The Takeover Thread - Recon Group - NOW WITH NEW POLL

[Pat McMahon]

He's close enough to the deal to know more than anyone else has found out and he puts it out on Twitter, including copies of confidential documents. I'm certainly convinced.

I'm with Dave on this. Also, based purely on my own experience, due diligence is done by the purchaser on the target (in this case, Villa) not by the seller.

[villadelph]

Not to say I believe any of this.. but it's exactly what I was afraid of. We can't hold a lead on the pitch or off it.

[Gareth]

Definitely more Twatter than Twitter!

Has incog claimed its off yet? Can't believe anything until then

Throw enough darts at a board you are likely to hit a bullseye at some point

[Ads]

If it's anything, it's a screen shot of Weil's case management system, as it has he fee earner as Tomasz Rodzoch, whose an associate. Ex-associate of Weilland solicitor in the near future one would imagine.

[Toronto Villa]

Not to say I believe any of this.. but it's exactly what I was afraid of. We can't hold a lead on the pitch or off it.

You've lost me. What are you afraid of if you don't believe any of this? Or are you afraid because you believe it?

[Clark W Griswold]

Oh fucking piss flaps. Back to the drawing board then.

[old man villa fan]

Isn't the club owned by Reform Acquisitions Limited and Reform Acquisitions LLC is Randy's ultimate holding company.  Also, Randy is a bit informal, shouldn't it be Randolph.  Lawyers are c**** (apologies if any of you are lawyers) at the best of times but they usually gets names correct.

[villadelph]

Not to say I believe any of this.. but it's exactly what I was afraid of. We can't hold a lead on the pitch or off it.

You've lost me. What are you afraid of if you don't believe any of this? Or are you afraid because you believe it?

Wasting more time is what I'm afraid of, I made that apparent a few pages back. This is the exact scenario I want to avoid.. dedicate weeks to a takeover and it falls apart.

Easy enough?

[ROBBO]

Just another idiot making trouble as far as i can see, could anyone see Randy Lerner granting exclusivity unless he was first convinced that the purchaser was very well financed, and the shown contract with Randy not Randolph on it this is a legal document and all shortened or pet names would not be allowed.
The other point i would add is that no-one who wants to remain in a job would tweet a picture with his name on it. This is pure garbage.

[Matt Collins]

Also, since when does the owner of the asset being purchased do due diligence on its purchaser?

[Richard E]

Isn't the club owned by Reform Acquisitions Limited and Reform Acquisitions LLC is Randy's ultimate holding company.  Also, Randy is a bit informal, shouldn't it be Randolph.  Lawyers are c**** (apologies if any of you are lawyers) at the best of times but they usually gets names correct.

Thanks for that sweeping generalisation!

[Mister E]

Also, since when does the owner of the asset being purchased do due diligence on its purchaser?

The only d.d. that Randy will have done would have been informal and around the issue of  "appropriate custodian" and the financial muscle of the prospective purchaser. And, he'd have done this before granting formal exclusivity to a serious buyer.
I cannot believe that a twitter feed would be the way to announce the failure of any d.d. process.

[Dante Lavelli]

I've not seen the tweets but is the person referring to the FA's 'fit and proper person' test?

[DB]

Twitter, every tweet that has ever been written is fact. People would not make stuff up would they???

[silhillvilla]

To be quite honest, if it's a consortium from Hong Kong and this is true I'm glad they failed DD or the FA test.