Eli Davenport closed the report on his desk with a slightly bemused smile. Had he known it would be this easy, he would have enacted this plan years ago. Moreover, he never would have involved Charles Montgomery, IV or tried to get his family to act in unison in order to take Davenport Technology private. It seemed that in Meredith’s endless bouts of hubris as the CEO of the company, she and the board had initiated several bond issuances which hadn’t made so much as a blip outside of the board room. Eli hadn’t heard anyone talk about it, but now a source had given him the names of all fifty bondholders along with the size of their debt in Davenport Technology. If Eli could manage to buy each of these bonds, he could, in effect, takeover Davenport by virtue of being its only debt holder. It was a risky proposition, but it was something he needed to explore. The price tag alone was staggering: $1.1 billion. However, if it’s one thing Eli knew how to do it was to raise money quietly before pouncing on his unsuspecting target. His family had rebuffed him as had Charles, but this time, Eli was intent to prove to them that he was the one in charge. Once he took over Davenport Technology, they’d all have to bow to him.
#47 (Eli puts his plan in motion…)
#47 (Eli puts his plan in motion…)
#47 (Eli puts his plan in motion…)
Eli Davenport closed the report on his desk with a slightly bemused smile. Had he known it would be this easy, he would have enacted this plan years ago. Moreover, he never would have involved Charles Montgomery, IV or tried to get his family to act in unison in order to take Davenport Technology private. It seemed that in Meredith’s endless bouts of hubris as the CEO of the company, she and the board had initiated several bond issuances which hadn’t made so much as a blip outside of the board room. Eli hadn’t heard anyone talk about it, but now a source had given him the names of all fifty bondholders along with the size of their debt in Davenport Technology. If Eli could manage to buy each of these bonds, he could, in effect, takeover Davenport by virtue of being its only debt holder. It was a risky proposition, but it was something he needed to explore. The price tag alone was staggering: $1.1 billion. However, if it’s one thing Eli knew how to do it was to raise money quietly before pouncing on his unsuspecting target. His family had rebuffed him as had Charles, but this time, Eli was intent to prove to them that he was the one in charge. Once he took over Davenport Technology, they’d all have to bow to him.