"The board is now firmly in control"{which was not the case...

"The board is now firmly in control"{which was not the case before we arrived}

In reply to some one not interested in the business plan going forward..Thats all that matters to me.

SO Who was calling the shots in growing this MFS monster?
The webcrawler info suggests that the backers start leading the way ..perhaps leading to the problems.
Then assume the "White Knight" role and buy up cheap.

In my fantasy land I imagine ...that Citicorp was a 4% holder just under substantial..a Citycorp subsiduary held margin loans over the CEO and his Deputy..CVC maybe the private equity arm of Citicorp, have moved in to buy the main revenue producer,Stella.65% very cheap.This is just a imagined scenario and sure, MFS must have been vulnerable.

Is there any one on the board standing back from the financials and looking at this thing from a distance?

Do our Australian Banks have Private Equity arms that can
follow this example? Seems to be a way to buy distressed cos.imo.

imo Chris Scott has not acted in everyones best interest in the past and I hope that this experience shows an educated man that good financials are not the only consideration when building a business that LASTS.

Australian business is at a disadvantage because we do not have the vast amount of OLD money of the rest of the world and we are a relatively small population dealing with enormous need for infrastructure.

It will take smart operators to hold their ground and still make fair deals to continue development.
If MFS PIF has the door closed to a suiter,,I feel heartened. They must have good reason.

I am not so hell bent on earning 50C per share as finding out what went wrong? was MFS ambushed ? How do Aust Cos deal with this type of fiasco/ situation in the future?

Transparency is the way forward.