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Skeeve Stevens wrote:
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<p class="MsoNormal"><span
style="font-size: 11pt; font-family: "Calibri","sans-serif"; color: rgb(31, 73, 125);">Am
I missing something? Was Pipe in trouble and had to
sell? Was there a downward forecast or something?</span></p>
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We are all missing many somethings, being on the outside of the
transaction - thats why there are quite rightly such concepts as
non-disclosures and trading halts. Its not our business, or our cash,
and $300+ million is a powerful encouragement.<br>
Speculation about the whys and hows is futile (inevitable, but futile
:-) ), and attempting to second-guess motivations - Bevan's, SPT, or
anyone else without contribution from the principals is not much more
than mental masturbation - and I wouldn't expect much illumination in
this forum while the transaction is taking place.<br>
<br>
Given this transaction - assuming all the ducks line up in a row - will
not be consumated until March next year, there's plenty of opportunity
for that in this forum.<br>
<br>
Yes, it will mean significant change in the industry, and particularly
for Pipe customers - but then change and surprises are fairly normal
in this business. I am disappointed that the first reactions on this
list were around fairly selfish and petty issues such as the
possibility of withdrawal of the benevolent Pipe trough we have all
enjoyed, and Ausnog drinks sponsorship - something easily picked up by
many others. With all the great mentors, friends and incubators that
Pipe people have been to most of us, my thoughts are with all our
professional and personal friends at Pipe and the uncertainty they
went home with tonight, and I hope everyone comes out of the next six
months in good shape.<br>
<br>
I am absolutely confident the Pipe directors have very good reasons -
in the relatively short time I have known Bevan he's always had very
good reasons and judgement (apart perhaps from the blacklist thing!),
and at AusNOG or earlier if the opportunity arises I for one will be
very glad to stick my hand in my pocket and buy a beer for a Pipe guy
instead of sponging on their generosity yet again.<br>
<br>
Cheers guys, all the very best for your future.<br>
<br>
Paul.<br>
<br>
<br>
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