Chapter 396: That's a Fatal Blow for Rinto!
For Alba, the current situation was no longer about discussing right or wrong, nor was it about investigating whether Rinto had intentionally targeted Li Tang or not.
Simply reaching an understanding with Li Tang, or at least preventing the negotiations from collapsing, was enough to be considered a success.
Therefore, making appropriate concessions was entirely acceptable.
Moreover, the condition Li Tang proposed was, honestly, not excessive at all. At least from Alba's point of view, it wasn't difficult to manage. All they needed was to calm Leyton down a bit publicly and ease the media pressure on Li Tang temporarily. Once the Gala Aluminum acquisition was successfully completed, they could always settle accounts later.
And regardless of whether Alba wished to admit it, the truth was that Rinto's reputation in the iron ore industry had never been particularly good.
The history of iron ore was one of brutality—survival of the fittest and elimination of rivals. From the 1960s until today, Rinto's growth was essentially a history of continuously suppressing and eliminating its competitors. No matter how ruthless, dark, or even righteous their methods were, one could not deny that Rinto was a great company.
People might forget the things they did in the past, but they always saw their present glory.
Restricting Li Tang was a shared goal among Rinto, BHP Billiton, Vale, and other iron ore monopolies. They couldn't truly abandon this objective.
However, Rinto could temporarily suspend its actions.
"I'm willing to cooperate fully with your demands!" Alba explicitly expressed his stance to Li Tang. "I've heard earlier that here in Canada, whether in Parliament, certain media circles, or even some of the general public, there's been deep misunderstanding towards you, as well as about the Mali River iron ore development. But I believe the Mali River Iron Ore project will certainly benefit the local economy and global industrial growth! No matter what others say, I genuinely believe this project is advantageous—not only for you personally but also for everyone involved!"
"Rinto supports my position?" Li Tang asked with a faint smile.
"Of course!" Alba nodded firmly. "At Rinto, iron ore is our core business as well, and we also have subsidiaries here in Canada. We truly understand your situation. We deeply empathize! To support your development of the Mali River Iron Mine, Rinto is willing to provide every assistance we can!"
"Good."
Li Tang had clearly anticipated this moment. Rather than just exchanging empty words, he stated directly, "Since Rinto is being so generous, then, as we say in my country, it would be rude to decline. How about this—you get Leyton to go on TV and publicly admit that his comments about me and the Mali River Iron Mine were wrong, and make a formal apology!"
"This..." Alba appeared troubled. "Leyton is the leader of the New Democratic Party and also a famous public figure in Canada. Honestly, I know Leyton, but I can't just order him around like that."
"You see? You're not sincerely interested in becoming friends with me!" Li Tang leaned back in his chair, casually crossing his legs.
This posture clearly conveyed his dissatisfaction with Alba's words, indicating that he was ready to abandon the negotiation at any moment.
"We can't order Leyton, but I have a good relationship with him. I can try to persuade him," Alba quickly interjected.
"Just try?" Li Tang sneered lightly.
"I'm reasonably confident I can persuade him."
"How confident?"
"At least fifty percent."
"Alright then." Li Tang nodded, "Once you fulfill your promise, we'll discuss other matters."
He stood up as if preparing to leave.
"Li!" Alba grew anxious, stood up quickly, and reached out toward Li Tang. "Please, sit back down. Our conversation isn't over yet."
"As far as I'm concerned, there's no point in continuing this conversation," Li Tang responded, hands in his pockets, arrogance clearly visible.
His attitude clearly demonstrated he had Rinto and Alba completely under his control, cutting off any possibility of clever maneuvering or further compromise.
"I promise, immediately after this meeting, I'll arrange a meeting with Leyton!" Alba reassured, attempting to calm Li Tang down. "Believe me, Leyton will publicly apologize to you!"
Although Alba said this confidently, neither Alba nor Rinto truly had the power to order Leyton around.
Rinto conducted extensive business in Canada, in iron ore, aluminum, nickel mining, and other sectors. Strictly speaking, they were guests here. With so many businesses dependent on local cooperation, they naturally wouldn't dare to dictate terms to local politicians.
However, they had their own strengths and methods—primarily through financial influence. Money could move mountains!
Regardless of Leyton's feelings or reactions, at this point, they had no choice but to push ahead boldly and make this incredibly unreasonable request.
"Seems we share similar ideas. There's more we can discuss," Li Tang smiled and sat back down.
