MM delay

[OldGit]

So in a nutshell...

What the hell is going on?:icon_lol:

Something or nothing :icon_bigg

 

[alex]

So in a nutshell...

What the hell is going on?:icon_lol:

If if's and buts were coconuts........

 

[Matt_B]

I hate coconut

 

[highland fox]

I like Bountys

 

[Yorkshire Vixen]

me an all h!!!

 

[alex]

I like Bountys

Only blue ones...

 

[Matt_B]

I like Bountys

All we need right now is some mutiny

 

[highland fox]

Only blue ones...

Oh aye not keen on dark chocolate.Ruffle Bars are ok though,bit hard to track down though

 

[bocadillo]

So far they are the only ones who haven't got ahead of themselves. So out of everyone (In the know people on here, Radio Leicester and the Mercury) I would be inclined to believe them if they posted now and said the bid hadn't been received.

The FT haven't gpt ahead of themsleves?? They certainly got ahead of themselves in canvassing members opinion on a ground-share in the case of the deal not going through!

Trust me - the bid has been received.

Saying it hasn't arrived when it has, serves no purpose for them that I can see.

What this discussion is really about is a bid-document - I would not expect that to be posted until the prospective buyer has the agreement that it will be acceptable when received. So probably the document has not been received - but the terms of it are clear to the Board, and to the FT.

 

[Matt_B]

The FT haven't gpt ahead of themsleves?? They certainly got ahead of themselves in canvassing members opinion on a ground-share in the case of the deal not going through!

Trust me - the bid has been received.




What this discussion is really about is a bid-document - I would not expect that to be posted until the prospective buyer has the agreement that it will be acceptable when received. So probably the document has not been received - but the terms of it are clear to the Board, and to the FT.

Boc, do you know the legalities I mentioned earlier, as in when he submits his final bid is he legally tied in, or can he walk away still?

 

[SilverFox]

Boc, do you know the legalities I mentioned earlier, as in when he submits his final bid is he legally tied in, or can he walk away still?

No one is bound until exchange of contracts. A bid is just an offer, without acceptance there is no contract and he (Milan) would not be bound.

That is the basic principle of Law of contract. I couldn't say for sure in this scenario but the basic principles don't really change.

 

[bocadillo]

So in a nutshell...

What the hell is going on?:icon_lol:

A rather unhealthy amount of indecision, with all parties spending time preparing their damage-limitation wasn't-my-fault statements.

 

[Foxes_Trust]

Aparently MM will pay 47p in the pound now and 47p later. He only wants 75% of the shares and will keep TD on for 6 months, although hes likely to be gone in 2

That isn't the version that we believe to be current, but the bid has changed that many times, hence why we don't post the details. That said the % of shares has been a constant for sometime now.

But we still await the final bid...........

 

[Matt_B]

Can we expect any NEW news this week FT?

 

[Foxes_Trust]

Yes, but you can guarantee the current board won't allow that. That is why MM has agreed to 75% but not a full controlling share. That is possibly what the delay has been about.

No, that element of the plan has been in place for a long while. It's more about the chances of 75% of shareholders agreeing to it, 90% looked unlikely

 

[drew]

Ever thought FT that you might have such an insignificant amount of shares the board wont chase you round for a decision. After all all the other shareholders can make a decision without passing it to a vote, then a recount a bit of back slapping and then the answer.

 

[bocadillo]

Boc, do you know the legalities I mentioned earlier, as in when he submits his final bid is he legally tied in, or can he walk away still?

Nothing is final until the contract is signed. It seems to me that sometimes a bid document is sent and received and then the discussions start. In this case, it seems that they want to get all the matters sorted so that the bid document will be the final bid document which is acceptable to all parties.

This seems sensible to me. The final bid document will become known to the public, so why cause anybody any embarrassment by issuing it only to have it turned down.

 

[Matt_B]

True, I just want something new and something official, even it it's just that things are going well or badly.

I can't see the deal being dead, because if the board know it is, then what do they have to gain by holding the info back?

 

[alex]

FT what the feck is going please? At the very least I would have thought a silence from you today would mean a lot.....?

 

[drummindefender]

i have no idea what any of you are talking about-does it look positive (as in the takeover being completed!) or are we in the shit? :icon_conf