YM778.TV Chapter 909 - Samsung’s Crushing Defeat
Chapter 909: Samsung’s Crushing Defeat
After all, in everyone’s eyes, the person behind Samsung was Wall Street. Whatever it did, it should have received Wall Street’s approval or... At least a tacit approval.
Therefore, no one had expected that the Poison Pill Plan would bypass the major shareholders of Wall Street and conduct its own board meeting!
Their goal was also to rely on the Poison Pill Plan to harm the interests of the existing shareholders and rely on the large capital of England.
As one of the five consortiums, with England backing them up, Samsung would not be in too much danger for the time being. They had to get through this crisis first and then ease the tension.
Lee Jaerong had a good plan, but... Wall Street did not know that!
After learning that Samsung had held a press conference and announced the Poison Pill Plan and the White Knight, Wall Street financial groups were furious!
Just like what was said before, Samsung had always been the exclusive property of the big banks and investment banks on Wall Street. They held a large amount of shares from Samsung, and most of these shares were split by profit.
Once Samsung increased their shares, their share share would decrease, and they would lose huge profits.
Samsung avoided them and directly hosted a board of directors meeting. They approved the proposal to increase the shares on the board of directors, which made them feel cheated.
Even though they had never interfered with the business of Samsung for so many years, they had a tacit understanding that no matter what happened, they had to inform each other and gain their support.
In the end, Samsung avoided them on such a big matter, which was unacceptable to them!
So, Wall Street put pressure directly on their state, asking their president to put pressure on Korea...
After Lee Jaerong had successfully created a huge gap between him and Wall Street, the ability of the destiny line had begun to show.
The next day, before the pressure on Wall Street reached Korea, Samsung announced their “White Knight”... An Oil Company in England, England Oil.
England Oil was one of the world’s largest private oil companies (one of the seven sisters of International Petroleum) and one of the world’s top 10 private companies, based in London, the UK. The company’s current asset market is about 200 billion USD. It has been reorganized by companies such as former England Oil, Indiana Standard Oil, ARCO and Castrol.
Although this was a private company, it had a very deep national background.
This was one of the reasons why Samsung chose them.
After announcing the identity of their White Knight, Samsung also announced their initial transaction agreement.
The company will issue 10 million shares at the price of 32,000 won per share, with a total value of 30 billion USD. The company will purchase three oil fields in Central Asia.
After this deal was completed, Samsung would establish a new subsidiary of the oil company to extract and sell oil.
England Oil will also hold 21.54 per% of the company and become the largest shareholder.
When this transaction proposal was published, the entire world was shocked!
‘What kind of fucking agreement is this!
‘Have the people of Samsung lost their brains to zombies?!
’30 billion USD for three oil fields, and then manipulated the price through stocks?!
‘How much market value is the entire England Oil worth?’
As for establishing a subsidiary and entering the oil industry, everyone was not stupid. They knew that this was an excuse!
‘As a technology company, you’re actually intending to dig for oil?
‘How about you go ahead and dig for gold instead?
‘Gold is at least a raw material in the electronics industry and has something to do with your country. Meanwhile, oil has nothing to do with you at all!’
Additionally, excluding all the complicated information, the essence of this deal was: England Oil used three oil fields to exchange for 21% of the shares of Samsung! They became the biggest shareholder!
‘Is Samsung that cheap?
‘Is it only worth three oil fields?
‘Do you take the entire world for fools?’
Everyone went crazy.
They felt as if they had been fooled by Samsung’s Prince.
Some netizens even posted a thread: ‘If only I had oil fields, I would definitely exchange them for Samsung. This way, regardless if it’s cars, cell phones, televisions, LCD screens, computers... I can use all the appliances for free.’
Even though this was just a joke, it was enough to show the common view of the world on this deal: Samsung was suffering a huge loss.
However, there was more than just money in the world. Samsung did not want money. At a certain level, the problem was much more complicated.
For example, the will of the current Samsung was actually the will of the Lees. Their goal was to maintain their status and control over the company.
When the major shareholders from Wall Street no longer supported him, making England Oil become the biggest shareholder of Samsung, then as long as Samsung received its support, it could maintain control over the Lees’s current management team.
However, these deeper reasons could not be announced.
Therefore, ever since the deal was announced, it had been criticized.
Meanwhile, the majority of the shareholders who held the shares of Samsung started to talk about it in the media. They believed that this was the worst deal the company had made since it was founded.
If Lee Kunhee could still stand up, he would probably jump off the bed and give his stupid son a tight slap.
Meanwhile, the stockholders who held the shares of Samsung also started to object and sell. After all, after Samsung increased their shares, the value of their shares would decrease by about 20%.
This would harm their interests.
This was the Poison Pill Plan. It was a strategy that hurt the enemy 1,000 times and hurt oneself 800 times.
At that moment, Su Yang was standing in the newly built industrial zone of Jiadian Group in Shanghai. He drank a cup of tea calmly and looked in Korea’s direction. “Destiny is really scary...”
Little Hus sat beside him. It raised its hind legs and scratched its head. Then, without looking up, it said, “Su Yang, look in the opposite direction. That’s the south. Korea is in the north.”
Su Yang turned around and sighed.
The sunlight shone on him, making him look like a god...
