ALK Capital or Farnell/Elkashashy takeover

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Goobs » Fri Nov 20, 2020 3:54 pm

Hedontplayforyou wrote:
Fri Nov 20, 2020 3:50 pm
Any chance of getting back to the takeover?
If there was anything to talk about we might, but as nobody actually knows anything there really isn't much to discuss until something actually happens I think.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Hedontplayforyou » Fri Nov 20, 2020 3:57 pm

Then let’s leave this for updates , I’m sure many people like myself, come on this thread to see any updates if and when there are any. Not wether or not Barry Kilby is a betting tycoon or not
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Sproggy » Fri Nov 20, 2020 4:46 pm

Chris Boden @bodenknights
Just had an update in terms of the takeover - led to believe deal is in documentation now, i.e. takeover bid from ALK has been sent to chairman and shareholders detailing offer
4:34 PM · Nov 20, 2020·Twitter for iPhone

Chris Boden @bodenknights
Now, Farnell/El Kashashy group also confident, told they are still waiting on owners and directors’ test, maybe last week of November, first week of December
4:37 PM · Nov 20, 2020·Twitter for iPhone

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by arise_sir_charge » Fri Nov 20, 2020 4:48 pm

Leisure wrote:
Fri Nov 20, 2020 3:29 pm
Just googled G-Tech and I'm none the wiser.
Couple of links to help you out.

https://en.wikipedia.org/wiki/Barry_Kilby

https://en.wikipedia.org/wiki/GTECH_Corporation

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by jrgbfc » Fri Nov 20, 2020 4:49 pm

That probably happened weeks ago if Boden is reporting it today.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Dark Cloud » Fri Nov 20, 2020 4:55 pm

Hedontplayforyou wrote:
Fri Nov 20, 2020 3:50 pm
Any chance of getting back to the takeover?
Sorry!

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by arise_sir_charge » Fri Nov 20, 2020 5:00 pm

Sproggy wrote:
Fri Nov 20, 2020 4:46 pm
Chris Boden @bodenknights
Just had an update in terms of the takeover - led to believe deal is in documentation now, i.e. takeover bid from ALK has been sent to chairman and shareholders detailing offer
4:34 PM · Nov 20, 2020·Twitter for iPhone

Chris Boden @bodenknights
Now, Farnell/El Kashashy group also confident, told they are still waiting on owners and directors’ test, maybe last week of November, first week of December
4:37 PM · Nov 20, 2020·Twitter for iPhone
Wonder if that means all shareholders in respect of the ALK bid?

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by ewanrob » Fri Nov 20, 2020 5:03 pm

Asked for a comment on speculation that a deal is edging closer, and a spokesman for ALK Capital said: “The process remains ongoing but talks are in a happy place.”

Happy place....do I like the sound of that
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by scouseclaret » Fri Nov 20, 2020 5:26 pm

arise_sir_charge wrote:
Fri Nov 20, 2020 5:00 pm
Wonder if that means all shareholders in respect of the ALK bid?
Well I haven’t heard anything!

Usual form with takeovers is for the bidding parties to submit their terms to the Board, who will decide and then make a recommendation to all shareholders.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by claretandy » Fri Nov 20, 2020 5:31 pm

Anyone know if ALK have passed the directors test that the Egyptian bid seem to be struggling with ?

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by MRG » Fri Nov 20, 2020 5:36 pm

claretandy wrote:
Fri Nov 20, 2020 5:31 pm
Anyone know if ALK have passed the directors test that the Egyptian bid seem to be struggling with ?
No, ALK aren’t that far down the road yet. There is nothing at all suggesting that the ‘Egyptian bid’ is struggling, everything is moving as expecting with that bid

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Leisure » Fri Nov 20, 2020 5:59 pm

MRG wrote:
Fri Nov 20, 2020 5:36 pm
No, ALK aren’t that far down the road yet. There is nothing at all suggesting that the ‘Egyptian bid’ is struggling, everything is moving as expecting with that bid
How do you know this, please?

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Zlatan » Fri Nov 20, 2020 6:48 pm

Talks are in a happy place with ALK
I understand the deal is in documentation - with a takeover bid from ALK sent to the chairman and shareholders detailing the offer - and, asked to comment on the state of play, a spokesman for ALK Capital said, with a nod to Burnley fan Jordan North’s antics on reality show I’m a Celebrity, Get Me Out of Here!: “The process remains ongoing, but talks are in a happy place.”

