Chapter 247 A Deal

Of course, Bernard Arnault would not give up.

Not to mention that under his leadership, LVMH Group is thriving and its market share has been expanding.

Not to mention that the global luxury goods market is about to explode.

He was merely kicked out of LVMH, even though he owned nearly one-third of the shares.

No one can stand it.

Moreover, he is also one of the richest people in France.

He has people too.

And rather than being unwilling to meet Milo, he did so after expending a lot of effort.

After many twists and turns, he finally found the current owner of the Elysee Palace, President Chirac, who took office last year.

"Good evening, dear Mr. Chirac."

"Good evening, Mr. Arnauld."

Claude's father met the French luxury goods tycoon in a club near the Elysee Palace.

After the greetings.

Bernard Arnault originally wanted to follow French customs.

Let's talk about everything first, and then talk about business.

But Claude's father spoke directly.

"I know why you're here." The owner of the Elysee Palace, who is known as the last French person who is willing to consider the interests of the French, looked at the luxury goods merchant in front of him with a smile, "But I must say sorry to you. I have learned from my secretary that the Americans are legal and compliant this time... unless, unless you can find something that they are not compliant with."

Bernard Arnault was confused by what Chirac said at the beginning.

He almost immediately became furious: "Ah, sir, this... all this is not normal! 48.5% of the shares, but before the media announced it, none of us, including the board of directors and the company, received a single whim! If everyone does the same as him, then is there any need for the French Financial Securities Law to exist?"

Bernard Arnault is right.

All countries in the world that have financial regulations provide a legal layer of protection against "hostile takeovers" for listed companies.

Almost all financial laws stipulate that no individual or company can hold more than 5% of the shares.

Then it must be announced in the newspaper or a formal written letter must be sent to the board of directors of the listed company.

France has the same law.

But before Andre brought his people to the LVMH board of directors.

LVMH did not receive any prior notice, and Bernard Arnault only received some news two days ago.

But before he could confirm, everything broke out.

If this is not a hostile takeover, then what else is a hostile takeover in this world? "Have you read the latest report in Le Monde?"

Chirac shook his head calmly: "It lists seven ways to achieve this level without breaking the law."

Before Bernard Arnault spoke again, the owner of the Elysee Palace shook his head again:

"I have to admit that there are still some loopholes in our country's relevant financial laws. This incident reminded me that I should propose to the parliament to make appropriate amendments to fill the relevant loopholes."

Bernard Arnault was crying bitterly, and the former owner of LVMH had realized it by now.

That is, the Elysee Palace is likely to take a neutral attitude towards this incident.

However, now it is Bernard Arnault who is weak and the Americans who are strong.

In this situation, the Elysee Palace, which represents the French government, remained neutral.

This is not neutrality, this is implicitly helping the Americans! Bernard Arnault took a deep breath and retracted his somewhat inappropriate expression.

He looked at the owner of the Elysee Palace calmly, "Fixing legal loopholes is the job of the two houses in the future. Now I want to ask, dear President Chirac, are you going to let me watch a large French company fall into the hands of the Americans?"

"That's not the case. Mr. Arnault, no matter who the shareholders of LVMH are, I think its factories, headquarters and most of its workers will always remain in France. So in fact, even if all its shares are owned by foreigners, LVMH will still be a French company."

"I'm sorry I can't help you. I have something else to do. That's all. Goodbye, Mr. Arno."

Chirac forced the guests to leave.

Even if Bernard Arnault was unwilling, he could only leave with a look of resentment on his face.

However, as soon as Bernard Arnault left, a beautiful girl appeared in the small conference room where he and Chirac met.

Chirac looked at her and couldn't help but said, "The last question he asked made me feel a little uncomfortable."

Claude knew without asking that what his father cared about was what Bernard Arnault had just said: "Watching a French company being taken away by Americans."

Claude: "That was never Bernard's company. He took it from the Vuitton family. And father, is Bernard Arnault clean? His funding also came from the United States."

