Chapter 393: A Terrifying Piece of News
The Gala Aluminum shareholders' meeting had concluded.
The event attracted a large crowd, filling the venue to capacity.
Every shareholder present wore an expression of eager anticipation, each face glowing with the happiness of impending financial reward.
During the voting process, shareholders enthusiastically cast their votes, each one overwhelmingly in favor of Rinto's acquisition offer.
Once the votes had been tallied, Richard approached Wiggins and the other board members, reporting calmly: "Every shareholder in attendance has voted in favor."
"All of them?"
"Yes, every single one. There wasn't even one vote against the merger," Richard confirmed.
"Something isn't right," Wiggins murmured suspiciously.
The others exchanged doubtful glances, clearly bewildered by such a unanimous result.
"Even Li Tang voted in favor?" someone voiced the lingering doubt shared by everyone.
Previously, the internal consensus had been unanimous: Li Tang's substantial 13.3% stake would certainly translate into a negative vote, opposing the acquisition.
To everyone's surprise, their earlier concerns now appeared groundless.
Every shareholder attending the meeting voted affirmatively, creating an atmosphere of unusual unanimity—almost eerily so.
"Li Tang didn't personally attend the shareholders' meeting, nor did he send any representatives. We've checked the attendance logs and found no records from Li Tang's investment companies," Richard reported truthfully, acknowledging their confusion.
"He didn't come?"
"Indeed, he didn't. Additionally, Li Tang has yet to cast a vote via phone or online."
"What's going on with Li Tang? With such a significant stake, he didn't even bother attending the shareholders' meeting?"
"He probably realized he couldn't prevent the merger or gain anything from it, so he stopped resisting."
"He clearly overestimated himself—his investment in our Gala Aluminum was ill-intentioned from the start. It was destined to fail!"
"Either way, from our perspective, things are turning out better than expected. In fact, incredibly smoothly."
The management and board members were well aware of the complex internal issues plaguing Gala Aluminum, knowing that solutions wouldn't come easily.
Despite Gala Aluminum's reputation as one of the top three global aluminum giants, it was more of an empty shell.
Internally, hidden troubles were constantly surfacing, exacerbating the company's financial instability.
Richard and his management team repeatedly assured everyone that, given enough time, they could thoroughly resolve Gala Aluminum's internal problems and achieve future growth.
Yet, despite their promises, board members holding shares were skeptical.
Ever since Magnesium Aluminum's repeated acquisition attempts—each subsequently rejected—some shareholders predicted Gala Aluminum's troubles would worsen, causing share prices to plummet further.
Consequently, for a period, Gala Aluminum's shares experienced a sell-off wave.
Had Magnesium Aluminum not persisted in their two-year-long pursuit, preserving the possibility of a buyout and thus gradually driving Gala Aluminum's shares upward—even surpassing historic highs—things would've been much worse.
Nevertheless, the board members present knew better than anyone the real value of Gala Aluminum's stock.
Certainly, it wasn't as valuable as current market prices implied!
Take Sankei Bussan, for instance: previously holding a substantial 5% stake and a seat on the board, they saw trouble brewing and decisively sold off their shares to Li Tang, inadvertently creating complications for the acquisition.
They simply saw no other choice, understanding Gala Aluminum's internal chaos and challenges. Conveniently, Rinto appeared with ample cash, willing to offer a high premium—making this acquisition an ideal match.
Selling their shares at this opportune moment for cash became the wisest decision.
However, Li Tang unexpectedly intervened, arrogantly threatening to influence or even derail the acquisition.
As self-proclaimed masters of Gala Aluminum, the board members found Li Tang's attitude intolerable, inciting their rage.
Yet, now Li Tang appeared subdued, seemingly no longer capable of causing trouble.
The merger now appeared unstoppable!
All those whose personal interests were tied to the deal were naturally delighted.
Amidst this joyful atmosphere, Richard shared disappointing news: "According to our investigation of shareholder structure changes, Li Tang's investment companies now control 14.4% of Gala Aluminum's shares!"
"What did you say?" someone jumped up instantly.
"Li Tang's holdings have surpassed the 14% threshold!" Richard reluctantly revealed, igniting fury among board members.
Even though Richard bore no direct responsibility, he knew he'd inevitably provoke the board's anger.
"How did this happen?" Panic appeared on some faces.
"This seems impossible! It means Li Tang acquired an additional 1.1% in a very short period!"
"Who betrayed us?"
"There's a traitor among us!"
"Signs were there all along! Li Tang previously knew Rinto's offer price beforehand, clearly proving we have leaks within our board!"
"Whoever it is, step forward!"
Suspicion and anger filled the room, eyes meeting in mutual distrust.
If it weren't for restrained etiquette, some board members might've physically lashed out at suspects already.
Once their outrage subsided slightly, Richard calmly explained: "The issue wasn't internal betrayal. A sovereign wealth fund holding 1.1% of shares completed the deal with Li Tang shortly before the public announcement."
"This is outrageous!"
"They made a decision without informing the board—this sovereign fund is unreasonable!"
"I told you the board had no issues. Obviously, someone else's greed betrayed us all."
"Now things are dire."
"If Li Tang votes against, the acquisition will fail!"
