Chapter 5 - NORTHSTAR
Northstar Biologics was failing.
Publicly, it looked promising.
Privately, it was burning cash.
Vale Holdings had considered acquiring a controlling position because its patent portfolio included a manufacturing platform Malcolm believed could become valuable under better leadership.
Lucas Cross had another interest.
He owned, through two shell companies, a significant block of distressed Northstar debt.
If Vale acquired the company at the expected price, Lucas’s position could increase dramatically in value.
He had never disclosed it.
Malcolm’s compliance team found the connection overnight.
The shell companies were:
Larkspur Partners.
Crescent Bay Capital.
Both traced to a trust controlled by Lucas.
Eleanor placed the findings on Malcolm’s desk at seven the next morning.
He had not slept.
Serena had spent the night at a hotel after refusing to leave quietly until security escorted her to the driveway.
The wedding had not yet been canceled publicly.
Malcolm wanted facts first.
Always facts.
He read the ownership records.
Then looked at Eleanor.
“How much does Lucas make if we close Northstar?”
“Potentially twenty-seven million.”
Malcolm exhaled.
“And Serena?”
“No direct holding found.”
“Yet.”
“Correct.”
There was more.
Emails between Serena and Lucas.
Not explicit criminal conspiracy.
Worse in a subtler way.
Lucas:
If you get household and emergency authority signed before the vote, Malcolm won’t be able to freeze us out if he gets cold feet.
Serena:
He won't. He hates conflict before big deals.
Lucas:
Then make tonight soft.
Serena:
Trust me.
Malcolm read that line twice.
Make tonight soft.
Dinner.
Wine.
Marriage.
Warmth.
Then papers.
He thought of every evening Serena had touched his shoulder while he signed something.
Every time she said:
You work too hard.
Let me help.
Had she always been manipulating him?
Probably not.
That was the difficult truth.
People can care and exploit at the same time.
Love does not make greed impossible.
Sometimes it makes access easier.
Malcolm canceled the Northstar vote pending conflict review.
The market did not know why.
Lucas did.
He called repeatedly.
Malcolm did not answer.
Then Serena arrived at Vale Holdings with her attorney.
May you like
Not to apologize.
To negotiate.
