RE:RE:RE:RE:RE:RE:RE:14 days....Thanks Zep, I appreciate your comments.
I would hope for the sake of our investment and the company that all deals / negotiations would have come to a halt when the new CEO started. Not to dwell on the past but we all agree that the previous management made some horrible deals and decisions.
When plans to build the VMC were announced an investor with confidence in management would think, “This team must have a sure deal in the background to produce something with this”…… Nope. There are more examples.
We are now sitting on a deal that previous leadership developed, selling the Animal Health division and betting on Urocidin to provide income. Why would we have any confidence in this path?
I hope Berendt is taking all the time he needs to review all of the pending deals and the current direction of the company. Completing a deal because it was already in progress or on a slide at the AGM does not describe a strong leader. I believe that a great CEO (1 person) can drastically change the culture of a company. Demonstrating strong leadership, providing a business plan created from DD and presented with confidence to management and staff can make a difference.
I hope that all of these deals go through; Urocidin is a huge home run. We all watched and heard the same thing at the AGM. I don’t know if Berendt is a great CEO but he is ours now so I would have more confidence if he stamped all deals going forward.
As far as hiiting dealines related to PR's , time will tell.
AGM Slide Animal Health
Animal Health Divestment
vManaged by Evercore since May, 2013
vThe process was highly visible and generated a substantial amount of interest from strategic and financial industry participants
vThirty-four counterparties executed confidentiality agreements and received a confidential information memorandum
vPotential parties were short-listed according to preliminary, non-binding bids received
vShort-listed parties have completed or are nearing completion of due diligence
vFinal offers are expected by mid-November, 2013
vShareholder approval to be sought at a special meeting within 30-60 days following definitive agreement signing