America 1919-Chapter 812 - 278, Breton Bank in hand_2
Chapter 812: 278, Breton Bank in hand_2
Clearly, at this time, they still hadn’t figured out Donnie’s complete plan.
“Sinclair Oil Corporation is now in your hands, and the obstacles from the board have also been cleared for you. In the future, if Sinclair Oil Corporation fails to profit for us, that’ll be your problem!”
At this moment, Donnie was instructing Warner Ditch on matters.
Although Warner Ditch tried to contain his excitement, his skills fell short, and the smile on his face was unmistakable.
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Although in name, Pandora Oil Company was the parent company of Sinclair Oil Corporation, the scale of Sinclair Oil Corporation was far greater than that of Pandora Oil Company.
He had now leapt from the position of Vice President of Pandora Oil Company to President of Sinclair Oil Corporation.
His power had increased, and naturally, the resources he could allocate were more abundant!
“Moreover, don’t forget about the situation with Hestia Oil Transport Company. Now that we have included Sinclair Oil Corporation’s shares, we have become the largest shareholder of Hestia Oil Transport Company. But to avoid Rockefeller’s sensitive nature, make sure to measure yourself well!”
Donnie continued to admonish while looking at the smile on Warner Ditch’s face.
“Understood, please rest assured, boss, I will certainly not disappoint you!”
Warner Ditch said earnestly.
Donnie nodded contentedly and said, “I will have Winston Marl take you to Sinclair Oil, and how Sinclair Oil Corporation develops next is up to you!”
As Donnie’s assistant, Winston Marl, though typically low-key in public, still had a reputation.
Donnie had more pressing matters to attend to in Atlantic City, so he entrusted the task of taking Warner Ditch to Sinclair Oil Corporation to Winston Marl. Winston had been with Donnie for a substantial amount of time, and Donnie also wanted to delegate some specific matters to him for handling!
After Warner Ditch and Winston Marl had left, Donnie said to John, Robert, and Café Jackson, who were sitting opposite him, “Well now, Sinclair Oil Corporation has been acquired according to plan, and only Breton Bank is left!”
From the beginning, Donnie had never considered giving up on Breton Bank, but he also knew that acquiring Breton Bank would definitely be fraught with difficulties, especially Dick’s influence in the bank, which made the task even more challenging.
Therefore, Donnie employed the same tactics for acquiring Breton Bank as he did Sinclair Oil Corporation!
First, he sold off his own shares when Breton Bank’s market value was at its peak, causing Breton Bank’s market value to drop for the first time. Then, by using the decline in Sinclair Oil Company’s stock price and the loss of the Baku Oil Field exploration rights, he continuously caused the market value of Breton Bank to fall.
During this process, Donnie first exploited Dick’s eagerness to control Breton Bank, causing him to frantically purchase Breton Bank shares on the market, while also acquiring a large number of shares from some Breton Bank shareholders, thereby causing a financial loss to Dick.
When Breton Bank’s market value began to drop, those shareholders who had once supported Dick started to doubt him, as it was their own interests that were being harmed!
After several such rounds, the cash at Dick’s disposal was basically drained by Donnie, and the board members also began to resist Dick’s actions.
Robert, somewhat worried, said, “But now that we have completed the acquisition of Sinclair Oil Corporation, and as Sinclair Oil Corporation’s stock price begins to recover, Breton Bank’s stock price, which has close cooperation with Sinclair Oil Corporation, is also showing signs of recovery. I estimate that at this moment, Dick is also using this situation to persuade the shareholders of Breton Bank. Isn’t it a bit late for us to make a move now?”
In Robert’s view, the acquisitions of Sinclair Oil Corporation and Breton Bank should have been conducted simultaneously, or if there had to be a sequence, Breton Bank should have been acquired first and then Sinclair Oil Corporation.
Donnie gestured dismissively, “What we want is a healthy Breton Bank, not one riddled with holes. If Breton Bank falls into desperation, it could very likely trigger a bank run, and as you know, a bank run can be a devastating blow to any bank!”
Donnie also had his own thoughts on the matter.
Robert’s idea was naturally more cautious, but it wasn’t necessarily the best fit for Donnie. Besides, Donnie still held two aces in hand against Breton Bank. If by this time Dick had not sold his shares in Breton Bank, then that would be the moment for Donnie’s real thunderous strike.
Once Robert and the others understood Donnie’s intention, they realized that making Breton Bank riddled with holes would indeed make it easier for them to acquire the bank. However, as a bank operates on its reputation, if Breton Bank’s credibility faced a major crisis, even if they took over Breton Bank in the future, it would take a significant amount of time to repair the lost credibility.
“Send out invitations to Breton Bank’s shareholders and Dick, invite them to be our guests in Atlantic City!”
