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RE: RE: Trading Partner Ideas
I always cringe when I see a leveraged buyout or buyout of a company and the
first thing in their press release is blather about "opportunities" with
their associates and partners. To me that has always meant that the newly
purchased company will be looking for ways to charge everyone for the costs
of their purchase.
I was there when this happened when Sperry was bought by Burroughs and then
dismembered for funds for to keep Burroughs afloat, then the rest of the
carcass.
I'm speaking for myself.
Dan
-----Original Message-----
From: Allen Hoffman
We are good predictors of the future.
Linens 'n Things has agreed to be acquired in a $1.3 billion deal that will
take the chain private. The home-furnishings retailer, which has been
struggling with stiff competition from discounters and specialty chains,
will be acquired by a newly formed company controlled by Apollo Management.
Under the terms of the agreement, Linens 'n Things stockholders are to
receive $28 per share in cash.
Apollo is investing in our concept, our company and our future, which will
lead to additional new opportunities for all our associates and our business
partners, said Norman Axelrod, chairman and CEO, Linens 'n Things.
Source: RetailNet <http://www.retailnet.com/story.cfm?ID=25112>
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