I suspect that there has been significant investor pushback on the proposal. I reckon it reached the point where Next/English were no longer sure they had the numbers. Just to make the point; there are 3 types of bankers in this transaction; 1) the Next people who represent investment funds; they get their money by buying businesses cheaply, horizontalrelaxationing them up and reselling them for a profit; 2) other investment bankers who run the transaction and get a success fee; and 3) the bankers who are owed the money.
They are all elephants with big egos.
SIV Price at posting:
66.5¢ Sentiment: Sell Disclosure: Not Held
