DIC have pulled out

[Pacman]

Whats annoyin me more this morning is:

"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."

Once you cross an Arab watch out mate.

There is no chance they will ever come back in for Liverpool even if that rule didn't apply - no chance.

[Eth]

thats a strange one, and depressing one at that.

Yep - I had a hope that they come back - this also makes ****e of Dunk's exclusive that DIC officials went back into Anfield last night

[Pacman]

Yep - I had a hope that they come back - this also makes ****e of Dunk's exclusive that DIC officials went back into Anfield last night

How the **** would he know

[Guest]

Whats annoyin me more this morning is:

"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."

Yes but why DIC pulled out so quickly ? Do they fear the competition and did they want exclusive access to Liverpool Football Club ?

[bazza76]

Yep - I had a hope that they come back - this also makes ****e of Dunk's exclusive that DIC officials went back into Anfield last night

what a ****ing chancer

[kopdan]

In fairness. He has a point, Moores has done an awfull job of running the club. The love of the club is there, but he is not a good business man, and just loving the club is not enough. I know he would have wanted what is best in the future. But we are a million miles away from where we should be at the moment due to lack of brainpower at the helm. When Moores took charge, we were THE biggest club in england, now we just have the biggest trophy room.

I'm not talking about the Moores reign, I'm talking about what the deal is for LFC. Everyone said Utd were doomed

Are they?

No

We simply cannot judge how good it is / how bad it is UNTIL it happens. 2 years down the line, perhaps then we can say we ****ed up / did good

[Eth]

DIC’s shock move hands all the cards to GillettFeb 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.

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.

“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.”

[Pacman]

Yes but why DIC pulled out so quickly ? Do they fear the competition and did they want exclusive access to Liverpool Football Club ?

Because we went back on our word.

It was said at the start that you can't cross the ****ers and that is exactly what Moores did the stupid Kunt Ahh well isn't Jason Lee on a free in the summer?

Looks like Rafa is shopping at poundsaver this summer.

[DeeGame]

Whats annoyin me more this morning is:

"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."

but they never made a formal offer

[bazza76]

Yes but why DIC pulled out so quickly ? Do they fear the competition and did they want exclusive access to Liverpool Football Club ?

What I cant understand is, with all DIC's wealth. How come they baulked so quickly as soon as a rival bidder turned up. obviously some people still think we are worth more money, and really, when you look at the scale of DIC's portfolio, the difference is loose change. Yet the expect the board to totally blank a rival bidder and not consider it.
I know i have no experience of running a club, but it does strike me a little as, dont cut off your nose despite your face. Toys out of the pram kinda ****.
They said they wont pay over the odds. For a club of Liverpools stature, I dont think an extra few million is over the odds. Unless, they had a gentlemans agreement that nobody else would be considered. But still, they should still realise Moores position, that the pressure that the rest of the board members could have placed him under, and that he is obliged to listen.

[Fagan]

Its not that bad look at the bitters they are moving out of the city and will end up with season tickets buy 1 get 1 free. At least there's investment still avilable, lets see what they have got to offer.

[mancdetester]

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.”
what a surprise

[Guest]

What's a post-completion covenant then ?

[Pacman]

What's a post-completion covenant then ?

Who gives a **** we are going to be owned by some meat loving Kunt who will end up ruining us

[bazza76]

I'm not talking about the Moores reign, I'm talking about what the deal is for LFC. Everyone said Utd were doomed

Are they?

No

We simply cannot judge how good it is / how bad it is UNTIL it happens. 2 years down the line, perhaps then we can say we ****ed up / did good

Im not talking about gillette either my comments were only about the current Chairman and his control of the club.
Neither was i talking to you lol.
I understand what your saying though Dan we cant say for sure what the future holds under Gillettes leadership if he is successfull. After all, for him to get a return, we need to be successfull. One thing that does concern me though, will Premership mediocrity be enough to make these people a profit given the fact that so many investors want a piece of an English football club. It certainly seems that way anyway.