Chapter Twenty-Seven
Landon
The next day started bad enough, with the worst traffic jam I’d experienced since returning to LA.
It turned even worse when Adam called. I typically didn’t like talking on the phone in a cab, but it looked like I’d be stuck in traffic for a while longer. Better put the time to good use.
“Finally figured out what Sullivan’s been up to,” Adam said the second I picked up. “He’s been talking to our board, convincing them to sell.”
My mind went blank as the full meaning of his words hit me.
“What? He doesn’t have the funds to buy us out. Our company’s valuation is larger than his.”
“Yes, but he’s been in talks with a private equity fund to come up with the rest of the cash. I did some digging. Apparently, they approached him after you left for LA.”
That bastard! I forced my temper under control. I needed my head cool.
“How did you find out?” I asked.
“Bowman came forward today, told me about Sullivan’s proposal. Very generous.”
Bowman was the head of our board.
“Let me guess. They’re in favor of selling?”
“Yes. You know they’ve wanted you to sell the company for some time. We reached a peak two years ago, and you don’t want to do an IPO. They only agreed to wait because you promised the cooperation with Sullivan.”
I felt the ground sliding from beneath my feet. He was 100 percent right. If Sullivan could convince the board to sell, they could force me to do so, even if I was the CEO and owned 49 percent. The role of the board was to protect the interest of stakeholders. I was one of those stakeholders; the investors who held the other 51 percent made up the rest.
“The board isn’t happy that you’ve been away for so long. They doubt your commitment to the company.”
“I’ve given the company everything for years. Now I take a few weeks for my family and suddenly they
doubt my commitment? This is just an excuse. They’ve been nagging me to sell for two years.”
I undid the top button of my shirt, but that didn’t make breathing any easier.
“I can’t believe we didn’t get wind of this until now.”
Adam cursed. “Sullivan is sly, I’ll give him that. I didn’t even know he was talking to the board outside our meetings.”
My absence had simplified everything.
“I’ve called an emergency meeting with the board, but you have to be here, Landon. You’re the only one who can convince them that selling isn’t the only option.”
“I know.” I pressed my free palm against my temple. A dull ache was forming there. “What time is the meeting?”
“Six o’clock.”
“Okay. I’ll whip up a plan and call you later.”
I called Hailey next, explaining everything. I hated that the situation had escalated so far out of my control.
“This is insane. But Adam’s right. You need to confront your board and convince them. I like Adam, but he doesn’t have your charisma, your charm. It’s good that he knows that. I can handle things here, and Val’s cast comes off in a few days. You do what you have to do. If we can help in any way, just say the word.”
***
Maddie