There is a confidence that the deal could be completed before Christmas, potentially handing Sean Dyche and Clarets fans everywhere an early present.
https://www.burnleyexpress.net/sport/fo ... on-3043011

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Woodleyclaret » Fri Nov 20, 2020 7:24 pm

Let's hope its sorted soon and Sean gets funds to recruit much needed replacements in time for January window
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by scouseclaret » Fri Nov 20, 2020 7:32 pm

The same article says they have “exchanged contracts” with the Egyptian bid, which suggests an agreement in principle, subject to the directors test. Doesn’t this mean the talks with ALK will be irrelevant if Elkashashy passes this test?

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by icu81b4 » Fri Nov 20, 2020 7:35 pm

Sproggy wrote:
Fri Nov 20, 2020 4:46 pm
Chris Boden @bodenknights
Just had an update in terms of the takeover - led to believe deal is in documentation now, i.e. takeover bid from ALK has been sent to chairman and shareholders detailing offer
4:34 PM · Nov 20, 2020·Twitter for iPhone

Chris Boden @bodenknights
Now, Farnell/El Kashashy group also confident, told they are still waiting on owners and directors’ test, maybe last week of November, first week of December
4:37 PM · Nov 20, 2020·Twitter for iPhone
I'm a share holder, and nobody has sent me any documentation!

>>>>>>>>>>>>>>>>> And here is an apology for wasting a slot on this thread with meaningless input.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by KRBFC » Fri Nov 20, 2020 7:35 pm

I have no idea why but I’m desperate for ALK to win the race and I have no idea about any details of ALK.

Let’s go ALK!!!!
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Steve-Harpers-perm » Fri Nov 20, 2020 7:42 pm

KRBFC wrote:
Fri Nov 20, 2020 7:35 pm
I have no idea why but I’m desperate for ALK to win the race and I have no idea about any details of ALK.

Let’s go ALK!!!!
Think most of us are thinking the same. Sounds like an interesting few days ahead.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by BenWickes » Fri Nov 20, 2020 7:55 pm

The 2nd bid has stole a march it seems. They submitted to the PL at the start of this week. Assuming they clear the PL stringent rules. It doesn't make them favourites per se, but I would think MG would like this sorted before the new window.
It generally takes a few weeks to clear. If ALK want to be at that table for a decision. They need to be putting forward their case to the PL very soon.
I think the ALK bid is more acceptable to fans but they need to proceed post haste or face losing their bid.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Father Jack » Fri Nov 20, 2020 7:56 pm

Don’t understand why we would have signed anything binding with one party with another party clearly also in the race.
Feels more a case of the Egyptian bid was further progressed so given the opportunity to pass the ODT, whilst the ALK bid may still be invited to do the same should the written offer meet with approval. Potentially MG/JB trying to have two birds in the hand from which they can select the ultimate winner?
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by jtv » Fri Nov 20, 2020 8:06 pm

"Exchanged contracts" presumably means draft contracts so that the respective lawyers can pick holes and earn their corn.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Bertiebeehead » Fri Nov 20, 2020 8:10 pm

A slower takeover than my dads 1980 Lada Riva on the M62 to Leeds in the late 80s.
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by dushanbe » Fri Nov 20, 2020 8:14 pm

ewanrob wrote:
Fri Nov 20, 2020 5:03 pm
Asked for a comment on speculation that a deal is edging closer, and a spokesman for ALK Capital said: “The process remains ongoing but talks are in a happy place.”
Holy crap, we are being taken over by Bob Ross

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by taio » Fri Nov 20, 2020 8:14 pm

jtv wrote:
Fri Nov 20, 2020 8:06 pm
"Exchanged contracts" presumably means draft contracts so that the respective lawyers can pick holes and earn their corn.
A term normally beyond the draft stage that means a legally binding agreement. Hopefully a misuse of the term.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by bfcjg » Fri Nov 20, 2020 8:25 pm

Both parties are having a medical............................
Results are in..............

