oh please. FTI and KPMG are nobody in the world of restructuring and certainty are not “dodgy”. Trust me, they’re not behind any master plan.
All, rule 2.9 is required even with regards to a potential offer. Therefore, this is almost certainly just Debenhams' required disclosure with regards to SPD's prior announcements. They were just late doing it. Usually, a company discloses it when it confirms a potential offer is on the cards (e.g. https://www.sharesmagazine.co.uk/news/market/6362671/Statement-re-Possible-Offer)
Anyone disagree?
You guys keep talking about him losing his £130m. People do not always throw good money after bad. It’s like the gambler’s fallacy. Anyway, I have meetings all day. Good luck everyone. Daniel over and out
Retour is on the money. That is entirely possible. Yes the board can act before April 22 and no Ashley has basically no legal grounds to go to the high court. He may try, but he will surely fail unless he puts out a formal offer and a plan for the debt
I read it. I reaffirm my post. That announcement said nothing other than “we’re not terminating our possible offer just because they got consents”
What do you mean “going legal”? He doesn’t have legal rights with regards to the consent process.
And in terms of price, DEB is now less attractive to him, why would he pay more exactly? I’m a little confused?
I don’t see him offering higher as it’s not the price that matters. It’s his plan for everything else (ie the debt)
Well obviously HSBC sold out to one of the funds. Probably better if you’re a big bank to just rid yourself of this nonsense and leave the wolves to eat each other up
"that's why I don't trade on feelings" (Scully, 5 minutes ago)
"man after my own heart, glass half full. Refreshing change" (Scully, 2 minutes ago)
Just yanking your chain, good luck ;)
Was that sarcasm...I am not an employee of SPD or DEB. Just stating a fact.
Disregard it. Doesn't prohibit the board from doing anything, the deadline is only for MA
He can also easily pay £100m for the sub-par coffee shop near my work. He has the cash. It has been badly run...it's easily manageable for Ashley.
I'm not a takeover expert either, but I'd imagine that he has until April to make a bid. However, that doesn't stop the board doing anything in the meantime, and if the company no longer exists by then, he won't have anything for which to bid.
Rule 2.6 is there only at the option of the potential acquiror. The board doesn't have to do anything or take it into account (with regards to their restructuring process, I mean). If he subsequently says he's not going to make an offer, he has to wait 6 months to make an offer again.
£10 says the NewCo is called "Debenhams Holdings Ltd"
My position is that I don't think he'll make a formal bid. Of course, I could be wrong, I can't predict the future. But he'd be being charitable to existing shareholders which, unless this is a PR exercise, he's not in the business of doing. Maybe he thinks it'll make the news and people will actually come to Debs? I don't know.
Good luck to you as well! This is providing me with entertainment throughout the day so I really don't mind which way it goes!
Actually I now am posting for altruistic reasons. I'm not touching my position and nothing anybody does on here is going to affect the outcome, so what other motivation do I have now? Look, maybe MA would be a good CEO for the company, I don't know. But he doesn't need to buy it at 5p to make that happen necessarily. I'm just outlining what is and isn't possible. Usually, if someone can pay less for something, they do. I'm not saying what will and will not happen.
With regards to MA specifically, I don't buy his "Harrods of the High Street" thing at all but that's my opinion.
I agree that everything is speculative. If you make an assumption that everyone acts as rational economic agents you can make some inferences. But that is an assumption that rarely holds true!
Ha, no worries. It's a little binary at the moment, but the one thing that's getting me is why MA didn't just come out and bid? Why bother with the "potential". I can only assume because he didn't have a plan for the debt and obviously wanted all these conditions. He basically wants to own the company and start the negotiations again with the creditors. The creditors probably don't want that. So where does that leave MA? Make your mind up, folks.
With the rents in London, I wish!!!!!!
Thanks. I really don't mind which way this goes, this is pure entertainment.
Hope i've been informative for some. From the outside, it's very difficult to navigate distressed situations and the way the deals get done behind the scenes is never public. I can tell you that people spend all-day every-day for months negotiating and it's very painful