How a Catastrophic Necromancer Retired - How a Catastrophic Necromancer Retired chapter 98

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Kim Won-cheol’s foot fell off with a 37 percent approval rate.

What Kim Won-cheol chose to defend his management right was, of course, was a treasury stock buyback.

I said looking at the news article.

“Bugs has also started public buying.”

Kim Deok-bae nodded and said.

“Yes. They priced the same as ours.”

“75,000 won?”

“That’s right.”

“Then let’s add more.”

In general, several defenses exist when a hostile takeover is attempted.

Raising the acquisition cost by introducing various toxic clauses, or buying the stock of the other party who attempted a hostile merger or acquisition to face a head-to-head confrontation.

But the problem is that none of these methods work for Seron.

Considering the toxin clause, what you can do in Korea is to amend the employment contract to pay a large amount of compensation if the CEO is dismissed.

The way to buy the other side’s stock in reverse is to use a system in which the two companies cannot exercise their voting rights if they each own 10% of each other’s stock, but the problem is that Ceron is not listed.

In other words, Bugs wants to buy Ceron’s stock, but there is no way to buy it.

Therefore, all that is left for Bugs is a defensive strategy to secure as much stake as possible by publicly buying treasury stocks.

And, of course, the money consumed for the treasury stock purchase is…

I said with a smirk.

“That way, the surplus funds on the Bucks side will run out faster.”

It was the live ammunition he had piled up for competition with Formi.

Live ammunition saved by Bugs to cover the cost and deficit of introducing a robotic system.

Because of the hostile mergers and acquisitions, the live ammunition is being used up in the treasury stock repurchase.

That’s buying stocks that are much more expensive than their original value due to hostile mergers and acquisitions.

I don’t know, but I’ll probably cry.

That money is not set aside to be used for this kind of place.

“By the way, only ordinary shareholders are upset.”

Bugs’ stock is marching high due to the dispute over management rights between me and Kim Won-cheol.

Naturally, those who already owned Bugs would want this dispute to last longer.

So the stock price will keep going up.

“If I had known this would happen, I would have bought some Bugs stock and saved it. haha.”

At Kim Deok-bae’s words, I smiled and said.

“no. It’s a good thing I didn’t buy it. In case we sell it later, me and the vice president will not be able to dispose of it recklessly.”

At the most, he raises the price and persuades investors to bring him to the same side, but suddenly he gets used to everything and falls alone?

Naturally, Bugs’ stock price will plummet, and investors and general shareholders will severely criticize Seron’s move.

In the first place, this hostile takeover is not to make money by profiting from the stock price, but because the purpose is to continuously cause disputes over management, completely exhausting the basic strength of the Bugs, kneeling, and then conquering the Korean market.

“So you’re saying you’re going to keep holding the Bugs stock now?”

“Absolutely. I don’t swear by money. Besides, if I continue to threaten Kim Won-cheol, he won’t go out of his way.”

“Hmm.”

Kim Deok-bae, who had been thinking for a while, said.

“Then what would you do if the approval rate exceeded 50 percent and Kim Won-cheol was removed from the CEO position and took over the management?”

With that said, I shrugged my chin.

“Actually, that is the biggest concern. If you take over, you will have the first publicly traded, diversified company in Ceron.”

If you take over Bugs, the effect will be obvious.

It can take over the Korean market right away without the process of taking away Bugs’ market share.

Another problem is the low stake in Ceron.

I have raised my stake to 7% by taking a tender now, but even after all these disputes are over, Ceron’s stake in Bugs is unlikely to exceed 30% no matter how high it is.

The reason is simple.

Investors are not going to sell their stake easily.

And even if they sell their stake, the market capitalization of Bugs before the stock price surge was 35 trillion won, so tens of trillions of dollars are needed just to acquire the stake.

In other words, if you want to maintain your management right, you need to manage your friendly stake well.

From my point of view, having decided everything on my own and handled it arbitrarily, it was clear that it would be a very troublesome situation.

“I am still thinking about whether to just destroy the Bugs due to a dispute over management rights, or whether to take over and call it the 2nd Army of Formi.”

“Is there any reason why you want to keep 100% stake?”