"Li, can we start addressing the main issue today?" Alba urgently asked. "You're Gala Aluminum's largest shareholder, holding more than fourteen percent of the shares, giving you decisive influence over the acquisition proposal."
"Gala Aluminum's board has already agreed to our offer. The only thing lacking now is your approval!" Erick glared at Li Tang, barely concealing his impulse to punch the man's face. Yet, acting on this impulse would achieve nothing.
Li Tang knew exactly what they were anxious about—this was his bargaining chip. If he played his hand too early, he'd lose leverage.
"I'm optimistic about Gala Aluminum's future and the prospects of the aluminum industry," he stated calmly.
This was directly opposite to what he'd told Richard, Wiggins, and the others earlier. Fortunately, Alba and his group didn't know the content of his previous conversation with Gala Aluminum's senior executives.
"What do you mean by that?" Alba sensed something unsettling.
Rinto was also optimistic about the aluminum industry's future growth—that's precisely why they had made such an enormous bid, putting everything on the line to acquire Gala Aluminum.
"I bought Gala Aluminum shares because I wanted to invest in its growth!" Li Tang's words obviously contradicted his true intentions, but this was simply his negotiation strategy. "Gala Aluminum is increasing investment in China, expanding its operations. Their market share is steadily increasing. I believe China's economy will continue to grow robustly, boosting overall industrial and raw material industries."
Everyone knew China's economy was rapidly expanding, driving global economic growth. Alba knew this, and he previously speculated that Li Tang invested in Gala Aluminum precisely because of its potential in the Chinese market.
But accepting this viewpoint would put their acquisition in a passive position.
"I don't want Gala Aluminum acquired by anyone!" Li Tang finally declared, instantly causing all Rinto executives' faces to pale.
These were precisely the words they least wanted to hear.
"You understand my influence in China," Li Tang continued coldly. Every word he uttered seemed like a blade stabbing at the hearts of his listeners.
"The largest aluminum company in China is Hua Aluminum Group. I've previously assisted Hua Aluminum Group in discovering a bauxite deposit and successfully partnered with them on several exploration projects."
He continued deliberately, step by step. "I am indeed the largest shareholder in the investment company holding Gala Aluminum shares. But as you probably know, the second-largest shareholder is Hua Aluminum Group, holding nearly thirty percent of the company."
Li Tang raised his eyes sharply, his fierce gaze causing Alba, Erick, and others significant discomfort.
Everyone was aware Li Tang had ulterior motives behind his Gala Aluminum investment. But what could they do about it?
Seeing everyone silent, Li Tang pressed further, "Hua Aluminum is even more optimistic about Gala Aluminum's prospects than I am. As we all know, aluminum is a capital-intensive, technology-intensive industry. Gala Aluminum possesses high-end smelting techniques, unique aluminum rolling technologies, and production lines. Expanding Gala Aluminum's investment and market share in China benefits both parties. Such an investment would not only generate profits but also significantly advance China's aluminum industry technology."
This argument sounded logical, but it was exactly what Alba didn't want to hear.
"So, you'll vote against the Gala Aluminum acquisition?" Alba asked with difficulty. Although he was reluctant to admit it, Li Tang's words strongly hinted at this possibility.
"Unless something unforeseen occurs or I find a compelling reason to change my mind, I will definitely vote against it!" Li Tang stated bluntly, without hesitation.
His determination appeared unwavering, as if he'd reached this conclusion long ago.
Alba, Erick, and the others collectively fell into despair.
The worst-case scenario had come true—Li Tang was explicitly against their acquisition!
Yet, in Li Tang's words, Alba sensed a tiny opening—a possibility deliberately left by Li Tang himself.
"You mentioned that you'd reconsider if presented with a convincing reason," Alba said cautiously, controlling his frustration. "Can I ask what kind of reason might persuade you?"
That was the crucial point of this negotiation.
"I honestly don't know," Li Tang carefully withheld his greed and ambition.
"But we've already agreed to one extremely excessive condition of yours!" Another Rinto executive exploded in anger, unable to maintain Alba's composure. "Asking us to silence Leyton for you is already outrageous!"
"You're going too far!"
"Do you really think influential members of the Canadian Parliament, like Leyton, are easy to manipulate?"
"This is an unacceptable request!"
Li Tang calmly accepted their accusations without anger or anxiety.
Seeing his side losing control, Alba swiftly glanced around, silencing his colleagues with a severe look.
"I've already promised to address Leyton's public statements and the Mali River issue. Trust me, I'll do everything possible," Alba said decisively.
