[AusNOG] Soul/TPG buying Pipe ...

[Paul Brooks]

Skeeve Stevens wrote:
>
>  
>
> Am I missing something?  Was Pipe in trouble and had to sell? Was 
> there a downward forecast or something?
>
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.
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.

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.

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.

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.

Cheers guys, all the very best for your future.

Paul.


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