“Hmm… to put it simply, do you want to spend my money the way I want?”

I have to bear the huge cost of rebuilding the Undead Legion.

“Then I think it’s right to just take over.”

Ohh?

“Why?”

“Even if the Bugs are acquired anyway, there is no choice but to become Formi’s second team. The reason is simple. Ceron has no choice but to work harder on Formi, which owns 100% of the stake. Then, Bugs’ market share will drop down very naturally. In other words, it is a problem that time will solve.”

that makes sense

“And if you don’t take over, the only way is to eventually destroy Bugs and then slowly absorb the concrete customers who are still at Bugs, so it’s not time consuming to make every acquisition or not, isn’t it? In that case, I think it’s much more efficient to just buy it and then spend the time.”

If you think about it, the Seron of today is a different entity from the Seron of the past.

Before that, the company was small and I was very sensitive to such things, but now that it is big enough to grow in size, it is better to look at it as a big country rather than worrying about only one stake in the company.

“I was a little overly obsessed with stakes. thank you That’s good advice.”

“It was nothing.”

“Then let’s move on the premise of taking over.”

“All right.”

“Anyway, the future plans have been roughly organized……”

I said with a bright smile.

“Kim Won-cheol is also activated, so shall we keep running?”

*

If Ceron raises the tender offer price, you will be able to keep up. Bugs will also raise the purchase price.

Thanks to that, the stock price of Bugs, which had been asking for 50,000 won, jumped 2.5 times to 130,000 won in an instant.

When the situation was around that time, people who had been waiting for a long time threw stocks saying they should sell before the dispute over management was over, and the stocks were bought faster thanks to that.

“Hey. The money just runs out.”

Naturally, the more stocks are released into the market, the steeper the rate of consumption of funds rises.

It took a whopping 2.5 trillion won to raise the stake from 7 percent to 10 percent.

But it doesn’t matter.

If I’m surprised like this, it’s because Kim Won-cheol is almost on the verge of passing out of breath.

“Is there any problem with financing?”

“Enough.”

In addition to Kim Won-cheol and Formi, who are taking on losses only with Bugs One Tool, Ceron continues to generate profits from many affiliates.

The basic size of Ceron is much larger, and even the profits are overwhelming. In the first place, the Bugs are not the opponent of Ceron in terms of financial power.

Anyway, when the situation came to this point, Kim Won-cheol started to get very desperate.

Kim Won-cheol is eager to secure a friendly stake by offering stock options and various benefits to major shareholders as bait.

Thanks to this, Kim Won-cheol’s friendship stake is still alive and well, but in return, Bugs continues to weaken.

You spend money on buybacks, and you have to pay back a small stake later because of the stock option promise.

“Hmm. Anyway, it’s difficult even if it’s broken too much.”

If Kim Won-cheol drives the Bugs too far, it’s a problem to fix it later.

“Should we shake the major shareholders on Kim Won-cheol’s side?”

In the end, the key is who the major shareholders favor.

Kim Won-cheol or Se-ron, no matter how wild they are, they can never exceed 50 percent of the stake on their own.

If so, you need a way to put pressure on the major shareholders at a time of moderate disruption and turn them to your side at any time.

But how?

Kim Won-cheol promises various visible benefits such as stock options, but the only thing I can show you is the future of Bugs, where the skeleton is introduced.

I pondered for a moment, then said with my eyes wide open.

“Well? Wait a minute.”

No matter how strong the support for Kim Won-cheol is, if Kim Won-cheol continuously destroys the Bucks to defend his management rights, no matter how friendly the major shareholder is, he will have no choice but to worry.

The reason why the majority shareholder supported Kim Won-cheol in the first place is that Kim Won-cheol’s Bugs believes that the stock price he owns is positive for the price rather than becoming Formi’s second tier.

Then, no matter how friendly you are, you are bound to be shaken.

“At this time, if I hold onto the leash of the major shareholders even slightly and shake it, won’t it come over immediately?”

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Moreover, I hesitated to take over because I was worried that I would not be able to control Bugs at will because of the stakes of the major shareholders.

But if I could hold onto the leash of such major shareholders, I would be able to control the Bugs more easily.

