Elliot react to Inverstop’s ultimatum regarding the Milan takeover

The Elliot Management will take time to evaluate offers amid the ultimatum set by Investcorp, a potential candidate in the race to become Milan’s new owners.

According to an update on the matter from MilanNews, Elliott is in no hurry to accept any proposal from Ivenstcorp despite the Bahrain-based firm setting an ultimatum. Two days ago, Milan president Paolo Scaroni was quoted as saying,

“I understand that there are two offers and it takes time to complete the scope of the offer, to understand them well and to compare them.”

As reported previously, the respective ultimatum has a short notice period. It is understood that Investcorp have grown exhausted with the time taken by the lengthy process. And above all, the late entry of America-based RedBird Capital Partners into the fray has somewhat dismantled their patience.

Elliot’s negotiations with Investcorp over a potential takeover of Milan have been going on for months, with the interested party reportedly offering €1.2billion to buy the 99.93% of the stakes of the club.

On the other hand, RedBird have lodged a bid of around €1.1billion. And the report further suggests that Elliot keeps on waiting for better offers as the Rossoneri edges closer to their first Scudetto since the 2010–11 season.

Jyotirmoy Halder

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