Gala Aluminum's corporate charter stipulated clearly: a 14% opposing vote could veto major corporate actions.
Li Tang clearly held that veto power.
For Gala Aluminum and every shareholder, he controlled their fate!
Richard observed the distressed board members with a hidden satisfaction.
If Li Tang vetoed Rinto's bid, effectively ending this historic merger, it might actually benefit Richard personally.
The termination would keep him as Gala Aluminum's CEO, free to pursue his own vision.
"We've already tried contacting Li Tang, hoping to understand his voting intentions and his underlying motives," Richard said.
Despite secretly enjoying the chaos, Richard felt responsible for the board and shareholders' interests. Thus, he maintained a supportive stance toward them publicly.
"Did you reach him? What did he say?" someone urgently inquired.
"We couldn't contact Li Tang directly, but we spoke to Alice, his closest assistant," Richard responded.
"What did she say?"
"She claimed ignorance of Li Tang's plans, stating she merely executes his instructions."
"Isn't that obvious nonsense?"
"Not entirely," Richard reasoned calmly. "At least it indicates Li Tang definitely has a plan or ulterior motives."
Wiggins finally broke the heavy silence, sighing deeply, "We must prepare for any eventualities. Clearly, Li Tang isn't an easy opponent. His investment in Gala Aluminum was questionable from the start."
"I think Li Tang will surely vote against us!"
"If he does, and the merger collapses, then what?"
"What else? We're all trapped!"
"If Rinto withdraws its offer in anger, no other company will offer such a premium."
"The longer this drags on, the worse it'll get. A falling stock price would trigger a chain reaction!"
"If that happens, we could still live with it. Before Rinto's bid, we had rejected Magnesium Aluminum repeatedly, determined not to surrender Gala Aluminum's control. Keeping the company might yield higher future gains as aluminum prices continue rising!"
"Are you sure future share prices will ever surpass 101 magnesium dollars?"
Everyone fell silent again.
Clearly, a 101-dollar price was far too tempting—more alluring even than a beautiful body.
"We can't let Li Tang vote against us!" Wiggins insisted fiercely, though clearly uncertain.
What legitimate grounds did they have to pressure Li Tang's voting decision?
"How can we ensure Li Tang makes a choice favorable to everyone?"
"We're powerless against Li Tang!"
"We must first contact him."
"He wouldn't irrationally ruin everything just to oppose this merger."
"Exactly! Li Tang is Gala Aluminum's largest shareholder—he stands to lose most if this merger fails."
"Having leveraged nearly four billion magnesium dollars, he's most vulnerable if share prices plunge."
"He has obvious weaknesses!"
"At worst, we both lose. At least our losses are smaller, keeping the shares as usual. If we manage the company well, share values will eventually rise!"
"But are you genuinely willing to let this merger fall through?"
They were deeply conflicted, unsure how to proceed.
"I'll continue attempting to reach Li Tang," Richard offered, limited in power and dependent on shareholders' decisions.
Richard hoped, "Perhaps Li Tang delayed voting intentionally, hoping to communicate with us or Rinto. If correct, contact will soon occur."
"We must inform Rinto immediately and respond to potential disruptions together!"
When Alba, Erik, and other Rinto executives received Gala Aluminum's disturbing message, they were celebrating jubilantly.
Amidst the festive atmosphere, Alba discreetly gathered his key executives, announcing grimly, "Li Tang holds 14.4% and hasn't voted yet."
Previously, they'd heard all attending Gala Aluminum shareholders unanimously approved the merger—hence the ongoing celebration.
Now, this sudden negative news spoiled everything.
"Didn't Li Tang's attitude become irrelevant?" Erik asked, puzzled.
"I have no idea," Alba confessed, feeling anxious and confused. Imagining Gala Aluminum slipping from his grasp due to Li Tang's meddling frustrated him deeply.
Still, negotiations remained possible.
"The crucial question now is: what exactly does Li Tang want?"
"Indeed," Alba nodded gravely, concluding urgently, "We must meet Li Tang personally, convincing him to accept our offer rather than acting against everyone's interests. If the merger fails, we lose control of Gala Aluminum, but financially we'll survive. Li Tang, however, would suffer massively—we must clearly remind him of that and prevent any reckless actions!"
"Could Li Tang intentionally target us due to past conflicts?"
"It's certainly possible," Alba acknowledged. "His sudden large-scale investment into Gala Aluminum surely indicates hidden motives."
"Our railway system even transports his Lianying Mining iron ore! Targeting us would be dishonorable!"
"Maybe he's trying to squeeze more from us or Gala Aluminum."
Rinto and Gala Aluminum wanted harmonious cooperation, but Li Tang stood between them like a painful thorn.
Now they must remove that thorn immediately to ensure smooth collaboration.
"No more guessing. Contact Li Tang immediately!" Alba ordered firmly, though deeply troubled. Only direct communication could resolve uncertainties.
"Oh, Gala Aluminum mentioned Li Tang might be purposely ignoring us. If we still can't reach him, inform Freight immediately—if Li Tang continues avoiding us, we'll suspend iron ore shipments!"
Thank you for the support, friends. If you want to read more chapters in advance, go to my Patreon.
Read 40 Chapters In Advance: patreon.com/Johanssen