Looks like Elliot is getting a jump on other debt holders to be the largest stake holder in taking over WIN post bankruptcy.
https://seekingalpha.com/news/3532607-elliott-boosts-position-in-windstream-first-lien-debt-bloomberg
read the comments
9 replies (most recent on top)
I’d hope Elliott would keep their two ailing companies separate until each was stabilized and out of the ICU. A merger of 2 troubled companies would just complicate turnaround efforts at each.
In their letter to AT&T’s board last year, they criticized the companies for getting so into mergers and acquisitions that they distracted management from executing on fundamentals.
The creditors with Elliot leading will take over both FTR and WIN
not the current executive team. They will be the 1st to go along with the current board.
Layoffs WILL be epic regardless - Can you say B-A-N-K-R-U-P-T-C-Y ?
See dictionary.com -
Words related to bankrupt
insolvent, destitute, broke, failed, lacking, lost, exhausted, spent, ruined, impoverished
Funny how ALL those apply to Windstream.
LOL - Glad I am out of there. Get your heads out of the sand and do the same.
"The layoffs would be epic should they merge frontier and windstream."
The investors would laugh so hard. Two clueless executive teams combined into.....??
Meanwhile the s—ing sound of money and morale being drained from this company grows louder....
The layoffs would be epic should they merge frontier and windstream.
"Elliott has a big stake in Frontier, too:"
That's because they have also filed chapter 11.
Elliot is going to clean up assets and spin them into one entity this summer.
WINtier Communications or front stream communications? Hmmm....either way it's going to be a blood bath between the 2.
https://www.bloomberg.com/news/articles/2020-01-16/frontier-said-to-tell-creditors-it-seeks-a-mid-march-bankruptcy
Interesting — Elliott has a big stake in Frontier, too:
https://www.fiercetelecom.com/telecom/frontier-ceo-mccarthy-steps-down-han-named-as-new-ceo
Whatever happens.....happens.
Lil T is planning his parachute funded exile come May. Big Tex and Colorado boys are signing up for rent a center applications come June. Time Share executives will become bnc salesman at scte booth. The worker bees will be cut deep.