Madison Update – 20 April
Commercial in confidence
A note of thanks to John Francis and the adviser panel for the email sent today. The information you received is balanced and considered. In my opinion, the facts stated are an accurate representation of the meetings held. As John mentioned in the email, the Adviser Panel (somewhat like myself) have limited control on the final outcome. However, speaking to Bob earlier today, it won’t just be the highest bidder that is considered in this process. Whilst this is important, so is cultural alignment, business continuity and terms regarding risk management, claims and any other conditions of sale.
Final bids are expected by the end of this week. This is on the condition we have addressed all the important questions in the data room and the responses are accepted (or don’t trigger more questions). As you can appreciate, everyone is generally risk-averse and this is heightened under the current economic environment. However, we believe any questions will be resolved reasonably quickly. Once the successful bidder is determined, Bob and his team will commence contract negotiations. It’s difficult to determine a time frame for this stage, although I know all parties would like an expedient outcome. The team at Seaview have done an extraordinary amount of work to support our team, it’s definitely made a challenging process a lot easier to navigate.
Post final negotiations and signed contracts, the transition process will commence. In the last few weeks, Jaime and Sophie (working closely with a project consultant) have created the project plan and resource allocation to ensure we can support you through the process.
As the transition stage unfolds, you will be more engaged in the communication with the winning bidder and there will be greater communication of timelines, support and process. We know this stage creates concern and potential anxiety. Our aim is to minimise this for your business.
CLICK HERE to register once for the Madison Update recurring webinar each Wednesday at 11am.
I realise you may have more questions based on the communications you have received today. Please call me or a member of the leadership team to discuss.
Contact numbers
Head Office 1300 789 575
Kerry 0402 145 480
David 0466 710 170
Jaime 0439 079 786
Thank you for the continued support and encouragement along the way.
Annick Donat
Madison Update – 20 April
Commercial in confidence
A note of thanks to John Francis and the adviser panel for the email sent today. The information you received is balanced and considered. In my opinion, the facts stated are an accurate representation of the meetings held. As John mentioned in the email, the Adviser Panel (somewhat like myself) have limited control on the final outcome. However, speaking to Bob earlier today, it won’t just be the highest bidder that is considered in this process. Whilst this is important, so is cultural alignment, business continuity and terms regarding risk management, claims and any other conditions of sale.
Final bids are expected by the end of this week. This is on the condition we have addressed all the important questions in the data room and the responses are accepted (or don’t trigger more questions). As you can appreciate, everyone is generally risk-averse and this is heightened under the current economic environment. However, we believe any questions will be resolved reasonably quickly. Once the successful bidder is determined, Bob and his team will commence contract negotiations. It’s difficult to determine a time frame for this stage, although I know all parties would like an expedient outcome. The team at Seaview have done an extraordinary amount of work to support our team, it’s definitely made a challenging process a lot easier to navigate.
Post final negotiations and signed contracts, the transition process will commence. In the last few weeks, Jaime and Sophie (working closely with a project consultant) have created the project plan and resource allocation to ensure we can support you through the process.
As the transition stage unfolds, you will be more engaged in the communication with the winning bidder and there will be greater communication of timelines, support and process. We know this stage creates concern and potential anxiety. Our aim is to minimise this for your business.
CLICK HERE to register once for the Madison Update recurring webinar each Wednesday at 11am.
I realise you may have more questions based on the communications you have received today. Please call me or a member of the leadership team to discuss.
Contact numbers
Head Office 1300 789 575
Kerry 0402 145 480
David 0466 710 170
Jaime 0439 079 786
Thank you for the continued support and encouragement along the way.
Annick Donat