Auteur
Soms levert documentanalyse namelijk informatie op over de voortgang van een proces. In de cursus CSI Internet, die ik volgende week in Canada geef (http://www.caj.ca/events/conf-2007/schedule.html), pleit ik voor een goede analyse van elektronische documenten, zie ook de eerdere berichten op dit board over de Calipari-case, http://www.voelspriet2.nl/forum/index.php/topic,4186.0.html, de onbedoelde revisies in de Borssele-brief en de metadata in de stukken van de AIVD.
De resultaten zijn beschikbaar gesteld aan Menno Tamminga van de NRC, die daarover vanmiddag iets schrijft op de economiepagina, zie het hele bericht op http://www.nrc.nl/economie/article712101.ece/Zoek_het_verschil_een_bank,_twee_contracten
Citaat
Het consortium publiceerde deze week twee LaSalle-contracten. Internet-zoekspecialist Henk van Ess bracht de verschillen tussen de twee versies aan het licht.
Er zijn twee Purchase and Sale Agreements. Het ene contract blijkt het oorspronkelijke ABN Amro-Bank of America contract over verkoop Lasalle te zijn, het andere, met de wijzigingen, het voorstel van het consortium van de drie andere banken. Het consortium heeft beide versies op internet gezet om tegemoet te komen aan de AFM-eis van openheid over wat er rond de verkooponderhandelingen in dat 5/6 mei weekeind is gebeurd. De ABN Amro versie had ABN Amro eerder zelf al op internet gezet.
De eerste dateert van 2 mei, de tweede van 6 mei. Alleen in de versie van 2 mei zijn draft-opmerkingen blijven staan: wijzigingen en toevoegingen maar wat vooral interessant is ook VERWIJDERDE passages. Voor een juiste exegese is het onvoldoende om alleen het stuk van 2 mei te lezen. Dat moet worden vergeleken met het stuk van 6 mei. Gelukkig is daar sofware voor, Diff Doc, te downloaden op http://www.softinterface.com/DL/DL_Product.ASP?ProductType='Diff%20Doc'%20And%20WordDocDiff. Hieronder lees je de resultaten. In totaal is sprake van 400 gewijzigde woorden in de allereerste, waarvan 234 zijn verwijderd. Die geschrapte woorden komen in geen enkel stuk meer terug en zijn dus in een vroegtijdig stadium van de onderhandelingstafel verdwenen. Om welke zaken gaat het?
In het stuk van 2 mei blijkt dit te zijn verwijderd:
Purchaser has provided to Seller a true and complete copy of an executed commitment letter, dated as of the date hereof by [ ] (the “Commitment Letter”). The aggregate proceeds of the financings to be provided under the
Commitment Letter will be in an amount sufficient to enable Purchaser to consummate the transactions contemplated hereby and acquire all shares of the Company Common Stock pursuant to this Agreement, and to pay all fees and expenses related to this Agreement, the Commitment
Letter and the transactions contemplated hereby and thereby. There are no material conditions to the funding of the financings described in the Commitment Letter other than the conditions precedent set forth in the Commitment Letter delivered to Purchaser on the date hereof (the conditions so set forth, the “Disclosed Conditions”), and no Person has any right to (i) impose, and Purchaser has no obligation to accept, any condition precedent to such funding other than the
Disclosed Conditions or (ii) reduce the amounts of the financing commitments made in the
Commitment Letter (subject to the Dsclosed Conditions).
Ook deze passage is NIET terug te vinden in de uiteindelijke versie:
Public Disclosure. Seller and Purchaser shall consult with each other before issuing any press release or otherwise making any public statement or making any other public (or non-confidential) disclosure (whether or not in response to an inquiry) regarding the terms of this
Agreement or any of the transactions contemplated hereby, and neither shall issue any such press release or make any such statement or disclosure without the prior approval of the other (which approval shall not be unreasonably withheld or delayed), except as may be required by law or the rules of any market or exchange on which the shares of Seller or Purchaser may be listed for trading, in which case the party proposing to issue such press release or make such public statement or disclosure shall consult with the other party before issuing such press release or making such public statement or disclosure.
In de uiteindelijke versie staat dat 6.3 met opzet is verwijderd (intentionally deleted).Vier financiële paragrafen zijn geschrapt en komen niet terug in het stuk van 6 mei, althans niet in deze bewoordingen:
a) Purchaser shall use reasonable best efforts to arrange the financings described in the Commitment Letter on substantially the terms and conditions described therein, including commercially reasonable efforts to (i) satisfy on a timely basis all terms, conditions, representations and warranties applicable to Purchaser in the Commitment Letter, (ii) enter into definitive agreements with respect thereto as promptly as practicable but in any event prior to the Closing on terms and conditions no less certain than those contained in the Commitment Letter and (iii) obtain funds under the Commitment Letter.
(b) Purchaser shall keep Seller reasonably informed with respect to all material activity concerning the status of the financings described in the Commitment Letter and shall give
Seller prompt notice of any material adverse change with respect to such financings. Without limiting the foregoing, Purchaser shall notify Seller promptly, and in any event within three
Business Days, if at any time prior to the date of Closing (i) the Commitment Letter shall expire or be terminated for any reason or (ii) any financing source that is a party to the Commitment Letter notifies Purchaser that such source no longer intends to provide financing to Purchaser on the terms set forth therein. Without the prior written consent of Seller, neither Purchaser nor any of its
Affiliates shall take any action or omit to take any action that could reasonably be expected to materially impair, delay or prevent Purchaser’s obtaining of the financings described in the
Commitment Letter or any alternate financing arrangement. Purchaser shall not, without the prior written consent of Seller, amend or alter, or agree to amend or alter, the Debt Commitment Letter in a manner that would materially impair, delay or prevent the transactions contemplated by this
Agreement.
(c) If any portion of the financings described in the Commitment Letter becomes unavailable on the terms and conditions contemplated in the Commitment Letter, Purchaser shall use commercially reasonable efforts to (i) arrange alternate financing (on terms and conditions no less favorable in any material respect than those contained in the Commitment Letter) and, if obtained, shall provide Seller with a copy of the new financing commitments, (ii) enter into definitive agreements with respect thereto as promptly as practicable but in any event prior to the Closing and (C) obtain funds under such commitment letter to the extent necessary to consummate the transactions contemplated by this Agreement. If Purchaser obtains a new financing commitment for at least the same amount of financing as contemplated by the
Commitment Letter as originally issued and on terms and conditions that are no less favorable in any material respect than those contained in the Commitment Letter as originally issued, then the new commitment letter in respect of such financing shall be the “Commitment Letter” for purposes of this Section 6.16.
Hoe spannend is de informatie? Ik ben geen fusiejurist, maar echt veel bloed vloeit er niet uit deze revisies. Wat opvalt is dat men op het laatste moment heeft afgezien om samen persberichten op te stellen. Dat is een detail, maar dankzij analyse van de verschillende documenten haal je het er wel uit.
Gelogd
