“Team?” Dorothy asked.
“Team, of course team. Crawford is no one man band. He has his back room people. However only Crawford and his lead negotiator will be present to meet us.”
“Us?” John asked.
“Not you John, you are our back room, you and your finance people.”
“Yes sir,” John agreed.
“John, I know we have had words but I want you to put all that out of your mind. What I want is for you to do a good job on the financials.”
“I’m pretty advanced, you know I have to meet Kenny from the banks.”
“By next weekend the banks won’t matter,” Michael interjected. “They can deal with AF.”
“We need to keep the bank people on board,” Dorothy insisted. “We need a smooth transition.”
“Agreed, keep the banks happy by all means, but by next Friday I want chapter and verse.”
“What sort of chapter and verse?” Peter asked puzzled.
“Profit scenario’s with and without AF business, growth parameters and cash flow projections. I want a full financial brief available,” Michael insisted as John nodded in acceptance.
“And Dorothy, you know the figures, you grew up with them. When John has put a shape on them I want you to take over and be ready for any questions that might arise at the meeting.”
“Sure dad,” Dorothy agreed.
“I can be on standby,” John offered.
“Good man John, just as I would expect, professional to the end. But none the less, for a smooth negotiation I want Dorothy up to speed.”
“Understood dad,” Dorothy agreed.
‘John, AF will decide your fate in the new organisation. Once I sell they will be in charge. They’ll probably want their own financial team but I wish you luck. Do a good job for me this week and you can be sure you will at least have a good reference.”
“Peter and Dorothy, I want to meet further to set out a negotiating strategy.”
“Sure dad,” Peter agreed.
“I agree,” Dorothy added. “We need to establish how we play our cards and how we use the fact that we have two bidders.”
“O’Donoghue is not at the races,” Peter was dismissive.
“Go easy Peter, Dorothy has a point. We need to leverage up the offer from Crawford.”
“O.K. Dad,” Peter agreed. “But there are no flies on Crawford. We have to handle it carefully.”
“Exactly my point. We let John off now. John get on your bike and put the sums together.”
John stood and made his exit, carrying his papers in a bundle.
“Dad, the social side,” Dorothy continued. “We need to set the scene.”
“What do you mean?” Peter asked.
“Mom always does a great party,” Michael said and as he spoke he wondered if he might be expecting too much.
“Jeremy is opening a Shop in Grafton Street…” Dorothy continued.
“What’s that to do with O’Byrne’s?” Peter interjected.
“Relax Peter,” Dorothy replied spiritedly.
“Relax the two of you,” Michael said sounding worried. “I don’t need my team at each other’s throat.”
“Dad, I want the family to come to a party that Jeremy is throwing. I want you to charm him and help him forget you were rude when you first met him.”
“I was concerned about Ann-Marie at the time.”
“A party?” Peter chipped in cheerfully.
“We have a lot to do,” Michael objected.
“We do an hour at the party. It is an informal basis for you and Mom to meet my intended.”
“Your intended!” Peter and Michael spoke in unison and in amazement.
“Maybe,” Dorothy corrected with a blush.
“Please come,” she added.
“If you put it that way. Maybe we’ll cater our party for the weekend to take a load of your Mom’s shoulders,” Michael suggested doubtfully.
“Don’t worry dad, I’ll get our figures lined up and then we can relax on Friday evening and be ready for the weekend.”
“Great!” Peter was in full agreement.
“Agreed,” Michael conceded.
“Great!” Dorothy said.
“Now let us discuss our approach to these negotiations. If we get it right it could be worth millions, wrong and it will cost us,” Michael insisted.
‘What do you have in mind?” Peter asked.
Dorothy’s nerve failed her. She decided not to mention that she had invited Jeremy and David down for the weekend. She would find an appropriate time to tell them, but later.
Chapter thirty-five
By three o’clock John had finished preparing his figures. They were now in a format where any good backer would understand what was going on. John organized the photocopying and then got himself another cup of coffee. He was losing count of his coffee intake. It had been one of those days.
Dorothy’s secretary stuck her head around the door and John looked up expectantly with a smile.
“John,” she said. “I have a Miss Simmons from AF on the phone. She is looking for Peter.”
“Did you put her on to Dermot? I’m pretty sure he would love to talk to her.”
“No, I mentioned Dermot. She was very negative but then asked for you.”
“Well put her through.”
“Just let me fill you in. She rang to tell Peter that her boss, a Mr. Crawford, is coming to Dublin and she wants them to meet.”
“O.K. put her on. I’ll talk to her,” John said, curious.
“Hello,” he said when the phone buzzed,
“Janet Simmons here. I was looking for Peter but I can’t get him and he is not answering his mobile.”
“He may be out of coverage?”
