Seok-won met Drew Evans' piercing gaze with a calm and composed demeanor.
"Why… Is there really any special reason needed when an investor buys stock in a promising company?" Seok-won responded smoothly.
"Is that truly all there is to it?" Drew Evans pressed, suspicion evident in his eyes.
Seok-won simply shrugged and returned the gaze evenly. "What else could there be?"
"…"
"I'd like to ask what it is you're suspicious of," Seok-won added, his tone steady.
For a moment, Drew hesitated, then he finally spoke with a stern expression.
"After learning that you've been buying up shares, I looked into the Eldorado Fund."
"And?"
"Despite being a relatively new fund, your track record is impressive. I was particularly struck by how you managed to buy up NCR shares in bulk just before the merger announcement, making a considerable profit. It's quite remarkable."
Seok-won remained silent, letting Drew continue.
"It seems odd that a hedge fund, typically focused on short-term gains, would suddenly invest in a company with long-term potential. Doesn't that strike you as contradictory?"
His tone was confrontational as if challenging Seok-won to explain. But Seok-won, unperturbed, responded calmly.
"Hedge funds aren't exclusively short-term investors. We certainly can, and do, invest long-term when the returns justify it."
"And you expect us to believe that?" Drew Evans raised his voice slightly, his eyes narrowing.
"To be frank, I'm concerned that the Eldorado Fund might have ulterior motives in targeting our company. If that's the case, I'd strongly advise you to stop now."
It was clear that the rapid accumulation of shares by a hedge fund had raised red flags within Cisco's management, leading to fears of a possible hostile takeover.
"And if I don't stop?" Seok-won asked, his tone leisurely as if he were discussing the weather.
"Then we won't just sit back and let it happen," Drew responded, his voice tense.
His confrontational stance caused Landon, who had been sitting to the side, to frown.
"That's quite an accusation," Landon remarked, unable to hide his displeasure.
Drew's CIO, Samuel Schwartz, took the baton from Drew and replied, "It was your side that initiated this, not ours."
Landon was about to retort when Seok-won lifted a hand, signaling him to stop. Despite the tension in the room, Seok-won remained completely at ease.
"I think you're greatly mistaken about something," Seok-won said calmly.
Drew and Samuel stared at him, trying to decipher his intentions. But Seok-won continued, unbothered by their scrutiny.
"First of all, I intend to continue acquiring Cisco shares."
"I knew it!" Drew and Samuel's eyes blazed with intensity as they glared at him.
But Seok-won merely smiled faintly at their fierce reactions.
"However, I have no plans to interfere with the company's management or to challenge your control," Seok-won added.
Drew scoffed in disbelief.
"And you expect us to take that at face value?"
"You're aware that with my recent purchases, I've become the second-largest shareholder," Seok-won pointed out.
Drew's face hardened at the reminder. When Seok-won had first started buying shares, Landon, acting as his representative, had reassured Cisco's management that the purchase was purely an investment. However, with Seok-won now holding a significant stake, Drew had become increasingly uneasy.
'If he buys just 1% more, he'll be the largest shareholder. It's no wonder Drew and Cisco's board are on edge,' Seok-won mused silently.
Cisco was a company without an owner, having seen its founders sell off their shares and leave. If Seok-won chose to make a move, he could potentially take over the entire company, a fact that no doubt terrified the current management.
While taking over Cisco might yield greater profits, it also carried the risk of altering the future in unpredictable ways.
'Why kill the goose that lays golden eggs?' Seok-won thought, knowing that the situation was entirely in his favor.
"Since I'm the second-largest shareholder, I have the right to demand a seat on the board," Seok-won continued.
Drew and Samuel visibly tensed at the words they had feared most.
"But I have no intention of doing so," Seok-won added.
"What?!"
"What do you mean…?"
Their eyes widened in shock at the unexpected response. It was completely contrary to their expectations.
"I mean exactly what I said. I have no intention of involving myself in Cisco's management," Seok-won repeated.
Drew and Samuel exchanged bewildered glances, finding it difficult to believe what they were hearing.
"It sounds like you're just trying to reassure us with false promises," Drew muttered, still skeptical.
Whether he believed it or not was of no concern to Seok-won, who calmly picked up his teacup.
"Believe it or don't; it's the truth," he said, taking a sip of his tea.
His calm demeanor left Drew and Samuel confused. Was he being sincere, or was it all a clever ruse? They couldn't tell.
Drew, his confusion growing, asked pointedly, "If you're not going to interfere with management, why are you buying up so many shares?"
Landon frowned at the sharp tone but remembered Seok-won's earlier instructions to remain silent.
"As I mentioned earlier, I'm investing in Cisco because I believe in its future potential," Seok-won reiterated.
Drew frowned, clearly unconvinced. Seok-won, now serious, elaborated, "I believe the future lies in the internet."
