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Re: DIC: takeover thread
One other thing with regards to Hicks. Although he is richer than Gillett, the important thing is, how cash rich? The vast majority of his business empire is funded by borrowed money.
Additionally, doesn't Hicks sports group in the states own his 50% share of Kop Holdings?
Hicks recently tried to attract investors to this sports group that includes his American sports teams under a special rule in the States - rule 144 or something like that. Basically, he could only sell to banks and financiers, etc - no Joe Public allowed, because of the special rule - i.e. they don't have to go through all the hoops and stringent checks by their Securities Board to float and therefore too risky for Joe Public. Failed miserably.
No takers. None. Nada. Zilch. Whatever bleeding language you care to use.
He was also warned by JP Morgan that if he attempted to buy Gillet's half, it would put the rest of his businesses at "serious risk".
The bloke is in almost as much trouble as Gillett. He does have one advantage over Gillett, and that is, the stadium - from what I've read, his associates and possibly himself will stand to make money off the construction.
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