Water and Flames

Chapter

WAF CH27

by DewdropTL — A few days later, Zhao Hanqing reported back to Jing Hong on Saint Games' progress. Fanhai Group refused to commit to no future share increases. Meanwhile, the Saint Games board of directors found themselves completely powerless against the invasion of Qinghui Group—the "barbarians at the gate"—because Qinghui's offer was genuinely high, and the individual shareholders were quite eager to sell. Ultimately, after several rounds of negotiations, both sides adjusted the "no further share increases"…
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Chapter

WAF CH28

by DewdropTL — One day in late July, the due diligence process officially was settled. Fanhai's tender offer took effect, kicking off a month-long acquisition window. Because Saint Games' board of directors covertly advised major shareholders to retain their shares, and because Fanhai's offer price couldn't match those offering several-hundred-percent premiums, not many shareholders ultimately accepted the offer and sold their shares. By the time the tender offer expired, Fanhai held a total stake of 31%. As a…
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Chapter

WAF CH29

by DewdropTL — Just a few days after poaching Zhang Li, Qinghui and Zhou Chang caught Jing Hong's side completely off guard with another product. When it came to that specific product line, Fanhai and Qinghui had originally maintained a north-south divide—Qinghui dominated the north while Fanhai held sway over the south—living in peaceful coexistence for years. Recently, however, Qinghui Group achieved a breakthrough with its product technology. On the very night they rolled out the brand-new version, Zhou Chang…
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Chapter

WAF CH30

by DewdropTL — In late October, Fanhai Group issued another tender offer to Saint Games' shareholders at a price far higher than the previous one, this time with attached conditions: first, securing regulatory approvals from both countries, and second, acquiring at least a 50%+1 majority stake, ideally exceeding 90% to complete the privatization of Saint Games—under the laws of both countries, once a entity holds over 90% of shares, it has the right to initiate a squeeze-out and forcibly acquire all remaining…
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Chapter

WAF CH31

by DewdropTL — Shortly after, Fanhai received approval from all relevant regulatory bodies in both China and the UK and extended the offer period. At this point, the only remaining condition for the tender offer was "acquiring at least 50% + 1 share of the equity." Qinghui modified its tender offer, removing the discriminatory clauses directed against Fanhai. Immediately after, just when major media outlets universally believed Qinghui would emerge victorious based on price alone, Fanhai Group suddenly launched an…
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Chapter

WAF CH16

by DewdropTL — On the first day of the conference, besides delivering a speech at the main forum, Jing Hong also gave a speech at a sub-forum. Zhou Chang did much the same, except his sub-forum speech was substituted with a sub-forum panel discussion. In the evening, the conference organizers hosted a reception banquet. Jing Hong arrived a bit late, and quite a few people were already seated around several tables. Seeing Jing Hong from afar, the CEO of a certain company immediately stood up, flattering and…
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Chapter

WAF CH1

by DewdropTL — Fanhai Group Holdings Limited. The General Manager's Office. Jing Hong sat behind his executive desk, holding this week’s one-on-one meeting with Zhao Hanqing, the General Manager of Fanhai Group’s Investment Department. Jing Hong was thirty-two years old this year. His eyes were somewhat phoenix-like—slightly narrow and elongated, with smooth, subtly upturned corners and narrow double eyelids. His irises were somewhat light in color and positioned slightly high, their lower edges just…
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Chapter

WAF CH17

by DewdropTL — After resting for a night, early the next morning, Jing Hong suddenly felt a desire to wander around this historic town he had never visited before. Without having his assistants tag along, Jing Hong left the hotel alone. He had brought four or five people with him for the World Internet Conference this time, but the small town was actually quite large, with the scenic areas split into the West Grid (Xizha) and East Grid (Dongzha). Experiencing all of it would take at least a few hours, yet they were…
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Chapter

WAF CH2

by DewdropTL — Before long, the car pulled up in front of Jing Haiping’s villa. Jing Hong put away the two documents he had just finished reviewing, and the driver opened the door. Stepping out, Jing Hong said to the driver, "You can head back first." The driver asked, "Shall I leave the car with you, then?" "No need," Jing Hong said. "Drive it back. Just pick me up at Zhuxiang Qingyun tomorrow morning as usual." This meant he would return to his own home tonight—a flat of over 300 square meters located in…
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Chapter

WAF CH18

by DewdropTL — The second day of the World Internet Conference also passed quickly. On this day, when Jing Hong ran into Zhou Chang again, his demeanor was business as usual. Yet, when the two sat side by side listening to speeches at the main forum, Jing Hong would somehow inexplicably recall that moment they had turned their heads at the exact same time that morning—as if certain subtle emotions were still lingering within the ink landscape paintings of the art museum. At the time, Jing Hong hadn't called out a…
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