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from google
How long does an M&A deal take?
How Long Does the M&A Process Take? The length of the M&A process can take anywhere from six months to several years, depending on the complexity of the deal.
I cant handle another 12 weeks let alone several years.............can someone put my mind at rest LOL
GLA
If it's several years we will be mining ourselves and probably be worth a lot more...
Could be tomorrow, could be next year.
The RNS from this morning was enough to put my mind at rest that the BoD are working on the best possible outcome for both the shareholders & all parties involved
I guarantee Russia does not want this dragged out !! They wish to monetize this asset asap via extraction taxation, which it has been suggested recently may rise a little . Bottom line with hydrocarbons on their knees i imagine procrastination with this project will be discouraged. Just a view and wtfdik etc
The share price will have dropped since the open because the news isn’t a big buy sign to anyone who either hasn’t read it or doesn’t know the context. Its simply labelled as Board changes.
If it takes another year to sell then so be it, I’ve got time to top up more in the mean time however I think were getting close as it is. Gla it’s going to be Herculean. You can read that in the RNS between the lines
From EUA’s BoD perspective everyone already knew where they stood with the FSP and so do UBS. There’s no chance UBS have been on board for 3 months and figures have only just started being put forward to EUA. I think ball park figures were known before UBS were appointed and its not their job to maximise the offers.
The buyers will want to know whether they’re in or out sooner rather than later as if they’re out what’s the point in dragging the FSP on any longer than necessary? Nobody benefits from that, especially the banks when they’re working on a success fee basis
Thanks guys....................patience is what i'm lacking....must try harder.
Good Luck to All
All parties will want this done as quickly as possible as it will be taking up a lot of internal and external resource, costing a lot of money and will be a massive distraction to getting on with business as usual. Not long now, maybe weeks, maybe months, can’t see it taking much longer than that for news. GLA
I'm setting my expectations much further into the future now, originally I was hoping for October, but honestly February wouldn't surprise me at all
Hedging your bets a bit here?!
"Not long now, maybe weeks, maybe months, can’t see it taking much longer than that for news."
'i expect all this done before December'
100% agree Gecko, I think the time line will very very short now anyone selling out is short of a marble or two all the right signs are in the latest RNS, the big one could arrive at any time.
Gecko, I reckon you are spot on there. Two big hitters working towards the same end. Brilliant. I’m just sat in Costa having a celebratory cup of coffee having just been into my favourite shop APPLE to get the latest watch. The first of many frivolous purchases I think. Have a good weekend.
ATB, Pete
I think the original poster on this thread was worried about it taking years. That is not going to happen. 3 to 6 months would be a reasonable amount of time to pull together what is probably a very complicated deal. It could be near the end or it could be half way through. It won’t drag on was my point. I don’t feel it has dragged on yet. GLA
well shipmates land is ahoy, the prevailing winds are good, but the most difficult bit as with all ships is getting her into the harbour . Once there the party will be astounding it will go on for weeks
All the very best to everyone onboard
Jaffy
Should be done and dusted by Christmas
There’s no set timescale, but on average they tend to take 3-6 months. It’s been 2 1/2 months already. The announcement this morning shows concluding the sale is EUA’s top priority now, although does indicate there’s still work to be done, so I doubt anything will be concluded in the next few weeks.
I’ve always thought just before Christmas myself and still believe the same.
I will reiterate my prediction made all the way back in February before we went into suspension ( thread and post deleted due to bot flies), then I said I expect the first offer would arrive in the last week of October followed by a counter offer early in December which will be accepted at Christmas time and before year end. Ian has got me down in the guess the rns dates competition, I would not sell a share though on this information as it is just a guess and an offer could land at any time, todays news makes me think I am not far away from being correct with Dmitry sat at the table to thrash out a deal with no distractions. So only six weeks to go now if I am proven to be correct hold on to your shares would be my advice.
"2. Formal sale process
Where, prior to an offeror having announced a firm intention to make an offer,
the board of the offeree company announces that it is seeking one or more
potential offerors for the offeree company by means of a formal sale process,
the Panel will normally grant a dispensation from the requirements of Rules
2.4(a) and (b) (but see Note 12 on Rule 8) and Rule 2.6(a), such that any
potential offeror which agrees with the offeree company to participate in that
process would not be required to be publicly identified under Rule 2.4(a) or (b)
and would not be subject to the 28 day deadline referred to in Rule 2.6(a), for
so long as it is participating in that process. The Panel should be consulted at
the earliest opportunity in all cases where such a dispensation is sought."
GLA
Note 12 Rule 8 -
12. Potential offerors
(a) If a potential offeror has been referred to in an announcement by the offeree
company but has not been publicly identified as such, or if it is a participant in a
formal sale process announced by the offeree company (regardless of whether
it was a participant at the time of the announcement), the potential offeror
and persons acting in concert with it must disclose any dealings in relevant
securities of the offeree company after the time of that announcement (or, if
later, after the time at which it becomes a participant in the formal sale process)
in accordance with Rule 8.1(b) or Rule 8.4 respectively.
At the same time as or before any such Dealing Disclosure, the offeror must
also make an announcement that it is considering making an offer, or that it is a
participant in the formal sale process (see also the Note on Rule 7.1 for when an
immediate announcement will be required). The announcement must include a
summary of the provisions of Rule 8 (see www.thetakeoverpanel.org.uk).
(b) If a potential offeror has not been identified as such, it will not need to
make an Opening Position Disclosure under Rule 8.1(a)(i) or (ii) until after the
announcement that first identifies it as an offeror. However, before that time,
the potential offeror and persons acting in concert with it will need to make
Opening Position Disclosures in accordance with Rule 8.3(a), if applicable. If
members of an offer consortium that has not been identified as such might
be subject to Rule 8.3(c), the Panel should be consulted. In such cases, the
consortium members will not normally be required to make a joint Opening
Position Disclosure which could identify them as such, although any member
who is interested in 1% or more of a class of relevant securities of the offeree
company will be required to make an individual Opening Position Disclosure.
(c) After the announcement that first identifies a potential offeror as such, it
will be required to make an Opening Position Disclosure in accordance with
Rule 8.1(a)(i). Such disclosure must include details in relation to the relevant
securities of the offeree company or any securities exchange offeror, even
if certain details have previously been disclosed by the potential offeror or
persons acting in concert with it in accordance with Rule 8.3.
GLA
Simply put, the company had multiple interested parties before the FSP. The FSP was started because of that, the extra time is to allow all parties enough time to form their best bid.
The FSP will not go on forever -
"Dmitry changes his routine Board roles for the role of Chief M&A Officer and together with James will strengthen the management team involved in the work streams with several interested parties."
How much longer do you think they require past the usual 28 day PUSU?. The recent change of Dmitry's position, tells me we're at the action stage imho. We'll see!
GLA