LFC Talk


New bidder completes due diligence by lfctalk
August 25, 2010, 15:52
Filed under: News

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Keith Harris, working for Seymour Pierce, says that due diligence for a potential takeover at Liverpool has been completed by a mystery bidder. Harris had previously stated that they are representing a bidder who wishes to remain anonymous.

A deal could be concluded sooner rather than later, Harris has told the London Evening Standard.

“The overseas buyer we represent has completed due diligence. A huge amount of work has been done.” he is quoted.

“It is none of the groups mentioned in the press. The ball is now in our client’s court to make an offer.”

“I do not think the deal will be done before the transfer window closes this month, but the next pressure point is October when some of the RBS loan of £237million has to be repaid.”

“It may happen then. But in the present climate these things are impossible to predict.”

Keeping a deal quiet and away from the media and public helps, Harris said:

“The Chinese government involvement was always a bit far-fetched.”

“In any takeover situation, when people resort to announcing it to the media, you have to question the seriousness of the offer.”

“If the name of the prospective buyer comes out before the deal is done then probably it is never going to be done.”

“Look at when Chelsea was sold in 2003. My firm was advising the club and we only knew of Roman Abramovich on the Thursday before the deal was completed the following Tuesday.”

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