“I need a leash, a leash to control the major shareholders. The best way is…”

I said with my eyes shining.

“It’s a waste of money.”

*

“Tomorrow, another extraordinary general meeting.”

The president of Da-eun Industries said with a click of his tongue.

“Seron, jinxing, jinxing.”

Hostile mergers and acquisitions initiated by Seron.

As a result, Bugs suffered from internal and external foreign exchange.

All the funds that should have been invested to secure competitiveness went into treasury stock buybacks.

However, the reason why I still support Kim Won-cheol is because I think the best result for the Bugs is to overcome the alliance and use the monopoly barrier as a shield to build the two-strong structure of Formi and Bugs.

However, Chairman Da-eun was also slowly getting tired of Kim Won-cheol’s frenzy.

Bugs’ funds are running out, and I’m worried that Bugs is going to be completely ruined.

At that time, a phone call from Da-eun Industrial Chairman.

It was Kim Won-cheol.

“Yes, sir.”

– Chairman, tomorrow is an extraordinary general meeting.

“I know.”

-Seron These guys don’t know how to give up. haha.

Kim Won-cheol, who is going through a tougher time than anyone else, is trying to somehow keep his composure in front of the investor, the chairman.

– As long as the president and us are strong, management will not be taken away from us. haha. Can I trust you tomorrow?

A request to veto the dismissal of the CEO at the general meeting tomorrow.

Chairman Da-eun, who had been thinking for a while at those words, nodded and said.

“of course. Don’t worry.”

– It is reassuring to hear directly. Thank you, Chairman.

After the call, Chairman Da-eun said.

“For now, let’s keep pushing Kim Won-cheol.”

Although it is a bit of a concern, Da-eun, Industrial Chairman Da-eun, decided to support Kim Won-cheol as the Bugs are not going to collapse immediately.

“CEO Won-cheol Kim was 17%, and 7% were purchased through treasury stock. If you add 5 percent of Daeun Industry and a friendly stake to this… it will be rejected without any major surprises this time too.”

That’s when I decided to support Kim Won-cheol.

This time the call comes from an unknown number.

“Well? Who is it?”

Da-eun, chairman of the industry, answered the phone like that.

“hello?”

-Are you the president of Da-eun Industry?

“Okay, but who are you?”

-haha. Can’t you remember my voice?

At those words, an image of a person appeared in the head of Da-eun Industrial Chairman, who was groping for memory.

“Han… Chairman?”

The owner of the voice is Chairman Han Ji-hyuk.

-Five! You remember.

Da-eun, chairman of the industry, said with a firm expression.

“Did you contact me because of the main gun? I am sorry, but I intend to support CEO Won-cheol Kim.”

– Why?

“It is ideal for Bugs and Formy to divide the Korean market.”

– Even if the Bugs are falling apart like this?

“Instead, didn’t the president’s Seron group also spend a lot of money? This sluggish fight will one day come to an end.”

– Well. I have quite a bit of spare time. So, I was also investing in other places.

“different place?”

-Yes. Can you give me some sauce?

A cold sweat flows from the neck of Da-eun Industrial Chairman Da-eun, who heard the company name that came out of Han Ji-hyuk’s mouth.

“What, what?! What does that mean now!”

– No, because the company looks really promising. Anyway, I have something to say about that investment…

Han Ji-hyuk said with a smile.

-Are you ready to chat?

*

“Any problems?”

The executive nodded his head at the words of Won-cheol Kim, who attended the general meeting.

“Yes. We have confirmed that we have 24% of our own stake and 60% of the friendship, all of which have been confirmed.”

“great.”

At the first shareholder meeting, he was shocked when the approval rate came out at 37%, but after that, Kim Won-cheol, who managed a friendly major shareholder and bought back treasury stock, somehow defended 60%.

Therefore, I was confident that the agenda for dismissal of the CEO would be rejected without any major changes this time.

Then the door opened and, as usual, Han Ji-hyeok led the shareholders who were on his side and entered the general meeting room.

Kim Won-cheol looked at Han Ji-hyuk like that and said.

“It’s never been easy. Bucks is my company. It’s my company that I created.”

At that, the officer nodded and said.

