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McGills to be bought out?

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overthewater

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Mr Manager said:
Its all done via the shareholders. ie they increase say by 1% or more the shareholding. all funded by the person who wants to buy. normal caveats apply as in a signed document they they will only sell the shares to the named 3rd party in the document. so at the end of the day the company who wants to buy gets what they want just takes a little longer thats all.
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**************REF QUESTIONS NOT REAL*******

Does this mean lets just say Go Ahead could already own 50% of Mcgills?

I wonder how many other compaines could have fingers in pies?

In the likes of Mcgills and Ipswich bus it would only come out in the wash when there buy out the remaining shares?
 
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winston270twm

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Mr Manager said:
Its all done via the shareholders. ie they increase say by 1% or more the shareholding. all funded by the person who wants to buy. normal caveats apply as in a signed document they they will only sell the shares to the named 3rd party in the document. so at the end of the day the company who wants to buy gets what they want just takes a little longer thats all.
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Mr Manager,

How would the backer of Yourbus inject money in the business and safeguard it's position when they are not a listed share holder and additionally hide the source of the funding so it doesn't show where the funding came from on the Yourbus accounts?
 
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Mr Manager

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Bank loan/private loan any way really. so long as cash in the bank.

they could say its from their pension fund and or private savings anything really sale of an asset eg a house abroad or a expensive car anything really.

thing is so long as regards vosa and accountants so long as cash in the bank there is no law which states you have to prove where it came from. which it is normally a directors cash injection and we all know where that came from.
 
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winston270twm

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Mr Manager said:
Bank loan/private loan any way really. so long as cash in the bank.

they could say its from their pension fund and or private savings anything really sale of an asset eg a house abroad or a expensive car anything really.

thing is so long as regards vosa and accountants so long as cash in the bank there is no law which states you have to prove where it came from. which it is normally a directors cash injection and we all know where that came from.
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Interesting..... thanks for that ;)
 
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overthewater

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That Nice man has brought even more shares in Rangers

http://news.stv.tv/west-central/240...ts/?utm_source=twitterfeed&utm_medium=twitter

Sandy Easdale consolidates stake in Rangers with voting rights

Rangers football director Sandy Easdale has extended his voting rights to nearly a quarter of the club’s shares, less than a week after he was appointed.

In an announcement to the London Stock Exchange, the club announced Easdale had acquired voting rights over more than 12.5m ordinary shares, equivalent to 19.42% of the company.

Added to his own shareholding of 4.73%, that gives the Greenock-based businessman control of 23.8% of the voting rights in Rangers International Football Club plc.

Easdale joined the football board on Saturday, but unlike his brother and business partner James he is not a member of the board of directors that runs the plc....
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Where is he getting the money from?
 
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overthewater

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Someone early in the thread said an announcement would be made in October. Will we actually see this happen?
 
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overthewater

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In today's Scottish sun. Said owners want a £100m for the company after knocking back an £80million offer.
 
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kylemore

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Based on turnover and profits they should have grabbed the offer with both mits and ran before the buyer could look at the real books!:D
 
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GaryMcEwan

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kylemore said:
Based on turnover and profits they should have grabbed the offer with both mits and ran before the buyer could look at the real books!:D
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I've heard the company is only worth £27 Million, and profits of roughly £650,000. Totally agree they should have taken the money and ran...

But was it GoBus from Ireland that was interested, or was it another company called GoBus?
 
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overthewater

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and who is the second company that is interested.
--- old post above --- --- new post below ---
It was Go-Ahead that made the £80million offer, plus some one else has made an offer which has also been rebuffed. I cant understand why Mcgills want an extra £20million.

http://www.greenocktelegraph.co.uk/...ly-interested-in-pound100m-bids-for-bus-firm/

TWO global organisations have had ‘serious’ bids in the region of £80 million knocked back for Greenock company McGill’s Buses.............
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oldman

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.... according to an unnamed 'source'. All the company says is we had a bid and rejected it.
 
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overthewater

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The company did have two offers. Unless the company lied.
 
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Polo Mint

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Very interesting.

I bet First Bus would rather see them independent, as they might be worried about them entering more Glasgow routes.
 
