＜ Miracle Investor 15 ＞
#
“Oh, should I call you professor? No. How should I call you in the future?”
More at noblemtl com
Vice Chairman Kim Hye-kyung was a bit perplexed and asked that question, and Hyun-jun smiled and answered the question.
“I am a professor for the time being. But you can call it that only until this August.”
“yes? How about until August? And after that?”
Hyunjoon smiled again.
“Then you will be out of the teaching profession. In particular, after completing the takeover process of Sangmoon Group, I plan to directly oversee the entire group from September.”
Are you in charge of the whole group?
Just like that, Vice Chairman Kim Hye-kyung’s eyes were sparkling at Hyun-jun’s calm yet slightly powerful voice.
“Then, can I call you Professor now?”
“yes. You can do that.”
“ah! Anyway, nice to meet you. First of all, thank you very much for thinking well of us [Shinyoung Pharmaceutical].”
That’s how the introduction started.
Then, after a while, some practical stories came and went.
But in the midst of that, some unexpected variables came into being.
Shinyoung Group sells [Shinyoung Pharmaceutical] but sells it with a premium for management rights, so the actual sale price is set quite high.
Previously, CEO Dennis Kim predicted that the acquisition price of [Shinyoung Pharm] would be around 700 billion won or 800 billion won.
However, Vice Chairman Kim Hye-kyung secretly leaked the words of 1.2 trillion won.
In other words, since there was a premium for management rights, he said that he would have to pay that much to sell.
So Hyun-Jun frowned slightly and looked at CEO Dennis Kim.
Representative Dennis Kim was already frowning.
In other words, he was talking too hard about the sale price, and he looked like he couldn’t admit to inflating the price so much.
So, after hearing CEO Dennis Kim’s whisper, Hyun-joon opened his mouth a little coldly.
“Vice President! The cost of 1.2 trillion won for a 42% stake is too much, isn’t it?”
Then Vice Chairman Kim Hye-kyung immediately protested that it was not.
“no. It’s not like that. professor! You did not accurately estimate the value of our company. I’ll give you our data again, but if you look at it, you’ll see that our company’s value has been undervalued. If you look at the data, you would never say that.”
As such, Vice Chairman Kim Hye-kyung speaks very conclusively.
He had a look in his eyes full of conviction.
However, Hyeon-jun could never take that word at face value.
Of course, Hyun-jun also admits that the company’s value is undervalued.
However, he is in a buying position, not a selling position.
It’s just my position to buy at the lowest possible price.
So Hyun-jun had no choice but to talk about the weakness of [Shinyoung Pharmaceutical].
Recently, as new drug clinical trials failed one after another, the stock price is on a downward trend. Isn’t that the dark side of [Shinyoung Pharm]?
However, what can be called a reversal in this downtrend is that [Shinyoung Pharm]’s share price suddenly reversed upward following the announcement of the acquisition of [C&K Investment].
In the end, Vice Chairman Kim Hye-kyung set the value of [Shinyoung Pharm] very high, not on the basis of the past stock price, but on the current stock price, which is showing an upward trend.
So Hyun-joon opened his mouth again.
“…Well, the vice president’s words are valid in some respects. However, it’s so different from what we expected, so we’re a bit perplexed. Originally, we were eager to pursue the acquisition of [Shinyoung Pharm], so we formed a consortium with [Ilshin Pharm]. However, additional changes have also occurred along the way. Exactly, the acquisition of [Pungjin Pharmaceutical]! We’re paying a lot of attention to this right now. In particular, the share structure of [Rungjin Pharmaceutical] was very poor than I thought. [Sangmun Construction] also had some of those things. Surprisingly, [rubella medicine] seems a little easier. Because, currently, foreign organizations are actively seeking out proposals for equity negotiations with us. In the end, if such negotiations were concluded well, it would be possible to acquire [Rungjin Pharmaceutical] very easily. In fact, we don’t necessarily have a need to acquire two pharmaceutical companies of similar size at once. Of course, if that’s possible, it’s a really good situation for us too. It is because we can leap to become the best pharmaceutical group in Korea at once.”
Then, Vice Chairman Kim Hye-kyung frowned slightly.
When Hyun-jun did not come over easily, Vice Chairman Kim Hye-kyung was a little angry.
In particular, when Hyun-joon showed a strange nuance related to the withdrawal of the acquisition of [Shinyoung Pharmaceutical], his expression became more chilly.
However, even so, Vice Chairman Kim Hye-kyung seemed unable to express such feelings at face value.
Anyway, Vice Chairman Kim Hye-kyung is not in a buying position, but in a selling position. Well, if the mutual interests do not match, the transaction will not be concluded. Nevertheless, isn’t it the seller’s position to entice the buyer to sell at a higher price?
So Vice Chairman Kim Hye-kyung forcibly maintained a gentle expression and continued to explain this and that.
However, Hyeon-jun’s ears did not hear such explanations well.
So Hyun-joon spoke again.
“Even though, at this point in time, isn’t there something we can agree on here? However, I think it is necessary to clear up some misunderstandings on both sides. So, if I tell you in advance, the current acquisition fund we think is about 700 billion won. With that at the maximum, we plan to hold future meetings.”
Like that, Hyeon-jun makes a sudden announcement.
However, isn’t this a level of funding that is less than 60% of the 1.2 trillion won proposed by Vice Chairman Kim Hye-kyung?
