Chapter 364 - Rat Swallowing an Elephant!
Chapter 364 Rat Swallowing an Elephant!
“Then we’ll consider it 1.5 million!”
Ye Lingchen stopped in his tracks and considered for a moment before looking at Ouyang Qing. “How much shares are you confident in purchasing?”
“These people are already on edge. I’m confident in purchasing over 30 percent!” Ouyang Qing claimed, “Together with the 30 percent we’re passing over to you, you’ll have 60 percent of the shares.”
60 percent of the company’s shares would ensure Ye Lingchen’s position as the major shareholder, giving him the right to decide on Wanrong Automobile Group’s fate.
Ouyang Qing was unresigned, but there was nothing she could do. Compared to that, Wanrong Group’s downfall was a fate she hated more.
“Mr. Ye Lingchen, I hope that you’ll treat Wanrong Group well.” Ouyang Qing stated while looking at Ye Lingchen.
“Hehe, relax. Once Wanrong Automobile Group becomes my company, it’ll naturally be different from before.” Ye Lingchen laughed. His tone was filled with confidence. “By then, autonomous vehicle technology would only be the beginning.”
He already had plans to form a technological company. Wanrong Group’s foundations were sturdy. Given such a chance, he would be stupid not to purchase it.
“Try your best to buy over all the shares from the other shareholders!” Ye Lingchen’s eyes glowed as he looked at Ouyang Qing. “When you go back, do as I tell you to…”
It was Sunday, a very ordinary weekend. However, news regarding Wanrong Automobile Group was still all over the place. At that moment, all sorts of negative news came one after another. Within those two short days, Wanrong Automobile Group suffered an estimated loss of over 100 million!
Naturally, the 100 million was not actual assets, but instead a sum of their reputation, canceled contracts, and other legal fees added together.
All in all, Wanrong Automobile Group’s losses could only be described as disastrous. For a megacorporation, they immediately sunk to a third-rate company, with the dangers of dissolution hovering over them.
However, even under such circumstances, an unbelievable piece of information that almost triggered the entire internet was leaked.
On Y Cosmetics’ Weibo, they would occasionally educate people with some handy makeup tricks, and their monthly lucky draw was also carried out on Weibo, leading to a massive following, thus making them a VIP on Weibo.
On that day, a lot of people habitually turned on Weibo, hoping to see Y Cosmetics’ updates. However, they were stunned after they logged onto Weibo, thinking that they had clicked on the wrong Weibo account. Leaving the page and entering again, they were stunned once more.
‘What’s the matter? Y Cosmetics’ Weibo announcement had a bug?’
The comments underneath it exploded with activity.
[F*ck! WTF! Y Cosmetics is planning to acquire Wanrong Automobile Group?!]
[Wait a minute! Let me sort this out. Y Cosmetics is a cosmetic store, right? Wanrong Automobile Group is in the automotive industry, right? How can an acquisition happen?!]
[Previous post you dumb*ss! If you have money, you can even buy over Mars.]
[This plot twist is beyond my expectations. My brain is feeling numb. What’s going on?]
[Us drama watchers don’t understand at all. I rate this move zero points.]
[Leaving aside the acquisition across a different industry, why are they purchasing a company that’s going under soon? Does Y Cosmetics have too much money?]
[Awesome! Seems to me like a rat just swallowed an elephant. This is just too amazing…]
…
Apart from those watching the drama, even other industries were stunned. A cosmetic store acquiring an automobile company. Not only was it unheard of, it was also unimaginable. That was definitely the weirdest thing that they had seen in this world.
Wanrong Automobile Group was already at the forefront of news reporting. With this piece of news, it gained even more popularity. During that time, news of it was everywhere!
Many reporters rushed to Wanrong Automobile Group’s headquarters to confirm the validity of this news. Some of them even went to Y Cosmetics for confirmation.
Y Cosmetics’ storefront was surrounded by people. Various reporters were boxing them in.
Zhang Yunxi looked helplessly at the situation, laughing bitterly in her heart.
When she heard from Ye Lingchen about his plan to acquire Wanrong Automobile Group, her reaction was similarly livid. However, she still had to listen to Ye Lingchen’s instructions. She already had a speech prepared.
“Miss Zhang Yunxi, is it true that your Y Cosmetics is planning to acquire Wanrong Automobile Group?”
“Absolutely! We’ve already achieved an understanding with the chairman of Wanrong Automobile Group!”
“Can I know what approach you’ll be using to carry out the acquisition? Is it through funding or some other methods?”
“That’s our trade secret. I can’t divulge.”
“Wanrong Automobile group is facing bankruptcy. What gives you the confidence to acquire it?”
“Wanrong Automobile Group has always been a symbol of our Chinese cars! I do not wish to have our country’s symbol fall just like that. Furthermore, although their autonomous vehicle technology was a failure, failure paves the path to success. The automotive technology they possess is still leading the rest of the world! I do not wish for its technology to be lost just like that as that would be a loss for our country!”
That reply immediately received the cheers of many from the crowd. Its reputation started to show signs of being cleared.
“How do you plan to grow Wanrong Automobile Group in the future?”
“In the future, Wanrong Automobile Group will be renamed as Wanrong Technology. It will be a subsidiary of Y Group. Our Y Cosmetics is similarly a subsidiary of Y Group.”
Y Group. That was the first time the term appeared in public. Many felt that this group was ambitious. If it could acquire an automotive company, would it continue to acquire other companies across various industries?
“Can we know who’s the big boss behind Y Group? Is he related to the other Ys all over the internet?”
“I have no comments!”
…
At the same time, Wanrong Automobile Group was similarly faced with a horde of reporters. However, they were all blocked outside the building. On the notice board outside the building, it had already confirmed the validity of Wanrong Automobile Group’s acquisition by Y Cosmetics.
Within the conference room, all the shareholders were seated together with their steeled expression.
“Chairman Xu, it’s only been one night. How did it turn out this way? Is it for real?” One of the shareholders could not hold back any longer.
Chairman Xu was calm and casually answered, “I’ve taken 18 percent out of 30 percent of my own shares, while Chairman Ouyang took out 12 percent from his 21 percent of shares. In total, we pass 30 percent of our shares to Y Cosmetics. That is to say, Y Cosmetics is now the biggest shareholder, making them the major shareholder of our company.”
His words agitated the other shareholders. They stood up one after another with a mixed expression of anger and sorrow showing on their faces.
“You’re letting a cosmetic store acquire our company? You’re just shoving our company into a fire pit! This is the end!”
“Chairman Xu, everyone here can see the situation our company is in. You’re being selfish here! You sold your shares for money. What about the rest of us?”
“That’s right! I told you yesterday that I want to sell my shares, but you kept quiet about it. Now you’re using such underhanded tactics! I don’t care, you must take over my shares!”
“A cosmetics store managed to be the major shareholder of our automotive company. This is a joke! Chairman Xu, I’m selling my shares! According to our company’s market value, I’m cashing out the three percent of my shares for 100 million!”