RichardCanning Posted August 14, 2006 Share Posted August 14, 2006 Isn't it great to be able to have the new owner as an avatar and be proud! Link to comment Share on other sites More sharing options...
icklevillan Posted August 14, 2006 Share Posted August 14, 2006 I cant remember feeling this good about Villa. This is happening, right? Link to comment Share on other sites More sharing options...
Downbutnotout Posted August 14, 2006 Share Posted August 14, 2006 Al Qaeda bomb plot eh? Shocking. :winkold: Link to comment Share on other sites More sharing options...
stevenjos Posted August 14, 2006 Share Posted August 14, 2006 I cant remember feeling this good about Villa. This is happening, right? This is all a dream. you will awoken by your alarm clock and a big wet patch :wink: Link to comment Share on other sites More sharing options...
PB Posted August 14, 2006 Share Posted August 14, 2006 Closed this one now "14 August 2006 Recommended Cash Offer for Aston Villa plc ("Aston Villa") by Reform Acquisitions Limited ("RAL") Summary and Highlights The Boards of RAL and Aston Villa are pleased to announce the terms of a recommended cash offer by RAL to acquire the entire issued and to be issued share capital of Aston Villa. RAL, is an English company, which was newly incorporated for the purposes of making the Offer and which is ultimately controlled by Mr Randolph Lerner, owner of the Cleveland Browns Football Club, USA. The Offer will be 547 pence in cash for each Aston Villa Share, valuing the existing issued share capital of Aston Villa at approximately £62.6 million. The Offer represents a premium of approximately 47.24 per cent. to the Closing Price of 371.5 pence per share on 16 September 2005 (being the last Business Day prior to the date of the commencement of the Offer Period) and a premium of approximately 9.95 per cent. to the Closing Price of 497.5 pence per share on 11 August 2006 (being the last Business Day prior to the date of this announcement). The Board of Aston Villa, which has been so advised by Rothschild, consider the terms of the Offer to be fair and reasonable. In providing its advice to the Board of Aston Villa, Rothschild has taken into account the commercial assessments of the Aston Villa Directors. The Board of Aston Villa intends unanimously to recommend that Aston Villa Shareholders accept the Offer, as the Aston Villa Directors (and certain members of their immediate families) have irrevocably undertaken to do in respect of their own beneficial shareholdings of Aston Villa Shares. Those holdings amount, in aggregate, to 4,111,514 Aston Villa Shares, representing approximately 35.91% of the existing issued share capital of Aston Villa. In addition, RAL has received an irrevocable undertaking to accept the Offer from Trefick Limited in respect of a further 2,396,909 Aston Villa Shares, representing approximately 20.94 per cent. of the existing issued share capital of Aston Villa. In aggregate, therefore, RAL has received irrevocable undertakings to accept the Offer in respect of 6,508,423 Aston Villa Shares, representing approximately 56.85 per cent. of the existing issued share capital of Aston Villa. Commenting on the Offer, Randolph Lerner, Chief Executive Officer of RAL, said: "It is my belief and the basis for my bid to acquire Aston Villa Football Club that it can compete at the highest level within the Premiership and in Europe. The Club has a rich history and a long tradition of passionate fan support." Douglas Ellis, Chairman of Aston Villa, said: "It has been my sincere pleasure to have been involved with Aston Villa these many years, both as Chairman and as a substantial shareholder. The Club has been an enormous and immensely enjoyable part of my life. I wish to thank the many staff at Aston Villa over the years for making the Club what it has been and what it is. I am sure that this transaction will be the beginning of a new chapter in Aston Villa's proud history." This summary should be read in conjunction with the full text of the following announcement and the Appendices. Appendix 1 sets out the conditions and principal further terms of the Offer. Appendix 2 contains source notes relating to certain information contained in this announcement. Appendix 3 contains details of the irrevocable undertakings received in relation to the Offer. Certain terms used in this announcement are defined in Appendix 4 to this announcement." Link to comment Share on other sites More sharing options...
Jez Posted August 15, 2006 Share Posted August 15, 2006 Mail are reporting today, its not online yet though. We want Randy! Link to comment Share on other sites More sharing options...
mansonAVFC Posted August 15, 2006 Share Posted August 15, 2006 This is Villa, things arent going to go as planned, i hope this guy doesnt **** it up! WE WANT RANDY! Link to comment Share on other sites More sharing options...