"And compared to more important national interests, I don't think a boutique company is worth consuming the credibility of the Elysee Palace."

"Father, this is a deal. We didn't lose anything, and we even made some money."

Chirac nodded slightly after listening.

Then he looked at his daughter again, with a suspicious look on his face, "Claude, I heard that you and Nicholas had a fight?"

Nicolas is the boyfriend of Chirac's second daughter Claude and works for an influential newspaper.

He is a famous young social critic, and Claude has been with him for more than a year.

When Claude heard his father ask this, his expression became somewhat abnormal.

She shook her head slightly: "Nicholas is too sensitive."

"Is Nikolai sensitive, or are you a little too close to the Americans?"

Chirac said in a low voice: "I heard from Lawrence that you were his guide yesterday?"

Claude looked even more uneasy.

She changed the subject: "Father, I did that to help you. Just like this deal, he promised us to change our attitude in Africa. Hasn't this always been a headache for you? But now we have solved it."

Chirac was silent.

Yes, this is exactly why Chirac was reluctant to get involved in LVMH's unusual equity acquisition.

That's what the Americans told him through his daughter.

As long as the Elysee Palace remains neutral this time.

Then the United Global PMC, which is doing well in the Central and West African franc region, can start accepting employment from the French.

This means that France has been troubled for more than a year by this difficult issue that the previous government had no idea how to tackle.

It was easily solved by Chirac.

This would help Chirac gain favor with the French military and the real French consortium that has huge interests in the African franc region.

Compared with these, what is a luxury group that does not affect the international people's livelihood? It is not a giant like Airbus or Louis Dreyfus that affects the national economy and people's livelihood.

If the Americans want to take action against this kind of company, whoever takes over will want to fight to the death.

"I also heard that he bought a number of newspapers. But what I didn't expect was that Le Monde would speak for him this time."

Chirac also changed the subject.

Le Monde is one of the most important newspapers in France.

This newspaper is the most unique one in France. It claims to be independent, has never been affiliated with political parties or financial groups, and has never accepted government subsidies.

The shares of this newspaper are owned by the staff and members of the editorial board.

About 49% of the newspaper's shares have always been held by reporters, editors and managers, and 11% of the shares belong to the newspaper's leaders as a matter of course.

The so-called natural shares are the French name for dry shares and dividend shares.

That means you can get dividends, but you can't sell them. The shares will be given to whoever is the president of the newspaper.

And this one focuses on international news and political news.

This time, however, special attention was paid to the acquisition of LVMH by Americans.

In Chirac's view, the position is obviously still biased towards the Americans.

If there is no story behind this, Chirac will never believe it.

"Klein Joad's wife holds dual French and American citizenship," Claude said softly.

Klein Jod is the current president of Le Monde.

Chirac immediately understood what was going on.

He waved his hand, signaling Claude to stop.

The latest novel is published first on Liu9shuba!

Things then took a sharp turn for the worse for Bernard Arnault.

With the deals between the two sides in Africa, the attitude of the Elysee Palace is very clear.

In particular, the person in charge of the China Securities Regulatory Commission understood better what to do after receiving the notice through special internal channels.

With this invitation, even if Paladin Investment has some violations, the CSRC may be able to help it cover it up.

Not to mention that Milo acted steadily, and there was no trace of irregularities on paper in the entire acquisition process.

The CSRC has achieved unprecedented efficiency!

So efficient that it surprises the outside world!

Only 29 hours passed from receiving the report to clarifying the situation! After the stock market closed in the afternoon, but the CSRC was still working.

The CSRC then announced the entire investigation results and conclusions to the public, and responded to the results to the whistleblower Bernard Arnault and the reported party Paladin Investments.

When I saw the conclusion that "your report is false, Paladin Investment's acquisition process is legal and compliant."

The gloom of Bernard Arnault.

