She played with the stem of her water goblet as she watched him. “You’ve taken many risks over the years as far as I can tell. You changed the strategic direction of your company and launched out on your own with very few friends or goodwill in the corporate world. Still, you pressed on and have made great strides over the last few years. In fact, you have been acquiring businesses at a pace that many consider risky. You told me that you are attracted to risky ventures.”
“Risks of my own choosing. Not of someone else’s. Do you understand the magnitude of what you’re proposing? JJ Inc. and Lamport Electronics are two major electronics companies. Integrating the operations and the two different cultures is likely to be a massive headache. I know firsthand because that’s what I experienced with the Harper Construction and Granite Construction Company merger.”
He took a deep breath, then continued to hammer home his point. “And those synergies and economies of scale you referenced earlier come with some downsides, like layoffs. Have you considered the level of redundancies we’re looking at? Staff will have to be let go. JJ Inc.'s staff is like a family. Some employees have been there for 40 years. We’re currently working on minimizing job losses at JJ Inc. I won’t be able to achieve that so easily if a merger with your company is involved.”
Leiliana was momentarily stumped. This one wasn’t an easy fix. When it came to people losing their jobs and livelihoods, it was never comfortable or straightforward. No severance package, no matter how attractive, could compensate for the loss of a job.
“I believe we can work this out…” she began feebly.
“I’m not suggesting there aren’t potential benefits to the merger, but I’m not sure they are worth the tremendous risks involved.”
“Perhaps if the redundant staff have the right skill sets, we can redeploy them to our other subsidiaries. We may not be able to save every job, but we can try. The point is we want to improve efficiencies and ultimately make the companies the best they can be.”
“And make more money for you while doing it. Is that it?”
“Don’t act like you think money’s a bad word. You just spent a lot of money on JJ Inc. I’m sure you can use a capital injection right now. That’s what you’ll get if we purchase 51% of your shares.”
He laughed. “No way would I allow you controlling interest in the company I just purchased. Nice try, though.”
“So, you’re willing to consider selling a substantial amount of shares?”
“I’ll need to give it more thought.”
“When will you get back to me?”
“In a few days. I need to discuss it with my brother Patrick first.” He paused. “There is something you need to be aware of, though.”
She waited.
“Dot Judd has retained 10% of the shares in JJ Inc.”
This jumped her. “I thought it was a full acquisition.”
“It formed part of the negotiations with her. It is her father’s company, and I didn’t feel comfortable denying her request. The point is that if I decide to go ahead with the merger, you need to be aware that there is a third minority shareholder involved.”
Chapter 10
G abriel stood before a series of the most dreadful artwork he had ever seen. It featured upside-down heads. Ugly upside-down heads. No doubt the expressions of some tortured soul.
Noise drifted inside from the gardens as people talked, laughed, ate, drank, and generally seemed to enjoy themselves at his step mother’s annual garden tea party in the Hamptons.
Gabriel glanced around as Patrick walked into the room, jiggling a glass of something on the rocks. Most likely alcohol. Gabriel shook his head. It looked like more and more Patrick was succumbing to the Walsh love for the bottle.
Gabriel jutted his chin at the glass. “What have you got there?”
“Gin and tonic. Want me to fix you one?”
“It’s a little early in the day for that, isn’t it?”
Patrick roared with laughter. “Early at 4 o’clock in the afternoon. Not every Walsh man has chosen the life of a monk.”
He put down his glass on the coffee table and took a seat. “I didn’t know you were an art appreciator or whatever they’re called.”
“I’m not, but I was reading recently that artwork is one of the most common ways of laundering money. I recalled that Dad was an avid art collector. He frequently bought paintings and then sold them at auctions for exorbitant sums. I am guessing that these were purchased before he became a fugitive. I wonder if he was planning to launder money through these.”
Patrick scratched the back of his neck. “You shouldn’t say things like that, Gabe. It sounds like you think Dad never did anything legitimate in his life.”
Gabriel joined Patrick to sit in one of the beige leather chairs in the vast living room.
“I’m sure he did something legitimate,” Gabriel said. “For example, siring you.”
Patrick snorted a laugh and shook his head. “He was a good father to you, Gabriel.”
Gabriel didn’t offer a comment. Barry Walsh had lavished on him everything money could buy. Where he had failed at being a father was building a business on dishonest transactions and then implicating him in his dealings. That was the part Gabriel couldn’t seem to get past. Yet, he knew that he needed to deal with it. He needed to confront his issues with his father. But not today.
“Gabriel, how nice of you to join us.”
Gabriel looked up as the lady of the house, Lily Walsh, glided into the room.
Lily was what could best be described as the consummate socialite, known for her fashionable parties and contributions in politics and the arts. She was petite, barely five feet tall, but had a will of iron. Though in her early fifties, she could easily pass for a woman a decade younger due to a careful diet and exercise regimen.
“Lily,” he said, standing as she approached. He kissed the smooth alabaster cheek she offered him. “You look lovely, as always.”
She smiled. “Thank you, Gabriel. And you,” she waved her hand at his clothes. “Very suave…as always.”
