jamie 67From the announcement on the 30th April it appears that...

jamie 67

From the announcement on the 30th April it appears that the DR is open. The announcement also states that interested parties will sign a confidentiality report prior to being allowed entry.

Now this differs from the announcement on the 16th of March were the process included an IM.

Usually an IM is prepared and bidders have say 2 weeks to peruse and put in a non binding offer. Depending on this offer they will be allowed into the DR.

This NBIO is very useful, especially with GS as from what I am led to believe they "control" this space in the US. This means that the bidder would only want to move from the NBIO if there is a material difference in the DR when cw the IM ( this should never happen). Thus if a bidder wishes to purchase the Co. I am confident that their final offer will at least reflect their NBIO.

I do not believe that GS would let bidders into the DR without some indicaton as to purchase price, for this nbio to be of any value the bidders must have sufficient information to prepare a nbio as stated above this info is usually contained in the IM.

In summary if the DR is open then I believe that GS will now have NBIO.

Once the DR is open it is a matter of ticking the boxes and this company is very uncomplicated and this should not take long at all.

This could all be over sooner rather than later.

By the way there now appears to be no leakage at all from the company now that GS is in control. I site the recent IRR report and assoc sp in the days leading up to IRR release. Thus when/if ( I think when) MAE is taken over it will be very quick.

Thanks L, SD and others for recent informative posts.