DIC latest - the largely wild speculation thread

[DeanoUK]

It's from the forums (after some digging).
And it links to a US newspaper site that doesn't actually contain the said statement.

It also contains spelling mistakes etc.

It's bull****.

[MattB]

Tom Hicks releases a statement.

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"It is true that I have rejected George's offer to sell all of his stake in Kop Football Ltd and his holdings to the DIC. As previously stated we have an agreement that we could have first refusal on each others shares. George has stated his desire to relinquish his ownership of Liverpool Football Club and I have rejected his offer to sell to the DIC.

I am 100% committed to this soccer club for now and for the long term future. I will not be selling to anyone including the DIC or any other interested party.

As far as I am concerned they club will be in my families hands for many years to come and that is the closure of this matter for now"

just seen this post on LFC.TV what a tit

This response on RAWK...

It's from the forums (after some digging).
And it links to a US newspaper site that doesn't actually contain the said statement.

It also contains spelling mistakes etc.

It's bull****.

[donpisci]

Nothing on the offal. Thankfully!

[murder_inc]

nothing on the offal. statement is bollocks (hopefully)

[Reece]

'No formal rejection from Hicks' March 04 2008

Liverpool co-owner Tom Hicks has not formally rejected Dubai International Capital's reported offer for the Premier League club but remains unwilling to sell his stake, a source close to the American has told PA Sport.

It is understood that DIC made an offer for fellow owner George Gillett's 50% share in the club earlier today, which was extended to Hicks.

But associates of Hicks have reiterated the stance made public at the end of last month when he vehemently denied that his stake was up for sale.

Despite reports that DIC are willing to pay £400million for the Merseysiders, handing Hicks and Gillett a profit of £25million each, and take on all of the club's debt, Hicks' position appears as entrenched as ever.

He remains unwilling to deal with any parties who would ask him to accept anything other than majority shareholder status, and retains the ability to veto any sale of Gillett's stake.

Although no formal statement is expected from the American, his stance remains the same as last month, when he said: "Reports that I am about to sell my stake in the Liverpool Football Club, or to invite DIC to examine the club's books in preparation for such a sale - like other such reports planted in the UK press in recent weeks by parties with their own self-interested agenda - are absolutely and categorically false.

"The reality is that I am personally, professionally and financially committed to the club and its supporters and that I will continue to honour that commitment to the best of my ability now and in the future."

[kris90210]

Tom Hicks releases a statement.

--------------------------------------------------------------------------------

"It is true that I have rejected George's offer to sell all of his stake in Kop Football Ltd and his holdings to the DIC. As previously stated we have an agreement that we could have first refusal on each others shares. George has stated his desire to relinquish his ownership of Liverpool Football Club and I have rejected his offer to sell to the DIC.

I am 100% committed to this soccer club for now and for the long term future. I will not be selling to anyone including the DIC or any other interested party.

As far as I am concerned they club will be in my families hands for many years to come and that is the closure of this matter for now"

just seen this post on LFC.TV what a tit

If thats true then at least it shows that Gillette wants to sell to DIC and is not prepared to wait for Hicks to raise the money. Its been reported that first refusal rights are valid for 90 days? In that case, Im guessing that Hicks has 90 days to find the money to buy out Gillette?

[DeanoUK]

This response on RAWK...

It's from the forums (after some digging).
And it links to a US newspaper site that doesn't actually contain the said statement.

It also contains spelling mistakes etc.

It's bull****.

Heh yeh that was me, duplicated it before people lost all hope.

Not looking good though.

[The Erectile Banana]

Have you ever had that sinking feeling?

[Manofthebog]

If thats true then at least it shows that Gillette wants to sell to DIC and is not prepared to wait for Hicks to raise the money. Its been reported that first refusal rights are valid for 90 days? In that case, Im guessing that Hicks has 90 days to find the money to buy out Gillette?

T'was a wind up, apparently.

ignore

[The Birdman]

This is the bit which has me confused the most - How can Hicks block Gillette from selling his share?? if Gillett owns his shares then surely they by definition are his to sell to whoever he see's fit. I understand the 1st option bit so surely this means that DIC have offered £200 mill for 50%. Hicks has to match that or Gillette can sell. He can't be able to say I can't afford your 50% but I don't want you selling to anyone else either???

[The Erectile Banana]

This is the bit which has me confused the most - How can Hicks block Gillette from selling his share?? if Gillett owns his shares then surely they by definition are his to sell to whoever he see's fit. I understand the 1st option bit so surely this means that DIC have offered £200 mill for 50%. Hicks has to match that or Gillette can sell. He can't be able to say I can't afford your 50% but I don't want you selling to anyone else either???

That's a good point.

Although you could interpret it as Gillett having to offer his shares to Hicks if he wants out before he is even allowed consider any bids from third parties.

[The Birdman]

That's a good point.

Although you could interpret it as Gillett having to offer his shares to Hicks if he wants out before he is even allowed consider any bids from third parties.

Which is fair enough. I would then presume that the shares are at a pre arranged price or Hicks has to better or match a rival bid. The second option should be the more profitable as how would they have chosen the 'fixed share price' fairly at the time of the takeover and the shares won't be available for what they paid for them as neither one would make a profit when they sold.

[JohnDoe]

The more DIC offer for the club, the more difficult it will be for Hicks to buy GG out, which means that at some point, Hicks will surely have to give up. The problem is, I don't think DIC are willing to go anywhere near £500m, which is where I think Hicks' breaking point lies.

[kopdan]

Hicks is staying in my opinion.

Its not all bad as far as I can see

[Jayesh87]

So has the bid been rejected or not?

I'm bloody confused, like normal