God of Corporate Hunting - Chapter 287



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◈ Episode 287 New Battlefield (3)

A huge storm hit the stock market.

The hostile takeover announcement by KR Investment Group caused a huge stir.

Bukseong Chemical Energy is a huge company with a market capitalization of 50 trillion won. It is a company that is virtually impossible to hostilely take over.

It was also known that the stake of the owner family of the Bukseong Group was relatively strong.

While several affiliates, including Bukseong Construction, Bukseong Distribution, and Bukseong Life, were embroiled in stock disputes, only Bukseong Chemical Energy remained steadfast.

It was a central company that firmly held the center of the Bukseong Group with its huge size. So, Bukseong Group was relatively less involved in gossip.

They attacked Bukseong Chemical Energy.

The KR Investment Group, which was said to be a friendly force of the Bukseong Group, also raised the flag of corporate hunting.

In an instant, the stock price of Bukseong Life Insurance reversed to the lower limit, while that of Bukseong Chemical Energy went straight to the upper limit.

“A foreign investment company is taking over the Bukseong Group?”

“Chairman Hyeonjae Seop is ruined.”

“Bukseong Life was greedy and ended up getting ripped off by Bukseong Chemical Energy.”

“Is Bukseong Group becoming a foreign company?”

“Ah! Shit! Bukseong Life Insurance stocks are ruined! I should have bought Bukseong Chemical Energy.”

“Stock trading is a shortcut to the end of life.”

The news of Bukseong Chemical Energy and KR Investment Group completely put Bukseong Life Materials to sleep.

The Korea Asset Management consortium sold Bukseong Life Insurance stocks and even short-sold them.

They heard the news about Bukseong Chemical Energy at the moment they were celebrating their successful investment.

“How did this happen?”

Yoon Se-bin couldn’t hide his bewildered expression.

Nam Woon Myung was also surprised. However, he had a rough idea. If you analyze Everly’s actions, it’s not something you wouldn’t notice.

“From the beginning, Everly had no interest in Bukseong Life.”

“You appeared as Chairman Hyeon-Seop’s friendly force, right?”

“That’s to distract the other party and put them in a difficult situation. I don’t know for sure, but I think Chairman Hyeon-seop Hyeon received funds from KR Investment Group and pushed them into Bukseong Life Insurance.”

It was a natural course of action if you had devoted all your energy to Bukseong Life.

The stock price of Bukseong Life Insurance will not be able to break out of the lower limit for the time being. Now, even if you want to sell, you can’t. That’s because the materials have completely disappeared.

People’s interest also shifted from Bukseong Life to Bukseong Chemical Energy.

It will take a few days for the lower limit to be lifted, and by then the stock price will probably be back to its previous level.

Since the current Seop side cannot sell the Bukseong Life Insurance stocks that they have accumulated so far, they do not have money to defend Bukseong Chemical Energy.

In addition, the funds received from the KR investment group are problematic. If Bukseong Life Insurance suffered a huge loss, then getting back the entrusted stocks is also problematic. In fact, it has fallen into a hell where recovery is impossible.

After the death of Chairman Hyun Man-heum, Chairman Hyun Jae-seop only shook hands repeatedly.

From now on, you have to pay the price.

“Chairman Hyeon-seop’s stake must still be considerable, right?”

Nam Yun-myeong shook his head.

“I don’t know, but seeing KR Investment Group confidently declaring so, I’m sure they’ve already done their equity calculations. They’ve probably done the work.”

“It’s a scary world.”

“If it were normal, Chairman Hyun-Seop would have noticed. However, he trusted Everly too much and was so focused on Bukseong Life Insurance… that he didn’t realize that his own house was on fire.”

Greed is the root of trouble.

It was also not easy for Nam Woon-myung and Yun Se-bin to quickly switch their fighting power from Bukseong Life to Bukseong Chemical Energy.

In this situation, how much more must Hyun-Seop feel?

“Don’t we have quite a bit of Bukseong Chemical Energy?”

“Yes. I think we’ll have a real fight with Everly in this stock. Will Everly succeed in a hostile M&A?”

