DIC have pulled out

[cadmium]

Now Gillett's PR machine must do it's work to convince the fans that this deal is the real deal.

[Guest]

What I'd like to know is why Parry and Moores were saying that the deal was best for the club, and would secure our future, and then Gillette comes back in with a bigger offer and suddenly the DIC deal is in doubt and then it falls through.

If the DIC deal was best for the club then why didn't the board say no to Gillette as they had already made an agreement with DIC. For me the £ signs flashed up in Moores eyes and he's put any potential deal at risk.

I just hope the GIllette offer goes through, but I'll believe it when I see it!

Moores doesn't own 100% of LFC's shares, so he has to consider what the 49% other shareholders have to say before making a decision. He can surely sell his 51% stake but the new majority holders wouldn't be able to enforce anything if they don't have the full share ownerships. I'm no financial expert so I can't really comment on that anyway.

[desertscouser]

The more that gets leaked out, the more it becomes clear.

Moores, Parry and board have ****ed up. Big time.

They are a pair of embarrassing bumbling f*ck wits. They deserve all the flak coming to them.

[desertscouser]

Well I for one am happy that DIC didn't get it's dirty little Sharia hands on Liverpool.

I don't want a corrupt Government having any control over my club thank you very much.

'Dirty little sharia hands'? What's that supposed to mean you racist prick.

[Guest]

What's a post-completion covenant ?

DIC’s shock move hands all the cards to Gillett

Feb 1 2007

by Bill Gleeson, Liverpool Daily Post


YESTERDAY’S announcement by Dubai International Capital that it is withdrawing its offer to buy Liverpool Football Club leaves all the cards in the hands of rival bidder George Gillett.
(Surely we wouldn't have wanted that !)
Takeover Panel rules mean that the Middle East group can’t come back into the bidding for six months, making the contest currently a one-horse race.

DIC blamed their decision to withdraw on the club’s board, which didn’t seem keen to recommend the £450m offer. That would suggest that Mr Gillett has firmed up a higher offer that should complete shortly.

“You have to remember the bird in the hand principle,” said James Dow, a corporate finance expert who runs his own corporate finance advisory firm, Dow Schofield Watts, in Warrington. Mr Dow has advised a range of football clubs including Ajax, Celtic, Barcelona and Everton.

“I hope the board are confident. They had an offer that they were previously prepared to put to shareholders which met all the financial needs of the club and provided an exit for the current shareholder. Now they have dropped it, I can only assume their alternative plan is a good one.


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“This strengthens the hand of Gillett in his dealings with Liverpool.

“If a bidder says they are withdrawing, they have to stay out for six months. It clears the way for Gillett. So the board would have to be confident that Gillett’s offer was significantly better all round for the club. The board are entitled to look at all the terms, not just the immediate return to shareholders.”

Mr Gillett has given Liverpool’s board undertakings that once in control he will not scrap the plan for a new stadium at Stanley Park in favour of sharing a ground with Everton, and that he will provide a kitty to finance transfers in the future.

However, Mr Dow warned that such undertakings were not binding in practice.

He said: “It would be extremely unlikely they could enforce a post- completion covenant. It relies on the goodwill of the parties.”

[kopdan]

They are a pair of embarrassing bumbling f*ck wits. They deserve all the flak coming to them.

easy easy

might be worth waiting before saying things. This deal may be better and work out. You'd look a bit of a tool then

[ElRobbie]

What you tarts on about, why do you both assume it is the faults of Moores and Parry?

Well, you tart, they are the Chairman and Chief Executive of the club, they may not be completely to blame, it seems its more to do with greedy board members, but surely this deal would have been discussed for ages with the board and they should have sold the merits of this deal to them in terms of the long term future of the club.

By the time they made the offer the board should surely have already been in verbal agreement.

Regardless of another bidder coming in.

[desertscouser]

easy easy

might be worth waiting before saying things. This deal may be better and work out. You'd look a bit of a tool then

Doubt it Dan.

When it comes to investment I have ZERO faith in Moores and Parry. I will stand by everything I've said about them.

Can't wait till their bollocks explanation of events. After all, Parry was singing DIC's praises only a few weeks ago...

[Red Wino]

'Dirty little sharia hands'? What's that supposed to mean you racist prick.

Racist?
FFS try to google this "amnesty human rights saudia arabia" and see what you come up with....

[desertscouser]

Well, you tart, they are the Chairman and Chief Executive of the club, they may not be completely to blame, it seems its more to do with greedy board members, but surely this deal would have been discussed for ages with the board and they should have sold the merits of this deal to them in terms of the long term future of the club.

By the time they made the offer the board should surely have already been in verbal agreement.

Regardless of another bidder coming in.

That's the thing, why the late change of heart? Because a failed sports team owner from the US flashes a few extra dollars?

Was Moores too weak to sell his preference to the board?

This is an utter shambles.

[ElRobbie]

Official statement from the club, yyyaaawwwnnn.....

LFC OFFICIAL STATEMENT
Paul Eaton 31 January 2007
Liverpool Football Club has noted today's announcement by Dubai International Capital.
The process of seeking new owners for the club is still underway and a decision on the future will be taken in the next few days.

[Jack D Rips]

One possible scenario about this thing. Could it be possible that Moores was forced into that decision (to consider Gillett's bid) ? He's got 51% of LFC's shares and for a full takeover to happen, the other shareholders must be willing to sell their shares for it to happen isn't it ?

The fact that Gillett offering 500 pounds more to these shareholders has tilted the balance in my opinion ... Moores would be powerless to stop that. Could it be something instigated by Steve Morgan ??? That also could still be plausible.

I have to say that as soon as I heard of the withdrawal I got the smell of Morgan from it. He is one **** who would do anything to embarrass Moores & parry.

[desertscouser]

Racist?
FFS try to google this "amnesty human rights saudia arabia" and see what you come up with....

Saying 'his dirty little sharia hands' isn't a racist comment to make? :whatever:

[Guest]

Doubt it Dan.

When it comes to investment I have ZERO faith in Moores and Parry. I will stand by everything I've said about them.

Can't wait till their bollocks explanation of events. After all, Parry was singing DIC's praises only a few weeks ago...

Mates, the family silvers can be sold once ! So, it's stupid really blowing the gun like you did because at the end of the day, Moores and Parry are trying to do the best deal for the club and it may not come off but it's not for the lack of trying !

If they saw something wrong with the DIC bid then they are entitled to refuse their offer.

DIC know the rules of the game, so they could have waited for LFC to review the Gillett bid before pulling the plug on theirs ... You'd have to ask why ! Competition is healthy and DIC were having no bidder as rivals UNTIL Gilletts improved bid. Let's see what comes of it now.

[FatTony]

DIC are now considering a bid for Newcastle Utd.