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Chapter 17 : I’ll Tell You the Bid Price Exactly (2)
Chapter 17: I’ll Tell You the Bid Price Exactly (2)
『 TL – Marctempest 』 『 ED – Laplace 』
Court receivership sales followed a competitive bidding procedure.
In competitive bidding, there was only one thing that mattered.
The bid price.
Web_ǹо́ ṽ ēĺ Ên̂ um а
To decide the bid price, Han Juhyeong met Lee Jaseong every Friday at 3 a.m. for weeks······.
It was purely to look at the bid price from the future, but Han Juhyeong, who didn’t know that, was absolutely miserable.
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‘I’m sleepy to death. Ha, that bastard’s daily rhythm is abnormal too.’
Unlike Lee Jaseong, who was nocturnal, Han Juhyeong had an extremely normal daily routine.
Trying to go to work after sleeping only one or two hours left his mind in a fog.
After grumbling and holding dawn meetings for a whole month, Han Juhyeong finally said,
Wеbǹо̇ v е́ l̃ Е̂nŭm̆ ā
“I can’t do this anymore. I’m quitting!”
He declared his surrender.
Of course, it didn’t work on Lee Jaseong at all.
“Endure it.”
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“Why! We already have the expected bid price anyway!”
That was true.
Е̄ n̊ûm ā
What mattered when writing a bid price wasn’t how much you would write.
‘It’s how much the other companies will write!’
“Our M&A team already figured out the expected bid price!”
Lee Jaseong let out a small snort of laughter.
“Oh, that M&A team?”
“……Why, what’s wrong with our team.”
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“Well, they’re people who’ve honed conventional acquisition methodologies, so I’m sure they diligently investigated the bid price.”
“……This time, we really analyzed it thoroughly.”
Han Juhyeong bristled.
At Hanyeong Motors as well, they had selected only veterans and recruited the industry’s top consultants to form an Avengers-like team.
How dare he treat them like some neighborhood mom-and-pop shop!
And there was a reason he was confident.
Еn̊ů m̌ ā
“It’s a massive acquisition worth a full 1 trillion won. But the preparation time was tight. Thanks to you suddenly exposing the slush funds, the schedule was pulled way forward.”
Lee Jaseong tilted his chin as if telling him to go on.
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“To raise 1 trillion won, whether through bond issuance, bank loans, or a paid-in capital increase, movements in the market are bound to be detected. On top of that, Hanyeong Heavy Industries was short on cash after investing in factory expansion. That’s why we joined hands with a private equity fund.”
“So, what’s the final expected bid price?”
“1.2 trillion. So we’re planning to write just a bit more than that. We’ve almost concluded on 1.3 trillion.”
Lee Jaseong frowned.
É n̆ û ḿ а . і_d̀
Including debt, Yuseong Steel had been valued at 1.6 trillion won.
But considering all the risks Yuseong Group currently carried, the actual transaction price should have been far lower than 1.3 trillion.
“That’s a very generous valuation.”
“That’s……. It couldn’t be helped. Because of Cha Partners.”
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Cha Partners itself wasn’t such a large fund.
The problem was its CEO, Cha Eunchae.
Ẁе̂ bn̊ov̇ el En̆u mа
“You know Cha Eunchae’s grandfather is a loan shark king, right? There’s no way to estimate how much capital they can mobilize through him. On that side, tracking funds is almost impossible, so for us, who absolutely have to acquire Yuseong Steel, we had no choice but to set it generously.”
‘No matter how capable Lee Jaseong was, he couldn’t even track the capital mobilization power of a loan shark king. This really was a realm of darkness.’
Han Juhyeong suddenly felt exhausted and rubbed his face.
He had been coming out at 3 a.m. for an entire month only because it was Lee Jaseong, and now it was time to end this insane meeting.
“That’s enough, right? Anyway, I’m going to get up now, okay? I’m someone who has to go to work in the morning.”
But Lee Jaseong had absolutely no intention of letting it go that easily.
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Leaving aside the absurd bid price of 1.3 trillion, the expected bid price had to be checked in the future no matter what.
Lee Jaseong checked the time.
Before he knew it, it was approaching 3 a.m.
‘He lasted quite a while, coming out faithfully at 3 a.m. for a whole month.’
He had brought something in preparation for when Han Juhyeong reached his limit.
A limited-edition whiskey that had appeared at Sotheby’s.
W̊ е̇ b ñ o̊ v̂ ёľ. Е̃_n um ӑ
“Really? Then I guess you won’t get to drink this.”
