'But then again, what would I know. According to Success, I work as a partner in a competitor firm. Both wrong. I own several practices. I don't do PIL (once, a long time ago, >10 years, but it only ever caused grief, loss and complaint, and the cases, they dragged on and on and on)'.
Yes that is right mr Grant? We are all in the same boat knowing nothing about the final outcome of the bank deal (if indeed been made).
Just under two years ago Slater and Gordon was valued at around 2billion AUD (350mill shares x $8 - $800mill debt).
What would happen if the company was taken over 100% by the banks?
Debt could be wiped and the company could possible be returned to former glory worth 2billion.
Banks would have made a profit of 1.2billion on a 800mill investment. Not bad is it?
Of course the banks would not really come to own 100% of SGH. The above is just to illustrate that SGH is worth something. In my opinion it is worth a lot and the banks know it.
Figures above are not meant to be accurate but illustrative.
I have never said you were a partner in competitor firm to my knowledge.
And SGH is not just about personal injury they have a large spread of law firm services available.
So maybe you are feeling the squeeze from SGH?
Maybe the reason that you did not do well in personal injury is because of SGH? Maybe you were not big enough?
Because of SGH's size economies of scale and competitive advantage comes to mind.
All the above is just my opinion.
Guessing like everyone else