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Seems like this is a pre-pack sale that got the timing wrong, which would be fine usually but this was an acquisition by a listed firm so there are listed business rules (at least in terms of public information) that may have been breached.

It will be interesting to see how this plays out in the coming months as the pre-pack sale of an otherwise profitable firm does seem curious. I wonder what the debt levels were like in December and which creditors may lose out from this.