“Huh······? Gasp!”
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At the sight of the whiskey in his hand, Han Juhyeong, whose eyes had been half-closed, snapped fully awake. Just like a guy who loved alcohol.
“Th-that, where did you get it? I heard it came up at auction.”
“I got it as a gift.”
Whenever he had visited his uncle over the past month, his uncle had given it to him as a present.
Е n.ǔ m а . іd̆
The moment he asked if he could take it, it had been pressed into his arms.
How kind of him.
“But I hate alcohol, so······.”
“You hate it?”
Dilarang mengopy novel dari Enuma.id.
“I should throw it away.”
“What?”
Е̄ńu̇.m а̊
Whether Han Juhyeong was shocked or not, Lee Jaseong looked for a trash can and tilted the bottle without hesitation.
Gurgle.
The pumpkin-colored liquid drew a thin arc as it poured straight into the trash can······.
“Don’t!!!”
“Then shall we continue the meeting?”
“Ha, but…….”
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Gurrrgle—
Clutching at the pouring whiskey, Han Juhyeong shouted desperately.
“I’ll stay! I’ll stay! Ah, staying is fine, right!”
Chirp chirp chirp.
When he opened his eyes, an unfamiliar ceiling came into view. Han Juhyeong blinked.
‘Where is this······?’
W е̌ b n̆ ŏ v_ё ľ Е n u m̄а̇
As he slowly looked around, a spacious suite room came into sight. Then fragments of yesterday’s memories surfaced.
After talking with Lee Jaseong about how to wrap up the acquisition, he had drunk an insane amount of alcohol······.
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And after that, what had happened······.
Ugh.
Pressing hard on his temples, Han Juhyeong staggered to his feet. His mouth was parched. Just as he moved to look for water, the room door opened and Lee Jaseong walked in.
Han Juhyeong flinched and asked,
W ёb̂ nӧ v̌ е̃ l̈ _Е̇ nu m̆a
“Don’t tell me you slept here too?”
The moment the words left his mouth, a contemptuous gaze flew over and pierced him. It was a look that snapped one’s mind awake.
“Oh, come to think of it, you changed clothes? What a hassle, going all the way home to sleep and come back. Ahhh……. I’m tired…….”
Lee Jaseong, who had been about to say something, just let out a sigh and sat down across from him.
Dilarang mengopy novel dari Enuma.id.
He was excellent at spouting nonsense, but since the morning after drinking was about the same as a dog, he decided to make allowances and let it slide.
Gesturing with his chin toward the bathroom, he said.
Ẅ e b n ov̂ e l̊ Е̌ ň ũmä
“Pull yourself together and come sit down. I have something to talk about.”
“No, it’s fine. I just need some water.”
Han Juhyeong took out a bottle of mineral water from the refrigerator and downed it in one go. As the cold water slid down his throat, it was refreshing enough to make his head throb.
“Ugh. I’m dying. I have a meeting today······. Ah, I’m screwed.”
“You’re probably not screwed.”
“Huh?”
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A faint smile brushed the corner of Lee Jaseong’s mouth as he looked at him. He had finally seen the bid price.
Lee Jaseong pulled out a folded memo from the inside pocket of his jacket and handed it over.
“Here. The bid price you should write.”
“The bid price?”
Han Juhyeong hurriedly took it, unfolded the memo, and read the number written on it.
[990,000,000,000]
Ẅе̌ b̊ ñô vе̄ l Ѐnǔm̊ а
“990 billion won?”
Was he still not fully sober?
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Han Juhyeong checked the memo again.
It really was 990 billion.
It wasn’t some home shopping event selling things for 9,999 won—it was exactly 100 billion shaved off from 1 trillion.
“Isn’t this way too low? That’s like a 40% discount.”
Е̇ n ŭ m̌ӓ. і́d
Unease crept into his voice.
It was a natural reaction.
At 990 billion won, it was practically buying it at half price.
Even accounting for the recent management setbacks, this was an absurdly low bid price.
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Lee Jaseong wouldn’t have been able to suggest a number like this if he hadn’t seen the future.
But the situation was clear.
Е̄ n ū m а̄. ї d
Cha Eunchae had failed to pull in the loan shark king’s funds.
“If you’re really uneasy, you can write higher than that. As long as it’s above 990 billion won, there won’t be a problem.”
There was a sense of ease in Lee Jaseong’s voice.
His goal was a successful acquisition.
