Although we have had indications from certain Skandia shareholders that they do not accept, this has got a long way to go, |
I think probably it is very tough out there at the moment (for Skandia) with what has been going on, |
In many respects we have bought companies that are fundamentally strong, but have issues that we believe our management and our expertise can help resolve, |
That is a significant level, |
That is why we'd like to complete the transaction as fast as we possibly can. |
The (threshold in the) prospectus is at 90 percent. We want the whole of the company, |
The three top shareholders (Fidelity, Cevian and Burdaras) are very much in favor of the transaction. We are confident that the compelling logic of the transaction is coming through, |
There is a degree of uncertainty, yes. |
We have done a very considerable due diligence. We have spent a lot of time with the local management and have got a good understanding of the positioning of the brand and the positioning of the business in Sweden. |
We will wait to see whether we get to 75%, when we get the extra £10m of tax synergies. |
We won't go hostile. We want to own the whole of the business. Therefore we want to own over 90 percent in order to squeeze out the minorities. |