Archive for April 2020

Commercial in confidence As I mentioned in our last update, today Jaime, Kerry, Dave and I presented to one of the final three bidders.  We (virtually) met with the CEO, Chief Financial Officer and Chief Operating Officer.  We were asked to present an overview of Madison “in our words”, where we see opportunity, challenges and…

Commercial in confidence We’re at the pointy end of the sale process. The three bidders are conducting a thorough review of our business, and over the coming days will be raising questions and conducting meetings. The first of these meetings is between the Madison Leadership Team and one of the final three.  This meeting is…

Commercial in confidence There have been no material changes regarding the sale since yesterday’s communication. The three bidders are reviewing the information available in the data room and we anticipate questions to come from them early next week. We expect meetings will commence next week between the bidders, our Adviser group and key Madison staff. If you have…

Commercial in Confidence Sale Process Today the Adviser panel met with Bob and feedback from the group was positive. They are currently constructing questions to be posed to potential buyers. If you have not already done so please send questions to adviserservices@madisonfg.com.au. Fee Discussions We have received a few emails post the MLC Licensees’ fee support announcement.…

Commercial in confidence The data room has now been opened. The top three bidders have been notified.  Whilst they are the top three, they are also companies that understand advice and advisers.  This is a very important thing to note.  In my discussions with Bob, he has mentioned more than once that the CEOs of…

Commercial in confidence I spoke to Bob today and he mentioned he will be speaking to the bidders and providing information about the next steps for the sale process.  It is likely no more than three (potentially two) parties will be given access to the data room.   This is my preference also, as the information…