He nodded his thanks.
“Well, do enjoy yourself. If you’ll excuse me, I have to make my rounds,” she said, floating away.
Gabriel resumed his seat as Patrick chuckled low.
“Seeing you two in action never fails to amuse me. You’re so careful with each other. It’s like the dance of two porcupines.”
“You have to admit we’ve come a long way. There was a time that all I could get from your mother was a look of disapproval.”
“I think she admires you. The way you’ve turned out.”
Gabriel gave a bark of laughter. “I guess the Irish whelp dad dragged home didn’t turn out so bad after all.”
“That’s not what I meant—”
“Relax, I was only kidding. Listen, Leiliana Lamport came to see me in Ireland this week.”
Patrick's eyebrows shot up. “Leiliana Lamport? Why?”
“She proposed a merger between Lamport Electronics and JJ Inc.”
“What did you say?”
“That I’d get back to her. I have my own thoughts about it, but I wanted to discuss it with you first.”
“I don’t think it is a good idea. A merger has its disadvantages, as you know. We experienced that firsthand with Harper Construction and Granite Construction Company.”
“That’s what I told her. I’ve been thinking, though, that having had that experience, we’ll know how to navigate an agreement this time around, so we don’t make the same mistakes. I’ve also been thinking that an alliance with Lamport Holdings could be good for us. It will not only increase our market share and profitability but also enhance our legitimacy.”
“We don’t need them for that! What makes them any more legitimate than we are?”
“Don’t be a clown, Patrick. You know that there are many out there for whom we remain pariahs and a name change and new direction hasn’t made a difference to them. What makes this
offer doubly attractive is that Lamport Holdings will purchase shares in JJ Inc. Given our heavy indebtedness, that’s money we need.”
Patrick took a gulp of his drink and stared out past the French doors into the garden where guests were strolling around. “We don’t need to worry about money at the moment. A.L. Finance, the same resource who financed the acquisition of JJ Inc., is still available to us.”
“Well, I don’t love those terms, as you know. Repaying $1 million per month is a real drag on our cash flow. Plus, I’m still very uncomfortable that we can’t get more information about them and their funding sources. The sooner we can repay them and get out, the better.”
Patrick looked down into his glass for a moment. “If you feel that strongly about this merger with Lamport Holdings, there is nothing I can do to stop you. You are the majority shareholder and CEO, after all. My only word of caution at this point would be to let someone else do the negotiating. You may be putty in Leiliana Lamport’s hands, and we don’t want to end up getting the dirty end of the stick.”
“Unfortunately for you, little brother, what I intend is the exact opposite of what you propose.”
~*~*~*~
“I’ve given your proposal some thought, and I’ve decided that I want to join forces with you. I’m willing to allow JJ Inc. to merge with Lamport Electronics.”
Leiliana broke out in a smile as Gabriel spoke to her via video conferencing.
“Brilliant!” she said.
He held up a finger. “However, we need to agree on one thing first.”
Her smile faltered. “What’s that?”
“I would like us to spend some time discussing what we each want from this merger. Our vision and mission for a newly merged company, if you will.”
“That’s acceptable. I will comprise a team to discuss—”
“You don’t understand. I’m saying that I want us, only the two of us, to meet and discuss this before bringing in the team.”
Leiliana blinked rapidly. “Just the two of us?”
He nodded. “Aye.”
“Why?”
“You brought this proposal to me yourself. You didn’t delegate it to anyone else. You braved yourself to pursue me relentlessly and then to fly all the way to Ireland to convince me about this merger. I chose to accept the proposal because of all that you said. I’m not going to allow you to turn me over to someone else at this point. It is vital to me that you work with me on this. If you don’t, then I’m not going to agree to it. And that’s non-negotiable,” he concluded firmly.
Leiliana was flummoxed. She had carefully planned out everything in her mind. She had decided that she would handpick a team of experts in their fields to negotiate with Walsh Enterprises. While she would have oversight of the process, she would keep a healthy distance. The reason was quite simple. She recognized a deep attraction to Gabriel that had not abated during the months of hostility between them. She couldn’t run the risk of developing feelings for him while working on a merger and have it affect her judgment. So, how did she get out of this now? The man seemed so rigid in this particular demand.
“But we’ll need experts to handle negotiations. A legal team and technical advisors for one,” she said quickly. “I don’t have those kinds of skills.”
“Those experts can be accessible to us whenever we need them.” He leaned forward, placing his elbows on the table. “But, like I said before, I want us to be the ones developing our strategic vision for the new company. This will only work if you’re going to be a part of the negotiations. I’m not budging from this point just so you know. So, if you don’t agree with me, we can end discussions right now.”
“Here’s the thing. This approach is completely unorthodox. Normally these negotiations are conducted with a team.”
“I am an unorthodox fella, what can I say?”
“Nonetheless,” she continued, “what you are asking can work if we agree that our meetings will focus on arriving at general agreement on certain key points. Following that, negotiations will be turned over to the team, which will include our lawyers, financial and HR experts, and so on.”
