icklevillan

They have 1bn (largely) in fixed assets... having 64m in liquidity is another thing entirely.

Take it from me he ain't any better..... and I geninely take no pleasure in saying that Then what on earth is he doing running a £64m business?

doesnt it just mean that trading has closed for the day?

Copyright 2006 EXPRESS NEWSPAPERS All Rights Reserved The Express January 5, 2006 Thursday U.K. 1st Edition SECTION: SPORT FOOTBALL; 66 LENGTH: 566 words HEADLINE: Ellis fears Villa bid is finished BYLINE: JOHN WRAGG BODY: THE GBP 64million takeover of Aston Villa is on the verge of collapse with chairman Doug Ellis increasingly concerned about the lack of action from Irish brothers Brian and Luke Comer. Michael Neville, spokesman for the Comer Homes Group, said before Christmas that the deal was still on and would be completed early in the new year. Villa privately doubted that, pointing out there had been little progress since October when news of the Comer brothers' interest first broke. Successive deadlines for Comer Homes to come up with the money have been set and missed and there is still no sign of cash on the Villa boardroom table. Ellis, who has just turned 82, is keen to sell and has met Brian and Luke Comer for face-to-face talks. But Ellis's patience is being tested and there are severe doubts on the Villa board that the deal will now happen. Neville, a Villa supporter, has backtracked on his original optimistic statement that the takeover was close and the Comers, who have made their millions out of property development, are investigating more thoroughly the land on offer as part of the deal. Land at Bodymoor Heath, near Tamworth, is being used to improve and extend Villa's training complex, the first phase of which is under construction and due to be opened next season. Further building will complete the project for the 2006-7 season, leaving the Comer brothers with no profit there. Land owned by Villa within Birmingham city boundaries was set to be sold to a supermarket chain but that has been blocked by the city council because there is already a new supermarket in the vicinity. The suburb of Aston itself is one of Birmingham's most deprived areas and it is not likely Comer Homes could build and make big profits there. Brian and Luke Comer are not football fans and, although they have pledged to invest in the club, their primary interest is in the profits to be made from Villa's land assets. The Comers had promised that 20 per cent of the group's profits would be available each year, making a total of GBP 20m to be invested in players and the stadium annually. It was even suggested that the money might be available for new players during the current transfer window, but again no cheque has been forthcoming. Neville said the delay has been caused by the consortium's solicitors going through all aspects of the club's trading performance during a process known as "due diligence". But that excuse is wearing thin with no formal offer being made by the Comers. Villa fans, eager for new money to come into the club, fear this takeover will collapse just as Ray Ranson twice failed to buy Villa from Ellis. Ellis said at Villa's annual general meeting that he would only sell to an owner who had the football club's interest at heart and now, with the long delay and doubts about Comer Homes' intentions surfacing, fans will want him to keep that pledge. Villa are still willing to talk to the Comers and finalise the takeover, but they are getting little encouragement. A Russian consortium was believed to have looked at Villa last season but nothing came of it. Now Alexandre Gaydamak has put GBP 15m into Portsmouth and will help redevelop Fratton Park. Villa are continuing to look for investment and a buyer, anticipating that the Comers will finally pull out. The search is being conducted by Ellis himself and he will continue to run the club until a suitable buyer is found. GRAPHIC: SALES PITCH: Villa chairman Doug Ellis will only sell to someone with the club's interests at heart LOAD-DATE: January 5, 2006

Teah, so far it is just speculation, but as its speculation from a national paper (however dubious/discredited the source), I thought i'd pass it on anyway. Remember though that both Ellis and Comer are very limited in what they can say due to Stock Market regulations, so both sides may be using mouthpieces here.

Copyright 2006 Associated Newspapers Ltd. All Rights Reserved DAILY MAIL (London) January 5, 2006 Thursday LENGTH: 185 words HEADLINE: VILLA TAKEOVER COLLAPSING BYLINE: BY NEIL MOXLEY BODY: THE proposed takeover of Aston Villa by Irish property developers appears to be on the point of failure. Villa chairman Doug Ellis has not received any guarantees that the money for the £64.4million purchase of the club is available. Brothers Brian and Luke Comer have been pursuing Villa for the past three months but so far have done little to persuade main shareholder Ellis that funds will be forthcoming. Several deadlines were set by Ellis for the consortium to prove they had the cash, but nothing has been provided to support their claims. Ellis has been voicing his concerns to leading figures in the Villa hierarchy and now it seems the club will remain in limbo until the chairman can find another suitable buyer. A spokesman for the Comer Group insisted the dealwould go ahead, although it was taking longer than expected to conclude. Although an investment vehicle for the takeover hasbeenset up, Villaareincreasingly doubtful the bidders are serious. It has also emerged that development plans for the area around Villa Park may not yield the expected windfall that the Galwaybased group were looking for. LOAD-DATE: January 4, 2006

I think we are being told as much as we can be told. Information on stuff like this is always passed around and revealed on a need to know basis for fear of prejudicing the price.

