Galnet archive

Core Dynamics Insider Discusses Lakon Takeover

An anonymous source within the shipbuilding corporation Core Dynamics has revealed details behind its hostile takeover of Lakon Spaceways.

The nameless insider had previously stated that the acquisition of Lakon was the personal project of Core Dynamics CEO Jupiter Rochester. These additional claims were broadcast via Vox Galactica:

“In the last few years, Rochester has purchased many companies based outside the Federation, such as Vodel. Lakon Spaceways is just the latest. It seems legal, but he manages these subsidiaries directly and installs his own people there. Some say he’s diversifying his family’s private holdings, rather than expanding the business.”

“It’s well known that several departments only follow Rochester’s directives, and operate in silos unconnected with the rest of Core Dynamics. Staff refer to them as ‘Jupiter Division’. Some offices even started using that name, like they’re a separate company within a company.”

“I’ve heard that some directors are unhappy with Rochester, but he’s too well-connected to ever get rid of. It’s thanks to him that we have so many military contracts. As always, the rich get away with anything.”

Core Dynamics declined to comment on this statement. Naomi Landseer, former chairperson of the Lakon Spaceways board of directors, has asked the Independent Commission for Market Equality to investigate further.

Core Dynamics Purchases Lakon Spaceways

The shipbuilding company Lakon Spaceways has officially accepted a bid for ownership from Federal corporation Core Dynamics.

The proposal from Core Dynamics CEO Jupiter Rochester was ratified following a majority vote by Lakon’s board of directors, many of whom were recently appointed following resignations demanded by shareholders.

Trent Delaney, the new chairperson, confirmed the merger in a public statement:

“We are overjoyed that Lakon Spaceways will join the Core Dynamics family, thereby overturning the mistakes of the previous management and setting us on course for a bright future.”

“The transfer of ownership will take another two months to formalise. In that time, it will be business as usual for the manufacture and sale of our ships.”

The Federal Commerce Authority has approved the corporate takeover. However, the Independent Commission for Market Equality is still investigating reports of irregularities.

The Council of Admirals has expressed concerns that a military supplier for the Alliance Defence Force should be owned by a Federal defence contractor. Admiral Rachel Ziegler informed the Assembly:

“Regardless of our cordial relationship with the Federation, security issues will inevitably arise if the Alliance Chieftain and her sister ships are constructed by a foreign power. The ADF is already woefully underfunded, and this places extra strain on our ability to defend our interests.”

Lakon Spaceways Faces Financial Collapse

Economic instability has caused the value of shares in Lakon Spaceways to drop to unprecedented lows, placing the company’s future in doubt.

A hostile takeover bid by Federal corporation Core Dynamics has raised concerns in the Alliance over the loss of a major defence contractor. The Independent Commission for Market Equality has also reported irregularities in the recent transfer of share ownership, which may lead to criminal investigations.

As a result, although Lakon Spaceways continues to manufacture and sell ships, its lack of reserves and a loss of confidence among investors may lead to insolvency and dissolution.

Trent Delaney, the newly appointed chairperson of Lakon’s board of directors, announced:

“Financial mismanagement and a litany of poor business decisions have led to this situation. Rest assured that once formal negotiations with our new parent company are complete, Lakon’s stock will rise to new heights.”

According to Federal business analysts, there are indications of displeasure among Core Dynamics senior directors regarding this takeover. An anonymous source from within the corporation told Vox Galactica:

“The Lakon merger is entirely Jupiter Rochester’s project. Frankly, it’s sheer greed. Our income has soared recently with new commissions from the Navy, but Rochester’s grabbing hands are always reaching for something. He runs the departments that are loyal to him like they’re his personal kingdom.”

Investors Take Control of Lakon Spaceways

A coalition of Lakon Spaceways shareholders has voted to replace several members of the company’s board of directors with new management.

At an emergency general meeting, investors put forward a resolution to remove selected directors, in accordance with Lakon’s articles of association. The majority vote was in favour of this resolution.

New appointees to the board have already stated that the rejected bid by Federal shipbuilder Core Dynamics will be reappraised. Jupiter Rochester, the corporation’s CEO, has welcomed the opportunity for fresh discussions.

Chairperson Naomi Landseer, who is one of the directors being replaced, told Vox Galactica:

“It’s no coincidence that the board members being voted out are the same ones who were against Core Dynamics owning the company. I am convinced that Rochester’s people are bribing or threatening our shareholders to make sure this hostile takeover goes through.”

Lakon Spaceways is currently offering a 30% discount on sales of Asp Scouts, Diamondback Scouts, Keelbacks, Type-7 Transporters and Type-10 Defenders.

