I could be wrong but I thought that the Swiss did their DD while Lowe was in power. Hence Lowe hung on as long as he could hoping the Swiss would come forward with an offer. For whatever reason things went quiet (probably just studding the figures) so Lowe (with Barclays help) had no choice but to put us into administration. Unfortunately Pinacle beat the Swiss to exclusivity by an hour or two, but when the Pinacle bid fell through it didn’t take as long as it might have done for the Swiss to make an offer, because they have already done their DD.