“I need to see you,” Janet said unexpectedly. “There has been a development. I was going to ask Peter if he could arrange for us to meet before meeting with Mr. Crawford, but I can’t get Peter. I think we should meet anyway.”
“Why not meet our procurement Director Mr. Dermot O’Rourke. He could relate better to your area of work Miss Simmons. I understand he had been desperately trying, without success, to get a meeting with you.”
“This is a finance matter, not a procurement matter. I need to talk to you but I don’t want to go to the O’Byrne’s office and I particularly don’t want to meet Dermot O’Rourke. Can you see me?”
“Of course Ms Simmons. Where can we meet?”
“I have an apartment in the Wavendon complex near Jury’s hotel. Do you know it?”
“I think so.”
“Second block, my name is on the downstairs door. Buzz and I’ll let you come up. When can you come?”
“No time like the present. I have some papers to collate for tomorrow. I could be there in about an hour.”
“I’ll expect you.”
John put down the phone and pursed his lips. What was up?
He had met with Simmons during her ISO audit. He mainly remembered how beautiful she was. She had taken his breath away. Then she had asked some very penetrating questions, which John, only new to the business, found it difficult to answer. Perhaps he had been less than clear? Well he had all the facts now. Let her ask away, he’d have the answer, assuming it was about the financials.
He put her out of his mind when his secretary came back with the photocopying. Together they bound up a dozen copies of his report.
“I have the presentation version set up on your portable computer,” she informed him.
“Can you manage?” she added.
“No problem.”
John thanked her and gave her the rest of the afternoon off. She had done a good job at short notice. She had really put a lot of effort in to supporting him.
One more task and he was in the clear.
John pulled out his old diary. The diary contained the private number Kenny had supplied.
“Andrew,” he said in his friendliest sincerest voice.
“Is that John O’Mall
ey?”
“It is indeed.”
“What can I do for you John?”
“O’Byrne’s,” John explained, “My figures are all lined up like ducks in a row. I have all the financials set out, upsides, downsides and what ifs.”
“No better man,” Kenny said non- committal.
“When we met, Andrew, you floated the possibility of opportunities. There have been important developments.”
“I can’t possibly discuss something of this nature on the phone and I am tied up for the rest of the day.”
“Soon Andrew or it is too late. The deal will be done over the coming weekend.”
“I know, have an invitation from Michael O’Byrne for a do in his house over the weekend. I’d assumed you would be there John?”
“Eh... no. I’m just on standby. I did not know you were invited.”
“I represent their Bankers. Naturally I am clued into what is going on. You are aware that Michael O’Byrne will more than likely sell the company over the weekend?”
“You are well clued in as usual Andrew.”
“The bank Legals have been talking with other Legals today. I can say no more.”
“Andrew tomorrow may be too late to talk. My fellow non-family directors want to explore other options. I said I would try and get a meeting with you. Howlett Holdings are also in the frame.”
“Interesting,” Kenny replied non-committal as ever.
“You said you might explore avenues,” John persisted. “Would there be virtue in our having a meeting?”
“Tomorrow morning” Kenny suggested. “We can have a private meeting at my club.”
“The Knights?”
“Yes, it stretching it a bit to call it a club, but I could meet your party in the reading rooms in the St Stephens Green Premises. Say eight o’clock in the morning?”
“Early bird...”
“Catches the worm,” Kenny finished for him. “If you email your figures to me I can look at them tonight.”
“I could not do that, no one else has seen them.”
“John, this is a time for trust. No point in meeting unless I have the figures.”
“Better not send a communication,” John said decisively, and quickly added. “I’ll drop an envelop in at your offices, I have to go to a meeting downtown anyway. That way nothing is on record.”
“Good thinking, and the less said on the phone the better, even if it is a private line. See you bright and early in the morning.” With that Kenny hung up.
John was nervous, thinking breach of trust and other worries. But he decided, in for a penny, in for a pound. He had to go with Kenny. The other non-family Directors were relying on him to turn up an alternative solution. He got his coat and asked his secretary to organize a taxi. But first he had to deal with Miss Simmons.
John was prompt as usual and an hour after the phone conversation he was buzzing the bell to Janet Simmons apartment.
“Come up,” Janet said over the intercom as John identified himself.
John made his way to Janet’s apartment. As he came out of the lift she was waiting for him at the entrance.
“Good to see you again.”
“Pleasure,” John said gallantly.
But he really meant it. She was dressed in a simple navy blue dress and she was beautiful. There was no other word John could think of to describe her.
She seemed nervous as she led John to the couch in the living room and offered him a cup of coffee.
“Do you have tea?” John asked, “I’ve had coffee coming out my ears this morning. One of those days.”
“Herbal? Green tea?” she offered. “I have some nice camomile?”
“Fine.”
