DIC have pulled out

[AFII]

I think a company board need a 66% majority for a takeover to be accepted but I'm not sure.

[Boogs]

Just a small point. It is Gillett Not Gillette.
Not the same guy who makes Razors!

[Pacman]

You are letting your disappointment cloud your judgement about our board.
Fair enough, that's how most are feeling.
But how do you know our board didn't say to DIC "We have 2 bids in front of us, the other bid i for more money than yours, the board feels it has to recommend the bigger offer to the shareholders, please up your bid" ?

But why?

Why does more money per share mean it's a better deal? Surely a man with endless pots of cash and more financial clout than the Chelsea owner must count for a lot?

[Red Chilli]

Mate read the reports in the Times, Telegraph etc. They say DIC frantically tried to get in touch with Parry and Moores, but they kept getting fobbed off and were getting ambiguous and unclear responses from them.

Have they got evidence of this?

Or is it "A DIC representitive said....." because until I see evidence of this I refuse to point the finger.

Don't we know better, as LFC fans, to wait and see the evidence before believing the press?

[Red Chilli]

I think a company board need a 66% majority for a takeover to be accepted but I'm not sure.

Nope, 50.1% is enough.
75.1% to make it a private company and not a PLC
90% to enforce remaining shareholders to sell their shares.

[Pacman]

Mate read the reports in the Times, Telegraph etc. They say DIC frantically tried to get in touch with Parry and Moores, but they kept getting fobbed off and were getting ambiguous and unclear responses from them. A DIC representative even had to go to London to see them personally as a result. Yet all the time the board were meeting, with Gillette in attendance. Cloak and dagger stuff, as Pacman says.

These are not tabloid papers, and given what our board is like, I would not rule out as being true some of the allegations written.

Exaclty

[redlancer]

Don't we know better, as LFC fans, to wait and see the evidence before believing the press?

[Red Chilli]

But why?

Why does more money per share mean it's a better deal? Surely a man with endless pots of cash and more financial clout than the Chelsea owner must count for a lot?

And there you have it ladies and gentlemen. The problem is, as has been said many times, is that we don't know the details of either bid/potential bid.

[Dhav]

Have they got evidence of this?

Or is it "A DIC representitive said....." because until I see evidence of this I refuse to point the finger.

Don't we know better, as LFC fans, to wait and see the evidence before believing the press?

Let's just say judging by past experiences, I am not willing to give Moores and Parry the benefit of the doubt on this one.

What is clear to me is this, the Dubai Sheikh is very focused and single-minded, we've pissed him off and he's walked away. How and why is for Parry and Moores to say.

[Pacman]

Have they got evidence of this?

Or is it "A DIC representitive said....." because until I see evidence of this I refuse to point the finger.

Don't we know better, as LFC fans, to wait and see the evidence before believing the press?

What do you need mate a picture of an Arab stood outside Upton Park with his thumb up his arse?

It's in every paper.

[marcus50bucks]

exactly.

Their silence speaks volumes to me.

Maybe they realise they have messed up and are planning aPR on the Gillette offer.

[Resu]

Can you pleace tell what it says, because it tells me nothing.

[Red Chilli]

What do you need mate a picture of an Arab stood outside Upton Park with his thumb up his arse?

It's in every paper.

JFT 96

[DeeGame]

Can the legal eagles answer this one. Is the board obliged to recommend the HIGHEST bid, or is it legal for them to say "you are the HIGHEST bid, but the other one is the BEST bid for the future of the organisation in our view, and so we will be recommending that one instead."

No you dont have to accept the highest bidder

[disco]

No you dont have to accept the highest bidder

No, but you have to be justified it not accepting it. And as I've said, if Gillets plans are virtually identical then it comes down to money.