As a result, Vice Chairman Kim Hye-kyung’s expression immediately hardened.
It was as if the laughter suddenly disappeared.
And that emotional change was clearly revealed on her face…
However, Hyeon-jun pretended not to know and ended the meeting that day.
From then on, I watched the movements of Vice Chairman Kim Hye-kyung for a while.
However, after that day, no additional meetings were scheduled, so Hyun-jun secretly leaked rumors about the possibility of withdrawing the acquisition of [Shinyoung Pharmaceutical] a few days later.
In other words, that kind of information was leaked to the chirashi side.
In fact, in the process of such mergers and acquisitions, it may be very effective to use this kind of chirashi rather than direct press announcements.
In fact, when this kind of trivia information circulated on the market, real confusion occurred from then on.
This situation was immediately reflected in the intraday share price of [Shinyoung Pharm].
In other words, if the large material of mergers and acquisitions suddenly disappears, there is no choice but to create a big stir.
In fact, the stock price of [Shinyoung Pharm] recorded a huge decline of 12% at the end of the day.
Surprised shareholders couldn’t help but burst out loud.
But that wasn’t the end.
Recently, serious investment damage suffered by [Shinyoung Asset Management].
So, if [Shinyoung Asset Management] could not sell its stake in [Shinyoung Pharmaceutical] in a hurry, the actual damage to [Shinyoung Asset Management] would inevitably grow like a snowdrift.
In fact, [Shinyoung Asset Management], which showed a negative 5.4% share price the previous day, also suffered a significant drop in the negative 12.6% level right before the market closed on Tuesday, June 11th.
In addition, Shinyoung Group’s position was greatly shaken as the stock prices of each affiliate continued to go negative.
Perhaps, it has become such a situation that it can be pushed out of the top 20 by market cap.
On the other hand, in the meantime, the stock price of Sangmoon Group continued to rise day by day, and was completely in contrast to Shinyoung Group.
And time passed, and on the morning of Friday, June 14th, when the heat was intensifying.
Shinyoung Department Store Vice President Kim Hye-kyung hurriedly contacted me.
A call to immediately schedule the next meeting.
On the other hand, on this day, Hyun-joon heard the news that K-Ilbo reporter Tak Sang-jin (who kept refusing to attend the police) was suddenly arrested by the police after an arrest warrant was issued.
Also, in the afternoon, I met President Kang Kyung-moon in person, and finally agreed that the 3% stake that was supposed to be invested in [Farm Blockbuster Inc] would not be invested in the future. It is because Hyun-joon has decided to quit his professorship, so there is no reason to hand over such a stake to President Kang Kyung-moon.
And finally, on the evening of Saturday, June 15th.
Hyun-jun met Shinyoung Group Vice Chairman Kim Hye-kyung again.
#
“…Then, by any chance, do you have any other opinions?”
Meanwhile, while the second meeting was in progress, Hyun-Jun carefully asked.
More at noblemtl com
Vice Chairman Kim Hye-kyung seemed to be trying very hard to brighten the atmosphere with a forced smile.
“Ho Ho. professor. First of all, we are willing to lower the sale price to 1 trillion won.”
As such, Vice Chairman Kim Hye-kyung said as if he was conceding.
However, it is still a disproportionately high amount, falling short of expectations.
Hyunjoon shook his head.
The difference in the amount each wanted was so great that there was no need to hold a real negotiation meeting in the future.
As the situation did not go well, Vice Chairman Kim Hye-kyung was stepping back.
In other words, the detailed acquisition negotiations will be entrusted to Kang Seok-hee, president of the group’s strategy office.
It meant that if a negotiation proposal came up after meeting with the working-level team a little more, he would make the final decision at that time.
“yes! good. Vice President. In fact, the takeover negotiation itself can take several months at the shortest and a year or more at the longest, so there is no reason to get exhausted already. However, we have no choice but to focus more on [Rubjin]. And today, thank you very much for providing such a good place again.”
After saying it politely, Hyun-joon was going to stand up with CEO Dennis Kim immediately.
Then, Vice Chairman Kim Hye-kyung, who was serious, immediately stopped Hyun-joon.
“Wait. professor! I think you misunderstood my opinion. We don’t have that much time. [Shinyoung Asset Management] also needs an emergency fund transfusion. I also have to open up some new businesses. This is not the kind of situation where we can have such a lengthy takeover negotiation.”
But why would a person in such a hurry keep trying to pull himself back? But Hyeon-joon didn’t let go easily this time either.
“I’m sorry, but it’s not easy for us to acquire two large pharmaceutical companies at once. Moreover, since the [Sangmun Construction] temporary shareholders’ meeting is scheduled to be held soon, we have to prepare for it. There are many things like this, so we are also very perplexed. I wonder if I made too much of a big deal for no reason, and in fact, I blame myself these days. Also, I am rather sorry that I have caused the vice-president to worry for nothing because of me.”
On the other hand, Hyeon-joon said that and revealed that the [Shinyoung Pharm] takeover plan was not urgent, but that he would postpone it to the next [Pungjin Pharm] case.
Then, Vice Chairman Kim Hye-kyung looked even more impatient.
As such, Hyun-jun was continuing to burn Vice Chairman Kim Hye-kyung’s soy sauce.
