Chapter 4 - TITAN'S REAL INTEREST
Patrick did not lie once Adrienne forced the question.
Titan Capital had identified three valuable pieces inside Blake & Vale.
The logistics division.
The commercial real-estate portfolio.
The medical packaging unit.
Together they were worth more separately than the struggling parent company.
A classic breakup thesis.
Adrienne stared at Patrick across his conference table.
“So if I help Titan take control, you may sell the company in pieces.”
“Yes.”
“And employees?”
“Some divisions would survive. Some corporate functions would not.”
“How many jobs?”
“Potentially hundreds.”
Adrienne sat back.
She had called for revenge.
Now revenge had employees.
Families.
Mortgages.
People she had not considered in the car while Chloe cried.
Patrick said:
“This is why I asked what you wanted.”
“You already had this plan.”
“Yes.”
“Did Michael know?”
“Yes.”
That hurt again.
Adrienne turned toward the window.
“How long?”
“Before he died.”
She looked back.
Patrick opened another file.
Michael had consulted quietly with Titan about Blake & Vale.
Not to acquire it.
To rescue it.
He believed Serena’s expansion strategy would eventually create a debt crisis.
He wanted Adrienne to be prepared.
“He never told me.”
“He thought you wanted nothing to do with the family company.”
“I did.”
Patrick nodded.
“Until the family company came back into your life through Chloe.”
That was true.
Adrienne hated it anyway.
She asked:
“What did Michael recommend?”
Patrick read from an old memo.
KEEP CORE OPERATIONS TOGETHER.
REMOVE FAMILY VOTING CONTROL.
PROTECT EMPLOYEE PENSIONS.
SELL ONLY NONCORE REAL ESTATE.
Adrienne felt tears rise.
Even dead, Michael was arguing with the future.
“He expected Serena to fail?”
“He expected debt to expose her.”
“Did he think Mom was involved?”
Patrick hesitated.
“Yes.”
“How?”
Patrick showed her a confidential financing schedule.
Margaret had guaranteed portions of Serena’s acquisition using family trust assets.
Not illegal necessarily.
But hidden from Raymond and several board members.
Adrienne stared.
“They risked Grandpa’s trust.”
“Yes.”
“Why?”
“To keep Serena’s deal alive.”
Again.
Margaret protecting Serena.
But now favoritism threatened the entire company.
Adrienne made a decision.
“No breakup.”
Patrick frowned.
“Adrienne—”
“If Titan wants my voting coalition, no breakup.”
“That changes valuation.”
“Then change it.”
“Titan’s investment committee will resist.”
“Let them.”
Patrick studied her.
“You’re bargaining before you control anything.”
“Yes.”
For the first time, he smiled.
“Walter would enjoy this.”
Adrienne did not.
She had spent her life avoiding the family boardroom.
Now she was thinking like someone born for it.
That evening, Serena came to Adrienne’s house.
Alone.
She stood on the porch in sunglasses though the sky was cloudy.
Adrienne did not open the door fully.
“What?”
Serena lowered her voice.
“You need to back off Titan.”
“Why?”
“They’re vultures.”
“So you agree the company is weak.”
Serena’s jaw tightened.
“It has temporary leverage pressure.”
“Debt crisis.”
“Temporary.”
“Your acquisition caused it.”
Serena’s eyes flashed.
“You have no idea how to run a company.”
“Maybe.”
“Then why are you doing this?”
Adrienne looked at her.
“Because you pushed my daughter to the floor and then called it an accident.”
Serena’s face changed.
For a second, guilt almost appeared.
Then status took over.
“Chloe embarrassed me in front of people.”
Adrienne stared.
“She is five.”
“I know.”
“Do you?”
Serena stepped closer.
“You think being the quiet sister makes you good. It just makes you passive.”
Adrienne said nothing.
Serena continued:
“Grandpa chose me for a reason.”
“Did he?”
Serena smiled.
“Yes.”
Then she pulled an old letter from her purse.
Walter’s handwriting.
Adrienne read one line.
SERENA IS THE ONLY GRANDDAUGHTER I TRUST TO LEAD BLAKE & VALE.
Adrienne’s stomach tightened.
Serena smiled.
“You have shares.”
May you like
She tapped the letter.
“I have his faith.”