"…!"
"You must believe that too, Drew. Otherwise, you wouldn't have spent so much to acquire Crescendo Communications."
Drew, who had been ready to counter any sweet talk, was momentarily at a loss for words.
"With the increasing spread of personal computers, acquiring a company with outstanding network switching technology was an excellent decision."
"…"
"Unfortunately, the market doesn't seem to share that view," Seok-won added, referring to the significant drop in Cisco's stock price following the acquisition.
The comment struck a nerve with Drew, who had been frustrated by the market's negative reaction to the acquisition. Seok-won's words, however, left him conflicted—was he being supportive or critical?
"Developing technology in-house is great, but in a rapidly advancing internet market, acquiring companies with the necessary technology and expertise might be a better way to stay ahead," Seok-won continued, almost as if he could read Drew's mind.
Drew was taken aback by how accurately Seok-won seemed to understand his thoughts.
"Of course, too many mergers and acquisitions can cause problems, but with the right leadership to navigate through any potential issues, I'm not too concerned," Seok-won said confidently.
It was clear who he was referring to as the "right leadership," even without saying it outright.
"If I leave things as they are, I stand to make a substantial profit. Why would I interfere and risk messing that up?" Seok-won concluded.
After a moment of silence, Drew finally asked, "So you trust me and the board?"
"I'll reconsider if the performance doesn't meet expectations, but for now, yes," Seok-won replied.
As a professional manager selected by the board, Drew understood that poor performance would inevitably lead to his dismissal.
Drew nodded slightly, his voice softer than before. "Even so, how can we be sure you won't turn on us later?"
It wasn't easy to dismiss his suspicions based on a few words. Seok-won turned to Landon.
"Show him."
"Yes, sir," Landon replied, reaching into his bag and pulling out a thin folder, which he placed in front of Drew.
"Take a look," Seok-won said.
Drew, puzzled, opened the folder and quickly skimmed through the contents before looking up in surprise.
"This is a proxy agreement…"
"As you can see, I plan to delegate the voting rights of my Cisco shares to you, Drew," Seok-won explained.
Drew and Samuel exchanged shocked glances. This was completely unexpected.
Drew, his composure faltering, asked, "But couldn't you revoke the proxy at any time, rendering it meaningless?"
"That's correct," Seok-won acknowledged without hesitation, causing Drew's face to harden again.
"No matter what promises are made now, you could change your mind at any moment."
"Are you mocking us?" Drew's frustration boiled over.
But this time, Seok-won's expression turned serious.
"Would you prefer a legally binding contract instead?" he asked coldly.
"…"
Drew, unable to respond immediately, found himself meeting Seok-won's icy gaze.
"If that's what you're asking for, you've crossed a line," Seok-won said quietly.
He didn't raise his voice, but the shift in the atmosphere was palpable. The intensity of Seok-won's presence was almost suffocating, and Drew instinctively swallowed, his mouth dry.
It felt as though the air itself had become a sharp blade, pricking at his skin.
Drew's instincts screamed that a single wrong word could lead to disastrous consequences. He could sense Samuel tensing beside him as well.
"Believe it or not, that's your choice. But one thing is certain—I didn't invest to lose money. I'm not foolish enough to remove a successful jockey from a winning horse," Seok-won stated firmly.
Drew remained silent, his face troubled.
The dryness of Seok-won's words, devoid of any deceit, only deepened Drew's confusion.
Seok-won patiently waited as Drew weighed his options.
Finally, Drew broke the heavy silence.
"Can I have a few days to think it over?"
Recognizing that this was not a decision to be made lightly, Seok-won nodded.
"Take your time. I hope you'll give me a positive answer," he replied.
With that, Drew and Samuel, deep in thought, rose from their seats and headed for the exit.
After exchanging polite handshakes, they left the penthouse, leaving Landon and Seok-won alone.
Landon, concerned, asked, "Do you think they'll take the proxy and agree to cooperate?"
The tension between the two sides was clear, and it was understandable that Landon felt uneasy.
"We didn't initiate a takeover or demand a seat on the board. Drew Evans isn't the founder, so it wouldn't be easy for him to fight us," Seok-won replied, his tone relaxed as he leaned back into the sofa.
"They likely came today with the intention of creating a pretext for conflict," Seok-won continued.
If he had shown any signs of greed for control or demanded a seat on the board, they would have used that as an excuse to escalate the situation.
"And if they choose to confront us despite our attempts at conciliation?" Landon asked, his worry evident.
In response, Seok-won's expression turned cold.
"I hope it doesn't come to that, but if they become an obstacle, then they'll have to be removed," he said, his voice as cold as ice.
Landon couldn't help but swallow nervously at the chill in Seok-won's tone.
TL/n -
Next regular update will be from 13/01/2025