Destined Entwining: Capturing My Devoted Beau

Chapter 385: Chapter 208: Decisive and Efficient (First Update, Requesting Monthly Tickets)

A board member put on his reading glasses, looked at the contract termination agreement from the State Grid for a long time, frowned, and said, ”How long have we owned Wayford Intelligence?”

”... Less than a month.” Justus Spencer said awkwardly and helplessly, almost regretting it to death.

If he had insisted on his opinion back then and given up the acquisition of Wayford Intelligence, there wouldn’t be today’s troubles!

But Thomas was dead set on acquiring Wayford Intelligence.

Now, all the responsibility fell on him, while Thomas would walk away unscathed, still celebrated as the ”Father of Artificial Intelligence”, where could Justus Spencer cry for justice?

No, he couldn’t bear this blame alone!

As Justus Spencer thought about it, his eyes started scanning the conference room.

Sitting next to him, Spring Spencer kept her head slightly down, her expression unclear.

Of course, Spring Spencer, as the Chief Financial Officer of Spencer Group, was the one who negotiated the fifty billion deal to acquire Wayford Intelligence.

Now that Wayford Intelligence had become an empty shell company, the trouble of that fifty billion wasn’t any smaller than the blame he bore.

Justus Spencer felt somewhat balanced at heart.

At this moment, the board member with the reading glasses said, ”I’m a lawyer by training, and I recall that when acquiring a company, if the acquiree’s client base is too concentrated, it’s very risky.”

”Wayford Intelligence practically earns money solely from the State Grid, with such a concentrated client base, how was its valuation estimated at fifty billion?”

Justus Spencer felt a stirring in his heart, and without thinking deeper, immediately said, ”Are you saying this is a problem with the valuation company?!”

”Regardless, they should clarify why the valuation went from ten billion to fifty billion.” Another board member pointed out, looking at the acquisition memorandum, highlighting the vast difference between the two valuations.

Spring Spencer raised her head at this point and said, ”I don’t know why the valuation changed, but what I want to say is, if the valuation wasn’t fifty billion, the bank wouldn’t have loaned us fifty billion.”

Justus Spencer suddenly got angry, ”You said if the valuation wasn’t fifty billion, the bank wouldn’t loan us, how did it become my responsibility?”

Spring Spencer calmly said, ”I’m just stating a fact, not blaming anyone, nor saying it’s your responsibility, Mr. Spencer.”

”Do you dare say you weren’t blaming me?” Justus Spencer slapped the conference table, with a stern face, ”The valuation company was hired by me, these two valuations were also decided after discussions with their technical personnel, and it was my signature. Now that there’s a problem, aren’t you blaming me?”

A hint of a mocking smile flashed across Spring Spencer’s face as she calmly said, ”Then why doesn’t Mr. Spencer tell us how you convinced the valuation company to raise the valuation from ten billion to fifty billion?”

Convince? Is convincing even needed?

Justus Spencer thought, if they don’t listen to him, then don’t even think about doing business with Spencer Group in the future, it’s just a change in an estimated value, not deliberately falsifying...

He simply let out a cold laugh, looked at the board members in the conference room, and said, ”When it was reported to everyone for review, you were all eyeing the State Grid’s ten-year contract with envy, did anyone raise the issue of a concentrated client base?”

”No!—Not a single one!”

”You were all thrilled that we could connect with the State Grid and were calculating the connections and new profit points this contract could bring!”

”Now the problem arises, and one by one you’ve become Jeremy Gilberts in hindsight!–Responsibility? Whose responsibility? Don’t you have any responsibility?!”

Justus Spencer’s retort caused the board members in the conference room to immediately change their expressions.

Cameron Spencer coughed once and said in a deep voice, ”Justus, we are discussing ways to solve the problem. How can you rudely scold the board members? Apologize now!”

Justus Spencer frowned and reluctantly said, ”I’m sorry everyone, I was too agitated just now.”

Cameron Spencer nodded, about to say more, when another board member said, ”Alright, we won’t argue about whose responsibility it is. But Wayford Intelligence was acquired less than a month ago, and their largest client already encountered a problem and terminated the contract. This kind of situation should have been addressed in our acquisition contract, right?”

Justus Spencer was slightly stunned, ”Address what? The incident happened after the acquisition; we didn’t know it would happen before the acquisition. If we knew, I wouldn’t have bought it!”

”Protection clause.” The board member said calmly, ”If the acquired company has a particularly large client, for instance like the State Grid, accounting for ninety percent of the acquired company’s revenue, there should definitely be a protection clause to secure our company’s interests.”