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And if he wasn't going to bid, he would be obliged to tell the market and the DEBs BoD would be wanting to move immediately to the next stage of their plan.

… but, on reflection, I reckon that MA will take this right to the line on Monday.

I think the BoD have forced him into a corner where he needs to deal with the debt and pay a reasonable price. Whilst MA loves a bargain, I think that he's not getting all his own way and he'll be negotiating hard.

I also think that it's significant that there is now radio silence... not a peep from either side and the name calling has stopped. MA hasn't pushed for the EGM either.

Still firmly believe that a bid will come before the final whistle on Monday!

Good point pseudonym - the BoD have been quite clever and have cornered MA. I'm pretty convinced that he will make a bid but I reckon that DEBs is worth more this week than last, given the support that the BoD was able to find.

It is now or never for MA - I don't think that he'll have a better chance to get DEBs at a reasonable price. The 5p offer will have to be increased but in the whole scheme of things, whether he pays 5p or 7p or 10p, the bigger issue is how he expects to deal with the debt. Looking at the retail sector, every major retailer has weaknesses and this is the opportune time to make his move! Personally, I think that he'll wait until later in the week to make his move.

What a ridiculous RNS!

If MA wants the market to take him (and his offer for DEBs) seriously then this type of game playing isn't going to help.

Close around 4p... like some others, I think we'll go above 5p next week.

I doubt that it's Sports Direct... more likely it's the shorters!

No doubt they're hard at work trying to optimise both their short and long. They've got the firepower to play about with the sp, if they choose to, until MA makes a firm offer so we could get more volatility.

If I was a trader, I'd be trying to catch the ups and the downs.

I agree Scully - no need to rush to a decision. The door is open for MA to put forward a sensible offer.

In one way, the BoD's actions have upped the sp that MA needs to pay so this is going to be fascinating.

It's now or never for Mikey boy!

If he was going to walk away, I think he would have done it by now. The statement is saying that MA is still in the game.

He's acknowledging that the goal posts have moved and that he's going to consider his options. Whilst he can be unpredictable, he's not going to give up and he's sending that message to the market and the DEBs BoD. I suspect that he now has to reconfigure his offer.

I'd be happy with your proposal NaPom.

I'm holding and not in group.

I appreciate your answers.

Back to red or black, me thinks.

that the current action by the BoD is hindering a genuine takeover bid (albeit potential)… something which the Takeover Code forbids.

I reckon the BoD's coats are on shaky nails, as they say in these parts!

Looks like it is not a done deal by any stretch of the imagination!

Clearly, they won't get shareholder consent. And if they attempt to do anything without shareholder consent, I'd expect MA taking a legal route. Now that would be interesting - might expose exactly what the BoD have been up to!

Perhaps, the odds are not so stacked up against MA after all.

Genuine question because I don't know... would the restructuring part require the consent of shareholders?

Thanks 3.14.

And if there's no concurrent restructuring deal?

I'm no expert but the BoD are soliciting consent to doing something... I can't see how that consent makes anything binding. If it did and it was to trigger shareholders being wiped out then the shares should have been suspended first thing this morning.

We also don't know yet what that something (that the Bod is soliciting consent for) actually is and what impact it would have if it was actioned. The BoD will know but we don't. For me, the silence on the potential offer is deafening and indicates that the game is still very much on.

I reckon they were obliged to update the market this morning on reaching the majority, Daniel. Or, perhaps, they were using a little bit of leverage to persuade MA to compromise or offer a better deal.

Spot on Double… the Debs board did not dismiss it out of hand and I reckon have had to engage with MA. I reckon that negotiations are still happening. As others have said, MA is not the kind of guy to walk away with his tail between his legs!