Looks like we have a new owner

[Lucky]

Funny how Parry's been saying all these years that you only sell the family silver once and we've got to be sure we have the right buyer and now we're APPARENTLY selling to a couple of cowboys that hatched their plan at an NHL game last week and completed due diligence in 3 days......
..... yeah right!

[kopdan]

Funny how Parry's been saying all these years that you only sell the family silver once and we've got to be sure we have the right buyer and now we're APPARENTLY selling to a couple of cowboys that hatched their plan at an NHL game last week and completed due diligence in 3 days......
..... yeah right!

flmao

Cowboys? Why? Because they are from USA?

Whats wrong with completing due dilligence in 3 days? How long should it take? who governs how long it takes?

Gillette came back with an improved offer but I doubt Hicks involvement really changes the deal that much thats its a completely new bid.

You owe me £10

[Lucky]

Hold your horses there partner! We heven't been takenover so the £10 isn't yours yet!
They're cowboys because Hick is from texas and mates with bush who's the worlds biggest cowboy. And yes i am worried about due dilligence being completed in 3 days because if i were investing $1 billion dollars in something i'd want to know what i was buying.

[kopdan]

hehe

but seriously though, 3 days may be enough to complete due dilligence

I dont know mind.

[lfc4ever]

They're cowboys because Hick is from texas and mates with bush who's the worlds biggest cowboy.

Excellent, I think I will run a compo on that.

"Be The First To Come Up With A Yankee Name":

The Liverpool Cowboys - pretty lame, but ok for starters----------->

[tomasjj]

Wasn't Gillett allowed a peek in our books at an earlier stage?

[Lucky]

Excellent, I think I will run a compo on that.

"Be The First To Come Up With A Yankee Name":

The Liverpool Cowboys - pretty lame, but ok for starters----------->

The Mighty red(necks)

[Lucky]

Wasn't Gillett allowed a peek in our books at an earlier stage?

No, we had an exclusivity agreement with DIC till a few days ago.

[Dhav]

hehe

but seriously though, 3 days may be enough to complete due dilligence

I dont know mind.

Rest assured, 3 days is nowhere near enough time for the due diligence process.

Completing it in 3 days would seem to back up Lucky's claims that we are indeed dealing with cowboys,

[kopdan]

what exactly is due dilligence?

Why is 3 days considered bad?

[kurtangle01]

what exactly is due dilligence?

Why is 3 days considered bad?

Due dilligence is an inspection of the company you're buying accounts. It was completed by a financial company on behalf of Gillett so it's possible that it could be done in 3 days. It's no bad thing that it was completed so quickly, just some people want to pick at anything they can.

[Dhav]

what exactly is due dilligence?

Why is 3 days considered bad?

It's examining all the assets to determine their value. In the case of purchasing a going concern it would predominantly involve examining the accounts of the business.

We've just been through it at work on a £200m portfolio sale, and it took us around two months. We had lawyers representing the purchasers working from our offices going through mounds of our documents.
As you can imagine, if they see something that needs explaining they raise requisitions and we reply, so obviously if you do it thoroughly it is a very costly and time consuming process.

[Dhav]

Due dilligence is an inspection of the company you're buying accounts. It was completed by a financial company on behalf of Gillett so it's possible that it could be done in 3 days. It's no bad thing that it was completed so quickly, just some people want to pick at anything they can.

Yes it is possible to do in 3 days - if you do a shoddy job

[kopdan]

What if Gillette HAS seen the books before this week?

Why is it bad IF he rushed due dilligence?

[Red_Al_77]

The point is irrelevant. They have completed their due dilly and are happy as were DIC after their few months.