“Yes. You don’t have to worry. Rest in peace, sir.”

The general meeting started with the moderator on the podium again.

Friendly investors argue why Kim Won-cheol should stay, and the opposing party shouts why Kim Won-cheol should be fired.

After the remarks ended, the voting began.

When all voting rights were exercised, Kim Won-cheol looked at the friendly major shareholders and said:

“This time we will win. Thank you for your support.”

The large shareholders nod their heads with smiles at those words.

However, at that time, I saw a few major shareholders with particularly firm expressions on their faces.

Among them, the expression of Chairman Da-eun, who has the largest stake, is particularly serious.

“Dae-eun Industrial Chairman? Are you okay?”

At Kim Won-cheol’s words, Da-eun Industrial Chairman turned away from his gaze and spoke in a low voice.

“I’m sorry.”

Kim Won-cheol said with a bewildered expression at that ominous remark.

“Yes? What is that all of a sudden…?”

Then the presenter said.

“All votes have been completed. The result is… uh…?”

The presenter looks confused.

Seeing this, Han Ji-hyuk’s shareholder said:

“Announce the results soon!”

Kim Won-cheol, who felt that something was going wrong, said to Da-eun Industrial Chairman.

“What the hell is going on? Are you sure you agree?”

Then Da-eun Industrial Chairman said with a bitter smile.

“There was no way.”

Kim Won-cheol, whose heart sank after the confirmation of the death of Da-eun Industrial Chairman.

“Didn’t you say that you would support me just yesterday?”

“It was. I definitely wanted to do that… Seron has been secretly buying Daeun Industrial stocks. Then yesterday, it exceeded 5 percent and became a subject of disclosure.”

“Yes?!”

“They say the word is for investment purposes… but in the end, it was nothing more than a threat to get out of this fight. sorry. Because of investment, I couldn’t bear to see the industry being disrupted like Bugs.”

“But so suddenly!”

The host, who was then prompted, finally spoke into the microphone.

“The dismissal of the CEO, the agenda item for this week’s general meeting, was finally approved with 54 percent approval.”

At those words, Kim Won-cheol sits down as if collapsed.

“Is it approved…?”

It was the moment when Won-cheol Kim, who had never stepped down from the CEO position since its inception, was forcibly taken down.

Then, Ji-hyuk Han approaches them with a smile.

“Dae-eun Industrial Chairman?”

“Yes.”

“thank you. Instead, as promised, Ceron will be the eternal ally of Chairman Daeun Industry, as long as Daeun Industry supports Seron.”

With those words, Kim Won-cheol understood everything now.

Seron secretly bought up to 5% of Daeun Industrial’s stock just as he did with Bugs.

I even talked to Da-eun, the president of the industry.

Like Bugs, Ceron may try hostile takeovers against Daeun Industries.

At the same time, he also put forward the condition that, if he was on the side of Ceron, he would unconditionally stand by the current chairman in case of a dispute over management rights similar to Bugs in Daeun Industry in the future as a major shareholder of Daeun Industry using the 5 percent stake he had already purchased.

In the end, the president of Da-eun Industries, who was concerned that it would spread to Da-eun Industry, his home base, accepted the condition, and Da-eun Industry and Seron became each other’s white knights.

Daeun Industrial, which supports Ceron with a stake in Bugs, and Ceron, who supports the current chairman with a stake in Daeun Industrial.

In order to secure a stake in Bugs, it is literally money itself to buy another stake in the company that holds the stake.

Kim Won-cheol sharpened his teeth and said.

“Hey, Han Ji-hyuk!”

“yes? Since when did you start talking to me?”

“This is too much! Doing this is too much!”

Then Han Ji-hyeok slowly approached Kim Won-cheol and said,

“Why is this, you were the first to argue.”

“What······?”

“Union. So, if I had competed fairly and fairly from the beginning, would I have done this far? But, thanks to that, I can easily eat in the Korean market, so I call it a phone call?”

“Ugh!”

Han Ji-hyuk tapped Kim Won-cheol on the shoulder and said.

“Anyway, you’ve worked hard. I’ll take good care of Bugs instead. Then go carefully, former CEO Yangban.”