Morgan bid set to fail.

[danhaddad]

SSN reports that the board meeting has just concluded.

 

Morgan's bid has been described as 'unattractive.' After reading the explanation of Morgan's bid, I can understand this conclusion.

 

Looks like the Thai offer is the only one they are left to make a decision on.

[Barrington Womble]

here's the press release .....

 

Liverpool Football Club confirms that it has received two indicative proposals for investment in the Club, the Thai Investment Proposal and the Bridgemere Proposal backed by Mr Steve Morgan.

 

 

The Board of Liverpool Football Club has today met with its financial advisors, Hawkpoint Partners, to consider these proposals.

*

The Board notes that the Bridgemere Proposal, at £1,750 per share, implies a current value of £61 million for the entire Club, which is a substantial discount to the value placed on the Club by the Board. The Board has therefore concluded that the Bridgemere Proposal as currently constituted is not attractive. It intends to discuss its response to both these Proposals with the respective parties.

*

A further announcement will be made in due course.

[Guest Martin]

It is said that he valued the club at £61m from what i have read that was not what he said but I have not read the fine print but i hope this the opening move in more detailed talks maybe getting more cash?

[cochcaer]

Good. feckin carpet bagger fooled most but the board are hardly going to go down the turkeys voting for xmas route.

[REDTALISKER]

I wouldnt be surprised if morgan had already anticipated that this offer would be rejected.

Pretty sure there are a few more rounds to be played out yet.

[Tim]

The way morgan has put together his proposal this is how he values the shares:

 

approx 35,000 shares currently issued with morgan valuing each share at £1750.

 

This would put the value of the issued shares at approx £61.25m

Now taking into account his plans the number of shares at the end of it would amount to 770,000 in circulation with each share being valued at £175. This would then give a total share value of £134.75m

 

Now if we replace Morgans share valuation with the current market value for each share (£4,000 per share) this would produce the following results:

 

Current share valuation £140m while if we take into account the same proposals (replacing a share valuation of £175 per share with £400 per share) this would give a potential final valuation of £308m.

 

Now these are only rough valuations so may be out slightly but I think they are fairly close to how they would look.

[Vivaldo]

Big difference hey Tim, he is obviously a very astute business man as he would not have made his millions from his reported 5k loan from his dad also to propose this and fool most of the fans!!! All the media are now saying that he has the "complete backing of the fans". Like on the other threads he is merely trying to buy the club for as cheap as possible, and to put enough spin on it to get all the fans on his side, now how can this be considered to be in the best interests of the club?