Whether they wrote 990 billion or more wasn’t his concern.
If anything, writing too high and creating a large gap with second place could invite criticism for having paid an excessive premium.
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That was exactly the future he had seen yesterday.
In that future, Han Juhyeong regretted having unnecessarily paid an extra 300 billion won.
Lee Jaseong bounced a rubber ball hard.
By the time he caught the ball as it bounced back up, he had already cleanly erased that future.
“The acquisition will succeed anyway. It’s just the difference between a beautiful ending and a regretful one. But······.”
Lee Jaseong lifted the corner of his lips.
Е n̂ŭm̄a . і̌d
“Have I ever been wrong?”
On the day of the bidding, Seoul Central District Court.
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Han Juhyeong, who had yet to submit the bid envelope, paced the corridor with anxious steps.
Baek, the executive director who had been the initial Task force team leader, lowered his voice and whispered cautiously.
“Wouldn’t it be better to reconsider the bid price one more time?”
For an entire month.
Е ñu ṁa
The two had clashed over the bid price.
Han Juhyeong argued for 990 billion won.
Executive Director Baek insisted on 1.3 trillion.
Thinking this was the last chance before submission, Executive Director Baek pressed hard.
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“No matter how I think about it, 990 billion seems too low. It’s 300 billion lower than the amount we previously reviewed…… I think the Consortium will at least write 1 trillion.”
Hanyeong Heavy Industries.
W еb́n̂о̆ v̈ѐ l̄ É ñû mа̇
That was the reason Executive Director Baek wanted to raise the bid.
Hanyeong Motors and Hanyeong Heavy Industries had once been one entity before splitting into separate affiliates.
For ten years, the two groups had bared their teeth at each other, each claiming legitimacy.
In this acquisition battle, they had finally clashed head-on.
Because of that, the people at Hanyeong Motors were burning with determination, insisting they had to win this acquisition no matter what.
“It’s not just anyone—it’s Hanyeong Heavy Industries. How about going a bit higher and playing it safe?”
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Han Juhyeong thought of his father.
When he had pushed for 990 billion won, his father had looked at him quietly and said calmly,
— Do it your way. It’ll be a good experience.
Was that a test, or trust?
If they were pushed out by Hanyeong Heavy Industries here, what kind of reaction would his father show?
The pressure was immense.
W̌ eb̈no v́е l̄ Е̃nũ_m̂ а
He considered raising the amount, but that created another problem.
‘If I raise it by another 300 billion, wouldn’t that just be paying an excessive premium for nothing?’
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He had a track record of having led several ventures to failure before.
If the gap with second place became too large, people would say again that he had invested thoughtlessly.
Where was the reasonable line?
The worry continued to the very last moment.
Е ńum̀ а̀
This was the final opportunity to change the amount.
Han Juhyeong squeezed his eyes shut.
Now he had to choose.
Trust Lee Jaseong, or not.
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At that moment, Lee Jaseong’s words came back to him.
— The loan shark king’s funds are tied up in loan receivables. To liquidate them quickly, he’d have to accept massive losses.
Е ǹu m а .ï d̂
In this situation, Cha Eunchae has no chance of presenting an aggressive bid.
The higher the bid price goes, the lower the return, and the expected profit at Exit also decreases. There’s no reason to force an acquisition by writing an excessively high price.
At the crossroads, Han Juhyeong decided to trust Lee Jaseong one more time.
“We’ll proceed as is.”
Steeling his resolve, Han Juhyeong placed the documents into the envelope.
One mistake could have wiped everything out.
Dilarang mengopy novel dari Enuma.id.
His heart pounded like a gambler betting his entire fortune on black at a roulette table.
Together with Executive Director Baek, Han Juhyeong entered the Third Conference Room.
The opening of bids proceeded immediately.
The dry voice of the court-appointed administrator echoed through the conference room.
“We will now begin the opening of bids for the sale of Yuseong Steel.”
Han Juhyeong took a deep breath and turned his gaze to the bid box.
Ẽ n u mа . і d
There were three participating teams in total, and the first envelope was opened.
“Bidder number one…… Seun Steel, 920 billion won.”
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Thump.
His heart resounded loudly.
Seun Steel had been a competitor he hadn’t even paid attention to.
‘But only a 70 billion won difference from me?’
Wě bnоṽ е́ l Ēn̂u m̂а̊
His fingertips trembled slightly at the higher-than-expected amount.
Unconsciously, he looked toward the Consortium.
