Jim, plus PwC who had just completed the review on Quindell were consulted so we had a total,of:
* Citi
* Greenhill
* E&Y
* PwC
* SGH Mgt in the UK since 2012
* 70+ lawyers carrying out bottom up file review
That is a hell of a lot of fire power saying it is a deal worth closing.
The thing is all the talk is just speculation at is it has been all along. Every bit of news/rumour is perceived as evidence that the company is failing. For every argument we have do far that things are bad there could be a counter argument.
* closing offices and redundancies - counter that with - isn't that normal for a large integration? Shed duplication and direct resources where fee generation is evident
* Employees/ex-employees posting comments about the company mgt and poor performance - counter argument - isn't that to be expected, perfectly normal human behaviour to look for blame and spread dirt on those forcing misfortune on one. I feel very sorry for anyone losing their job; however, comments always have to be read in context of a person under stress of under a burning desire for revenge.
Roll on Monday. What will we talk about in a week of two after the cyclone has blown through and it is back to normality? I've a few thoughts!
SGH Price at posting:
83.0¢ Sentiment: Buy Disclosure: Held