Mr. Brendan McDonagh:

The deal was not done with Cerberus. The bids were received on 1 April, Deputy. When the bids were received, before they would be considered by the board, whether to accept or reject, we started asking, on the basis that we had a recommendation from Lazard that the best all-round bid, in commercial terms, was Cerberus. We decided that we needed to get confirmation from Cerberus on whether there were any fees payable to third parties and whether they were acting within all appropriate laws.