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〃Good God； tai…pan；〃 McBride said； 〃if Noble Star wins the fifth； wouldn't it be marvelous！〃
〃Pilot Fish will beat Noble Star；〃 Gornt said confidently。 He was at the bar with Jason Plumm getting a drink。 〃10；000 says he'll finish ahead of your filly。〃
〃Taken；〃 Dunross said at once。 There were cheers and hoots of derision from the thirty…odd guests and once more Bartlett and Casey； who had by arrangement with Dunross ostensibly just wandered in a few minutes ago to visit Peter Marlowe； were inwardly staggered at the festive air and Dunross's high…flying confidence。
〃How're you doing； Dunstan？〃 Dunross asked。 He paid Casey and Bartlett no attention； concentrating on the big florid man who was more florid than usual； a double brandy in his hand。
〃Very well； thank you； Ian。 Got the first； and Buccaneer … made a bundle on Buccaneer； but blew my damned quinella。 Lucky Court let me down。〃 The room was the same size as the Struan box but not as well decorated； though equally well filled with many of the Hong Kong elite； some invited here a moment ago by Gavallan and McBride for Dunross。 Lando Mata； Holdbrook … Struan's in…house stockbroker … Sir Luis Basilic … head of the stock exchange … Johnjohn； Havergill； Southerby … chairman of Blacs … Richard Kwang； Pugmire； Biltzmann； Sir Dunstan Barre； young Martin Haply of the China Guardian。 And Gornt。 Dunross looked at him。 〃Did you get the winner of the last race too？〃
〃No。 I didn't fancy any runner。 What's all this about； Ian？〃 Gornt said； and everyone's attention soared。 〃You want to make an announcement？〃
〃Yes； as a courtesy I thought you should know； along with other VIPs。〃 Dunross turned to Pugmire。 〃Pug； the Noble House is formally contesting the American Superfoods takeover of your H。K。 General Stores。〃
There was a vast silence and everyone stared at him。 Pugmire had gone white。 〃What？〃
〃We're offering 5 a share more than Superfoods； we'll further improve their bid by making it 30 percent cash and 70 percent stock； everything done within thirty days！〃
〃You've gone mad；〃 Pugmire burst out。 Didn't I sound everyone out first； he wanted to shout； including you？ Didn't you and everyone approve or at least not disapprove？ Isn't that the way it's done here for God's sake … private chats at the Club； here at the races； over a private dinner or wherever？ 〃You can't do that；〃 he muttered。
〃I already have；〃 Dunross said。
Gornt said harshly； 〃All you've done； Ian； is to make an announcement。 How are you going to pay？ In thirty or three hundred days。〃
Dunross just looked at him。 〃The bid's public。 We plete in thirty days。 Pug； you'll get the official papers by 9：30 a。m。 Monday； with a cash down payment to cement the tender。〃
Momentarily he was drowned out as others began talking； asking questions； everyone immediately concerned how this astonishing development would affect them personally。 No one had ever contested a prearranged takeover before。 Johnjohn and Havergill were furious that this had been done without consultation； and the other banker； Southerby of Blacs； who was merchant…banking the Superfoods takeover； was equally upset that he had been caught off balance。 But all the bankers； even Richard Kwang； were counting possibilities； for if the stock market was normal and Struan's stock at its normal level； the Struan bid could be very good for both sides。 Everyone knew that Struan's management could revitalize the rich but stagnant hong； and the acquisition would strengthen the Noble House immeasurably； put their end…of…year gross up at least 20 percent and of course increase their dividends。 On top of all that； the takeover would keep all the profits in Hong Kong； and not have them trickle away to an outsider。 Particularly Biltzmann。
Oh my God； Barre was thinking with vast admiration and not a little envy； for Ian to make the tender here； in public； on a Saturday； with never the breath of a rumor that he was contemplating the unthinkable； with nothing to give you an inkling so that you could have bought in quietly last week at bottom to make a fortune with one phone call； was brilliant。 Of course Pug's General Stores shares will soar first thing on Monday。 But how in the hell did Ian and Havergill keep it quiet？ Christ I could've made a bundle if I'd known； perhaps I still can！ The rumors about the Victoria not supporting Struan's is obviously a lot of cobblers。 。。。
Wait a minute； Sir Luis Basilio was thinking； didn't we buy a huge block of General Stores last week for a nominee buyer？ Good God； has the tai…pan outsmarted all of us？ But Madonna； wait a minute； what about the run on his stock； what about the market crashing； what about the cash he'll have to put up to fix the tender； what about 。。。
Even Gornt was counting； his mind flooded with fury that he had not thought of the ploy first。 He knew the bid was good； perfect in fact； that he could not top it； not at the moment。 But then； Ian can't plete。 There's no wa…
〃Can we go to press on this； tai…pan？〃 Martin Haply's incisive Canadian voice cut through the excited uproar。
〃Certainly； Mr。 Haply。〃
〃May I ask a few questions？〃
〃It depends what they are；〃 Dunross said easily。 Looking at the penetrating brown eyes； he was grimly amused。 We could use a right rotten young bastard in the family … if he could be trusted with Adryon。 〃What had you in mind？〃
〃This's the first time a takeover's ever been contested。 May I ask why you're doing it at this time？〃
〃Struan's have always been innovative。 As to timing； we considered it perfect。〃
〃Do you consider this Sat… 〃
Biltzmann interrupted harshly； 〃We have a deal。 It's set。 Dickie？〃 He whirled on Pugmire。 〃Eh？〃
〃It was all set； Mr。 Biltzmann；〃 Dunross said crisply。 〃But we're contesting your tender； just as it's done in the States； according to American rules。 I presume you don't mind a contest？ Of course we are amateurs here but we enjoy trying to learn from our peers。 Until the stockholders' meeting nothing's final； that's the law isn't it？〃
〃Yes； but 。。。 but it was set！〃 The tall gray…haired man turned to Pugmire； hardly able to speak he was so angry。 〃You said it was all agreed。〃
〃Well； the directors had agreed；〃 Pugmire said uneasily； conscious of everyone listening； particularly Haply； one half of him ecstatic with the vastly improved offer； the other furious that he； too； had had no advance warning so he could have bought in heavily。 〃But； er； but of course it has to be ratified by the stockholders at the Friday meeting。 We had no idea there'd be a 。。。 Er； Ian； er； Chuck； don't you think this is hardly the place to dis… 〃
〃I agree；〃 the tai…pan said。 〃But at the moment there's little to discuss。 The offer's made。 By the way； Pug； your own deal stands； except that it's extended from five to seven years； with a seat on Struan's board for the same period。〃
Pugmire's mouth dropped open。 〃That's part of the tender？〃
〃We'd need your expertise； of course；〃 Dunross said airily； and everyone knew Pugmire was hooked and landed。 〃The rest of the package as negotiated by you and Superfoods stands。 The papers will be on your desk by 9：30。 Perhaps you'll put our tender to your stockholders on Friday。〃 He went over t