The official "Takeover Completed" thread

[gunslinger 270]

You are correct mate, it can only be announced when the market closes for trading at 5pm. The formal offer can be made during the trading hours though.

makes sense.

[CanadianBacon 2,088]

You're growing on me mate! By the way, was this 'granny' real, or is it the proverbial granny that comes in useful in arguments like this?-ha! I have my concerns, I tell you that, and I think you are right to have them as well. I suspect that Whyte has some plans that could be fruitful, but one should be sceptical

She wasn't a 'proverbial' Granny - she was a staunch, Church Of Scotland-attending, good old fashioned 'Presbyterian' Granny that could spot a fly-man at 100-paces.

Bad leg and all she'd have chased this wee London-based spiv the full length of the Paisley Road West and beyond.

The plans that "could be fruitful" will be fruitful to two people and two people only.

The wee London-based spiv and his London-based side-kick, 'Andy' Barrow-boy.

I should add I was born on Planet Sceptical.

[MisterC 12,257]

As I said last night, if this goes through then it will be an important development which will stir up some debate.

[ogbg 20]

She wasn't a 'proverbial' Granny - she was a staunch, Church Of Scotland-attending, good old fashioned 'Presbyterian' Granny that could spot a fly-man at 100-paces.

Bad leg and all she'd have chased this wee London-based spiv the full length of the Paisley Road West and beyond.

The plans that "could be fruitful" will be fruitful to two people and two people only.

The wee London-based spiv and his London-based side-kick, 'Andy' Barrow-boy.

I should add I was born on Planet Sceptical.

Would she suggest an alternative source of funding?

[Guardian 4,281]

You are correct mate, it can only be announced when the market closes for trading at 5pm. The formal offer can be made during the trading hours though.

I can't see any mention of that in the takeover code. It appears to say the opposite.

2.9 PUBLICATION OF AN ANNOUNCEMENT ABOUT AN

OFFER OR POSSIBLE OFFER

(a) When an offer or possible offer is announced, the announcement

must be published in typed format and sent to a RIS by fax or electronic

delivery.

(b) If the announcement is published outside normal business hours, it

must be submitted as required, for release as soon as the relevant

service re-opens; it must also be distributed to not less than two

national newspapers and two newswire services in the UK.

© The requirements under (a) and (b) above are in addition to any

other announcement obligation to which the offeror may be subject.

[beelin 0]

My Dad, who works in Edinburgh for NatWest, says it will be a dark day for Rangers if this goes through, he wouldn't elaborate, just said it is all there for anyone who wants to find it.

[gunslinger 270]

As I said last night, if this goes through then it will be an important development which will stir up some debate.

it will be a bit late by then.

[Gerwelly 115]

Sounds like it's reaching the tickley bit - let's hope its and not

[gunslinger 270]

looks like aj's pulled a master stroke and doubled up the money for coisty.

CRAIG WHYTE has vowed to DOUBLE Ally McCoist's summer transfer kitty in a move that could finally win him control of Rangers.

SunSport can reveal that London-based tycoon Whyte has now pledged a £10MILLION close season war chest for new boss Coisty.

The commitment came in a fresh round of weekend talks - after Sir David Murray assured McCoist that he would only do the deal if more dosh was made available.

Whyte agreed to a fresh injection of transfer funds - and that has edged him closer than ever to completing his takeover.

It's understood the terms could now be rubber-stamped by the Ibrox board within days.

Whyte had initially vowed to hand over £5m a year for the next five years to McCoist.

But Rangers chiefs were unhappy with that figure - and support grew for a rival bid backed by Paul Murray, Dave King and Douglas Park.

Now though, Whyte has upped the stakes and Gers chairman Alastair Johnston has admitted that a deal is looming ever closer.

He said: "We are now much closer to viewing Craig Whyte's bid as the right one for Rangers."

The developments will come as a huge bodyblow to rival bidders Murray, King and Park, whose offer would have given McCoist more cash to spend as he seeks to rebuild the team this summer. But the proposed deal crucially failed to win over Lloyds Bank as it would not have wiped out Rangers' debt.

Whyte's package, in contrast, met the criteria of clearing the £20million that will take Lloyds out of the club and wipe the slate clean. A source close to the deal said last night that there is nothing now standing in the way of the paperwork being signed, sealed and delivered.

He added: "It looks like the end-game is fast approaching - and Whyte will take control of Rangers. A deal could be just days away.

"Craig's investment could now rise to £55million and there is now an acceptance within Ibrox from the chairman down that this is the way to go.

"Paul Murray is well respected within Ibrox and there is no question that he has the club's interests at heart but that package has come too late in the game."

http://www.thescottishsun.co.uk/scot...sh-Coisty.html

[CanadianBacon 2,088]

The London-based spiv has been outed as a tightwad then?

[Broxi1872 183]

A SUMMIT meeting may finally have paved the way for Craig Whyte’s £52.5m takeover of Rangers.