Digsby Posted August 15, 2006 Share Posted August 15, 2006 Oh. :shock: Link to comment Share on other sites More sharing options...
Chief Posted August 15, 2006 Share Posted August 15, 2006 crap :-( Link to comment Share on other sites More sharing options...
mansonAVFC Posted August 15, 2006 Share Posted August 15, 2006 And the bubble starts to burst! Link to comment Share on other sites More sharing options...
Pelle Posted August 15, 2006 Share Posted August 15, 2006 What happens if he does? Can't Ellis and the shareholders just turn that bid down? Link to comment Share on other sites More sharing options...
ahamaad Posted August 15, 2006 Share Posted August 15, 2006 Ahem. The Lerner bid is the one recommended to shareholders. The Judge can bid all he likes. Link to comment Share on other sites More sharing options...
RichardCanning Posted August 15, 2006 Share Posted August 15, 2006 VFC need to be reformed and make a statement that we do not want these assclowns in charge as the Lerner plan is better. Think the offer has to be approved before being put before the board so heres hoping it doesn't get approval! Link to comment Share on other sites More sharing options...
Jez Posted August 15, 2006 Share Posted August 15, 2006 Is it true though that "Ellis has signed an agreement committed to selling his shares to Randy so I doubt any other parties would come in for it without paying a huge premium on those shares?" (read somewhere else) Link to comment Share on other sites More sharing options...
PB Posted August 15, 2006 Share Posted August 15, 2006 Guys look We are in a win-win situation if this guy can make a bid that is genuinely better for Villa than lerner then he should be welcomed with open arms. let him bid, lets see the details, and then we can compare with Randy. To slag the guy off before then is IMO just silliness. Link to comment Share on other sites More sharing options...
a526166 Posted August 15, 2006 Share Posted August 15, 2006 Lerner already has irrevocable agreements in place to purchase over 56% of the shares. Any new bid would be dealing with him as the major shareholder, unless I am very much mistaken.... Link to comment Share on other sites More sharing options...
PB Posted August 15, 2006 Share Posted August 15, 2006 Lerner already has irrevocable agreements in place to purchase over 56% of the shares. Any new bid would be dealing with him as the major shareholder, unless I am very much mistaken.... The agreements lapse if someone offers more than 5% more than lerner AND if the board recommends the new bid Link to comment Share on other sites More sharing options...
Digsby Posted August 15, 2006 Share Posted August 15, 2006 Lerner already has irrevocable agreements in place to purchase over 56% of the shares. Any new bid would be dealing with him as the major shareholder, unless I am very much mistaken.... As quoted from the Times today; Ellis and Petchey have given "irrevocable undertakings" that they will sell to Lerner. But this is what the City calls a 'soft' irrevocable undertaking. The normal irrevocable undertaking is 'hard', which means it cannot be reversed. In this case, if Ellis receives another offer which is five per cent or more higher than Lerner's offer, then he could change his mind and sell to the other bidder. But such an offer must be completed within 10 calendar days. This has clearly been done to test whether other bidders, such as the Michael Neville consortium, really do have the money. It was a previous group headed by Solihull businessman and long-time fan Neville that launched the takeover speculation in Sept 2005. Since then Neville has put together several consortiums and just before the World Cup even approached former Villa manager Graham Taylor with a proposition to join him. His present consortium is composed of many elements, including hedge funds, and it is difficult to see how he could come up with a higher offer that would satisfy the 10-day limit Ellis has now put on the deal. Should that happen, Lerner would have to accept defeat, but he would be paid one per cent of the offer he is making - some £600,000. However, insiders say that this is extremely unlikely and the Lerner deal is all but done and dusted. Link to comment Share on other sites More sharing options...
damo6 Posted August 15, 2006 Share Posted August 15, 2006 Guys look We are in a win-win situation if this guy can make a bid that is genuinely better for Villa than lerner then he should be welcomed with open arms. let him bid, lets see the details, and then we can compare with Randy. To slag the guy off before then is IMO just silliness. i agree, at the end of the day we all want whats best for the villa and without seeing the ins and outs of each bid nobody can say which one is the best at this point the only annoying thing about it would be doug getting yet more money off the back of the club :roll: Link to comment Share on other sites More sharing options...
Richard Posted August 15, 2006 Share Posted August 15, 2006 Lerner will win. Link to comment Share on other sites More sharing options...
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