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DIC pull out of Liverpool takeover

  • 31-01-2007 5:32pm
    #1
    susanna
    Closed Accounts Posts: 229 ✭✭


    Gutted :mad:

    This is the article from the BBC
    http://news.bbc.co.uk/sport2/hi/football/teams/l/liverpool/6318091.stm

    Dubai International Capital has pulled out of proposed takeover of Liverpool.
    The announcement follows the failure of the club's board to formally accept DIC's bid in the wake of a second offer from American George Gillett.

    DIC claimed the offer had been accepted in principle by majority shareholder David Moores but they were unable to make a formal offer to shareholders.

    DIC chief executive Sameer Al Ansari said the group was disappointed but added: "We won't overpay for assets."

    The BBC's sports editor Mihir Bose believes Sheikh Mohammed was angry with Liverpool's courting with American tycoon George Gillett who is expected to make a revised takeover bid.

    Bose said: "Mohammed is a very angry man and that is why he has pulled out. He was given assurances by Liverpool that they would go with them but the talk of other offers has unsettled him and he has pulled out."


Comments

  • #2
    mike65
    Closed Accounts Posts: 88,972 ✭✭✭✭mike65


    Hi we're over here

    Mike.


  • #3
    susanna
    Closed Accounts Posts: 229 ✭✭susanna


    Ok thanks. Thought there would be a new thread seeing as its neither a signing or a rumour!


  • #4
    LizardKing
    Registered Users, Registered Users 2 Posts: 1,599 ✭✭✭LizardKing


    The board did not accept DIC's offer as they got a better offer from Gillett.

    I don't think its bad DIC halted negotiations. They are playing hard ball after Liverpool started talking to other parties again, it may still turn out ok , that is if the deal goes ahead with Gillet or another party.


  • #5
    redspider
    Registered Users, Registered Users 2 Posts: 2,544 ✭✭✭redspider


    That's not good news overall, as I would have preferred DIC who have very very deep pockets. It sound like Moores has indicated he will accept the Gillet deal which was 10% higher in terms of buyout, but how much money is being put into the future investment and the stadium and player investment is unknown, and cant be cast in stone.

    DIC, from their statements, sound dissapointed, which is unusal in business circles, and probably feel put out by the wheeling and dealing approach. I would be surprised if they came back in for a bid. They would only come back in if Gillet withdrew his offer.
    susanna wrote:
    Thought there would be a new thread seeing as its neither a signing or a rumour!

    The Liverpool thread can be used for all things Liverpool, maybe its title should be changed. There are a lot of facts discussed there as well, so not only rumours, and not only signings. But no harm starting a new thread.

    Redspider


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