[Archived] Rovers STILL not sold.

[Pete1981]

I asked Paul Plunkett how come the LT said the mystery bidder was looking through the books and now they are saying that nobody else can and he replied... Because there is no exclusivity .... there never has been

[niggit]

  On 16/09/2010 at 14:29, Glenn said:

millionth page is a long way off, we've only just passed 600,000 posts in over a decade.

What, even with Hughesy....

[MikeB]

If WGA have been given an extended period for d.d., it means that they must be almost whiter than white. Clearly, the Trust / Board / Roth's feel that Ali is the real deal.

I suspect that this means things are closer than we thought otherwise, why do it if there are other viable purchasers supposedly straining at the leash.

I think Ali has them in the palm of his hand.

[Steve Moss]

  On 16/09/2010 at 14:04, den said:

Like I said - and it's only a guess - Syed has probably paid the £25000 that gives him exclusivity. Technically the second group are in due dilligence, but that doesn't give them access to the books.

The only other alternative, is that the second group are not in due diligence.

Or that WGA or Ali Syed has misstated or misunderstood the whole tiered DD concept. Didn't Shah do the same at one point? Until the Trust speaks, we can't be sure as to who is doing what, when and how.

  On 16/09/2010 at 14:32, Glenn said:

Other than a direct quote from his camp yesterday saying he wasn't.

Wasn't that quote from Mukesh's camp, not Anil's? The Ambani brothers are not a united front.

[67splitscreen]

  On 16/09/2010 at 14:32, Pete1981 said:

I asked Paul Plunkett how come the LT said the mystery bidder was looking through the books and now they are saying that nobody else can and he replied... Because there is no exclusivity .... there never has been

Various media releases said he had exclusivity, Syed himself told the BBC amongst others.

Someone is being economical with the truth, or it was "the truth at the time"

  On 16/09/2010 at 14:56, smoss said:

Wasn't that quote from Mukesh's camp, not Anil's? The Ambani brothers are not a united front.

Certainly not Rovers.

[little_joe50]

I don't buy this statement at all, there is no way that it should take more than 4 weeks to do DD on a company the size of BRFC that has one main revenue stream and one main expense.

To me this seems like a smokescreen for something else going on behind the scenes.

[Hughesy]

  On 16/09/2010 at 13:47, Kamy100 said:

Finally the mystery bidder has seems to have caused concern in the WGA camp hence extended the exclusivity.

Dont get it - how can the have exclusivity if another group also has entered due diligence, or is that now incorrect?! Im lost!

[Balwer]

  On 16/09/2010 at 15:20, Hughesy said:

Dont get it - how can the have exclusivity if another group also has entered due diligence, or is that now incorrect?! Im lost!

Exclusivity means that nobody can buy it except Syed, it's like a right of first refusal.

[Pete1981]

  On 16/09/2010 at 15:21, Balwer said:

Exclusivity means that nobody can buy it except Syed, it's like a right of first refusal.

But Paul Plunkett says Ali Syed dosent have Exclusivity

[Hughesy]

  On 16/09/2010 at 15:21, Balwer said:

Exclusivity means that nobody can buy it except Syed, it's like a right of first refusal.

Yes but also they claim nobody can look at the books....

"This enables WGA to continue to explore the financial situation of the club while ensuring that no other bidder can buy it or look into its books"

[Wolverine]

It's quite simple:

We don't know.

[den]

Plunkett to Rebelsmwar:

it's very complicated on exclusivity. there's several different layers, some with exclusivity and some not.

[MikeB]

If ever there was a case of Chinese whispers !!!!!!!!!!!!!!!!!

[rebelmswar]

  On 16/09/2010 at 15:20, Hughesy said:

Dont get it - how can the have exclusivity if another group also has entered due diligence, or is that now incorrect?! Im lost!

I have given up and decided to play pickup sticks with my ass cheeks, much easier to do and more rewarding.

[duffbear]

I am guessing this is probably a question for Philip or maybe Kammy would WGA have paid an additional fee to extend the exclusivity?

[Balwer]

  On 16/09/2010 at 15:35, duffbear said:

I am guessing this is probably a question for Philip or maybe Kammy would WGA have paid an additional fee to extend the exclusivity?

I think the Trust would be terrible businessmen and women if they didn't charge some sort of fee for it. They're not doing it out of kindness that's for sure.

[nicko]

WGA [bahrian/Switzerland or London] did have an exclusivity period of four weeks. That is over.

Now WGA [London] say they have a new exclusivity period.

Too strange - even by Rovers takeover standards.

[Guest Kamy100]

Paul Plunkett has it 100% correct, there are different levels of DD/Exclusivity, it is complicated, but basically If WGA statement is true then it does not mean that other bidders can't enter into DD, just means they can't reach to the level of DD/Exclusivity that WGA have reached. I hope that this makes some semblance of sense.

Hopefully the club will release a statement to clarify the situation.

[CrazyIvan]

  On 16/09/2010 at 15:49, Kamy100 said:

Paul Plunkett has it 100% correct, there are different levels of DD/Exclusivity, it is complicated, but basically If WGA statement is true then it does not mean that other bidders can't enter into DD, just means they can't reach to the level of DD/Exclusivity that WGA have reached. I hope that this makes some semblance of sense.

Hopefully the club will release a statement to clarify the situation.

Is this entire DD/Exclusivity thing like getting Judo belts?

[Balwer]

  On 16/09/2010 at 15:49, Kamy100 said:

Hopefully the club will release a statement to clarify the situation.

These three lines are the sum total of the club's official correspondence to date on the subject:

http://www.rovers.co.uk/page/NewsDetail/0,,10303~2124938,00.html

[T4E]

  On 16/09/2010 at 13:41, Sparky Marky said:

[rebelmswar]

  On 16/09/2010 at 15:54, CrazyIvan said:

Is this entire DD/Exclusivity thing like getting Judo belts?

At the moment it seems more like a bunch of males playing spin the bottle, in the dark, wearing hoods, all claiming they are not gay.

[67splitscreen]

If WGA press release is 100% factual and posters practical knowledge on here are accurate as to the time scale for due diligence on a company the size of our club, the only reason I can think of is that as some have alluded to we are unique in business terms of being owned by a trust

I doubt many legal/financial teams have come across this before, the terms of Jacks trust deed may well be causing a lot of head scratching.

We only have the word of a poster some time ago on here (rovercider) that there was nothing in the deed that is detrimental to a sale and a brief statement from JW some time ago, I believe.

[rebelmswar]

  On 16/09/2010 at 15:58, T4E said:

T4E you should always remember that everyone has the right to be stupid, some however, abuse the privilege.

[Guest bluerovers]

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