In his office, Saeheon and Yoonshin sat side by side at the visitor table. They were in the middle of a private pre-meeting regarding the acquisition procedures for Youngjin Construction. Yoonshin had the lowest seniority on the special team, so he had to take charge of schedule management on top of his main duties. Since it was his first time doing this, fearing he might make a mistake, he had sent an SOS to him. In the end, it looked like Saeheon, the one who had ordered this task, was helping him personally.
Documents were piled high all around, and three laptops were connected and set up in front of them. While Yoonshin stared at the monitor screen placed in the center, Saeheon flipped through the papers, committing specific figures worth watching to memory. Then they both reached for the cups beside their respective chair arms at the same time. But the problem was that the two cups were almost touching.
Their fingers brushed. Their gazes, which had been immersed in their respective domains, finally turned toward each other. Embarrassed, Yoonshin pulled his skin away first; Saeheon conspicuously intertwined their fingers further.
“Why pull away?”
“It’s not that I pulled away. I was letting you drink first if you’re thirsty.”
He stared at Yoonshin with a dissatisfied expression, then withdrew his hand belatedly as if conceding a move. Soon, his long throat moved up and down very slowly as he drank water.
For several days, Saeheon had been like this the whole time. There had been an odd friction every time they interacted professionally. It seemed he felt an impulse to tear down the boundary between work and private life, though it really didn't suit him. He was shaken by his confession. As that feeling transferred to Yoonshin, he somehow felt pleased. He burst into a short laugh, then hid the lingering traces of his smile lest he be caught, and opened his mouth.
“I’ve almost secured the letters of intent from potential buyers other than Taesan Construction. The deal structure, transaction schedule, and acquisition intent are roughly recorded here. But since I obtained this through back channels, half of it is hearsay. Wouldn’t it be better to wait a bit and have the meeting with proper information?”
As Yoonshin said this, pointing at the monitor screen, Saeheon immediately shook his head.
“LOIs don't have legal binding force anyway. NDAs or confidentiality agreements are important... According to my intel, they haven't exchanged those with anyone yet. Other law firms are probably doing the exact same thing as us right now. If we're going to strategize, we're short on time even if we start now. Just go with it.”
“Don't they usually submit them together with the LOI?”
“Usually, yes. The sell-side advisor has already distributed the IM[4]. Yet the candidates are all lukewarm despite a tasty meal laid before them. This means it hasn't been formalized at the company level yet, meaning this acquisition bid is noisy here and there, but practically nothing has progressed. What does this mean?”
“That everyone is hesitating.”
He snapped his fingers.
“Rumor has it Taesan is going to call a higher price than expected.”
“They're being cautious because if they show interest, the acquisition price might go up even further.”
“Taesan has the highest probability, but we can't be optimistic about everything. We have to assume all scenarios. We go our own way, but instead of waiting for other firms to drop out, we need a strategy to make them fall off. That's the job of the corporate team seniors, but I'll give you a chance too. Come up with a defense strategy against Taesan and bring me the first report. By Monday next week, 9 AM. If it's any later, I'll throw it out even if you submit it.”
“Understood. Ah, by the way. How about shaking up Youngjin Construction once before the due diligence?”
“Don't be naive. I've been doing this for years, and no matter where, the opposing company hates me. If I move directly...”
Saeheon, who had been speaking antagonistically, abruptly closed his mouth. He seemed lost in thought for a moment, then soon changed direction, apparently deciding it was worth a try.
“We've been taking a different approach than my usual style of strong-arming from the start on this project, so they'll be preparing for that too. I suppose I need to meet them in person, pretend to jab them in the ribs, and sow some operational confusion.”
The moment the conclusion was reached, Saeheon pressed the intercom button and summoned Secretary Tak.
—Yes, Attorney.
“CEO Jo Wonik of Youngjin Construction. I'd like to meet him separately. Very secretly.”
—Just the two of you? He'll be cautious. One wrong word and he'll have your weakness in a heap. He probably won't come out. Unless you come alone, Senior