The Scottish businessman met Rangers directors hours after the Old Firm match on Sunday to thrash out a way forward after the revelation last week that club directors were prepared to mount a rival bid for Sir David Murray’s majority holding.

Last night Alastair Johnston, the club chairman, was understood to be moving closer to approving Whyte’s bid. This would cap an extraordinary week in the saga. Only last Tuesday, Johnston released a statement on behalf of the independent sub-committee of Rangers directors vetting the deal. This criticised Whyte for not talking to them and questioned if he had money to take the club forward.

This statement also gave the first intimation of the rival bid by Paul Murray, a Rangers director, who is part of a consortium headed by Dave King, the South Africa-based businessman. However, it seems Whyte has regained the upper hand in the battle for the club after his camp were stunned by the tone of the Johnston statement and the declaration of a rival bid.

Whyte, who has spent a six-figure sum on professional fees during due diligence, launched his bid last November and fought for it at the meeting on Sunday. It is not known if Sir David Murray was present but it is believed he made a presentation, possibly by video link.

His intervention is crucial. The owner has the capacity to anoint his successor and it seems he has chosen to pick Whyte. With Whyte having tied up a deal with Sir David and with the Lloyds Banking Group, the directors were left in a position where they had to accommodate him.

A source close to the talks said last night that any statement from Johnston backing a Whyte takeover would be “significant” but the Scottish businessman’s camp were not prepared to celebrate just yet, despite the chairman telling the BBC that: “The committee are much closer to viewing Craig Whyte’s bid as the right one for Rangers.”

Whyte’s supporters are aware there is the capacity for another twist in the saga but they must be comforted by the latest development. Whyte’s strongest card is the support of the club’s owner, but he is also bolstered by having reached an agreement with the Lloyds Banking Group, the club’s major creditor.

Banking sources have consistently told The Herald that they were satisfied with the agreement made by Whyte and that Lloyds had little appetite for entering into a round of negotiations with rival bidders. Whyte thus sat down with the sceptical directors on Sunday night with two aces in his hand. It was still unclear last night about how he has persuaded Johnston and the other dissident directors to come around to his bid.

There will be speculation that Whyte, a hardened venture capitalist, may have come to an accommodation with rival forces. However, he also had the option to “go nuclear”. The independent group of directors had no powers to veto a deal and Whyte, armed with backing from Sir David and Lloyds, could simply have issued a formal offer for shares and replaced the board.

It is understood both he and Sir David Murray were reluctant to pursue this option. The Rangers owner is anxious to leave the club with a stable, united board with the capacity of acting immediately to take the club forward.

The indications last night from Johnston suggest this is now a realistic possibility.

http://www.heraldscotland.com/sport/spl/rangers/significant-move-forward-as-johnston-joins-murray-in-backing-whyte-takeover-1.1097921

[1st_Jan_1994 4,868]

Put it this way, if he's still keen and spent hours of talks straight after watching that shite on display on Sunday - then he must be serious.

[RFC55 108,699]

My Dad, who works in Edinburgh for NatWest, says it will be a dark day for Rangers if this goes through, he wouldn't elaborate, just said it is all there for anyone who wants to find it.

Enlighten us please

[Nicika Jelavic 7]

Anybody been looking at the stock exchange?

[gunslinger 270]

Anybody been looking at the stock exchange?

no. you?

[boss 1,941]

Considering boss was told that the deal would be sealed last week, his contact obviously isn't as close to the deal as first thought. I'll wait for official word.

One source, who is close (rather than very close) to the deal said the next day. This was Frankie's info also. The other source, who is even closer to the deal, said "good news, very close" but didn't give a timetable.

[boss 1,941]

looks like aj's pulled a master stroke and doubled up the money for coisty.

Me not biting.

[MosesMcNeil 1,664]

My Dad, who works in Edinburgh for NatWest, says it will be a dark day for Rangers if this goes through, he wouldn't elaborate, just said it is all there for anyone who wants to find it.

Your own Dad wouldn’t tell you?

[SteveJ 743]

Anybody been looking at the stock exchange?

Yes and nothing so far

[Nicika Jelavic 7]

no. you?

No mate was just wondering but someone else below has and nothing

[gunslinger 270]

Me not biting.

i am not fishing if his delay has upped the bid by 5 million thats good.

after all one of aj's stated reservations was the lack of funding for team building. seems to have worked.

[MCLACHLAN1 49]

So are the cynics on here and elsewhere finally coming round to Mr Whyte or they still preaching he only has 50 p and we will be destined for ruin once he takes over?

[boss 1,941]

i am not fishing if his delay has upped the bid by 5 million thats good.

after all one of aj's stated reservations was the lack of funding for team building. seems to have worked.

Me still not biting.

AJ tried to pull a fast one, Whyte called his bluff, and AJ now has his tail between his legs.

[ibroxgers25 18]

dunno what to think theres no news on ssn so dunno if it will be done today another waiting game for us

[Rule Britannia GSTQ 1]

dunno what to think theres no news on ssn so dunno if it will be done today another waiting game for us

It's on the SSN website mate