Conspiracy Theories1 Feb 2021 11:58
Good points made Flipper in particular acquisitions, but missed what should have been a serious inclusion. First to get something off my chest, I'll say to all those who pedestalised LR into some kind of god and contrary to this common belief, LR had nothing to do with the culmination and settlement of the Illumina litigation. He came along when deals had already been struck and was handed a gift of a company that had hit rock bottom and had no where to go except up. OK, feel better now. Back to the point that Flipper missed. He should have included "acquisitions amidst a Covid world". What I mean is, and to use an analogy/example:- Covid created opportunity, in that I mean companies throughout the world have been driven in there thousands to absolute financial obliteration. Many were, to an entrepreneurial eye, a golden opportunity to grab not only one but a few companies at rock bottom prices. An oil company who I won't mention, pulled off the deal of the century by buying an oil company for £200,000 that was previously valued at £20m, then went on to purchase money making enterprises for virtually nothing by comparison. So my point is, in the midst of a global pandemic why would you purchase two companies for an amount double there true value, with the "contingency" built in that prevents them making any profit for years to come. I mean you really have to be the sap of the century to take on board such an undertaking.
Look, the board of directors were looking for a replacement to Steven Little, who I might add, did a fabulous job as a geneticist not a businessman, through very difficult times. LR was hired because of his acquisition prowess, so they new what to expect and were stuck with it. Now we are paying the price.
Just an observation. DYOR GL
Sign In
Follow the stocks
