Hostile Takeover

Tuesday Evening October 8

Bobbie walked out of the office and put her head in her hands.

Barb got out of the van and hugged her. “Trixie told us what’s going on. She has a plan.”

Trixie rolled down the window. “Get in Bobbie. We’re going to the airport. Frank and Belinda and Brent will catch a flight out of here and we can rent a car.”

“I’m so sorry guys.”

“It’s OK Bobbie, It’s out of your control.”

“Are you going to drive, Trixie?”

“Yes, it’s better if I get stopped for driving an uninsured vehicle, in this town.

They were all quiet on the way to the airport. Trixie parked and they got out.

Frank came around to talk to Bobbie. “It sounds like Ruggles is going to drag this probate out.”

“I think he’s just enforcing the rules. He told me there wouldn’t be anyone contesting the will.”

“Ok, we’ll see you back home.”

Barb touched her arm. “Trixie is taking the van back to the ranch and will start packing when she gets there. We’ll go rent a car, meet her at the ranch, get our stuff and then we’ll go find a place to stay.

They walked over to the small car rental office. They drove the 2-year-old Ford Fusion back to the ranch.

Dina met them in the driveway. “Trixie told me about the issues with your ownership of the ranch. I’m sorry about this. Townes and his mother would not have wanted this. No matter what the will says you would have been welcome here.”

“Don’t worry about it, Dina, we’ll be through all this in a few months. I’m sorry we have to leave right away. I hope you didn’t go to too much trouble for supper.”

“No, we haven’t started cooking anything.”

“Well, that’s good at least. Why don’t we all go out for dinner. I’ll just go get my things packed up and then we’ll go out for supper before we go to the motel.”

“That’s a great idea Bobbie, I’ll let Sam know.”

Bobbie went to the bedroom wing where Trixie and Barb were finished packing their things. Bobbie went into the room where she was staying and packed quickly. She went into the hall where Barb and Trixie were waiting.

“Are we all ready? I hope it’s OK but I told Dina and Sam, I’d take everyone out to dinner when we’re all organized.”

Barb nodded. “That sounds good. The only motel I found is a cheap and cheerful one out by the highway exit.”

“I think we should go to the diner. I liked the waitress and I liked the coffee there. We probably don’t need a reservation either.”

Dina and Sam joined them. “The diner is a great idea; they usually have a good dinner special. Sam, can you help them with their bags?

In the car Bobbie sighed. “I was so naive to think this would be easy. Townes and I were not married. I shouldn’t get all his stuff.”

They arrived at the restaurant and had a lovely family dinner. The special was a tasty meatloaf. Barb just ordered a side salad and picked at it.

The waitress came to pick up the plates and asked if they wanted dessert. She looked at Barb. “Oh Honey, are you off your food. You’re so tiny maybe you’d like some of our special carrot cake?”

Barb smiled and agreed to have a little piece. Bobbie asked for a fork so she could share.

They settled up the bill and went outside and were chatting about the Motel when a camera went off.

It was Melanie Ruggles. “So, you’re shtill here. I thought you’d get the message and just leave. A gold digger like you is not going to live at the Carson ranch, a local family should carry on the traditions.

Bobbie walked over to her. “Melanie, you’re a little tipsy, maybe you should head home now.”

“I don’t care if I’m tipsy. I have this picture of you and I’m putting it on that black widow website and they’ll prove that you convinced Townes to give up his stuff to you and you killed him and now you’re here to collect.”

“Melanie! That’s simply not true, you can put that picture anywhere you want but you’ll never prove that I did anything to hurt Townes. I was falling in love with him and would never do those things.”

“I don’t believe you Bobbie but that doesn’t matter. Danny has important friends who will make sure you never get anything and it will be Danny and I living on that ranch.” Finally, one of her companions pulled on her arm and lead her away.

Barb broke the silence. “Wow, what a terror on wheels.”

Bobby gave a slight nod. “I can think of other things to call her.

Trixie looked at her. “Townes wanted you to have all his stuff and he wrote that in a will with his lawyer. So, he wasn’t fooling around and no one can change that.”

“Now we know the lawyer is not on my side.”

