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Why have pointless conversations, when they clearly can't comprehend what is written in RNS?
Some funny types appearing on here at the minute, i wonder why lol
GLA
No one has mentioned a price lol. I have however provided the tools for anyone to make their own valuation with known industry methods. I can't be any fairer than that.
GLA
Pubs shut at 10pm where i am now, so it's fairly pointless going for a pint or two. Leaves my free to fettle the green box types all weekend lol
GLA
People do know what's going on, it's in RNS. NDA's were singed by parties wanting to acquire MT, it's in RNS -
"All existing non-disclosure agreements interested parties have already signed with the Company in relation to the potential acquisition of the Monchetundra asset remain valid."
No w Dmitry is concentrating on our side of that acquisition -
"The Directors have agreed to release Dmitry Suschov from the Board in order to allow him to focus as the Company's Chief M&A Officer on the M&A work streams with Eurasia's professional advisers."
But wait, james is to also focus on the sale -
"Christian Schaffalitzky, Eurasia's Executive Chairman commented: "This reorganization is designed to optimise our execution team. We are delighted that James has agreed to take on the CEO role. James's focus will be to work with our advisers on the sale process. "
The sale of what, Mochetundra and West kytlim, like he states -
James Nieuwenhuys, Eurasia's CEO and Executive Director: "In my new capacity as CEO and Executive Director I will continue to work with our advisers on the sale process of the Company and its world class assets, Monchetundra and West Kytlim, leveraging my relationships made over more than 40 years in the mining industry and securing a deal beneficial to our shareholders".
All in RNS, and all very easy to read.
GLA
Got a squid arguing with a lobster, all at sea
Have fun in the green bin calamari, very very lame. In a acquisition, guess what, there are two sides, one selling and one buying. Can you guess which side Dmitry is concentrating on?. Perhaps another board member who can see your reply can give you a badge if you answer correctly lol
GLA
Calamari......who said anything about " charge whatever you like" .......you pay the 'going rate' or negotiate.
It really isn't rocket science calamari -
"All existing non-disclosure agreements interested parties have already signed with the Company in relation to the potential acquisition of the Monchetundra asset remain valid."
https://www.lse.co.uk/rns/EUA/statement-re-formal-sale-process-jtwyvaxxdax49q0.html
GLA
Did you even read the takeover code lol
"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
Aquire metal tiger and merge into a larger conglomerate with Chinese, South African and Russian and British owners?
No calamari, a fsp is started when there are multiple interested parties. If there is one, or it gets down to one, it's a m&a lol. You really need to brush up on these things.
GLA
One of the parties might land us with a monster offer to squash all others and get this thing done ASAP. Then paaarrrttyyy!
Here calamari, just for you - acquisition : an asset or object bought or obtained
GLA
Yep, it's just a general title.
No it really isn't calamari, what do you thing the acquisition part pertains to? lol
GLA
Why take my word for it though:
"James Nieuwenhuys, Eurasia's CEO and Executive Director: "In my new capacity as CEO and Executive Director I will continue to work with our advisers on the SALE process of the Company"
Reason Not Sloth Make A Naysayer
"In the context of EUA doing M&A, the "A" would mean Eurasia buying another company, not the other way round."
Tell that to all the M&A companies that advertise themselves as the experts to sell your company lol
He’s not the best guy to dot the I’s cross the t’s and extract max value?
.....or, 2 companies could be merging to acquire eua???
calamari Absolute bunkum, Acquisition = One company purchases the other outright ie. sale of the company
People can read it as many times as they need -
"focus as the Company's Chief M&A Officer on the M&A work streams" - there can only be M&A work streams if a M&A is happening.
It's all there for anyone to read in RNS.
GLA
The thing to concentrate on is this Frank -
"The Directors have agreed to release Dmitry Suschov from the Board in order to allow him to focus as the Company's Chief M&A Officer on the M&A work streams with Eurasia's professional advisers."
"Mr Suschov has a successful track record of leading the strategic sales of companies in the natural resource sector including the sale of a silica sand mine and the second largest global carborundum production company to Indian Murugappa Group, the sale of a natural resource company to Danish natural resource fund, the sale of a gas company to a major Russian investment group and other deals."
There is only one reason why he has to concentrate on M&A at this stage, there is NO other reason.
GLA
Understood. If it’s one thing I’ve learnt so far in investing it’s, if I don’t physically see it happening, it’s not happening lol not matter how many people say it’s going to ;)
Thanks.
Raharh also provided a real life example that suggested a 12 week period -
"mac - i agree in part with you. Having been involved in a four way sale of a company (to private equity - not public listed) that sold for just over £1bn we had a formal 12 week process that was run by the M&A bank. The fireside chats were happening long before that (3 months or so) lining up PE houses, so they came warm to the table.
The process basically ran as a two week entry process (we had 9 involved) with NDAs and access to data room before initial offers were put in. Anyone below 900m were rejected and we went down to 5. Then we had full day presentations from the BoD to the PE houses that were scheduled in the same week (5 days of my life I will never get back) - one dropped out and did not attend.
From week 5 onwards it was DD and loads of questions.
Closing offers were due by week 10, however one of the PE houses broke rank in week 8 and put a number on the table that the BoD and the current PE house were happy with and the process was abruptly ended much to the dismay of some of the other bidders - but the new PE house got in there with an offer that was above the target sale and sufficient enough to do the deal.
I have a twelve week window in my mind from 1st July but now we are in week 6 onwards, for me we are in the heat of the battle now if there are multiple bidders.
All I am saying is that if someone really wants it and does not want the bidding war an offer could land that sets them apart and basically shuts the process down - which is why it could happen at any time."
If it lands as per his provided timeline, he will be known as Raharh the great lol - "closing offers were due by week 10"
GLA
Not 100% though Frank, some have been known to take longer. But the buyers came into the FSP warm, they had signed NDA's for monchetundra before the FSP was started.
I believe someone tweeted shortly after the FSP started, that the average time was eighty odd days, from memory.
GLA