After meeting with Chirac yesterday, he realized that the outcome might be unfavorable to him.

But Bernard Arnault didn't expect the results to come out so soon!

Then, when I saw the attached administrative penalty imposed by the China Securities Regulatory Commission on his false reporting, I was so angry that I almost vomited blood.

After calming down, Bernard Arnault felt a little regretful and thought that reporting this was a bad move.

Because this proves from a legal perspective that the Americans are legal and compliant.

Instead, it is he, the chairman of LVMH Group, who is not legal or compliant.

This had a huge impact on public opinion and was not conducive to what he wanted to do, which was to promote French national opinion to support his own ideas.

Sure enough, early the next morning.

Many newspapers in France reported this result.

Bernard Arnault became a clown in the eyes of readers.

On the contrary, the name of Paladin Investments has spread throughout France, and the subsequent positive impact will continue to be demonstrated...

Time flies by quickly, and in a blink of an eye it is the day for LVMH Group’s extraordinary general meeting of shareholders.

When the extraordinary general meeting of shareholders was held, Bernard Arnault did not come, but only sent a representative, mainly to find out the specific situation.

As for resistance?

Doesn't exist!

He can't resist! Yes, he owns 33.4% of LVMH Group shares.

But the Americans’ shares had skyrocketed from 48.5% to 57.5% in just a few days!

It’s already halfway!

As for where this part of the stock came from.

It is the 9% held by the Vuitton family.

This former ally of Bernard Arnault chose to stab him in the back this time under the lobbying and benefits of the Americans.

Not only can they sell their shares at a 30% premium.

And he can retain his seat on the board of directors of LVMH permanently.

Although there is only one position, just like the other two families.

But they can earn money and gain face, and the key is that they all know Bernard Arnault's ambition.

Put yourself in his shoes and imagine what would happen if Bernard Arnault got so many shares and completely controlled the LVMH Group.

Then he would never be so generous to the Weiden family.

So when the conditions are right.

And there are two other families lobbying with Alan.

The Vuitton family decisively jumped out and stabbed Bernard Arnault in the back.

So now Paladin Investment holds more than half of the shares, and it also held more than half before the vote.

How did Bernard Arnault resist?

The extraordinary general meeting of shareholders became a one-man show for Paladin Investments. The company's board of directors was re-elected, and the majority of seats were held by Paladin Investments.

An interim board meeting was immediately convened, and the board was naturally controlled by Paladin Investments.

The meeting elected Alain Chevalier as chairman of the company and appointed him as executive president.

The position of chairman that originally belonged to Bernard Arnault was abolished.

Bernard Arnault's representative had a gloomy face throughout the meeting, and then left angrily after watching the meeting vote to pass the company's delisting and privatization resolution.

After the board meeting, Alain, as the chairman of LVMH Group, submitted a delisting and privatization application to the Paris Stock Exchange.

The privatization price was 350 francs per share, significantly higher than the company's real-time share price before it was suspended.

Fortunately, Paladin Investment had the company apply for a trading suspension in advance due to insufficient outstanding shares.

Otherwise, once the delisting and repurchase announcement comes out, the repurchase price will definitely exceed 500 francs or even more.

It's not like now, 350 francs per share, which is only 10% higher, which is equivalent to buying peace of mind at a premium.

Although many investors are unwilling to accept this, Paladin Investment's operations are in compliance with regulations.

Besides, the price has already been charged at a premium, so they can only accept the loss.

Pursuant to the resolution of the Board of Directors, the share repurchase for the company's privatization is designated to be carried out by Paladin Investments.

Therefore, Bernard Arnault could only watch Paladin Investments continue to acquire the remaining shares held by institutions and retail investors.

Until... Paladin Investment's shareholding ratio reached 66.6%!

When Bernard Arnault, who had been following the news closely, learned that the stock buyback had ended, he subconsciously became nervous.

If nothing unexpected happens, the Americans will attack him next! (End of this chapter)