Nam Yun-myeong’s laughter deepened.

At that moment, Nam Woon-myung’s phone rang.

Everida.

Yoon Se-bin gestured for him to quickly receive it.

Nam Woon-myung turned on the speakerphone and answered.

“It’s been a while. I enjoyed reading your declaration today.”

[I do it when I have to. Bukseong Chemical Energy is a good company, right?]

“Well done. The means used are even more amazing.”

[So… … shall we meet tomorrow evening?]

“What’s going on all of a sudden?”

The sudden request to meet up is suspicious.

[There’s a lot to sort out. Bukseong Life and Bukseong Chemical Energy. We have a lot of things going on, right?]

I don’t know where he got involved with the KR investment group, but Everly’s intentions are piqued.

Nam Woon-myeong asked Yun Se-bin’s opinion with a nod.

Yoon Se-bin nodded slightly.

“Okay. Where should I see it?”

[You know that old hotel bar?]

“HY Emerald Hotel?”

[Yes, there. See you at 10pm.]

It was quite late. Nam Woon Myung readily accepted, insisting that he had no more time than that.

“great.”

[I’m looking forward to tomorrow.]

I don’t know what to expect, but I hung up the phone.

Yoon Se-bin asked a strange question.

“Are you close with Avery?”

“Do you have any close relationships? I’ve only met you once or twice.”

“But why did you call only Mr. Unmyeong in these times?”

“I’m curious too. I agreed to the meeting because I wanted to know what was going on between Bukseong Life and Bukseong Chemical Energy.”

“Go and learn more.”

Yoon Se-bin’s gaze returned to the monitor.

Bukseong Life Insurance has accumulated a lower limit balance. It is a situation that is absolutely impossible to resolve today. It is likely that it will hit the lower limit for several days.

Yesterday, there was that much upper limit remaining. It’s amazing how people change their minds.

On the other hand, Bukseong Chemical Energy had accumulated stocks at the upper limit.

* * *

Nam Woon-myung arrived at the HY Emerald Hotel.

Nam Woon-myung, who entered the hotel right away, looked for Everly.

It was 10 o’clock, but there was no sign of Avery.

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As I was taking my seat with the intention of waiting, I saw an unexpected person. It was Chairman Hyeonjae Seop.

With the Bukseong Group’s civil war and the invasion of external forces, you’re leisurely drinking here?

It was a moment of passing by while acknowledging that it might be true when he is noisy inside, even though it didn’t seem to fit with his usual current self.

“Director Nam!”

Hyunjae Seop called.

“Hello, Chairman.”

Nam Woon-myung looked at the table as he greeted them. There was liquor and side dishes laid out.

Hyunjae Seop glanced at him and asked.

“Who have you come to see?”

Do you mind if I tell you? I quickly stopped worrying and made a quick decision.

“This is Avery Grant.”

“Same as me. Sit down.”

Did Hyeonjae-seop come to see Everly? That means that Everly called him and Hyeonjae-seop at the same time.

This is the moment when you become more curious about her true intentions.

Nam Woon-myeong sat across from Hyeon Jae-seop.

“Is this your first time drinking?”

“Yes.”

“Let’s have a drink.”

Hyunjae Seop handed over the liquor.

As we were clinking glasses and savoring the taste, Everly appeared.

“Oh my? You two have already started? Can’t you stand it?”

Evelyn sat down next to him, smiling.

Thanks to that, it seemed like he and Everly were on the same side.

Everly, who received the glass, responded with a smile.

“Did you get your present? There was a fireworks show at Bukseong Life Insurance a few days ago.”

Nam Yun-myeong had a brilliant idea.

“Was it you who brought in the Wonder Fund?”

“It was a gift, but I guess it wasn’t very fun?”

As expected, the short squeeze of Wonder Fund was Everley’s scheme. I was curious about how Everley had managed to attract Wonder Fund, but I didn’t bother asking. If he wanted to brag, he would confess on his own.

“I enjoyed the view.”

“You didn’t get any profit? If it were Director Nam, he would have seen through the situation and made a profit.”

“I’m not that capable.”

