At this time, David Smith had a smile on his face, because at the morning board meeting, Ivanta represented IC Capital and stood on his side.
What many people don't know is that he had met the other party earlier and made an agreement with him.
It seems that being able to pull the Navigation Group to his side is indeed a move that can determine the outcome. Although he paid some benefits for this, at least he saved himself and his family's position in the Sinclair Group, right?
But many times, history is not exactly the same.
"Vote for John Smith, from Ivanta TP."
After Debbie Hogan said this, not only David Smith, but everyone else, even John Smith, looked at the blonde beauty with surprise.
"No, it's impossible!"
David Smith even shouted out, his eyes fixed on Ivanta, hoping to get out of her mouth that the votes reported by Debbie Morgan were not true...
But at this moment, Ivanta had no expression on his face, even when facing everyone's gazes filled with various emotions.
"Ms. Ivanta, and everyone here, do you confirm the votes I just announced?"
"Yes."
Including Ivanta, everyone confirmed that the votes read out were from their own choices...
This means that after John Smith's challenge to his elder brother, David Smith, in the morning's board meeting ended in a disastrous defeat...
A dramatic scene occurred. In the afternoon's chairman election, John Smith was elected chairman of the Sinclair Group with a 6:5 majority vote!
Although he had imagined the scenario of ousting his elder brother and taking control of the Sinclair Group, after the failure in the morning, John Smith still felt a bit like a dream at this moment.
"This time the election of the chairman has been completed, and today's meeting process will be recorded. Congratulations to Mr. John Smith, who will serve as the chairman of the Sinclair Group, exercising authority and being supervised by the board of directors."
John Smith accepts congratulations after Debbie Hogan announced the result.
At this moment, there was a "bang" sound...
"David!"
It turned out that David Smith fainted when he stood up!
Then everyone was in a panic and started calling for doctors and ambulances...
…
Barron got the news from Ivanta after the board meeting.
According to the announcement released by Sinclair Group, Mr. John Smith will serve as the chairman of the board, and the former CEO of the group, David Smith, will concurrently serve as CEO due to health reasons...
It can be said that from now on, Sinclair Group has entered the era of John Smith.
This is also what Barron is happy to see. After all, in terms of personality, John Smith is not as strong as David Smith before him, and for Barron, he is easier to "cooperate with".
But before that, John Smith needs to face the reality instead of staying in the illusion of his "success".
In this "tug of war", Ivanta performed very well. Well, not just this time, since the establishment of IC Capital, Ivanta has grown very rapidly.
This is well worth her gain. Ivanta now holds 1% of IC Capital's shares, and in the next nine years, she will be able to accumulate 9% of IC Capital's stock incentives, eventually setting her shareholding in the company at 10%.
Because when she first served as the CEO of IC Capital, she received an incentive plan for a total of 10% of the shares, which would be redeemed annually over ten years.
At the current size of IC Capital, these shares are worth more than $100 million, but both Barron and Ivanta understand that with the future development of the companies they invest in, this number will reach an astonishing scale.
It is also worth mentioning that as an investment company, not all of IC Capital's investments are their assets. A considerable portion of them come from funds from offshore companies controlled by Barron. For example, most of the funds for the previous acquisition of DoubleClick came from here.
Now, Barron needs to focus on other more important things, such as the London Stock Exchange's acquisition of Sweden's OMX Group.
After Deutsche Börse and Nasdaq Group joined the bidding for Sweden's OMX Group, Deutsche Börse raised its offer for the London Stock Exchange's $3.3 billion cash acquisition to $3.45 billion...
However, their acquisition plan is to use cash and stock. In comparison, OMX Group's shareholders prefer pure cash acquisitions.
After all, although the trading volume of the German Stock Exchange is second only to the London Stock Exchange among European exchange groups, their fees and listing fees are lower, which means that their revenue is much lower than that of the London Stock Exchange, and the corresponding stock price is not as attractive.
As for Nasdaq Group, it also made the acquisition with cash and stock, with an offer of US$3.5 billion, which is slightly higher than that of the German Stock Exchange.
Recently there was news that the board of directors of the German Stock Exchange rejected their management's proposal to increase the price again - it seemed familiar, as the board of directors of the German Stock Exchange also controlled the acquisition costs in the same way in its previous acquisition of the London Stock Exchange.
Therefore, in this bidding, it has basically been announced that the German Stock Exchange has withdrawn from the competition.
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On the London Stock Exchange side, it can naturally be seen that the board of directors of the OMX Group intends to sell the company and is taking advantage of the idea of competitors bidding up each other's prices.
But in reality, price increases are inevitable, but Barron will not allow the other party to continue like this endlessly.
Recently, the London Stock Exchange submitted its latest offer to OMX Group, preparing to acquire OMX Group for US$3.5 billion in pure cash.
And they said this would be the last bid from the London Stock Exchange.
In order to put pressure on the OMX Group, the London Stock Exchange also began to contact another exchange, the Italian Stock Exchange.
Of course, this contact is not just a smokescreen. If the acquisition of OMX Group fails, the Italian Stock Exchange will be an alternative target for the London Stock Exchange.
The Italian Stock Exchange (Borsa Italiana) is the main stock exchange in Italy, located in Milan, and its history can be traced back to the 19th century.
Not only do they have stock trading operations covering Italy, but the Italian Stock Exchange also has the MTS bond platform, which can radiate across Europe.
In Italy alone, the MTS bond platform handles transactions worth over a trillion euros in Italian government bonds.
If the acquisition of the Italian Stock Exchange is completed, the London Stock Exchange will be able to directly acquire a large amount of European business.
Therefore, even if it is unable to acquire the OMX Group, the acquisition of the Italian Stock Exchange will greatly expand the scale of the London Stock Exchange.
According to estimates, the acquisition of the Italian Stock Exchange will cost less than 1.5 billion euros, which is nearly half the price of the OMX Group.