Thursday, May 17, 2007

Going private

Public companies going private have been making the headlines lately thanks, more often than not, to the deep pockets of private equity firms. First Data was aquired by KKR and Sobey's remaining shares outstanding were re-purchased by its majority shareholder, Empire just last month; and Acxiom's announcement that they were being acquired by Silver Lake and ValueAct Capital was made just yesterday.

I found out this morning that our company has joined the fray: We agreed to be acquired by a private equity firm for a handsome premium, which makes sense of all the closed door meetings of late amongst the senior execs.

I knew something was off from the start; I just didn't know what it was - it was too damn quiet. And the seemingly random conversation I had with my SVP last week about the flush of private equity funds available in the market today? Well it ALL MAKES SENSE now!

We've been told that it's BAU: Business As Usual. So we'll see how things play out.

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