How long until ADM is sold off? Is there a definite buyer? Will the potential sale include employees or are they likely to get laid off before the sale?
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Will be announced at SKO
There is no imminent buyer at this time. Rumor has it that there were options in play, but they had a change of heart. ADM is hemorrhaging resources. A sad state of affairs.
Microsoft is now in the mix has been reported
ADM is a done deal expect an announcement in 2 weeks. Most staff will wish they were in ADM as this deal is going to a large player.
@OP,
Re: Employees
Divestitures (ie: carve outs) are all deal specific. In some cases, the buyer will want all the BU's employees initially, to manage both the seller provided inbound TSA services, and stand-up the business on the buyers infrastructure. Once stable some (if not all) will be laid off.
In other cases the buyer will outline which employees they want to bring over (usually outlined in the deal docs by both employee name and dept, function or role). In that case any employees left over at sellers company will usually be let go.
Lastly some deals the buyer will only want the IP. In those cases once the deal is closed, the employees of the divested BU are laid off.
So it's all very deal specific. I have seen all three scenarios.
The thing to be aware of is all buyers (whether VC, PE or currently operating company looking to add to it's product portfolio)...all want the deal to be acreative. Therefore, if you are acquired you are probably at risk if not now, in the near future. I would plan accordingly. Hope this helps.
@je As part of the MF acquisition, we saw a slight uptick for a few months and then OTEX introduced a scorched earth policy that dismantled what they’d purchased and the subsequent introduction of never ending bureaucratic diktats/random changes of tack, often based purely on Mark B’s whim of the day.
The majority of the MF portfolio is now broken beyond repair.
@hb yes but if we continue to not invest in our products or in our employees there is no chance we’ll survive. Agree for the ELT it’s all about for the love of money. But you need to invest money to make money. Opentext is a one way street into a dead end.
Everything is for sale.
The Board isn’t bothered about the employees, they are bothered about their personal financial outcome.
OTEX ain’t a charity.
Depends who buys it, but ultimately only really interested in the install base.
Wait for an announcement next week
Yes and No