The news of Wang Xiaolong from Jiangzhou initiating a tender offer to acquire shares of Beijing's Yang family-controlled listed company instantly sent shockwaves through the stock market, the political circles, and the general public!

The two parties involved in this acquisition news were: on one side, a fiercely rising business magnate enjoying great success, possessing immense financial backing; on the other, an established, deep-rooted power in Beijing with colossal foundations.

Amidst the violent stock price fluctuations, certain interested parties couldn't help but wonder: what game is this truly about? When forces and interests align among the nation's elite, such displays are rarely so spectacular. Is this a war without smoke, or a perfectly choreographed duet?

A tender offer, as the term implies, is an offer made by an acquirer to the shareholders of a target company, declaring a willingness to purchase their shares under specified terms. The acquirer can be an individual or a corporate entity. A key characteristic is that the tendered shares represent a significant proportion of the total outstanding shares. The offer price is usually notably higher than the market price, and the terms include an upper and lower limit on the number of shares to be acquired, with the offeror possessing the capacity to purchase the committed shares.

The stock of "Tongyuan Nonferrous Metals" has a total share capital of 5,088,000,000 shares. Its current market value stands at 16.80 yuan per share, totaling slightly over five billion shares, with an aggregate value exceeding 85 billion yuan.

The Yang family holds the position of the largest shareholder in this stock, controlling 32.5% of the shares. Although this falls short of the 50% needed for absolute control, it still constitutes a relative controlling stake.

For Wang Zhuo to gain control of this stock, he would need to acquire shares exceeding the Yang family's holding, requiring a colossal fund of at least 30 billion yuan—a move absolutely qualifying as one of the biggest, most massive maneuvers in the Chinese stock market in recent years.

As the national temperature gradually warmed following the New Year, Beijing, however, was swept by a bone-chilling wind, biting and sharp against the face.

In Gaoshui Well Hutong, by the imposing gatehouse and within the quadrangle courtyard, the Yang family was holding a round-table meeting.

The last time the family gathered so completely was over a year ago, following the incident where Yang Feng was beaten by Wang Zhuo into a state of schizophrenia. Even after the power reshuffle last summer, which saw a slight decrease in the Yang family’s overall strength, no meeting had been called on such a grand scale.

As a sprawling, deeply intertwined 'Red Family' with deep ties across both official and commercial sectors, the Yangs enjoyed the inherent advantage of an established lineage. Their network and resources in both politics and business were simply unattainable for newly emerging families. Qin Xue, the patriarch of the Qin faction, was one of the sixteen members of the Politburo; Yang Yujiang of the Yang family was just one step behind, among the more than one hundred alternate members.

In terms of sheer rank, Qin Xue, who was just below the standing committee members, was a full echelon ahead of Yang Yujiang. Yet, in terms of seniority and deep roots, the Yang family, with its numerous branches, far eclipsed the Qin family, which had only one line of descent carrying on the legacy.

However, it was this younger generation figure, Qin Xue, who had now surged ahead. Yang Yujiang was a full fifteen years his senior. While he no longer had to defer to him, he was forced to acknowledge the gap in power; Yang Yujiang had become the arm, and Qin Xue was now the powerful thigh.

"Damn it, this is an outrageous provocation!"

With a loud bang, someone slammed their hand heavily onto the table. This person was Yang Yujiang’s cousin, Yang Yuyuan, who was one of the key managers of the Yang family's various enterprises and the current head of Tongyuan Nonferrous Metals.

Like many traditional private enterprises, the Yang family’s control over Tongyuan Nonferrous Metals was secured through the joint efforts of several family members. After all, a massive sum nearing 30 billion yuan was no small figure even for the Yangs, and it was impossible for a single family member to achieve control while also distributing the resultant benefits equitably.

"This is simply unacceptable," Yang Yuxi, Yang Yujiang's sister, also spoke out indignantly. "To gain control of Tongyuan Nonferrous Metals, one must mobilize at least thirty billion yuan. This is sheer fantasy! Which domestic entity can produce such a large amount of liquid capital instantaneously? And who dares to use so much money to acquire our Tongyuan Nonferrous Metals?!"

"Exactly, this is purely malicious disruption."

"I suspect they can’t actually raise that much money. Their goal is just to muddy the stock market, fish for a quick profit, and then vanish."

"I truly don't understand. With such a large float, and their acquisition being unlikely to succeed anyway, why bother causing this massive stir and making an enemy of the Yang family?"

As the crowd buzzed with speculation, Yang Yujiang cleared his throat lightly, and the hall immediately fell silent.

"Who said they couldn't possibly succeed in the acquisition?" Yang Yujiang surveyed the room.

"How is that possible?" Yang Yuxi immediately countered. "Yesterday's opening price was 16.80 yuan, and after a day of fluctuation, it saw a slight rise. This morning, it hit its daily limit right at the opening bell. Shengshi Wangchao's offer price is 19 yuan. By tomorrow, it will likely approach that figure. At that point, who would accept the tender offer when the price is barely different from the trading price!"

"Mom, that’s not how the numbers work," Yang Yuxi’s son interjected quietly. Seeing his uncle, Yang Yujiang, nod his chin, signaling him to continue, he raised his voice slightly. "Yesterday’s rise and today’s limit-up are largely influenced by someone riding the trend, following the main players. But the shareholders understand: if they dump their shares onto the market," that would drive the market price down. Moreover, Wang Zhuo cannot allow the circulating supply price to rise too high if he wants to maintain the attractiveness of the tender offer. Therefore, the stock price is likely anchored around this area."

