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+--- Thread: Takeover (/showthread.php?tid=31655)
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RE: Takeover - SausEggBaton - 01-15-2024
Be interesting to see how Patel has/is managing to finance the purchase, information surrounding that should be available at sale, no? Shirley? Reason I mention it, and don't get me wrong I want Lai out the club faster than a Seagull going after an ice cream on Blackpool peer, is that although the Patel family appear to be very self financed and self sufficient, one would imagine they are not using "the $2 Bn. assets they manage" as providing funds or affordability, since "they manage them" and are potentially not theirs, it is escaping or would certainly surprise me and most of us, that they would ineffect, walk in and hand over £60m of their own family bank balance. That would be far too much risk, again, Shirley?
RE: Takeover - ColliersWoodBaggie - 01-15-2024
(01-15-2024, 09:50 AM)Remi_Moses Wrote: I see the Chinese being a major stumbling block.
IMO they will try every trick in the book to hike the price, hide stuff and every week get paid.
Until we reach the stage where the buyer is talking about pulling out, we certainly won't be close to any deal being completed. MSD could then force a sale but we have to wait and see.
We could all be plesently surprised and it could all go through smoothly.
All we can say is they are talking.
I presume they cannot do that once talks are in advanced stages. This is business pride and Lai and his people need to behave with integrity. Plus, the Government there will cast an eye over this as they want no more overseas Chinese involvement in sport.
RE: Takeover - Babel - 01-15-2024
Maybees I missed a post or point or two, but do we KNOW that the Patels have exclusivity?
RE: Takeover - CaptainFantastico - 01-15-2024
(01-15-2024, 10:09 AM)Babel Wrote: Maybees I missed a post or point or two, but do we KNOW that the Patels have exclusivity?
Just don’t pay too much attention to the concept
RE: Takeover - Crossbar11 - 01-15-2024
(01-15-2024, 10:11 AM)CaptainFantastico Wrote:(01-15-2024, 10:09 AM)Babel Wrote: Maybees I missed a post or point or two, but do we KNOW that the Patels have exclusivity?
Just don’t pay too much attention to the concept
Still none the wiser
RE: Takeover - CarlosCorbewrong - 01-15-2024
You have to call him "Captain" otherwise he won't answer.
RE: Takeover - Peachy - 01-15-2024
(01-15-2024, 10:41 AM)Crossbar11 Wrote:(01-15-2024, 10:11 AM)CaptainFantastico Wrote:(01-15-2024, 10:09 AM)Babel Wrote: Maybees I missed a post or point or two, but do we KNOW that the Patels have exclusivity?
Just don’t pay too much attention to the concept
Still none the wiser
I think Captain is alluding to the fact that the deal is well past that stage?
RE: Takeover - CaptainFantastico - 01-15-2024
Basically that once it became mentioned it became an obsession to people as an indicator of timescales. It never was and never has been. I have no info on the deal being concluded this week (Jacko may well be right) but it’s also certainly not months away or as far back as some people think
RE: Takeover - MancBaggie - 01-15-2024
(01-15-2024, 09:15 AM)Mullers Wrote:(01-15-2024, 09:01 AM)ColliersWoodBaggie Wrote: Liquidator Podcast was fairly gloomy about the takeover.
To me, it all comes down to when Patel was granted exclusivity. If it was as recent as last week or even the first week of January (ie shortly before John Percy reported), then I’d be surprised if anything was announced before the end of January, given the time needed for buy-side due diligence. If, however, Patel was granted exclusivity before Christmas and all sides managed to keep it under wraps until the reports last Friday, it is certainly very possible that a deal could be concluded (subject to league approvals) this month.
Either way, I’m hoping for the club to tweet an American flag before the top of the hour and we can all relax.
Largely agree.
In corporate transactions, the purchaser's financial and indeed legal due diligence can often be done before exclusivity is granted - which of course means that much of it has been done here.
However, negotiation of the Share Purchase Agreement for the target entity would only take place once exclusivity is granted - as of course the Seller's solicitor would not waste the time and costs of negotiating 3 different SPAs.
Once exclusivity is granted to the preferred Buyer, then it normally takes at least 4 weeks to negotiate the SPA and complete the takeover (although Derby and others have done it more quickly).
RE: Takeover - rsbaggy2 - 01-15-2024
I posted on 20 Dec 2023
I am not in the know or anything but heard from a Dingle (the one) who has connections, and he has been told 3 months not 3 weeks to takeover. The sale figure he says is less than £60m.
Well seems as though 3 months could be about right. My Dingle mates source was/is very credible. So I am not looking anytime before Feb 2024 ends. Hope that's wrong and we can complete sooner.