He clearly understood the situation—the initiative firmly remained in Li Tang's hands.
They had no other choice.
Provoking Li Tang would only backfire disastrously.
"Mr. CEO, you truly are an old friend of mine—loyal and generous!" Li Tang gave a thumbs-up with a friendly smile.
Yet again, the conversation slipped into a dead end.
Alba was fully aware that Li Tang was laying a trap for them, but what frustrated him was not knowing exactly what shape or form the trap took.
Would stepping into it mean falling into a bear trap?
"Do you want more money?" Since Li Tang didn't openly reveal his intentions, Alba was forced to probe cautiously, step by step.
"How much money do you think would satisfy my desires?" Li Tang asked in return, smiling calmly.
Considering Li Tang had leveraged as much as four billion Meiyuan to acquire 14.4% of Gala Aluminum shares, Alba clearly understood money wasn't Li Tang's primary concern—at least, not ordinary amounts.
"Do you want shares in Rinto itself?"
During internal discussions among Rinto's board about acquiring Gala Aluminum, several board members had proposed using combined methods of payment—including part cash, part equity swaps, and partly through bonds—to alleviate heavy financial pressure on the group.
However, after extensive debate, to ensure absolute success, they finally settled on a full cash offer. Cash was always more attractive to the other party.
"Rinto indeed has promising prospects, but I already own Lianying Mining. I don't really need to invest in more iron ore companies," Li Tang stated plainly, not hesitating to flaunt a little. "In my opinion, Lianying Mining's potential far exceeds Rinto's!"
When Alba heard Lianying Mining mentioned, he suddenly had an idea. "You want a larger iron ore transportation agreement? Earlier, Lianying Mining signed a three-year agreement with us to transport up to sixty million tons of iron ore. But considering Lianying Mining's significant production increase this year, you're likely to use up your quota very soon. Once the transportation contract expires, and your railway system isn't operational yet, Lianying Mining would face significant operational disruption."
Rinto's closest prior cooperation with Li Tang had involved the Pebble Project.
Rinto obtained the Pebble Project—solidly establishing the foundation of their copper division—even though current project development faced major setbacks. Regardless, no one could deny the enormous potential of this globally significant undeveloped mineral resource.
If Pebble were successfully developed, Rinto's copper division would achieve significant growth. Iron, aluminum, and copper—the company's three main pillars—would soar simultaneously, propelling Rinto forward at extraordinary speed.
Many people initially couldn't understand why Li Tang would quickly sell such a rare, world-class mineral property—and for a relatively modest price.
Some called Li Tang foolish, claiming he lost significantly on this deal.
But looking back now, aside from the direct gain of 330 million Meiyuan, Li Tang received something invaluable—the transportation agreement.
Without this sixty-million-ton transportation contract, Lianying Mining's iron ore output would've remained trapped at the mine due to delays in building its railway system. Without a formal agreement, neither Rinto nor any other competitor would've permitted Lianying Mining to use their railroads.
It was precisely this transportation agreement that rescued Lianying Mining from disaster. Without it, no matter how inflated or optimistic its future might appear, the enterprise would've remained just an empty shell, unable to realize its potential.
All shareholders of Lianying Mining recognized Li Tang's decision to secure this seemingly costly agreement had, in fact, been exceptionally wise.
Thus, Alba naturally assumed that Li Tang intended to negotiate further benefits for Lianying Mining, hence why he was being difficult.
But Li Tang shook his head: "Lianying Mining's railway system is about to become operational. I appreciate Rinto's assistance these past two years—helping us transport millions of tons of iron ore to the port. I'm genuinely thankful!"
"So, what exactly do you want?" Alba had no idea how to deal with Li Tang anymore.
Rumors always claimed Li Tang was a mysterious, inscrutable businessman. Even though Alba had met him several times, negotiated frequently, and even collaborated, he still couldn't read this enigmatic young man from the East. Alba couldn't even determine whether Li Tang had powerful and mysterious forces backing him, or whether he was simply playing some kind of magic trick.
What did he truly want?
Li Tang smiled gently.
Clearly, the other party was becoming desperate, speaking plainly now.
"Honestly, I don't particularly want anything. I simply intend to invest in Gala Aluminum," Li Tang said lightly, as if he genuinely wasn't concerned about Rinto's offer—despite it totaling 38.1 billion Meiyuan at 101 Meiyuan per share.
