the listed company.

  This kind of attack has already established the victory, and the listed company has no chance of turning over.

   Precisely because it is too harmful, all CSRCs have extremely strict restrictions on "persons acting in concert" and only look at the facts, not the agreement.

  "Fortune" guessed that Abel and Buffett were acting in concert, and it was not groundless. They analyzed:

  【As we all know, Warren has always been very optimistic about American Express Bank. Because American Express Bank is the only service company in the Dow Jones Industrial Data constituent stocks. 】

  【From a long time ago, Buffett has been increasing his stake in American Express Bank. 】

  【However, in the near future, we have noticed that Smith Capital and Pacific Bank of Commerce have become the actual largest shareholders of American Express Bank】

  【After that, Warren Buffett also suddenly began to increase his stake in American Express Bank】

  【Before this newspaper published this news, the two parties already held 36% of the shares of American Express】

  【Whoever sells the stock to another person must be able to control American Express, which is very similar to the standard of "people acting in concert"】

  【So this newspaper.】

  The material of "Fortune" is poking holes.

   A little carelessness will lead to "Fortune" itself falling into crisis.

  That's Buffett and Smith, the two plus Soros.

  The three people have been rendered as the three major Wall Street oligarchs.

   At the risk of offending two of the three big oligarchs, Time Warner, behind Fortune magazine, still allowed it to be published.

  What is a media giant doing to meddle in this kind of thing?

   Two reasons.

  One is that Abel is also a media giant, and he is also a catfish in the American media industry, which makes the entire American media industry panic.

   Already a competitor.

   Certainly not much to say about competitors.

  In addition, the management of American Express Bank has discovered a change in the attitude of Buffett, who was very supportive of them in the past.

  They are worried that if Buffett really unites with Smith, then their group of high-level executives will really be finished.

  Other shareholders of American Express do not want this high-quality company to be monopolized by others.

  So with the help of certain shareholders, Kenneth Chenault, CEO of American Express, personally came forward and asked Fortune to publish it.

   Amex is in a precarious position at this moment.

   It doesn't have the power to fight both Buffett and Smith.

  It has to build momentum, it has to use all the means at its disposal.

   Otherwise Amex would have changed hands.

Of course.

  "Fortune" didn't dare to really die completely.

  An Abe Smith, there is a way to get Time Warner in the capital market.

   Now there is another Warren Buffett.

  "Fortune" didn't dare to get too involved, and added a sentence in black font at the end:

  【The opinion comes from XX, an authoritative expert in the financial industry, and has nothing to do with this newspaper】

  After the news came out, Smith Capital responded very quickly.

  A press conference was held at 8 o'clock that morning, and it was broadcast live on AMC TV.

  The freshly appointed CEO of Smith Capital, David Mellon himself acted as a spokesperson, severely accusing Fortune of distorted and bad remarks.

  David spoke nonsense with his eyes open:

  "The company has never made a decision on "person acting in concert" with Mr. Buffett before this."

   "Fortune's groundless speculation has caused a bad impact on the group's reputation. We have issued a lawyer's letter, and Fortune must make a public apology."

   "As for the financial person, we will directly resolve it through litigation."

  Berkshire is right behind Smith Capital.

   Buffett's confidant, Munger, lashed out at "Fortune" for irresponsible slander.

  Don't look at the Huan scolding by both of them, the attitude is very firm.

   But this kind of thing is actually the same as what the United States did at the National Congress meeting.

  【I said you have washing powder, you really better have washing powder·JPG】

   It just so happens that Buffett and Abel really have "laundry".

  How dare Fortune say that it is offending two people.

  The number one young man of the two came out to make such a statement.

   Even "Fortune" finally had to publish an apology in the newspaper.

  The "expert so-and-so" was charged with "planting and slandering" by the impartial and impartial prosecutor Robert in the Manhattan area because of this matter, and was sentenced to three months in prison.

  By the end of March 2001, the American financial media was full of gunpowder and thrilling.

  Amid such scolding and public opinion, the stock price of Sempra Energy also skyrocketed.

  From $16.6 billion at the beginning, it rose to $26.5 billion in just a few days.

   It has surpassed another peer, Pacific Electric, which also has a huge market in California and the West Coast.

  (end of this chapter)