Stock Market as Acquisition War Chest

“Arnault knows, however, that he cannot play the game of "my ideas, your money" with financiers for long. Especially if he wants to attack healthy companies. This observation is not an obstacle, however. The miracle solution exists. It's the stock market. Next time, instead of relying on financial support from investors, he will introduce the capital of his various companies to the stock market.”

“Each call to the market will now provide him with his starting investment. The best way to orchestrate takeovers with other people's money. Small shareholders will thus replace the bankers of the early days.”