Seeing the smiles on their faces, it seemed they had written a higher amount than Seun Steel.
Sweat soaked into his palms. The moment the court-appointed administrator picked up the second bid document, Han Juhyeong forgot even to breathe and stared only at the man’s lips.
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“Bidder number two, the Hanyeong Heavy Industries & Cha Partners Consortium…….”
The administrator checked the amount on the bid sheet and read it out clearly, syllable by syllable.
W ёb̊n̄о v еĺ Е n̊ ũm а̌
“980 billion won.”
Han Juhyeong blinked slowly. He felt muffled, as if submerged underwater.
980 billion won?
Then compared to what I wrote······.
At that moment, he felt a hand grip his shoulder tightly. When he turned his head, Executive Director Baek was whispering with a flushed face.
A 10 billion difference, just 10 billion……!
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As the meaning hit him and dizziness washed over him, the administrator picked up the final bid document. The administrator’s expression wavered slightly, then his mouth opened.
“Hanyeong Motors Group…… 990 billion won.”
In an instant, all eyes in the conference room focused on Han Juhyeong.
The sharp sound of someone gasping, the creak of chairs, rang unusually loud in his ears.
Amid the restless atmosphere, the administrator announced the winning bidder.
“The highest bid is confirmed as bidder number three, Hanyeong Motors Group, at 990 billion won.”
Е n u m̃ â
10 billion won.
Just a 10 billion won difference.
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This massive acquisition had been decided by a sum of merely 10 billion won.
“Insane.”
As he muttered weakly, a smile slowly rose to his lips. At the same time, a confident voice flickered through his mind.
— Have I ever been wrong?
En̈_ú m̂а̀
Han Juhyeong let out an exclamation as if exhaling his breath.
“Ha, that crazy bastard, seriously······.”
Just what on earth did he tell me?
It was good that I got greedy.
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It was good that I trusted him to the very end.
A thrilling shiver surged up from the center of his chest. Han Juhyeong turned his gaze toward the Hanyeong Heavy Industries side.
Ẁё b̀.ǹ o v_е̂ l Ě nǔ ma
Faces perfectly blended with shock and the look of having bitten into shit.
Seeing those expressions made the pleasure even more intense.
‘I won!!’
Watching them, the Hanyeong Motors side openly celebrated. The lawyer seated with them sent a look of admiration.
“Did you see the Hanyeong Heavy Industries side? It looked like they were completely caught off guard.”
“Hahahaha.”
Dilarang mengopy novel dari Enuma.id.
“Chairman Han will be absolutely delighted. I’ve never seen an acquisition like this in my life. To be decided by a 10 billion difference—my heart was pounding the whole time.”
“We were lucky!”
Han Juhyeong’s nose practically lifted itself. Executive Director Baek grabbed his hand and shook it as if he might tear it off, shouting.
“No, seriously, how did you find out a number like 990 billion so precisely?”
There was even awe in his voice.
That was exactly how Han Juhyeong felt right now.
W̌ еbn̂ôvēl Ěn̆ùm̀ ǎ
‘Just how did Lee Jaseong figure out 990 billion?’
A difference of exactly 10 billion, as if it had been calculated down to the last digit.
Dilarang mengopy novel dari Enuma.id.
Had he known in advance?
But how?
Han Juhyeong was curious too, but he didn’t show it and immediately shot back arrogantly.
“Hahahaha! I did a bit of research.”
Е̊ n̄ŭm̄ а
“I’m really sorry for insisting earlier. Whew, if we’d written that amount, we could’ve blown 300 billion into thin air.”
“Hahahaha! Don’t worry about something like that!”
Han Juhyeong soaked in the praise with his entire body and shouted inwardly.
It worked!
Dilarang mengopy novel dari Enuma.id.
It worked!!
It worked!!!
En ü m а
The chairman’s office at Hanyeong Motors Group.
“Uahahahaha!”
Chairman Han Yeongcheol’s hearty laughter filled the room.
There was only one reason.
He had just heard the news from the court.
“We took it with a 10 billion difference? Beating out the Consortium?”
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Thinking about his younger brother, the chairman of Hanyeong Heavy Industries, clutching his stomach in frustration made his shoulders practically dance.
Hanyeong Motors and Hanyeong Heavy Industries.
Ten years of snarling at each other after their affiliate separation.
And now, in the acquisition battle, he had landed such a refreshing blow.
“Should I give my brother a call? Chief Choi.”
“Yes, Chairman.”
