Water and Flames

Chapter

WAF CH13

by DewdropTL — After that, Med-Ferry kept pressing Fanhai Group, asking whether they would match Qinghui’s offer and stating that Fanhai's current offer undervalued Med-Ferry. Following Jing Hong's instruction, Zhao Hanqing simply replied, "We'll think about it," "We're still considering it," and "We need a little more time." After stalling for a while, Jing Hong finally felt that the timing was just about right. Jing Hong asked President Shen of Goldman Sachs to act as a middleman, saying he wanted to arrange a…
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Chapter

WAF CH12

by DewdropTL — A few days later, quite suddenly, Fanhai modified its offer once again. This time, in addition to matching Qinghui's bid, Fanhai Group made a rather abnormal move—changing its conditional takeover bid into an unconditional takeover bid. Previously, Fanhai's offer contained a closing condition of "acquiring at least 50%+1 of the voting rights," which was also the usual form for takeover bids. For an acquirer seeking control, obtaining at least 50% of the voting rights was a must, because nominating a…
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Chapter

WAF CH11

by DewdropTL — Just as Jing Hong had anticipated, the progress of the Med-Ferry acquisition was indeed not smooth sailing. Fanhai and Qinghui revised their offers several times, raising the bidding price repeatedly. Then, just as Med-Ferry’s board of directors was gradually leaning toward Fanhai Group, Qinghui suddenly hiked their offer price by 12.5%. Med-Ferry was instantly stunned by the massive bid. Originally, because Fanhai had pledged "no split" and "no restructuring" while Qinghui had refused to do so,…
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Chapter

WAF CH10

by DewdropTL — After the Entrepreneurship and Innovation Competition, Kunpeng and Huawei began their integration. Even though they knew they had been tricked—Huawei's "AI Loans" project was actually just a vanity showcase—Fanhai still formally halted the research and development of AI Loans. Aside from this merger, however, everything went smoothly. As soon as Hong Xu joined Fanhai, he immediately began researching several difficult problems in the AI Healthcare projects, leaving Jing Hong full of…
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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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WAF CH13

WAF CH12

WAF CH11

WAF CH10

WAF CH1