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GaryMcEwan

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I emailed Holly Birch who is the Investor Relations manager at Go-Ahead when it was rumoured that they were interested all they months ago, and she stated point blank that there were no substance to the rumours. I can understand now why they refused to say anything in case it scuppered anything, which in fact they got turned down.

But locally people were saying before around the Govan/Renfrew/Paisley area that it was Ann Gloag that was the second party that was interested but that has never been substantiated...

But why would Go-Ahead want to come up to Scotland when they have no business up here to begin with?
 
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overthewater

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GaryMcEwan said:
But why would Go-Ahead want to come up to Scotland when they have no business up here to begin with?
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Because there have no business's up here, ;) It would be rather easy to entry the market.

Scotland has a pretty decent bus territory and has ALOT of rich pickings, for any company wishing to work for it, plus it close to Newcastle.
 
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oldman

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overthewater said:
The company did have two offers. Unless the company lied.
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The company said it had one offer and naturally enough did not say how much.

But according to the newspaper:

A source said: “There was a very serious offer for the company and that was followed up by another serious offer by another company.

“But I don’t think the owners will sell up and won’t take bids of any less than £98m.”
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So if anyone is lying it is not the company. But it could be the 'source'.
 
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Robertj21a

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oldman said:
The company said it had one offer and naturally enough did not say how much.

But according to the newspaper:



So if anyone is lying it is not the company. But it could be the 'source'.
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Since when did newspapers ever bother about facts or accuracy ?

Robert
 
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overthewater

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oldman said:
The company said it had one offer and naturally enough did not say how much.

But according to the newspaper:
So if anyone is lying it is not the company. But it could be the 'source'.
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Which paper are you getting this information?

The Scottish sun or Greenock telegraphic

From Greenock.... which I would rather trust over the sun.
A source said: “There was a very serious offer for the company and that was followed up by another serious offer by another company.
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oldman

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overthewater said:
Which paper are you getting this information?

The Scottish sun or Greenock telegraphic

From Greenock.... which I would rather trust over the sun.
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The GT has quoted what a source has told it but we don't know who the source is and we have no way of knowing if the source is telling the truth. Since the source also claims the Easdales would not settle for less than £98 million, I don't think it is very credible.

Would you pay £98million for a business making <£1m profit? Would anyone?
 
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overthewater

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oldman said:
The GT has quoted what a source has told it but we don't know who the source is and we have no way of knowing if the source is telling the truth. Since the source also claims the Easdales would not settle for less than £98 million, I don't think it is very credible.

Would you pay £98million for a business making <£1m profit? Would anyone?
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I do agree, the so called offer of around £100 does not stack up.
 
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Mr Manager

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It could also work the other way.

maybe they are sending a message to the bus world that the company is for sale. And see what offers come through the door. Anyone can say we have received 2 offers but in reality none have been received this is just a way of saying make us an offer.And that's a starting price. even though we know its not worth it. but make an offer :)
 
TheGrandWazoo

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Mr Manager said:
It could also work the other way.

maybe they are sending a message to the bus world that the company is for sale. And see what offers come through the door. Anyone can say we have received 2 offers but in reality none have been received this is just a way of saying make us an offer.And that's a starting price. even though we know its not worth it. but make an offer :)
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Very true. Wouldn't be the first time a story has been planted in the press ;)
--- old post above --- --- new post below ---
overthewater said:
Because there have no business's up here, ;) It would be rather easy to entry the market.

Scotland has a pretty decent bus territory and has ALOT of rich pickings, for any company wishing to work for it, plus it close to Newcastle.
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Close to Newcastle is hardly a plank of evidence.

In truth, the opportunity to buy McGills is hardly that attractive. An ageing fleet with a lot of ex London tat and a more determined First/low cost, low quality independents. I just don't see why Go Ahead would want it.
 
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cal

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It's all rather convenient that this happens so close to the Rangers AGM (in which the Easedales will be fighting to keep their spot on the board). It has toxic Jack Irvine's fingerprints all over it.
 
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GaryMcEwan

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cal said:
It's all rather convenient that this happens so close to the Rangers AGM (in which the Easedales will be fighting to keep their spot on the board). It has toxic Jack Irvine's fingerprints all over it.
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Well so far 91% of Rangers Supporters Trust members including me have stated that they want the RST as a whole to get James Easdale out....

It does start to smell of Jack Irvine and his nonsense...

'File under pish'
 
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