Ё nü m а̌
“Get in touch with the media and have them write it up nicely. Something like, ‘Hanyeong Motors crushes Hanyeong Heavy Industries by a 10 billion margin!’ Doesn’t that paint a great picture? Huh?”
“I’ve already given the instructions.”
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“As expected of you, Chief Choi. You’re really quick.”
Chairman Han Yeongcheol laughed loudly once more. He wasn’t usually someone who laughed easily, but today he was completely floating.
Chief Choi decided to deliberately hype the chairman up even more.
“With the Yuseong Steel acquisition, Executive Director Han’s image within the group has completely changed. People are even saying that the previous failure in pushing the new business was a necessary step back for today’s success.”
W̊ е́ b ǹо̃ v еl̈ Е̃n u̇ma
“Is that so?”
“The fact that he secured it with a 10 billion difference was decisive. And the opponent was Hanyeong Heavy Industries, no less.”
“That’s right. The story was written brilliantly.”
The dramatic transformation of a good-for-nothing.
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A victory snatched by a razor-thin margin over a long-time rival.
It was a script anyone would love.
Ē ñ ū m а
And Chairman Han knew who the real scriptwriter was.
“Our Juhyeong really picked his friends well. Lee Jaseong, was it?”
“Yes. He’s Executive Director Han’s high school classmate. They also met often during their study-abroad period.”
The background check that had started because he found his son’s sudden change suspicious.
He heard that a law firm with Hanyeong Motors as a client had personally helped Han Juhyeong.
Digging here and there, the contract between Lee Jaseong and Han Juhyeong had surfaced.
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Succession consulting provided by Lee Jaseong.
‘Succession consulting.’
There was plenty of management consulting, but succession consulting was something he had never heard of.
Still, there would clearly be demand…… no, there would be a lot of it.
Wasn’t his own son a perfect example of someone who needed succession consulting right now?
‘All that time, I plastered him with every kind of expert under the excuse of management training, and he still turned out like that—yet this fixes it in one shot? First, build a foundation with Yuseong Steel—no, Hanyeong Steel—then move on to automobiles. That would be perfect.’
W̃ eb̃ño̊ v̀ еl̊ _Е̂ n̂um̆а́
At last, his son had established a foothold within the group. It felt like having an aching tooth finally pulled.
At the same time, he was curious.
Dilarang mengopy novel dari Enuma.id.
‘How did he figure out the bid price?’
The Hanyeong Motors Group acquisition team had insisted on 1.3 trillion, but Han Juhyeong had stubbornly pushed through 990 billion.
“He must’ve been told the bid price by Lee Jaseong too, right?”
“Yes. It seems he obtained the bid price in advance.”
Е̌_ňũ m ã
“We almost blew 300 billion for nothing. Hah, seriously. How did he even figure out the loan shark king’s capital mobilization power…….”
The chairman kept tilting his head in amazement.
‘At that age, did he even have his own information network? Well, he must have something in his hands to jump into succession consulting.’
“Then what are you thinking of doing about Lee Jaseong?”
Dilarang mengopy novel dari Enuma.id.
“What do you mean, what do I do?”
“Honestly, talents capable of deploying such precise strategies at that age are rare. Yuseong Group has collapsed too, so if Hanyeong Motors were to extend a hand…….”
W ebn ò v̇ е l̊ Еn̄ü m̈ а
“Hehehe. Yuseong Group collapsed? Do you really think so?”
“Pardon?”
“He dismantled Yuseong Group. Ha, even thinking about it again, it’s astounding.”
To a chaebol, the family was the footing on which they stood firmly.
The foundation of business and identity.
The source of trust and networks.
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A platform for exercising influence over society.
No matter how capable an individual was, without the backing of a family, it was difficult to reach the highest echelons of power.
“After personally smashing a corroded footing, he selected only what he needed and rebuilt it into a new one, so his own company could stand firm. That’s not the makings of a successor. That’s the makings of a founder.”
That was why he was conflicted.
‘If it were up to me, I’d drag him into Hanyeong Motors and glue him right next to our Juhyeong, but······.’
You couldn’t monopolize someone who built their own system.
Еń um̌ а . і̊ ď
If you tried to monopolize them, it would only backfire.
That was when Chief Choi made a suggestion.
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“If we can’t monopolize him, how about this?”
“Hm? What do you mean?”
“Rather than that, how about becoming the number one client……?”
“!”
Ӗ n u m̀ а̃ .і d̃
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