The final negotiations over Hengsheng Group’s acquisition of Xinke Pharmaceuticals have ground to a halt in Haicheng’s most prestigious conference room. Li Mochen’s legal team has all the documents ready, waiting only for the other side to sign. The door opens, and Shen Qingci, Xinke’s newly appointed lead counsel, walks in alone with an old briefcase.
She ignores the mountain of acquisition documents and heads straight for the projector, plugging in a USB drive. “Mr. Li, before we discuss the price, please look at this scanned copy of an environmental fine issued three years ago to your subsidiary, Kangyuan Biotech. Under the Administrative Measures for the Material Asset Restructuring of Listed Companies, an undisclosed major administrative penalty could derail the entire acquisition.”