“Sounds good.”
“However, there are many projects I’m involved with at home, I can only spare a short time for this process. How much time will you need?”
“Two weeks should do it.”
“Two weeks! That’s rather a long time, Gabriel.”
“This is a big deal, Leiliana. These things can’t be rushed. There are so many elements to a merger like this that we need to consider and agree upon. Having gone through this before, I know what I need to address this time around. It can be pretty intensive. We will do this properly or not at all.”
She sighed deeply. “Very well. I accept your terms.”
“There’s another thing. I think we should retreat. Get away from the phones and work demands and just focus on this.”
She tilted her head to one side and watched him suspiciously. “What do you have in mind?”
“I’m inviting you to come to Dublin. There’s a nice hotel in Howth where you can say. My home has a large study where we can meet during the day and have our discussions.”
“I don’t know about that, Gabriel…”
“What’s the problem?”
“It just seems as though this is becoming more and more…unorthodox.”
“Innovative.”
“Innovative?”
“Aye. Weren’t you listening to my speech that night?”
She gave him a wry look.
“This is exactly what I spoke about. The need to be innovative. Why must the default position be the conventional one? We are discussing something grand and revolutionary!”
“I don’t think a merger is anything grand or revolutionary.”
“A merger between a small homegrown company and a multinational one certainly is. We are seeking to merge two different cultures, and you tell me this isn’t revolutionary. This requires clear thought. We can go anywhere you like. We can go to Paris, Beijing, the Caribbean, Africa, anywhere in the world. I just suggested Howth because I think it’s a beautiful place, and I want to show it off.”
“I suppose I can go there…I’d have to rearrange a few things as I didn’t plan on leaving London, but I expect we can make it work.”
“Grand!” he said, smiling broadly. “So how soon can you come over?”
She pulled out her phone and looked at upcoming meetings and pondered what she could rearrange to meet this new development. At length, she looked up at him. “Monday the fifteenth.”
“That’s almost three weeks away! Can’t you make it any earlier?”
“No. Seeing I’m going to be gone for two whole weeks, there are certain loose ends I need to tie up here first.”
“You really need to delegate more,” he admonished.
She narrowed her eyes on him. “How about I begin by delegating someone to work on this negotiation?”
“Now, now don’t get testy,” he chided. “When I say delegate more, I mean delegate appropriately. It’s not everything you should delegate.”
“Thank you for that clarification.”
“I’ll collect you from the airport when you arrive. Just shoot me your flight details.”
Leiliana stared at him. This offer of his seemed so intimate that she was immediately on her guard. She shook her head. “You don’t need to do that, Gabriel. My assistant, Claudia, can make arrangements for me to be collected.”
“Please allow me to do this and stop arguing with me. There will be time enough to do that when you get here.”
~*~*~*~
“Leia…Leia!”
“Huh?”
Leiliana looked wide-eyed at her mother and tried to focus. “What’s going on?”
They were doing something she rarely got to do these days. They had gone shopping on Bond Street and were now having lunch at a swanky Indian restaurant tucked away along the avenue.
She and her mother had both jus
t finished their meal and were now sipping Darjeeling tea.
“Did you even hear one word I just said?” Lady Lamport asked.
“Sorry, my mind drifted.”
“Is everything okay?”
“Yes, but I’m a little distracted, I suppose.”
“Are you thinking about your upcoming trip to Ireland?”
“Yes, I am. I guess I’m a little concerned about being alone with Gabriel Walsh on these negotiations.”
“Do you feel threatened by him, as though he’s going to come on to you? Because if you feel uncomfortable about doing this, it’s not too late to insist that you bring a team with you.”
Leiliana almost laughed. If Gabriel came on to her, the last thing she would feel was threatened. Which was part of the problem.
“No, no. It’s nothing like that. Gabriel is a perfect gentleman. I just don’t want to mess this up like last time.”
“Last time…you’re speaking about Michael Chappelle?”
“Yes. I don’t want to repeat the same mistake I made before.”
“Is there a real danger of that? You barely know Gabriel Walsh.”
Leiliana gave an embarrassed laugh. “That’s not entirely true, we went out on a couple of dates a few months ago.”
She shared with her mother what transpired between her and Gabriel at the Innovation Awards, and since then.
“I didn’t realize,” Barbara said.
“I find him so attractive, mum. But it’s more than his looks. He’s really nice too, and he seems to be a Christian. He’s everything I ever wanted in a man. I keep telling myself that I need to focus on business and not allow myself to fall for him. But then I see his photo in the press, or he rings me up, and I get heart palpitations. I can’t control it. What’s going to happen when I’m sequestered with him for two weeks?”
“Perhaps that may be what you need to get over your crush. You know, when we see someone as they really are, we sometimes we realize they are not as right for us as we thought.” She covered Leiliana’s hand with her own. “I’m not worried. You’ve matured a lot since Michael Chappelle. I know that you are not going to let your emotions get away with you. And you’re sensible enough to realize if it’s happening and withdraw from negotiations.”
Falling For You Page 11