Gillett deal.

[Neil Young]

Secondly if EVERY bidder is legally oblidged to be allowed due dilligence whats to stop this going on adinfinitum. Gillett bids proceeds with due dilligence, Lecter bids proceeds with due dilligence, An Evertonian bids proceeds with due dilligence etc...

I think there is a time limit from the date of the first bid accepted (or whatever) so it can't be held up forever if the seller and one of the buyers want it to go ahead.

Maybe Gillett wants to make a bid because he really, really wants the club (for business not emotional reasons) so he's doing all he can to get it. If DIC want it they aren't going to be put off because Moores has got a second suitor.

I don't think it's worth worrying about.

[AFII]

Moores gets ready to sell Liverpool to Arab bidder
Oliver Kay
Dubai International Capital (DIC) is expected to launch its takeover of Liverpool after next weekend’s Merseyside derby against Everton, despite the club’s announcement last night that they have received a rival approach from Robert Gillett, the American sports tycoon.

Liverpool confirmed to the Stock Exchange shortly before last night’s close of business that Gillett, owner of the Montreal Canadiens ice hockey franchise, had made an approach “which may or may not lead to an offer”, but, regardless of the American’s plans, DIC, the private-equity investment arm of the Arab state, remains by far the club’s favoured bidder.

DIC’s offer was expected to be made official at the start of this month, but the due diligence process has taken longer than was anticipated, prompting Gillett to write to the club’s board last weekend informing them of his intention to make an offer.

However, Sameer al-Ansari, DIC’s chief executive, is expected to attend next Saturday’s match against Everton at Anfield and to stay in Merseyside to make a formal announcement early the next week.

David Moores, the Liverpool chairman, has already signalled his willingness to accept DIC’s £80 million offer for his 51.6 per cent shareholding, an offer that would then be extended to the club’s remaining shareholders. Although Gillett’s offer may prove more lucrative for Moores, the chairman’s preference is for DIC’s bid, which significantly includes a promise to underwrite the construction of a new £200 million stadium on Stanley Park. Construction of the new stadium is scheduled to begin in March.

http://www.timesonline.co.uk/article...569288,00.html

[Morph]

If anything this should prove to all the Moore's doubters that he only ever had the best interests of the club at heart. He'll be willing to accept a lesser offer (should the dic deal go through) for his shares to benefit the future of the club, with regards to building the new stadium and hopefully an increased transfer kitty. That tells me that he's a good man, and isn't just a case of selling the club to anyone which some have inferred.

[Guest]

Is Moores obliged to wait until Gillett's due diligence is over to formally accept DIC's bid under company regulations ?

[The Glove]

What if Gillett is doing a deal with DIC?

They buy Moores out then sell to Gillett and make a quick profit.

[Guest]

What if Gillett is doing a deal with DIC?

They buy Moores out then sell to Gillett and make a quick profit.

This would mean that Moores is a dog.

[red g]

Is Moores obliged to wait until Gillett's due diligence is over to formally accept DIC's bid under company regulations ?

i wouldnt of thought so. Surely they are his shares he can do what he wants, when he wants with them

[Guest]

i wouldnt of thought so. Surely they are his shares he can do what he wants, when he wants with them

So Gillett is wasting his time. Surely the club would have told him that it's ridiculous for him to start due diligence if he has no chance.

[Armchairkopite]

It doesn't look like that from what Oliver Kay is saying, is he credible?

[red g]

So Gillett is wasting his time. Surely the club would have told him that it's ridiculous for him to start due diligence if he has no chance.

i think thats the wholepoint......he is allowed due diligence bylaw, what i dont get though is that if we are so cut and dried with the dics then Moores tells gillett he is wasting his time although he may wanna have a look with a view of bidding for another club

[Parm]

Im quite happy with DIC taking over Gillet had feck off he had his chance and now looks to be bulling about missing out on us and is just messing at this stage.

I taught the DIC was well in truly tied up so if he want he couldnt..???

Is Gillet just chancing his arm? maybe he thinks if there is a delay with DIC then he can take advantage, maybe thinks we will be desparate to do a deal and he can offer the quickest solution?

[bazza76]

Just a quick question re. Gillette.
Is he an elaborate type of bloke?. I know nothing of his ice hockey team, but his basketball team (the harlem globe trotters) were certainly that. Is it possible that he might want to pack the anfield dressing room with lots of highly tallented individuals?.

PS: Id still rather DIC take over.

[Neil Young]

Is Moores obliged to wait until Gillett's due diligence is over to formally accept DIC's bid under company regulations ?

I'd guess there's a period from the first announcement in which anyone can make a counterbid. Once that period's up Moores can do what he likes.

I am only guessing though so take it with a pinch of salt. It's just based on snippets froim the press that I've managed to remember and commonsense. I'm sure there are plenty of people on here who know more about takeovers than I do.