Devizes Melting Pot

“Protection. Conservation. Restriction. Deep ecology. Give me deep technology any day. They don't scare me. "I'm damned if I'll crawl, my children's children crawl on the earth in some kind a fuckin' harmony with the environment. Yeah, till the next ice age or the next asteroid impact." (Moh Kohn, The Star Fraction)/ "This is the fight between God and the Devil. If His Grace is with God, he must join me, if he is for the Devil he must fight me. There is no third way" King Gustavus Adolphus

My Photo
Location: Devizes, Wiltshire, United Kingdom

University graduate, currently working as an Information Assistant for the NHS. Interested in politics, history, sci fi etc.

Saturday, December 01, 2007

Northern Rock

JC Flowers tries to derail Virgin bid for Northern Rock

US private equity firm says it is being snubbed by Treasury officials and signals better rewards for investors
JC Flowers, the US private equity firm, made a last-ditch bid yesterday to wreck Sir Richard Branson's takeover of Northern Rock after it signalled possible increased payouts for shareholders as part of a revised offer.

The move is likely to heighten tensions between the three main bidders for the bank and the Treasury, which is thought to be keen on a quick sale to close the door on the politically and financially embarrassing episode.

Sources close to Flowers said attempts to sit down with Treasury officials this week had proved fruitless, despite promises from the government that all takeover proposals would be examined.

The Treasury denied last night that it was reluctant to engage in talks with the Flowers team. "We stand ready to have discussions with any bidder that meets the principles we set out," it said.
Oh my this hedge fun group hates losing, they will only get 10p back for everything they have invested.

They are WATB*, they took a gamble and now its not worked out as they hoped, so suck it up Hedge Fund!

*Whiny Ass Titty Babies

Labels: , ,


Post a Comment

Subscribe to Post Comments [Atom]

<< Home