Both certified insane and sectioned under the mental health act for attempting to buy a small provincial club during a global pandemic for £200,000,000 or thereabouts.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by cbx750 » Fri Nov 20, 2020 8:28 pm

dushanbe wrote:
Fri Nov 20, 2020 8:14 pm
Holy crap, we are being taken over by Bob Ross
I hope not he's been dead 25 years. :(
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by ClaretTony » Fri Nov 20, 2020 8:31 pm

Rojales Claret wrote:
Fri Nov 20, 2020 1:40 pm
I used to work at Cambridge Press back in the day when Barry Kilby was there. Can't fully remember his roll then but he was more office based but not sure if he was owner or not. It was a long time ago. I do recall he was a very nice man.
He is, as was his dad Roy.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by ClaretTony » Fri Nov 20, 2020 8:32 pm

icu81b4 wrote:
Fri Nov 20, 2020 7:35 pm
I'm a share holder, and nobody has sent me any documentation!

>>>>>>>>>>>>>>>>> And here is an apology for wasting a slot on this thread with meaningless input.
It’s not meaningless input, it’s confirming that the Burnley Express have not got it right.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Hedontplayforyou » Fri Nov 20, 2020 8:37 pm

ClaretTony wrote:
Fri Nov 20, 2020 8:32 pm
It’s not meaningless input, it’s confirming that the Burnley Express have not got it right.
Does this mean that not ALL shareholder have been approached ? Or that the express is just wrong altogether?

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Vegas Claret » Fri Nov 20, 2020 8:40 pm

Father Jack wrote:
Fri Nov 20, 2020 7:56 pm
Don’t understand why we would have signed anything binding with one party with another party clearly also in the race.
Feels more a case of the Egyptian bid was further progressed so given the opportunity to pass the ODT, whilst the ALK bid may still be invited to do the same should the written offer meet with approval. Potentially MG/JB trying to have two birds in the hand from which they can select the ultimate winner?
it's almost like putting a bid out for something, ask everyone to submit their offer then those around the table decide which one to proceed with

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by ClaretTony » Fri Nov 20, 2020 8:42 pm

Hedontplayforyou wrote:
Fri Nov 20, 2020 8:37 pm
Does this mean that not ALL shareholder have been approached ? Or that the express is just wrong altogether?
I can confirm all shareholders have not been informed. Info I’ve had today suggests things have moved from what the Express have suggested.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Father Jack » Fri Nov 20, 2020 8:51 pm

Tony that’s abit cryptic. Are you allowed to share your latest understanding of where things are?

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Hedontplayforyou » Fri Nov 20, 2020 8:53 pm

I’m guessing from Tony’s post that maybe the Egyptian bid had moved on from there

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by KRBFC » Fri Nov 20, 2020 9:19 pm

bfcjg wrote:
Fri Nov 20, 2020 8:25 pm
Both parties are having a medical............................
Results are in..............

Both certified insane and sectioned under the mental health act for attempting to buy a small provincial club during a global pandemic for £200,000,000 or thereabouts.
Small club? Historically when have we ever been a small club? Steeped in history, the only thing we don’t have is a huge City catchment area to further enhance our attendances.
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Zlatan » Fri Nov 20, 2020 9:29 pm

Hedontplayforyou wrote:
Fri Nov 20, 2020 8:53 pm
I’m guessing from Tony’s post that maybe the Egyptian bid had moved on from there
Or alternatively the ALK bid has...

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by clarethomer » Fri Nov 20, 2020 10:01 pm

Is the directors test an natural conclusion to the sale? Or can the ALK go through the same test afterwards so the club can make a decision?

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by ClaretTony » Fri Nov 20, 2020 10:04 pm

clarethomer wrote:
Fri Nov 20, 2020 10:01 pm
Is the directors test an natural conclusion to the sale? Or can the ALK go through the same test afterwards so the club can make a decision?
The owners and directors test does no more than clear them to purchase the club. Without passing that no one can buy a Premier League club.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by clarethomer » Fri Nov 20, 2020 10:09 pm

ClaretTony wrote:
Fri Nov 20, 2020 10:04 pm
The owners and directors test does no more than clear them to purchase the club. Without passing that no one can buy a Premier League club.
Thanks, so it's reasonable to expect that BFC want to get both parties to that stage before making a decision?

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by MRG » Fri Nov 20, 2020 10:39 pm

clarethomer wrote:
Fri Nov 20, 2020 10:09 pm
Thanks, so it's reasonable to expect that BFC want to get both parties to that stage before making a decision?
The club will have usually communicated an intention to move forward with a bid prior to them going taking it to the league. A lot of work is involved.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by clarethomer » Fri Nov 20, 2020 10:43 pm

MRG wrote:
Fri Nov 20, 2020 10:39 pm
The club will have usually communicated an intention to move forward with a bid prior to them going taking it to the league. A lot of work is involved.
So ALK are wasting their time if BFC have allowed the other bid to go through the directors test with the epl?

