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Go for it Guitarman.....he who dares.
BUT YOU MIGHT GET FOMO
Nightmare indeed. One last thing, I have worked very closely with DLA for years on a day-to-day basis. They are on point and very good. We really do have an amazing firm behind us, and that gives me a lot of comfort.
If I wanted to release a sale RNS I would want to do it on a Friday. No one expects a friday.
The Mechanics..... Some cars are easier serviced than others... But a good man gets the job done... Dla Piper, are the best there is, when it comes to M&A.
They will have been involved for longer. The RNS was not to tell us that they were suddenly involved, it was just woven into the interims. The RNS before was board changes (so probably not appropriate to drop it in there). End of the month a week on Friday, 4 weeks from the interims. Everyone loves a deadline. GLA
Jim Bob,
Agreed. One lawyer, fine. Two lawyers, nightmare...
Is there any chance a sale decision might be delayed until after the US election?........ just a thought (and all the posturing, bluff and nonsense regarding R.E.M. and similar key material resources). Greenland for sale, anyone?
Lets not forget the difference between us being told a price and the deal being done, we are closer to the first one no doubt.
Could be days, but from one transaction I worked on that was significantly smaller than this it took 4 months just to get sale agreement approved by both parties in principle before anything could be released. At times the lawyers were taking days fighting over sentences in a 100 plus page document. I really hope we can move a lot quicker, a lot depends on the type of deal and how motivated the parties are - complete company sale vs asset sale. Would be great to have this all buttoned down before the end of October.
Prof1, I've been here nearly 3 months and when I first invested people were saying it could happen "any time now", your guess is as good as any but I wouldn't be surprised if it dragged on much longer
Thanks Professor1.
I would have thought that Eurasia's own lawyers would have completed the ground work for DLA Piper to go over it in finer detail. I too have early November in mind. Assuming DLA Piper were onboarded say a week before the last RNS, gives them a good 6-8 weeks.
Points 4-5... Sorry
Did you read my post on this yesterday?
We are between point and 5 on the list, and certainly a lot closer to completion.
It is for sure there is a time frame being adhered to. So an announcement is eminent, as little as days away, rather than weeks or months, as Piper have already been there quite some time.
Hi KNK12
Thanks. I think this will be a complex transaction and might take us into early next month. You usually get different drafts of legal documents to review each time a small change is made and end up with something like 5 to 8 drafts before the legals are finalised- areas such corporate tax and finance have a lot of input and a lot of the time the legal team on the seller side may not like the wording from the buyer legal team and so gets thrashed out several times. From my experience.
Patience is the key.
GLA
Four months to complete or four months til the announcement of an offer?
I have some experience in this area. Lawyers are only ever appointed once there is a deal in principle, once appointed it can take a while to get all the formalities agreed. I have seen up to four months from appointment. It's surprising how long it takes to thrash out contract terms and for the buyer to put together a full proposal. During this process other issues can arise and there is an element of discovery during the process also. DLA would only ever charge on admin time spent basis. I am sure all parties have a road map detailing milestone goals in this process. It sure would be nice to know where we are....
I concur..pompey
@Professor1. That is the logical answer to the timing of DLA Piper appointent, the key question now is, how long do they need to complete???
Unlike UBS who are on a no win no fee basis, DLA are going to charge fees to EUA based, I guess, on the time spent each day by their whole team on a deal from the date of their engagement as opposed to a fixed sum fee.
If this is the case then it makes sense for EUA to only appoint them once a deal " in principle" has been agreed by the parties?