How can we prevent this buyout from occurring? I doubt the banks want to go through with it as they are going to take a bath. If deal is dead then so is Tom Krause!!! That’s the funny part.
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It’s going through. Citrix filed the 8-k form on August 29, triggering the TIBCO layoffs:
https://www.sec.gov/Archives/edgar/data/0000877890/000119312522232797/d400621d8k.htm
“As previously disclosed, on January 31, 2022, Citrix Systems, Inc., a Delaware corporation (the “Company”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Picard Parent, Inc., a Delaware corporation (“Parent”), Picard Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“Merger Sub”), and, for certain limited purposes detailed in the Merger Agreement, TIBCO Software, Inc., a Delaware corporation, pursuant to which Merger Sub will merge with and into the Company (the “Merger”), with the Company surviving the Merger as a wholly-owned subsidiary of Parent.”
You're going to lose your job no matter what. Citrix is finished. Just go find a new job and don't worry what happens here.
Don’t count your chickens before they hatch. A wise man once told me.
It has to go through. I want my redundancy package now. And yes, I am looking for another job as we speak.
Sure they would have different ceos. Usually the ceo is replaced every 1-2 years at Citrix.
The deal is not falling through. Don't be ridiculous. Vista's one purpose in life is literally equity. One way or another, the deal is happening. What do you think - everyone's going to change their minds and hire new CEOs for Citrix and TIBCO like nothing ever happened? There are going to be a lot of layoffs no matter what happens. That is the reality.
The deal most likely already fell through due to financing problems.
Tom only has a 2 year contract , he is there to split it up .
It would be a disaster if the deal fell through for the existing employees.
They are probably just going to sell the business units eventually. There won't be a company. If Vista wants to get out of the software business, this is the way to do it. make as much money as possible chopping it up and getting rid of the pieces. Krause is not a software CEO. He's a financial one. Vista couldn't care less about the products.
That's what I was going to say plenty of folks already been let go from both Tibco and Citrix to make this a reality, there's no going back. New company will be a failure as there won't be job security.
You can't stop it. The old CEOs are gone, anyway, along with a number of executives. You can't go back. And, the more people who are fired, the better the projected bottom line looks. They are probably figuring out just how many (or how few!) employees are really needed to keep the revenue streams coming in.