I think a takeover deal is done
in [Liverpool]
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From: CJM on 4 Aug 2010 08:19 "Motster" <spamkiller(a)wherever.com> wrote in message news:nUY5o.53368$2%2.1703(a)hurricane... > > > "Google Beta User" <wanyikuli(a)gmail.com> wrote in message > news:e3bd024a-e15b-4ebf-bf8f-c804baaa4c76(a)j8g2000yqd.googlegroups.com... > On Aug 3, 11:09 am, "michael adams" <mjadam...(a)ontel.net.uk> wrote: > >> The only fly in the ointment hanging over any sale of the club, is that >> the price now being asked is much considerably lower than Hicks and >> Gillet >> were originally asking. Although it will still allow them to walk away >> with >> a profit. > > Can the banks force a sale? Is it up to the LFC board, or to Hicks/ > Gillette? > > > To answer your questions. > Yes, Yes & No in that order. > > RBS as part of the latest debt restructuring forced a change on to the LFC > board voting majorities. This was because Hicks & Gillette / the club > could not repay the debt at a rate RBS were happy with. > > It basically boils down to if the rest of the board (excepting Hicks & > Gillette) agree to a sale then Hicks & Gillette cannot block it. > > RBS have the ultimate sanction of forcing the club into administration and > taking control themselves if Hicks, Gillette or the board start playing > silly buggars over the sale. > > Upshot of all this is that the �800 million asking price that Hicks & > Gillette touted around last year is meaningless and it is RBS that will > dictate the selling price. > > This. RBS won't dictate the price, but if an acceptable (to RBS) offer is received, they will give the board an instruction to either accept the offer or to accept another offer within a matter of days. The Board will make this decision and H&G will have one vote each alongside Broughton, Ayres and Purslow...
From: John W.. on 4 Aug 2010 09:43 On 04/08/2010 13:19, CJM wrote: > > "Motster" <spamkiller(a)wherever.com> wrote in message > news:nUY5o.53368$2%2.1703(a)hurricane... >> >> >> "Google Beta User" <wanyikuli(a)gmail.com> wrote in message >> news:e3bd024a-e15b-4ebf-bf8f-c804baaa4c76(a)j8g2000yqd.googlegroups.com... >> On Aug 3, 11:09 am, "michael adams" <mjadam...(a)ontel.net.uk> wrote: >> >>> The only fly in the ointment hanging over any sale of the club, is that >>> the price now being asked is much considerably lower than Hicks and >>> Gillet >>> were originally asking. Although it will still allow them to walk >>> away with >>> a profit. >> Maybe not a done deal http://msnsport.skysports.com/story/0,19528,12040_6293794,00.html
From: michael adams on 4 Aug 2010 10:11 "CJM" <cjmuk2008(a)gmail.removethis.com> wrote in message news:8bt45mFlsbU1(a)mid.individual.net... > > "Motster" <spamkiller(a)wherever.com> wrote in message > news:nUY5o.53368$2%2.1703(a)hurricane... > > > > > > "Google Beta User" <wanyikuli(a)gmail.com> wrote in message > > news:e3bd024a-e15b-4ebf-bf8f-c804baaa4c76(a)j8g2000yqd.googlegroups.com... > > On Aug 3, 11:09 am, "michael adams" <mjadam...(a)ontel.net.uk> wrote: > > > >> The only fly in the ointment hanging over any sale of the club, is that > >> the price now being asked is much considerably lower than Hicks and > >> Gillet > >> were originally asking. Although it will still allow them to walk away > >> with > >> a profit. > > > > Can the banks force a sale? Is it up to the LFC board, or to Hicks/ > > Gillette? > > > > > > To answer your questions. > > Yes, Yes & No in that order. > > > > RBS as part of the latest debt restructuring forced a change on to the LFC > > board voting majorities. This was because Hicks & Gillette / the club > > could not repay the debt at a rate RBS were happy with. > > > > It basically boils down to if the rest of the board (excepting Hicks & > > Gillette) agree to a sale then Hicks & Gillette cannot block it. > > > > RBS have the ultimate sanction of forcing the club into administration and > > taking control themselves if Hicks, Gillette or the board start playing > > silly buggars over the sale. > > > > Upshot of all this is that the �800 million asking price that Hicks & > > Gillette touted around last year is meaningless and it is RBS that will > > dictate the selling price. > > > > > This. > > RBS won't dictate the price, but if an acceptable (to RBS) offer is > received, they will give the board an instruction to either accept the offer > or to accept another offer within a matter of days. > > The Board will make this decision and H&G will have one vote each alongside > Broughton, Ayres and Purslow... While what you're say is true I'm not sure how anyone can actually force H&G to sell their shares, if they point blank refuse to. Whatever anyone says. Its not as though they can kidnap and torture them until they sign on the dotted line. Presumably it would take a Court Case which could drag out for months while in the meantime the bird - the buyer may well have flown This is assuming they don't default on their repayments to RBS. However given the amount they've been siphoming out of the club this is unlikey IMO. If push came to shove money would probably start appearing from all over the place to save the day. But that's only a guess. michael adams .... > >
From: Google Beta User on 4 Aug 2010 10:11 On Aug 4, 9:43 am, "John W.." <"Liverpool18,5"@europe.co.uk> wrote: > Maybe not a done deal > > http://msnsport.skysports.com/story/0,19528,12040_6293794,00.html I understand that Syrian (or I don't know if it was another one) is mates with Gillete's kid? Hope it's not a stall tactic by H&G.
From: michael adams on 4 Aug 2010 10:16
"lescor" <lescorbett(a)btinternet.com> wrote in message news:l8WdnVgi873Q1cTRnZ2dnUVZ8rKdnZ2d(a)bt.com... > > > "michael adams" <mjadams25(a)ontel.net.uk> wrote in message > news:8brglvF6kpU1(a)mid.individual.net... > > > > Anyway, at the end of last season both Torres and Gerrard were > > concentrating on > > the forthcoming World Cup. > > > > That's what they were focussed on. > > Focused on? LOL.....are you really saying that they cannot handle training > whilst making a simple statement? > > LC > We're not all Albert Einstein, Les. There you go again, judging everyone by your own standards. michael adams .... |