Core Dynamics has applied a 30% markdown to sales of the Eagle MkII and the Vulture, with a 20% discount for Federal Assault Ships, Federal Dropships and Federal Gunships.

Core Dynamics Funds Takeover with Ship Discounts

*Pilots Federation ALERT*

Prices for several Core Dynamics vessels have been temporarily reduced, as part of an attempt to purchase Lakon Spaceways.

The shipbuilding corporation has applied a 30% discount to sales of the Eagle Mk II and the Vulture. There is also a 20% discount on sales of Federal Assault Ships, Federal Dropships and Federal Gunships, although the Federal Navy rank requirements for each vessel continue to apply.

The reduced prices are expected to last until the 30th of December 3306.

Core Dynamics recently made a proposal to acquire rival company Lakon Spaceways, which rejected the offer then applied markdowns to its own ships to increase short-term profits.

The Alliance Tribune’s business reporter Irfan Karim speculated on these developments:

“CEO Jupiter Rochester remains tight-lipped on the reasons for these discounts, but it seems likely that he is raising funds for a more aggressive bid. Rumours are circulating of Lakon investors being bribed to sell their shares, or coerced into demanding that the board of directors accepts ownership by Core Dynamics.”

“Many industry analysts are convinced that a hostile takeover of Lakon Spaceways is underway. If successful, we could see vessels that are commonly associated with the Alliance – such as the Chieftain and Type-10 Defender – manufactured by a Federal corporation in the future.”

Lakon Spaceways Discounts Selected Ships

*Pilots Federation ALERT*

Temporary price reductions have been announced for several Lakon vessels, in an effort to increase short-term profits.

Lakon Spaceways has applied a 30% discount on sales of the following ship types:

Asp Scout

Diamondback Scout

Keelback

Type-7 Transporter

Type-10 Defender

The reduced prices are expected to last until the 30th of December 3306.

Some industry analysts believe this is an attempt to increase short-term payouts for Lakon’s shareholders, many of whom have complained about falling dividends. Other investors have publicly pressured the company to accept a takeover bid from the Federal corporation Core Dynamics.

These issues were addressed by Naomi Landseer, chairperson of Lakon’s board of directors:

“It is true that profit margins are not as impressive as in previous years, but we can assure all stakeholders and customers that Lakon Spaceways remains financially secure. We project an upswing in military contracts during this turbulent time, and our achievements on behalf of the Alliance position us as one of the galaxy’s premiere shipbuilders.”

Lakon Spaceways Rejects Core Dynamics Bid

A proposal by the Federal corporation Core Dynamics to purchase the construction company Lakon Spaceways has been officially rejected.

Naomi Landseer, chairperson of Lakon’s board of directors, made this statement:

“We thank Mr Rochester and his team for their approach. However, I can confirm that Lakon Spaceways will remain an independent company.”

Business reporter Irfan Karim analysed the situation more closely for The Alliance Tribune:

“This decision has surprised many analysts, considering the persistent rumours that Lakon is in far greater difficulty than financial statements would suggest. Although its shipbuilding partnership with the Alliance proved highly lucrative, insiders believe that the firm has overstretched itself in terms of resources and manpower.”

“There have also been public comments from high-profile shareholders in Lakon, who are pressuring the board to accept ownership by Core Dynamics. Some complain of falling dividends, while others accuse Ms Landseer of focusing exclusively on Alliance contracts.”

A spokesperson for Core Dynamics confirmed that the offer to purchase Lakon Spaceways has not yet been withdrawn, and that CEO Jupiter Rochester is looking at all available options.

Core Dynamics Bids to Purchase Lakon Spaceways

An official bid for complete ownership of Lakon Spaceways has been made by Core Dynamics, a major shipbuilding corporation in the Federation.

The announcement caused ripples in the manufacturing sector, particularly as Lakon has been in partnership with the Alliance for several years.

The newsfeed Sol Today featured a statement by Jupiter Rochester, the CEO of Core Dynamics:

“Lakon Spaceways has made a name for itself with its practical and well-respected ship designs – the workhorses of the galaxy. Core Dynamics can help the company reach greater heights, and be even more successful.”

“This can only be a positive move for both corporations. As with our acquisition of Vodel last year, Lakon will retain its talented engineers and production facilities while operating under our guidance.”

There has been no response yet from the board of directors at Lakon Spaceways. Some industry specialists have speculated that the company may have financial difficulties, after investing heavily in the Alliance Chieftain and its sister ships.

Questions have been raised in the Alliance Assembly about the legality of inter-superpower corporate mergers. However, neither the Federal Commerce Authority nor the Independent Commission for Market Equality have disapproved of the proposal.