Charlton stop takeover talks

WhenIwasLittleBoy

Mate of mine works in the city and he has informed that Charlton today stopped takeover talks with another party and that the current board will stay as it is, so were we going to sell up, and who to??? Or has the consortium or individual not come up with the funds????

leftbehind

oh well no cash injection then

no mega amounts of money to spend

AFKABartram

This is the press release:

On 16 August 2007 the board of Charlton Athletic Plc ("Charlton" or the
"Company") announced that it had retained Seymour Pierce Limited to consider a
range of strategic options, which may or may not have led to an offer for the
Company.

Following the conclusion of this strategic review, the board of Charlton has
concluded that the best interests of Charlton and its shareholders are served
under the current ownership and management structure.

As a result, all talks regarding possible offers for the Company have now been
discontinued.

The board of Charlton is committed to the long term success and future of the
Company, including the provision of appropriate funding, so to ensure that the
club is well placed to challenge for Premiership status.

WSS

[cite]Posted By: AFKA Bartram[/cite]The board of Charlton is committed to the long term success and future of the Company, including the provision of appropriate funding, so to ensure that the club is well placed to challenge for Premiership status.

Nice one.

Off_it

Reading between the lines this says to me that there were possibly no offers - or no serious ones at least.

Or is that just me?

AFKABartram

I read it the same.

Alex Wright

For some reason I read the thread title as that we'd stopped negotiating to take over Palace.

Hmmmm

LoOkOuT

With the criteria the Board have for investment, which, as I understand it, I fully endorse, I'd say that finding a suitable investor is like finding the proverbial needle in a haystack. So, it makes sense to keep the club progressing and just wait and see.

razil

Interesting though as someone told me recently the club hadn't been for sale, so it seems it was and as some people have said above possibly no suitable buyer was found. I Still don't see what QPR had over us, perhaps they were cheaper and therefore had more unrealised value?

Barn Door Varney

[cite]Posted By: LoOkOuT[/cite]With the criteria the Board have for investment, which, as I understand it, I fully endorse, I'd say that finding a suitable investor is like finding the proverbial needle in a haystack. So, it makes sense to keep the club progressing and just wait and see.

Do the current board have the funds and ability to keep the club progressing though?

razil

I doubt it, but hey ho who wants to be a super rich arseholes play thing? tsk tsk. Yo yo here we come

WhenIwasLittleBoy

Charlton have announced that talks with potential investors over a takeover of the Coca-Cola Championship outfit have been discontinued.

The Addicks were a reported target for a £45m buy-out from a Middle East consortium just after they were relegated from the Barclays Premier League last season, and brought in takeover experts Seymour Pierce in August to weigh up their options.

But the current regime, headed by chairman Richard Murray, will now remain at the helm as team boss Alan Pardew attempts to guide the club to promotion back into the top flight at the first attempt.

In a statement to the Stock Exchange, the club said: "Following the conclusion of the strategic review, the board of Charlton have concluded the best interests (of the club) and its shareholders are served under the current ownership and management structure.

"As a result, all talks regarding possible offers for the company have now been discontinued.

"The board of Charlton is committed to the long-term success and future of the company, including the provision of appropriate funding, so to ensure that the club is well-placed to challenge for Premier League status."

Stu_of_Kunming

I'd rather be a yoyo club that some rich mafia boss' play thing.