On October 7, the president of America pressured Korea that Samsung’s deal violated the rules of fair trade and sacrificed the interests of all shareholders. The chips of the deal were not equal and there was a suspicion of deliberately transferring interest to Korea to investigate.
The Poison Pill Plan originated in America, which promotes a “democratic” equity protection program.
Over the years, many companies had used similar plans, but America had never spoken.
Only when the Poison Pill Plan harmed the interests of its capitalists did it jump out to say that the plan was problematic.
It had to be said that he had the shameless aura of a veteran.
After all... It was targeted towards human rights!
Everyone understood.
After being pressured by America, Korea had no choice but to start the investigation process. However, because it involved Samsung, America, and England, one tycoon and two homeless people, all Korea could do was to stop this plan and not announce the results.
Korea’s idea was very simple. It was to let these big shots discuss it themselves. Once there was a result, they would write a seal on their own side and there would be a result.
In the end, the destiny of a small country was so sad.
After knowing that Wall Street was pressuring them, Samsung panicked. Lee Jaerong quickly flew to England to ask her allies to step in and negotiate the terms.
In the end, not long after he flew to England, he received a shocking piece of news. After researching this matter, England felt that this deal was of limited benefit to their country.
So, England Oil decided to stop the plan unilaterally.
When he heard the news, Lee Jaerong was stunned.
He did not expect that his ally, whom he had spent so much effort to convince, would give up on him just like that!
‘How am I going to face Su Yang’s attack and the wrath of Wall Street and America!’
At that moment, Su Yang, who had received the news earlier in Shanghai, finished the tea in his cup with a smile before bursting into laughter.
Because he knew that the destiny that he had seen had finally been realized!
Actually, Su Yang was a little surprised when he first saw the destiny line. There were too many coincidences on the line, and it was... Inevitable.
The first was that he really did not expect that Samsung could betray his’ father ‘and choose a new one.
After all, in the eyes of the public, America was the backing of Samsung. He was able to achieve what he had today because of the support of America.
It was able to do whatever it wanted in China, but it was difficult for Korea to restrict it because it had the support of America.
Therefore, no one would have thought that it would betray its financial backer.
But... On second thought, that seemed reasonable, too.
If one studied the history of the world carefully, they would realize that between countries, and between tycoons, it was mostly benefits that came first. If the fundamental interests were in conflict, it was very normal to change sides.
For example, during the Fourth Oil War, Egypt turned its back on their backers, the Soviet Union, and America.
It was the same for Samsung. If there was a huge conflict of interest, it could very well change a father. As long as this father could withstand the pressure of America, that would be enough.
They were all dogs anyway, so how could they be more noble than the Zhangs?
The second coincidence was that... Samsung’s new backer was the most unreliable country, England. Meanwhile, England was actually willing to accept it...
As one of the five biggest rogues in the world, the former empire on which the sun never sets, and the current twilight of the empire had already declined. Their influence in the world was gradually declining.
Therefore, slowly, they awakened the talent of being a troublemaker. No matter what happened in the world, it would intervene.
Sometimes, looking at what it did, one would realize that its logic was actually very simple. All these years, they had held the same attitude: I might not be able to earn it, but you have to lose something.
He was simply harming others without benefiting himself.
As a result, when Samsung surrendered, they would really accept it. After all, it would cause trouble for Korea, America, and even China. Even if England didn’t have any benefits, they were willing to come and play.
As for the fact that Samsung had chosen England, it was a coincidence and inevitable. There were only a few of the Five Great Rogues. If they chose China and Russia to fall out with America, then they would truly fall out.
Between England and France, they would definitely choose England. After all, England was weak, but France was weaker. On the other hand, England had a good relationship with America. It could be considered a hidden alliance, so they chose England to ease the impact of this betrayal.
That was why Samsung chose England, and England was willing to accept them in return. Hence, it was only logical for them to accept Samsung before abandoning them once again...
Therefore, the troublemaker had proven that they were troublemakers indeed. They could always come up with strange things, but find it extremely laughable after analyzing the situation.
In fact, Su Yang had not been idling around either. After all, if he had not lured Wall Street to his lineup step by step and pushed Samsung to the point where the core interests were affected, this series of events would not have happened.
In particular, even though Su Yang had a lot of shares in Samsung Electronics, he still released them step by step to force Samsung Electronics.
This looked like an economic war, but it was actually a psychological war.
After all, the key to this destiny was Lee Jaerong’s multiple choices. It was only after Su Yang forced him into a corner that he would make that ridiculous but predestined choice.
Su Yang had chosen destiny for Samsung, but he had also played his role well in it, adding fuel to the fire. This was the real way to use [Hands Of Destiny]...
On October 20, the board of directors decided to cancel the deal.
On October 21, Samsung N7’s production was suspended, and all N7 phones were upgraded,with the N7 placed on a permanent ban.
Thus, Samsung N7 had officially failed.
On October 22, Lee Jaerong resigned from the board of directors after being blamed for the N7 incident.
Samsung’s Prince was banished from the board of directors.
However, everyone knew that taking responsibility for the N7 incident was just an excuse. The real reason for his resignation was the Poison Pill Plan.
From then on, Su Yang, who was in battle against Samsung, ended up winning the most crucial battle.
The whole world’s attention was focused on Shanghai. They wanted to see what this young man who had just turned 20 years old was going to do next.