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Chapter 363 - The Arising Issues That Surfaced During the Acquirement
Chapter 363 - The Arising Issues That Surfaced During the Acquirement
Chapter 363: The Arising Issues That Surfaced During the Acquirement
Translator: Atlas Studios Editor: Atlas Studios
The Xiao Family mainly managed businesses in the electronics and household appliances industry. Due to the gradual saturation of the household appliances market in recent years, the Xiao Family began shifting their focus onto the electronic science and technology field. However, that was not sufficient to satiate the Xiao Family’s massive appetite. Hence, they had set their sights on the luxury brands market.
Reason being, the luxury brands market was one that would never reach a saturation point. After all, most women loved luxury goods and could never have enough bags, shoes, and jewelry.
However, the Wen Family had a strong foundation and a rich experience in managing businesses in the luxury brands market. Regardless of how wealthy the Xiao Family may be, it’d be impossible for them to replace the Wen Family or affect their position in the market.
However, the Wen Family was not exactly a staple piece of the luxury goods market. After all, luxury cosmetics only made up 20% of their businesses.
Hence, the Xiao Family finally set their sights on the top cosmetic brand in the nation, Ai Shang Cosmetics.
It was already nine o’clock at night. Old Mr. Xiao was having a game of chess with his son Xiao Zhiyuan in the study. The two of them were having an intense battle, and neither of them was willing to give up.
“How is the acquirement of the Ai Shang Group going?” asked Old Mr. Xiao, who was already in his sixties. Apart from his gray hair, time seemed to have left no trace on his face at all. However, his eyes were full of wit and wisdom, gained after numerous years of hard work and experience.
Xiao Zhiyuan said, “The situation is rather optimistic for now. However, there are still some conflicts going on in the Ai Shang Group internal management. We currently hold 15% of the Ai Shang Group shares. Once we hold up to 30%, we’ll be able to start acquiring them forcefully.”
Old Mr. Xiao nodded and asked, “What’s going on with the Wen Family now?”
He sounded rather solemn, seemingly a little afraid of the Wen Family.
Xiao Zhiyuan smiled and said, “Father, didn’t you read the newspapers this afternoon? Wen Haowen made a fool out of himself and was thrown out of the Jiang Corporation office tower. The Wen Corporation stocks have plunged so drastically that they can’t even save themselves now.”
He initially thought that Wen Haowen was just overly ambitious for his own good, for he lacked substance and true abilities. Yet, not only was he easily manipulated, he was extremely dense and foolish as well. How capable can a man who gives others the chance to humiliate him possibly be? Xu Zhiyuan smirked in amusement.
Old Mr. Xiao looked up at him sternly and chided. “Zhiyuan, you’ve gone overboard this time. I’ve had my fair share of experience with that Old Mr. Wen. He’s very ruthless, cunning and shrewd. Most importantly, he makes the effort to take revenge where it’s due. He’s definitely going to get back at you guys for openly insulting Wen Haowen.”
Xiao Zhiyuan said nonchalantly, “Father, what are you worried about? Jiang Shaofeng was the one who did this, not me. It has nothing to do with our family. Even if Old Mr. Wen wants to take revenge, he’d exact it on the Jiang family. Besides... we shouldn’t be afraid of the Wen Family.”
Old Mr. Xiao said with a frown, “I shun Old Mr. Wen whenever I see him. I hope there won’t be unnecessary trouble when we acquire the Ai Shang Group.”
Xiao Zhiyuan nodded and said, “Father, don’t worry. The Xiao Family is definitely going to acquire the Ai Shang Group and delve into the luxury goods market. There won’t be any problems.”
At this moment, he heard footsteps coming from outside the study, after which someone knocked on the door. The door opened and in came a man clad in a black suit.
“Assistant Li, what’s the matter? Is there a problem with the acquirement of Ai Shang Group?” Xiao Zhiyuan asked with a sullen expression on his face. Assistant Li was in charge of acquiring Ai Shang Group, so something must have happened since he appeared rather anxious and eager. Xiao Zhiyuan could not help but recall his father’s words about Old Mr. Wen.
With a grave expression on his face, Assistant Li said, “Mr. Jiang, the Ai Shang Group stock prices are increasing tremendously. I suspect someone has bought more of Ai Shang Group stocks at a higher price. It could really affect the stock market. I’m guessing that that person holds 10% of Ai Shang Group’s shares now, just five percent lower than us.”
Flabbergasted, Xiao Zhiyuan asked, “How could that be? We’re working together with the Jiang family to acquire the Ai Shang Group. Who’d dare to intervene? Aren’t they afraid of incurring a major loss?”
Old Mr. Xiao’s face grew sullen and he ordered. “Look into it immediately and find out who the mastermind is.”
Xiao Zhiyuan immediately screeched. “Father, is there even a need to look into it? It must be the Wen Family that’s up to no good. They’re the ones hoping that the Xiao Family won’t delve into the luxury brands market. The Wen Family can’t possibly sit back and do nothing about the acquirement.”
Shaking his head, Old Mr. Xiao remarked, “Old Mr. Wen wouldn’t be this silly. After all, if the Wen Xiao Families are to have a stock war, it’ll affect the Wen Family’s stock prices adversely, making them suffer a huge loss.”
However, Xiao Zhiyuan was certain that it must be the Wen Family behind it all. “Father, don’t forget that just because Old Mr. Wen won’t commit such a mistake, it doesn’t mean that Wen Haowen won’t, too. Wen Haowen was thrown out of the Jiang Corporation office tower today and said that he’d definitely get back at us. He holds 15% of the Wen Corporation shares. Once he works with the other shareholders, they’d definitely be able to come up with this.”
Xiao Zhiyuan’s words made Old Mr. Xiao hesitate and think twice. He found that Xiao Zhiyuan indeed made sense. Considering the fact that Wen Haowen had been the CEO of the Wen Corporation for so many years, he’d definitely have a say in the management, regardless of how useless he may be. He’d definitely have a broad network of connections as well.”
“Father, we’re definitely going to acquire Ai Shang Group. The Wen Family is just trying to frighten us and show their authority. We mustn’t let them get what they want. We’re much more affluent than them, anyway.”
Old Mr. Xiao cautioned. “We’d better let Assistant Li find out who the person vying with us for the shares is before making a decision!”
Xiao Zhiyuan said, “Father, if we lose this opportunity, the acquirement of Ai Shang Group might just fail, and our plans to delve into the luxury brands market will fall through. We’ve put in lots of resources, money, and manpower into this project. We’re going to suffer a major loss if it fails.”
A frown creased Old Mr. Xiao’s forehead, for he was stuck in a dilemma.
Xiao Zhiyuan said, “If we miss this chance, the Wen Family is going to think that we’re afraid of them, making it even harder for us to step into the luxury goods market. Father, I’m sure you’re aware that the electronics market is becoming saturated, and we’d have to spend a long time on research before we can make a breakthrough. We’re lacking business now. The Wen Family will surpass us very quickly if we don’t dabble in other markets.”
Old Mr. Xiao had no choice but to concede. “In that case, we’ll do as you say!”