“Perhaps because I know how big a risk it is. Steel is a valuable commodity, but what if the market turns? Even a bank as large as ours is not impervious to the whims of the market, and investing most of our capital in a single corporation is risky. Natalia is leery of the deal, and so am I.”

A door gently closed behind her, and Patrick joined her on the porch with a thick legal document in his hand. His expression was alert with tentative hope.

“Good news?” she asked.

“I don’t know,” he whispered. “Maybe.” He turned his attention to Frederick as her grandfather continued speaking.

“Oscar believes this is the most profitable business deal of the century, and he may be right.” Frederick moved his ball through the course with ease as he tapped it with a gentle snick. “Then again, maybe not. The unions are hostile, which adds another element of risk.”

“You got that right,” Liam said. “I’ve talked to hundreds of men, and not one of them—”

Frederick straightened and sent Liam a swift warning glare. “Another rule to follow, my boy. When you sense an opponent is swaying in your direction, it is best to shut up and listen. Understood?”

Liam immediately conceded. “Yes, sir.”

Gwen could scarcely believe her ears. Was Frederick reconsidering his vote? She didn’t care about steel one way or the other, but if her grandfather was willing to split with Oscar on this, perhaps he’d reconsider funding for the college as well. Beside her, Patrick reached for her hand and squeezed. They both held their breaths, listening to the conversation on the lawn.

“I am not as heartless as the world believes,” Frederick continued. “I care about the people who work in Blackstone-financed mills and factories. I’m not convinced their rights can be safeguarded in a massive corporate conglomeration headquartered a thousand miles from the mills where people work.” He straightened and met Liam’s gaze. “Your father would have voted against this merger. I am skeptical about investing too much of our capital into a single corporation, but your father would have objected for humanitarian reasons. How can a company protect a far-off workforce the management never looks in the face? Theodore was a compassionate man, far too gentle for the world of finance. I will vote against the merger in his honor.”

Liam dropped his croquet mallet and let out a mighty whoop of joy, but Frederick hadn’t stopped speaking.

“Don’t get overly excited,” Frederick cautioned. “Switching my vote is purely symbolic. Oscar has unanimity among the other shareholders, and they will endorse the merger. The vote will be seventy to thirty to support the merger.”