"I don't understand any of this, but..."

Yang Yuxi’s sentence was cut short as her elder brother impatiently waved his hand. "If you don't understand, then just be quiet and listen. Don't speak."

Yang Yujiang's icy demeanor caused everyone's spirits to sink. It seemed the severity of the situation exceeded everyone's initial expectations, and perhaps things were not as optimistic as they had hoped.

"I know what you all think," Yang Yujiang said coldly, looking around. "You look down on Qin from Jiangzhou, seeing him as a junior, merely a rising star. You also look down on Wang Zhuo—'that Wang fellow,' 'that little bastard'—those are the names you call him. But I tell you, this time, you are all profoundly mistaken!"

He slammed the table, emphasizing his tone. "You must think that Shengshi Wangchao lacks the capacity to take over Tongyuan Nonferrous Metals, right? Three hundred billion yuan—that's a move no one can pull off, isn't that it? And I, an alternate committee member, am a very high-ranking official, aren't I?"

His slightly darkened face showed a trace of frustration born of exasperation. He continued, "You underestimate the heroes of this world too much! Qin Xue's father is a founding marshal, the only one still alive from the New China! While Wang Zhuo is indeed young, he carved out a vast empire in the business world in just three and a half years with nothing but his bare hands! Which one of you could achieve that?!"

"That’s only because he latched onto the Qin faction, that big tree, isn't it?" Yang Jian couldn't help but mutter under his breath.

Yang Yujiang had no sons, only two daughters who were already married. Yang Jian and Yang Feng were the sons of his younger brother, and since the brother passed away ten years ago, these two shared a status within the family akin to that of future successors.

However, Yang Jian went into commerce, while Yang Feng, who was supposed to enter politics, suffered that terrible incident, becoming a patient with schizophrenia whose mental state fluctuated, making daily work impossible—effectively severing a main artery of the Yang family.

If Yang Yujiang hadn't had a beloved grandson who was mature beyond his years and looked poised to inherit his political legacy, after Yang Feng’s breakdown, Old Yang—even if it meant a final, desperate clash with the Qin faction—would have struck at Wang Zhuo. In that scenario, events would have already veered in a completely different direction.

"Latching onto a big tree?" Hearing Yang Jian’s words, Yang Yujiang let out a cold laugh and looked at him disdainfully. "Yang Jian, then tell me. Our Yang family gave you such a solid foundation; you shouldn't be any less capable than Wang Zhuo. Why haven't you achieved any dazzling accomplishments for us to see?"

Yang Jian was instantly struck dumb. Yang Yujiang's gaze swept across the faces of the younger generation who had shown similar dissatisfaction. One by one, they lowered their heads in awkward shame.

"Ahem, Brother," Yang Yuxi tried to smooth things over. "Some people's luck is simply enviable. Stop lecturing for now; let's discuss the main issue. Does Shengshi Wangchao truly have the financial muscle to control our Tongyuan Nonferrous Metals?"

Yang Yujiang's expression softened slightly, and he gestured toward his nephew with his chin. "Yang Jian, what is your take on this matter?"

Everyone turned their attention to Yang Jian, waiting to hear his response.

After some careful consideration, Yang Jian analyzed, "If we speak of absolute financial strength, Shengshi Wangchao might not have it, but I believe Wang Zhuo does. His Wangchao Wuliang has a very strong capacity for transferring capital. He's been playing his own futures game over at the Taoyuan Copper Mine... although this has become a joke among legitimate businessmen and hot money players, the financial capability is undeniable."

"He can pull out over thirty billion?" Yang Yuxi snorted, clearly unconvinced.

Yang Yujiang and Yang Yuyuan remained silent. Although Yang Yuyuan was the steward of Tongyuan Nonferrous Metals, the actual benefits accrued to the branch comprising Yang Yujiang, Yang Yuxi, and Yang Jian. Yang Yuyuan’s share of the profits was not substantial.

"Auntie, let me finish," Yang Jian smiled calmly and continued. "Wang Zhuo does possess the capacity to raise over thirty billion; that is correct. But having the money doesn't mean he can afford the price of doing this. Over-draining Shengshi Wangchao and Wangchao Wuliang will put his cash flow under extreme strain. Furthermore, to my knowledge, he is someone who rarely deals with banks—he believes in funding his startups entirely on his own—and he lacks friends with substantial capital. In other words, he can neither borrow from banks nor ask friends for loans. He is very likely fighting this battle alone."

"Xiao Jian’s analysis is sound," Yang Yuyuan nodded calmly.

A capable younger relative chimed in, "Xiao Jian is right. I also heard that Wang Zhuo, that little... Wang Zhuo doesn't have many strong allies; on the contrary, he has made quite a few enemies."

Seeing that Yang Yujiang remained silent, the others began to discuss amongst themselves.

"Greed makes a snake swallow an elephant. Taking over our Tongyuan Nonferrous Metals is impossible; he just wants to bite off a piece of fat meat."

"I don't think so either. Perhaps the Qin family will find some funds for him through other channels. We should remain cautious."

"But how many Tongyuan Nonferrous Metals shares does he hold right now? That remains a mystery."

"This task is harder than climbing to heaven. Many of those shareholders have relationships with our Yang family. If we make a call, they certainly won't transact with that Wang fellow. His offer only covers forty percent of the float; we'd be lucky to buy ten percent from that pool."

Only Yang Ru, who had remained silent throughout, noticed the gradually increasing look of disappointment and irritation on Yang Yujiang's face. A strange, sudden feeling of dread struck her heart. Could it be that everyone had underestimated that Wang Zhuo?