They exchanged pleasantries while Janet made the tea. Eventually she came to the table with a pot and two cups. “I’ll join you for a cup,” she said with a pleasant smile and poured.
“You wished to meet me?” John eventually enquired.
“Yes,” Janet smiled apologetically.
“How can I help?” John asked evenly.
“My interest in the O’Byrne affair has changed” Janet explained.
“Changed?”
“Yes. You may not be aware of it but Peter has asked me to marry him and I have accepted.”
“Well congratulations. This is a great surprise.”
“Thank you,” Janet said with a slight blush.
“Money is not my motivation,” Janet continued, “however a girl has got to be pragmatic and Peter has much to learn about managing money.”
“And his trust fund?” John asked.
“Yes. Peter tells me he is to get ten percent on some future date.”
“That’s also my understanding” John replied cautiously, adding, “Peter obviously stands to inherit his fathers estate also, or some of it.”
Janet laughed. “Michael O’Byrne is in good health. His wife will probably outlive him if statistics are a guide. So Michael’s money is something for grandchildren. Peter is unlikely to see any of it in the near future. Michael’s wealth is not a part of my calculations. I’m glad he has it but it not a consideration. In this day and age Peter and I could be divorced in three or five years. These things happen. I don’t intend to spend my life living in the hope that someone will pass on and leave me some money in far years to come.”
“Good thinking,” John said again non-committal, but wondering where the conversation was going.
John watched fascinated as Janet picked up her tea and took a sip. She smiled at him. She was used to mesmerizing men. To cover his confusion John picked up his own cup, and sipped.
“John, AF are poised to take over O’Byrne’s. Michael O’Byrne wants to talk about fine-tuning on the price on the weekend. Mr. Crawford is coming over to finalize the deal. He will meet the O’Byrne's and conduct the negotiations. The AF legal people have started ‘due diligence’ processes. They are tying in with the O’Byrne’s bankers and will want to go over your figures.”
“Yes, no problem. Peter and Michael seem to have decided that selling it is the best option in the circumstances.”
“Do you John, what do you think?”
John sat back and looked at her, but could not read anything in her beautiful sincere face.
“The price is reflective of the present level of business in a situation where we are in deep trouble with one of our principle customers. In other words AF have destroyed future expectation of growth and this reduces the value of the shares dramatically. It depends on the view you take as to whether O’Byrne’s could fight and win with AF,” John explained.
She remained inscrutable, and John sat back in his seat.
“If the price is fifty million Peter will get five million,” Janet suggested.
“If we got a future growth value that could be ten or fifteen million,” John countered.
“I know,” Janet, said, “that’s what bothers me.”
“Why are you taking me into your confidence?” John asked.
“I need to explore other options,” Janet explained. “Peter mentioned that O’Donoghue's were sniffing around and expressing interest in a bid.”
“Yes, but they are unlikely to pay much more. The business is still in trouble. The non-family directors feel the threat from AF can be rebuffed by a management buyout linked to a merger with O’Donoghue's. They don’t see any good in selling to AF and letting AF grab all the future growth value at the expense of existing shareholders.”
“We are talking a wide range of values depending on future expectations,” Janet summarized.
“Exactly,” John agreed, still wondering why she was pursuing this line.
“If I could arrange for AF to withdraw their bid?” Janet asked with a smile.
“That would put us back on track, back to where we were before this all started,” John said with a startled laugh.
Clearly he did not believe she could do anything of the sort.
“We can’t go back,” Janet explained. “J
ohn, we can only go forward.”
“Agreed,” John said wryly and put down his cup.
He felt the conversation was going nowhere and much as he enjoyed looking at Janet and hearing her sweet voice, he felt he had other pressing things to get on with. He made as if to finish up.
Janet held out her hand in a restraining gesture.
“John, I want to put a scenario to you.”
“Yes?” John said. Patience was one of his strong points.
“Michael sells at or about the proposed price, still believing the growth bubble is burst and he should get out.”
“And?” John prompted
“And AF withdraw from the field, not prepared to go over fifty million while your consortium goes to maybe sixty million.”
“Some chance,” John said with a smile.
“And AF then make up with O’Byrne’s and we carry on as before.”
John gesticulated with his hands as if he was strangling someone in frustration.
“Go with the scenario John,” Janet urged.
“Well in those circumstances Michael would have sold out for millions below real value, in a sense losing millions, and the new shareholders would reap the rewards of all future growth in the company and future expectations. With the renewed AF relationship the company would go back to its proper value and continue on the growth trail.”
“Excellent,” Janet clapped her hands. “That’s what I thought.”
“Pipe dream Janet,” John said, enjoying her pleasure at his conclusion.
Janet stood up, straightened out her dress and walked to the window. John’s eyes followed her spellbound. What does it matter, he thought, she may be talking rubbish, but she is wonderful.
Twisted Love and Money Page 23