Sorry Ickle, mis understood. But the point stands that Villa have been on that list since November, this is not a new development and just signifies that the company is in a bid situation, it does not reflect the progress or the status of the bid. Fair enough.

That was my point... it relates to Ranson and Thompson... a bid which didnt go through... my point was that just because its appeared on the same table doesn't mean that all is done and dusted. That is old news, that's the point. BUT Ranson and Thompson did make an offer, and I think that if an offer has not been made already, it is very very close.

I have a feeling that now the two main stumbling boxes in any other takeover were ticked (asset appreciation met, future interests met) the takeover would happen smoothly. However, this is Doug Ellis we are talking about, "Mr Aston Villa" (barf). He wants something for himself despite the money, to fuel his ego and to maintain his reputation. I feel that what is truly holding this deal back is that Ellis wants to retain his position at Villa, to continue to negatively meddle in affairs long after his exit as an "honourary" (I use the word subjectively) chairman. I feel that Neville and the Comers don't want this - and why should they? If they have a vision for Villa, why should it include the old order? Why should it have to include an incompetant (and probably incontinent :winkold: ) 82 year old has-been meddling in affairs when in any other takeover he would gracefully accept his departure. Do you actually have any evidence for any of that?

yep, DD is concluded before any offer is made.

An offer has been made, for, I think above 1% of the company's stock to the majority shareholder (Aston Villa PLC). As we know it's from AVIL, we know that it's pretty much certainly for all of Ellis's stock. The bid could still be rejected, but it is rare for a company to make an offer after six months of negotiation that is rejected, because "what kind of price would you accept" is normally a part of the negotiations.... remember the six month mandatory deadline - if this offer is rejected - the Comers can't make another offer for six months.

A term used on the London Stock Exchange which refers to the period of time during which market makers in a security are obliged to display their prices. For SEAQ (Stock Exchange Automated Quotations Service), the period is from 8.00 am to 4.30 p.m.

Hmmm... given that this ---- it's definitely not over yet. BUT it does mean an offer has been made, and that's not old news. At the same time, I can't see Comer et al making an offer at this stage that they werent certain was going to be accepted.

I think, what it is, given that there has been no announcement made that it's definitely happened, that an offer has been made for above a certain % of the stock, and that that has triggered the need to disclose.... which is good because it's clear from everything that Comer and Neville have said so far - that they're not looking to take a minority shareholding.

http://www.thetakeoverpanel.org.uk/new/disclosureTable/DisclosureAll.htm

When i've Googled companies in that Takeover Table, most have come up with a news article saying that the company has been taken over. I'm gonna stick my neck out and say that I think we can start the party. At the very least, there's been an offer made.

Murphy on 5L has said the other day that Ellis wants to sell, and has a good working relationship with Neville. It's fairly well accepted that Murphy is close to Ellis.

Ever think Doug might be as much criticised for what he hasnt actually said as what he has? Doug's no saint, but its just a thought.

I think its widely acknowledged that Ellis wants to sell, and is happy to sell at the price. The fact that Murphy has come out and said this only adds credence to it to me. However, he doesnt want it dragging on forever either - particularly as what happens in January will shape our season, and if he cant see a deal, he cant see a deal

From the very first of this Ellis said that Pat Murphy would have the exclusive on this whole saga. IMHO if it comes from Murphy that is as good as a direct quote from Smellpiss that we are going to get at the moment. Murphy's tone this morning was that he had been told it.. He didnt say so, but neither did he give the impression he was plucking all of this out of thin air

By lonely Witton wall, I heard a young man calling Nothing matters, Villa, when you're free Against the Fans Combined and the crowd, He rebelled, he ran you down. Now Comer will raise our child with dignity.

Pat Murphy on R5L x Neville has a good working relationship with Ellis x Neville wants Ellis in. x Murphy thinks its going to happen, but that the Comers need to get a move on, and that Ellis will want serious movement by next week. x However, there is a caveat that the legal and financial advisers are going to be important, not Neville.

whats this line that they keep on repeating on R5L that "time is reportedly running out" on the takeover?

Didnt Ranson's group go through due diligence though only for their bid to be rejected? If a bid has been accepted, Ellis was have had to have informed the LSE