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Paul Waine » Fri Nov 20, 2020 10:47 pm

clarethomer wrote:
Fri Nov 20, 2020 10:43 pm
So ALK are wasting their time if BFC have allowed the other bid to go through the directors test with the epl?
or, maybe they've already got news that the other bid isn't finding it easy to satisfy ODT?

Happy Place, Happy Place, Turf Moor, everyone. ;)

UTC
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by MRG » Fri Nov 20, 2020 10:54 pm

clarethomer wrote:
Fri Nov 20, 2020 10:43 pm
So ALK are wasting their time if BFC have allowed the other bid to go through the directors test with the epl?
I don’t think so. There’s still so many things that can happen along the way. That said, the other bid was certainly some way ahead. If that’s still the case, only time will tell 😉

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by ClaretTony » Fri Nov 20, 2020 11:09 pm

clarethomer wrote:
Fri Nov 20, 2020 10:43 pm
So ALK are wasting their time if BFC have allowed the other bid to go through the directors test with the epl?
Not wasting their time, they think they are still in for the club. Who knows? The Elkashashy/Farnell deal could be turned down by the PL over the involvement of one or both of them. Farnell was trying to buy Wigan only last month according to some reports.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Wokingclaret » Fri Nov 20, 2020 11:10 pm

"That said, the other bid was certainly some way ahead. If that’s still the case, only time will tell 😉"

Its the Wacky races

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by mybloodisclaret » Sat Nov 21, 2020 12:03 am

I hope ALK win. It just feels a lot better fit.

Crazy spending would bring doomsday for us within 15 years.
Significant spending, youth development and many upgrades to the Turf could future proof us for decades.
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Chester Perry » Sat Nov 21, 2020 12:41 am

mybloodisclaret wrote:
Sat Nov 21, 2020 12:03 am
I hope ALK win. It just feels a lot better fit.

Crazy spending would bring doomsday for us within 15 years.
Significant spending, youth development and many upgrades to the Turf could future proof us for decades.
If we have learnt anything in the 28 years since the Premier League started it is that clubs of our size are never future-proofed, it can all collapse within as little as a season, and no matter what the groundwork.
Last edited by Chester Perry on Sat Nov 21, 2020 12:55 am, edited 1 time in total.
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by aggi » Sat Nov 21, 2020 12:46 am

mybloodisclaret wrote:
Sat Nov 21, 2020 12:03 am
I hope ALK win. It just feels a lot better fit.

Crazy spending would bring doomsday for us within 15 years.
Significant spending, youth development and many upgrades to the Turf could future proof us for decades.
Who would have thought we'd reach the point where American private equity investment was viewed as a positive fit for Burnley.
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by HB Claret » Sat Nov 21, 2020 7:21 am

Chester Perry wrote:
Sat Nov 21, 2020 12:41 am
If we have learnt anything in the 28 years since the Premier League started it is that clubs of our size are never future-proofed, it can all collapse within as little as a season, and no matter what the groundwork.
Hope whoever takes over doesn’t make the same mistake as the Venky’s did and believe that there is no such thing as relegation 😂😂

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by claptrappers_union » Sat Nov 21, 2020 7:25 am

aggi wrote:
Sat Nov 21, 2020 12:46 am
Who would have thought we'd reach the point where American private equity investment was viewed as a positive fit for Burnley.
This is why I initially thought the the Farnell bid was a planted story to make ALK look more enticing to supporters. Either that or the ‘Egyptian bid’ was a nudge to get ALK to pull their finger out and to make a deal...

The fit and proper persons test by the Premier League has been going on for aaaaaaages now if you’re to believe the press. I don’t realise they took so long

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Nonayforever » Sat Nov 21, 2020 7:34 am

HB Claret wrote:
Sat Nov 21, 2020 7:21 am
Hope whoever takes over doesn’t make the same mistake as the Venky’s did and believe that there is no such thing as relegation 😂😂
The Venky's were conned.
They were told they could save money by sacking SA but were not made aware of the consequences. I believe it was Anderson who sold them a pup.

Going back to the owners test - can anyone apply ? or does a selling club have to put a name forward. It matters quite a lot if the first scenario applies.

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