http://dealbreaker.com/2008/04/someone-is-gunning-for-circuit-buster/ Wall Street Insider – Financial News, Headlines, Commentary and Analysis - Hedge Funds, Private Equity, Banks Fri, 10 Feb 2012 19:50:52 +0000 hourly 1 http://wordpress.org/?v=3.0.5 http://dealbreaker.com/2008/04/someone-is-gunning-for-circuit-buster/comment-page-1/#comment-226659 guest Tue, 29 Apr 2008 21:41:22 +0000 http://wp.dealbreaker.com/2008/04/someone-is-gunning-for-circuit-buster/#comment-226659 Is there a way to get the SEC "latest filing" RSS feed to only pick up 13Ds? Or is there something else out there that will do this? Is there a way to get the SEC “latest filing” RSS feed to only pick up 13Ds? Or is there something else out there that will do this?

]]> http://dealbreaker.com/2008/04/someone-is-gunning-for-circuit-buster/comment-page-1/#comment-226658 merkin capital partners Tue, 29 Apr 2008 19:59:07 +0000 http://wp.dealbreaker.com/2008/04/someone-is-gunning-for-circuit-buster/#comment-226658 hey, they're one floor down. hey, they’re one floor down.

]]> http://dealbreaker.com/2008/04/someone-is-gunning-for-circuit-buster/comment-page-1/#comment-226657 Pro_Forma Tue, 29 Apr 2008 18:08:23 +0000 http://wp.dealbreaker.com/2008/04/someone-is-gunning-for-circuit-buster/#comment-226657 Agree with EP. The synergy value will most likely come from discontinueing a large chunk of the stores for both chains. Should be plenty of excess OH on each side at the corporate level as well, and at least a few redundant assets (e.g., distribution centers). End of the day, you're still just tying together a couple of rocks in hope that the combination will float. Agree with EP. The synergy value will most likely come from discontinueing a large chunk of the stores for both chains. Should be plenty of excess OH on each side at the corporate level as well, and at least a few redundant assets (e.g., distribution centers).
End of the day, you’re still just tying together a couple of rocks in hope that the combination will float.

]]> http://dealbreaker.com/2008/04/someone-is-gunning-for-circuit-buster/comment-page-1/#comment-226656 ep Tue, 29 Apr 2008 16:11:02 +0000 http://wp.dealbreaker.com/2008/04/someone-is-gunning-for-circuit-buster/#comment-226656 "One has to wonder where the hell these $300m are going to come from. It's certainly not from eliminating redundant operations (there aren't any), or marketing synergies (different businesses with different adevertising needs), or, well, anything else I can come up with." They will, I suspect, move smaller square footage Blockbuster stores into Circuit City "big boxes." Blockbuster spends $1.5 billion on stores. Ouch. “One has to wonder where the hell these $300m are going to come from. It’s certainly not from eliminating redundant operations (there aren’t any), or marketing synergies (different businesses with different adevertising needs), or, well, anything else I can come up with.”
They will, I suspect, move smaller square footage Blockbuster stores into Circuit City “big boxes.” Blockbuster spends $1.5 billion on stores. Ouch.

]]> http://dealbreaker.com/2008/04/someone-is-gunning-for-circuit-buster/comment-page-1/#comment-226655 guest Tue, 29 Apr 2008 16:03:07 +0000 http://wp.dealbreaker.com/2008/04/someone-is-gunning-for-circuit-buster/#comment-226655 Buffett don't like ebitda because it don't take into consideration cost of capital. Buffett...he likes him some billions. Buffett don’t like ebitda because it don’t take into consideration cost of capital. Buffett…he likes him some billions.

]]> http://dealbreaker.com/2008/04/someone-is-gunning-for-circuit-buster/comment-page-1/#comment-226654 onetwo Tue, 29 Apr 2008 16:02:20 +0000 http://wp.dealbreaker.com/2008/04/someone-is-gunning-for-circuit-buster/#comment-226654 Missed you, EP. I am also always stunned by the game M&A concerns play with fake 'synergies'. Note their comment: "We believe that over $300 million per year in increased EBITDA could be realized following an acquisition by maximizing cost savings between Circuit City and Blockbuster;" One has to wonder where the hell these $300m are going to come from. It's certainly not from eliminating redundant operations (there aren't any), or marketing synergies (different businesses with different adevertising needs), or, well, anything else I can come up with. c'est la vie Missed you, EP.
I am also always stunned by the game M&A concerns play with fake ‘synergies’. Note their comment: “We believe that over $300 million per year in increased EBITDA could be realized following an acquisition by maximizing cost savings between Circuit City and Blockbuster;”
One has to wonder where the hell these $300m are going to come from. It’s certainly not from eliminating redundant operations (there aren’t any), or marketing synergies (different businesses with different adevertising needs), or, well, anything else I can come up with.
c’est la vie

]]> http://dealbreaker.com/2008/04/someone-is-gunning-for-circuit-buster/comment-page-1/#comment-226653 Anal_yst Tue, 29 Apr 2008 14:58:00 +0000 http://wp.dealbreaker.com/2008/04/someone-is-gunning-for-circuit-buster/#comment-226653 when all else fails... when all else fails…

]]> http://dealbreaker.com/2008/04/someone-is-gunning-for-circuit-buster/comment-page-1/#comment-226652 guest Tue, 29 Apr 2008 14:23:54 +0000 http://wp.dealbreaker.com/2008/04/someone-is-gunning-for-circuit-buster/#comment-226652 Yay! You're back! Yay! You’re back!

]]> http://dealbreaker.com/2008/04/someone-is-gunning-for-circuit-buster/comment-page-1/#comment-226651 guest Tue, 29 Apr 2008 13:58:38 +0000 http://wp.dealbreaker.com/2008/04/someone-is-gunning-for-circuit-buster/#comment-226651 so what if ebitda will be better - it's still a 'doesn't make sense' deal. circuit city will end up buying them out of the bid with a "fee" of 25 to 50mm. this is typical icahn game. so what if ebitda will be better – it’s still a ‘doesn’t make sense’ deal. circuit city will end up buying them out of the bid with a “fee” of 25 to 50mm. this is typical icahn game.

]]>