Legal Prejudice 2 - Weather The Storms

Chapter 2

Allie Sat down at Max's meeting table with her notes on the Phillips case. The Group's owners wanted to sell but were concerned potential buyers would only want the US and Canadian businesses. Years before they had acquired a small group in the UK. Allie explained to Max that she'd pulled up the UK accounts from Companies' House which showed the UK group was profitable, but with a lower margin than the US counterpart. That said, the business had been under the control of the local UK management team, and there was an argument it was underperforming. Max hummed, "So what do you think their options are Allie?"

Allie turned her laptop to face him, "I've laid it out here. Basically they need to make a decision on whether they want to take some time to separate the UK group with a view to selling it under a separate deal. They would need to look at establishing separable IT for example, they'd need to engage with UK regulators, standalone UK contracts with customers and suppliers, and they could look to improve the margin to get the best price. If the appetite was there they could see if the UK team were interested in a management buy out. That would have the advantage of speed, but they may lose out on the sale price. They could just go ahead and look to include the UK group with North America, but I can see why they might be concerned it may put a US centric purchaser off. But if that situation arose they could revert to a plan to spin the UK out as a separate sale. The concern would be the delay in getting the regulatory approval and the systems stuff done, without delaying the rest of the deal."

Max say back thoughtfully, "This is great Allie. It's exactly what those guys need to think through before we work with the accountants and the bank to structure their sale stuff." He was quiet for a couple of minutes before he looked at the laptop screen, "How would you feel about expanding this out and coming along to present it to their board if I set up a meeting, say the end of next week?" Allie smiled, "Yeah absolutely. I can make a few slides for the main decisions and options. I'll draft something up and mail it over for you to review by the end of this week if that works?" Max sat back satisfied, "It most definitely does Allie. Hang on, I'm just going to call Dan, I want him in on on this as part of his new role as relationship lead partner." He dialled Daniel's extension, "Hey Dan, got five minutes to swing by my office? I'm with Allie and we need your input."

While they were waiting Allie took the opportunity to change the subject, "Did Margie tell you she's offered to have Emmie on Friday night so Dan can come out to play?" Max rolled his eyes fondly, "She did. Like at least twenty times in the last two days." Allie laughed as Daniel crossed the office and came in taking the seat next to Allie. "We were just discussing how grandpa Max is on Emmie duty on Friday." Dan burst out laughing as Max glared at Allie,  "I swear to god Allie, if you call me grandpa one more time I'll leave Emmie to Margie and not only come with you on Friday, but I'll make you buy my drinks all night! Anyway, Phillips case Dan. Allie is going to present some pros and cons for spinning off the UK entities on the side of the business they want to divest next week. Thing is, they have big expansion plans for the other side of the group with the proceeds, so I can smell a lot of business with these guys for the next few years. As the new relationship lead Dan I want you in on this one. I'll get Carly to set it up." Dan nodded, "Sounds like a plan, I'll grab the file and read up on them." Allie grabbed her laptop, "I'll copy you in on the draft presentation Max is going to review. Best go, Carly's outside waiting for you and you know she gets mad if you're late." Daniel grabbed the door for her as Max groaned, "Don't I know it!"

On Friday morning Allie read back over the presentation she'd drafted the day before, tweaking a word here and there before she Emailed it over to Max. He didn't get a chance to look at it until after lunch. He replied asking her to change the order of a couple of the slides, and added a few suggestions for the introduction. She was making coffee with Daniel and Robyn when he headed to get his own. "Hey Allie, I just sent you those Phillips slides back, suggested a few minor amends but great job. Can you make the changes and save it down, then you can drive from your laptop for the meeting yeah?" Allie nodded, "Sure can Max. Here, coffee." Max grinned, "Thanks, and you guys leave early tonight. Dan, I'll come collect Emmie and drop you 'round at Michael and Allie's about six thirty yeah?" Dan nodded, "Sounds good, thanks Max. I'm crashing in their spare room tonight. I'll call Margie in the morning to organise getting Emmie. She's got a party in the afternoon."

David Williams had come over and Allie had stepped aside to let him get to the coffee machine. "What's this? Did I hear party?" Max laughed, "Dan's four year old, but her Dad has a party of a different kind with these guys tonight, so I'm just telling them to head home early to get ready." Allie moved off saying, "Thanks Max, I just need to clear a few things before I finish. See you all later." Robyn and Daniel moved off too and as Max turned away David said, "You know Max, the rest of the guys might see you letting them leave early as preferential treatment." Max narrowed his eyes but kept his tone even, "You really think so? Not sure why David. When Allie and Dan have been leaving after six every night this week I haven't seen any other staff around." He didn't wait for a response and walked back to his office, coffee in hand.