Alba grew visibly irritated, staring silently at Li Tang, unsure how to proceed.
Finding Alba's penetrating gaze somewhat awkward, Li Tang shrugged his shoulders and joked lightly, "If you're willing to sell me Hamori Iron Ore Company from your group, I'd gladly accept!"
Bang!
Alba completely lost his patience, slamming his palm heavily onto the table with an ear-splitting crash.
He clearly couldn't bear Li Tang's audacity any longer.
"You're insulting me, mocking us, and wasting all of our time!" Alba roared furiously.
It wasn't surprising he felt so outraged. In truth, Rinto itself was essentially a holding company without direct business operations—its strength came from numerous subsidiaries worldwide. Among these subsidiaries, Hamori Iron Ore Company was unquestionably Rinto's absolute core, their main pillar.
Rinto's iron ore division generated roughly a third of the group's annual revenue, yet its net profit accounted for over 60% of the entire group's profits. Clearly, iron ore operations were of paramount importance to Rinto.
And within the iron ore division, Hamori Iron Ore Company was undoubtedly the flagship subsidiary, producing over 120 million tons of iron ore annually. Its strategic significance was self-evident.
According to Li Tang's logic, transferring Hamori Iron Ore Company to him meant removing Rinto's very backbone. It was akin to delivering Rinto a death blow!
Was this something any reasonable person would suggest?
No one present believed Li Tang was a fool. He clearly understood the significance of Hamori Iron Ore Company—not only for Rinto but also for the global iron ore industry. Thus, Li Tang's outrageous demand seemed nothing short of insane.
Therefore, everyone glared fiercely at Li Tang. Had Alba not indicated restraint, his subordinates would've lashed out at Li Tang furiously again.
"Just joking—no need to take it so seriously!" Li Tang laughed, completely unbothered by how deeply offensive his statement had been to the Rinto delegation.
However, often enough, people reveal their true desires through casual jokes. From Li Tang's seemingly playful remark, Alba sensed an extremely dangerous underlying message.
Clearly, Li Tang truly had intentions toward Rinto!
His rushed investment of four billion Meiyuan into Gala Aluminum, buying shares amidst uncertainty and turmoil, had undoubtedly been premeditated.
Regardless of whether Rinto, BHP Billiton, Vale, or Alcoa had ultimately won the bidding for Gala Aluminum, today's negotiations would've forced whoever succeeded to face Li Tang's ruthless demands.
Li Tang was a formidable opponent!
Alba increasingly felt that Li Tang was exceptionally difficult to handle. Even without reporting back to Rinto's board of directors, Alba instinctively understood where Rinto's red lines were drawn.
Therefore, Alba shook his head firmly. "We will absolutely not transfer ownership of Hamori Iron Ore Company!"
"You own 100% of Hamori Iron Ore Company. Honestly, that's not particularly conducive to the company's future development," Li Tang responded casually. "Looking at your other assets, you've usually partnered with foreign steel corporations, which helps relieve financial strain and secure iron ore sales."
Pausing briefly to meet Alba's darkening gaze, Li Tang continued, smiling faintly: "I'm not asking for the entire Hamori Iron Ore Company—just a small portion. Perhaps 40% would suffice?"
Forty percent of Hamori Iron Ore Company shares?
Had it been legally permissible, Alba wouldn't have hesitated to strike Li Tang dead right then.
This absurd request was even more excessive than demanding Alba mediate with Leyton. Hamori Iron Ore represented their absolute core interest—untouchable and non-negotiable!
"Absolutely no deal!" Alba declared adamantly, his voice icy and resolute. "If your intentions revolve around Hamori Iron Ore Company, our discussion today has become pointless."
It was an explicit threat.
Li Tang wasn't intimidated; he quickly dropped his smile, shrugged indifferently, and said dismissively, "I already told you, I don't wish for Gala Aluminum to be acquired. You're the one forcing me to propose conditions. Since you've now concluded there's no point in further discussion, let's not waste time."
He immediately stood, turned on his heel, and exited decisively, leaving no room for hesitation.
Watching Li Tang's departure, Alba remained seated, completely immobile, his expression dark as ice.
This first confrontation with Li Tang had unfolded exactly as anticipated—far from smoothly.
Although Alba felt immense frustration and disappointment, he had mentally prepared himself beforehand, so he refrained from violently overturning tables or chairs.
"Li Tang is truly outrageous!" Erick cursed angrily.
"He did that intentionally," Alba responded coldly.
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