RE: -4 Dec 2020 22:42
MarcoOiler
I think you may have misunderstood my comment on the target co. I am not implying that they "don't care to sort something out".
What i meant was, that i understand that they are being held back because certain things have to happen as part of regulatory process by different entities. Until that regulatory process has been achieved, they themselves cannot progress their next step. Until that next step has been completed, then our BOD and the target BOD's hands are tied, and neither party can complete the transaction.
I am confident that at some point, these stages will be overcome, and this WILL reach a conclusion in our favour.
As others have said, regulatory bodies are not the easiest bodies to deal with. Even in my own company, you would not believe the hoops we have to jump through for what on the surface seem to be reasonably simple issues. The slightest query or ambiguity in a contract for example, has to pass back to the relevant department, who will then possibly ask for technical opinion, or legal counsel, before being answered. And these are relatively simple contractual transactions.
Just imagine the complexities involved when 2 companies are attempting to merge, satisfy all the regulatory bodies involved, deal with the issuance of a shares allocation, agree on the wording and legal provisions of a prospectus, and list on a publicly traded market!
I will share with you, that this year, twice my company was given contracts both from big, blue chip, public companies. I was getting me so annoyed over the repeated changes, requests for contract amendments, terms, timescale changes, provision of contract specific paperwork etc,etc, that i finally had enough, and refused the contract, and told my customers where to stick it. (told you i was not known for my tact and diplomacy skills!)
If that's the effect on me, how do you think our /the target BOD's are feeling?
Neil
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