In fact, I made a profit when it went up, and I also made a profit when it hit a high and went down. Since I am still short selling, if it goes down to the lower limit for a few days, the profit will be even more abundant.

But there’s no reason to tell her everything.

“Hmm, that’s disappointing. What about the current president?”

Everly’s gaze turned to Hyunjae Seop.

Hyun-Seop glared at the two people with an angry gaze.

“Miss Grant! Are Bukseong Life and Bukseong Chemical Energy your creations? Did you two conspire to deceive me?”

There was anger in his voice.

Nam Yun-myeong quickly waved his hand.

“I’m not on the same side as Everly, so don’t lump me in with him.”

Hyunjae Seop looked like he didn’t believe it.

Anyway, there is no problem with the trend.

“What on earth do you want to do? Didn’t you say you’d help me?”

“I helped you as I told you. I acquired the stocks you requested and sent you the funds… Was there anything I didn’t do?”

Hyun-Seop, who was speechless at Everly’s confident answer, started to tremble.

“I thought the KR investment group was hiding their teeth…….”

“I could raise my hand if a shareholders’ meeting was held… but unfortunately, it looks like there will be no shareholders’ meeting.”

“You dare hit me in the back of the head? You’re diverting my attention to Bukseong Life.”

“I didn’t mention Bukseong Life. You chose Bukseong Life and I was the one providing the funds.”

“Then why Bukseong Chemical Energy?”

In many ways, Evelyn is an amazing woman. The two are allies, yet not allies.

KR Investment Group had been targeting Bukseong Chemical Energy from the beginning. Only Hyun-Seop Hyeon was unaware of the fact.

“If you look back on the past, you will understand what I mean. Anyway, Bukseong Life is not the problem right now. Oh! Is it related? If the stock price hits the lower limit for a few days, the loss increases uncontrollably. Are you bitten?”

Everly looked at Nam Woon Myung.

Nam Woon-myung answered with a sly smile.

Surely, Everly is a dangerous person.

Hyunjae Seop asked again.

“Are you really going to acquire and merge Bukseong Chemical Energy?”

“I’ve had my heart set on the company from the beginning. I’ve never changed my mind.”

“Do you think that’s possible? Bukseong Chemical Energy has a strong management structure.”

Everly smiled and poured himself a drink.

“Is that so? The Chairman entrusted the stocks of Bukseong Chemical Energy he owned to KR Investment Group? Did you happen to see the contract properly?”

Hyunjae Seop’s body trembled.

The shares in the Bukseong Group that he owned were provided with collateral and call options to Korea Bank, Korea Asset Management, and KR Investment Group.

There is a difference. He provided it as collateral for a loan to Korea Bank. As long as he pays the interest properly and repays it on time, Korea Bank has no rights to the shares. The dividends on the shares also go to him. The right to exercise the shares is also his.

On the other hand, the shares entrusted to Korea Asset Management or KR Investment Group are different.

These shares are technically sold. He only holds a call option to buy them back within five years. Dividends go to the private equity fund.

The reason this contract was established is because of the special nature of private equity funds.

The private equity fund also takes the profits from stock price increases, but there is no interest.

In the transaction with Korea Asset Management, it was stated that this stake cannot be sold to a third party.

There is no such clause in the contract signed with KR Investment Group. It can be sold to a third party and the call option is automatically transferred.

The most important stake-exercising rights belong to private equity funds.

However, it was stated that exercising shares against the group’s wishes would be prohibited just in case.

The reason why KR Investment Group showed its teeth is the problem of interpretation of this clause.

It was because I was too impatient and believed too much that I was unable to clearly limit it.

“KR Investment Group is acting against business ethics.”

“You sold us 10% of Bukseong Chemical Energy. Do you think you can protect Bukseong Chemical Energy without that 10%?”

I’ve never calculated it.

If that 10% disappears, it will be confusing who the major shareholder is. The stakes of not only the owner’s family but also external forces are intricately intertwined. If a merger or consolidation occurs, no one knows who will have the upper hand.

Dark clouds filled Hyeonjae Seop’s face.

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