“Oh, I know Bobbie; he most definitely is not but he does have to follow the law. He can drag the probate out a couple of years. I can’t imagine the shareholders of Carson Oil will stand for uncertainty for that long. Let’s get back to the motel. I need my computer to check on a few things.”

They checked in the motel and entered the room. There was a worn but clean indoor/outdoor carpet on the floor and two double beds. The room was large and there was an area with a small table and two chairs near a small kitchenette. There was a two-seat sofa at the foot of one of the beds and a TV on a dresser along the wall across form the beds.

They put there bags down and Trixie picked up the card with phone numbers and internet information on it. “I’ll call the desk and get a couple more coffee cups, glasses and an extra chair. Do you think we’ll need more blankets.”

Bobbie shook her head. “How long are we really going to stay? I don’t think I’ll be missed if I just turn tail and run home. That’s what I really want right now.”

“I have to go to the memorial as the head of Fox Energy. It is important I recognize Nancy Carson; it’s a matter of respect.” Said Trixie.

Bobbie squeezed her eyes shut. I just want to go and pay my respects to my friend and his mum and recognize what a tragedy their loss is.”

“I’ll be running around schmoozing Oil producers and you need Barb for emotional support.”

“I’ll be the emotional-support-Barb.”

I’m still thinking about what Ruggles might be up to. There’s no legal way to force you out. Trixie plugged in her computer and sat in the chair and was quiet for a few minutes. “Oh my God. Someone’s trying to initiate a hostile takeover of Carson Oil. When I went through the information we got from Ruggles, I learned that Nancy and Townes, combined, had 40 % of the company shares; 60 % is owned by others. Someone is trying to buy as many shares as they can.” Trixie typed some more. “Well, well, if it isn’t our old friend Mr. Peabody. The guy who wanted to blow up rook mountain behind the motel?”

“How could I forget? So, Peabody is moving from coal mining into the oil business? He wouldn’t dare go to the service tomorrow, would he?”

Trixie shook her head. “No, I don’t think so. There are a few large shareholders that would be loyal to the Carsons and hold out but many of the shares have been traded and if they’re in some money manager’s hands, they’ll just sell them if the price is good and buy something else.”

Barb spoke up. “I still don’t understand how all this can shut Bobbie out.”

“If a takeover actually succeeds the new controlling company might devalue the remaining shares of the old company and what you are set to inherit would be worth nothing… Unless you sold them to Peabody. Probate could be dragged out for fabricated reasons; for a long time. The value of the estate will diminish as carrying costs add up. You might owe money on it by the time you inherit.”

Bobbie laughed. “Wow I don’t actually need the money but I have my back up now because I want that money to do good things. Do I have enough equity in the motel to buy 11% percent of the shares myself? Wouldn’t that stop Peabody?

Trixie looked thoughtful. “That would stop him. I don’t think you want to extend yourself that much You’d have to make the offer more than Peabody is offering.

“It seems so hopeless. I suppose Ruggles has a deal with Peabody about the ranch too.” Mused Bobby.

Trixie sighed. “I don’t think so. Ruggles has shares in Carson Oil. He’s selling to Peabody to make a good buck and is punishing you in the process. I think that appeals to Melanie more though. Peabody won’t do any favours around the ranch. He will just push through a fracking licence as a pretense to expropriate and set up in the back forty. The ranch would lose its appeal and maybe access to well water.

“So Ruggles underestimates Peabody; he’ll plow though regulators, bribing and paying off people as he goes. There will be nothing left of the ranch. It’s like the motel all over again. Maybe, if I can get Daniel away from his wife, I can convince him to not sell those shares.”

“I don’t think so Bobbie. It’s worth it to Fox Energy to try to by them though, then he won’t be supporting Peabody. You’re on my board now, that’s not under probate. Don’t you agree?”

Barb looked up. “You guys are planning to foil another one of Peabody’s plans? He’ll be really angry this time.”

Trixie grabbed her phone. “Maybe I can get Ruggles to tell me what Peabody is offering for the shares? Then I can offer to buy shares from people before the memorial.”

“Is that legal?”, asked Bobbie.

“It’s on the edge but it’s not insider trading because the offer is already on the table. We do have details to work out.”

“I guess we’re going to a memorial.”

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