Or “it’s a done deal”, go read this thread.
https://www.thelayoff.com/t/1iPQPnrb
This will be great to watch from a distance. Like watching an early morning building demolition.
Good luck to all who are inside this demo
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The deal was perfect.
The financing was completed. Deal is done.
https://www.thelayoff.com/t/1iRPRqoO
"Could those in charge of the deal be fired? "
Wasn't this whole thing Vista's idea?
Get your resume ready. With costs like that a major downsizing is coming.
Sorry for those who were 'chosen' to stay behind and not cut yet. Speaking as a TIBCO employee laid off.
The disastrous debt deal will hurt the bottom line for Elliot and Vista. Will they lose jobs too for engineering a deal that could lose them money? Could those in charge of the deal be fired?
Deal done. Banks lost $700M on the debt. They will look for a way to make that up with Elliott and Vista.
Elliott needed to do a last minute dive and catch to buy $1B of the debt itself. All of this does not affect the day to day but will make it more difficult to sell off the pieces. Therefore, the pieces will need to be sold faster and likely with more cash flow generation (read, less opex and therefore people).
Today's 8-K indicating Sept 30 close. Then the action begins!
The deal is definitely happening. About half of the debt funding the deal has already been sold to investors. Also, all regulatory approvals have been obtained based on the 8K filing in early September. As a result, the deal is happening at the agreed price. No backing down. Otherwise, the banks funding the deal would have been able to find a way to avoid the $700 million in losses that they incurred selling the bonds at a steep discount. Moreover, Elliott bought $1 billion worth of debt this week thereby signaling that the deal at its current price is happening.
I agree with vzw+1iQdCax3. I expect the SF BU to be spun off within Q4. This spin off is going to be performed in the style of hurriedly cutting off an arm that was just bit by a zombie. There will be some arteries cut; I am sure. Leadership will then have to operate a freshly ruined Citibicorx that is bleeding, haggard, and a new level of freshly infected from within.
Yeah, not sure what you are talking about. The sale is absolutely a done deal. Banks are going to loose a couple hundred million. Newcorp or whatever is going to have even harder debt load to operate under, which likely means deeper cuts for those that decide to stay, or maybe spinning off other BU's earlier then they wanted, but the deal itself is done and over with.
It is a done deal. $104 a share. That hasn't changed regardless of some losses on some of the debt. That's all on the back-end financers, not Citrix. That's why the stock closed at $103.75 today.
Yep great analogy. Sad for those left behind abs decide to stay
Id consider finding another job but double dip off Citrix until they lay me off.