Chapter 177 Force Gong Gonghamer
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"I'm very happy that we have a lot of new faces on our board of directors!" When Sergey's relatives and friends joined the board of Occidental Petroleum Corporation, at the first regular board meeting after the shareholder adjustment, Amon Hammer happily greeted the new members present. As the founder of a large industrial group, Hammer has fought in the American market for many years and has rich contacts and relationships. And Hamer's greatest strength lies in his ability to deal with people. He was a close friend of Lenin, maintained good relations with every leader of the Soviet Union, including dissidents such as Stalin and Khrushchev, and in the United States, Hammer was often a frequent visitor to the White House. It can be said that Amon Hamer is one of the few characters in the world who can freely walk on both sides of the Iron Curtain. Even in China, which disagrees with the Soviet Union, Hamer also maintains a very good relationship with Chinese leaders. With the huge background of Western Petroleum Corporation and Hammer's social influence, even in the period when McCarthyism was prevalent (similar to WG in the United States), no one dared to provoke him.
For these powerful investors who suddenly joined the board of directors, Hammer is very happy from the bottom of his heart. Bank of Columbia has been making frequent moves in the market recently. Shareholders, Occidental Petroleum Corporation's financing can be more diversified. And Eva's personal investment fund also excited Hammer. This powerful woman is a recent rising news figure in the American business world and can be called the richest woman in the United States. Her investment shows that Occidental Petroleum is attractive enough. Monsanto is originally an old-fashioned agrochemical company. Their glyphosate and pesticides have always had a high market share in the United States. Occidental Petroleum also has its own chemical department. The two companies can complement each other in the chemical business. , This is of great benefit to Occidental Petroleum Corporation, but it is Mediterranean Shipping Company that makes Hamer most happy. Occidental Petroleum's oil fields are spread all over the Americas, Europe, and Africa, and even operates a coal business in Asia. Even a layman can see how important ocean shipping is to a multinational company.
"Mr. Hammer, you are an old-timer in the business world. We are very happy to join the big family of Occidental Petroleum. For the better development of Occidental Petroleum, we have brought a proposal and want to discuss it at this meeting Please give me some advice!" Mikhail, who attended the Occidental Petroleum Company's board meeting for the first time, said first, and then his secretary put the proposal in front of every director. But when Hamer saw the title of the proposal, he couldn't help feeling confused and angry.
"Proposal to Terminate the Acquisition of the Samotloor Oilfield" Seeing this title, the old members of the board of directors all looked at each other in blank dismay, unable to understand why Bank of Colombia did this.
"Representative of the Bank of Colombia, can you explain what is the reason for your proposal?" Yamon Hamermi had an immediate outburst, and he asked Mikhail calmly.
"Of course it is for Occidental Petroleum's own consideration. Our company's operating conditions are still very acceptable, but Occidental Petroleum's total assets are less than 20 billion U.S. dollars, and the funds required for the acquisition of the Samotloor Oilfield It is as high as 10 billion U.S. dollars, and this does not include the cost of later development and transformation of the Samotloor Oilfield.
If the board of directors approves this plan, Occidental Petroleum's debt will exceed 150% to 200%, and it will become an insolvent enterprise from a high-quality enterprise. As a director, I am obliged to advise everyone here to do what they can, and not to be greedy or greedy! "Mikhail said bluntly.
"Representative of Columbia Bank, what's your name?" Amon Hamer asked quickly.
"You can call me Mikhail!" Mikhail replied.
"Okay, Mikhail, do you know what level the Samotloor Oilfield is? It is the seventh largest oilfield in the world, and it is comparable to the Garhwar Oilfield in Saudi Arabia. Moreover, in terms of production, the Samotloor Oilfield even surpasses the Ghawal Oilfield. If we let this opportunity slip away from our hands, then we are giving up a major opportunity to become a world-class oil company!" Yamon Ha Mer explained to Mikhail.
Next, Hammer and Mikhail had a fierce confrontation over the acquisition of the Samotloor oil field, and no one could convince the other. Yamon Hammer kept emphasizing the importance of the Samotloor Oilfield to the future development of Occidental Petroleum, while Mikhail kept mentioning that the acquisition would cause serious trouble to Occidental Petroleum's financial situation. It is very likely that this company will be dragged into a long-term loss. Under the circumstances that no one could convince anyone, Amon Hammer resorted to the power of his own chairman. He asked all directors to vote on whether the proposal should be included in the agenda of the board of directors, and then Amon Hammer Mo was the first to satiate the objections. Many old shareholders of Occidental Petroleum followed Armon Hammer in expressing their opposition.
"I'm sorry, I don't want Occidental Petroleum Company to be insolvent when I first entered the game!" Eva immediately expressed her objection and took Mikhail's side.
"My client hopes that Occidental Petroleum can continue the strategy of safe operation in the past!" The representative of Mediterranean Shipping also expressed his objection to Amon Hammer.
"We, Monsanto, don't want Western Petroleum to adopt an overly aggressive business strategy. What's more, the acquisition target is located in the Soviet Union. The uncertainty is too great, so I'm sorry Mr. Hammer!" Karim also stood up and expressed his objection Hamer's takeover plan.
Under the successive defections of the newly entered shareholders, 47% of the shares stood on the side against Hammer. Immediately afterwards, KKR also announced that it would ask the board of directors to abandon the acquisition plan of the Samotloor oil field, because KKR participated in the The plan to attack Occidental Petroleum this time relies on high leverage for financing. Unless Occidental Petroleum is willing to use its own cash flow to fill the shortfall of KKR, KKR will suffer a big loss in this business, and KKR's main source of funds It is Columbia Bank, and they are rightfully on the side of Columbia Bank.
It was only then that Amon Hammer recalled that these investors from the United States and Europe seemed to have malicious intentions. They wouldn't have conspired to swallow Occidental Petroleum Company long ago, right? Hammer stood up from the chair, pointed at them with trembling fingers, then nodded angrily, wrote down the account, and left the conference room without saying a word. Hammer knew in his heart that this time he had been planted.