MBOs

  • Not sure how they chose which to be solid & which to be dotted other than, like, the ones that look bad got dotted lines.

    M&A

    Dell’s Board Was So Fed Up With Its Managers That It Sold Them The Company

    I learned a new word, or word-like sequence of letters, reading the Dell merger proxy this weekend. The word is “must-believe,” and it’s a noun meaning a thing you must believe in order to embark on a certain course of action. You don’t have to believe a must-believe, but if you don’t believe it you […]

    / Apr 1, 2013 at 1:56 PM
  • What can I say, I like Dell

    M&A

    Michael Dell Wanted To Escape Public Markets’ Short-Term-ism For About 45 Days

    Two ideas at the heart of modern financial economics are the efficient markets hypothesis, which says that investing doesn’t work, and the Modigliani-Miller theorem, which says that corporate finance doesn’t work.1 Also there is a financial industry which is pretty much organized around ignoring those ideas. Hahaha how stupid of David Einhorn to think that […]

    / Mar 27, 2013 at 3:57 PM
  • Sometimes to mix it up I like to talk in front of a giant blue hand

    M&A

    One Shareholder Won’t Let Dell Go Without Putting Up A Fight

    Today Southeastern Asset Management, which is Dell’s biggest shareholder that doesn’t share a name with it, expressed its displeasure with the company’s $13.65-a-share LBO today in the form of a letter to the board patiently explaining that: Dell is worth $23.72 a share, and Dell could pay $11.86 a share in cash in the form […]

    / Feb 8, 2013 at 5:07 PM
  • I also prefer to talk with my last name displayed behind me in giant letters

    M&A

    Some Dell Shareholders Don’t Know Much About This LBO, But They Know They Don’t Like It

    The Dell deal documents are out and they are short of juicy details; we’ll have to wait for the proxy for details on things like just how much of a discount Michael Dell is taking on his shares or what exactly the terms of Microsoft’s loan are. There is, though, the information that that loan […]

    / Feb 6, 2013 at 7:00 PM

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