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It will be the usual media shite that we've all heard before!

It will be interesting to hear of his potential successor but I wouldn't hold your breath....I can see Wellens being in charge for quite a while yet.

Edited by oafc1955
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Bluddy hell............what were you actually expecting the bloke to say?

"Corney was wrong to let Sheridan go"

" Abdallah's going to sign up before due diligence"

"Wright's a little sh*t and should never have been brought back"


Moiseley is trained in PR and is not going to say anything controversial. 

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Not sure what people's expectations are in terms of how quickly this deal should be done - but have read some criticism of SC et al for taking too long.


Not sure what people's experience of mergers and acquisitions is - but it's often a slow process.


I run a few businesses that the parent company is selling so I will give an indication of timeline.


May 2016 I was informed of intention to sell

October 2016 we informed colleagues of intention to sell and that we were now marketing the businesses and looking for expressions of interest

January 2017 first stage bids in and process of comparing and understanding them commenced (not straightforward)

May 2017 Short listed bidders identified and final bids requested and Due Diligence phase one starts

July 2017 preferred bidders identified and phase 2 Due Diligence starts and final negotiations on commercial deal starts (a bit like having an offer on a house accepted - and then doing surveys and haggling money off because the flat roof looks a bit dodgy)


We are now almost in October and all 5 businesses are still under our control.  Some of these are close to being done finally, others will take until Christmas or beyond because there is an equivalent of a "fit and proper person" test because the areas we work in.


And this is apparently pretty standard - we have a £5m budget for advisors / legal support to manage this process and they deal with lots of deals.


Often deals seem to go quickly because people only become aware fairly late in the process.  I get the sense that the deal to buy/invest in Latics was made public earlier in the process.


Might be a while yet...

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