all this is public info, so hopefully it doesn't get removed/censored.
if anyone wants to know what's going on, just look through all the SEC 8-k filings. it's available on rezi's own investor site as well as from the sec.
what's interesting is this whole snap one deal. here are some facts:
the deal was worth around $1.4 billion
of the $1.4b, $500m was from CD&R, $600m from senior unsecured notes
snap one was NEVER profitable since going public
now CD&R has two people on the board
CFO swap happened couple of weeks ago
is anyone wondering why the company essentially borrowed $1.1b to buy a company that was never profitable? and why there was huge rush to close and now a huge rush to integrate them? first alert was a $600m+ buy, closed in about 6 months, took a year to integrate. but at least fa was profitable and is still profitable, actually accounts for a good percentage of the profit for p&s. it'd be curious to see q3 results and if snap one is helping or hurting profitability, and/or margins.
then look at CD&R. why is there a private equity firm involved? the $500m got them 2 board seats, rights to sell the preferred stocks at up to 24.5m shares. not sure exactly how many shares they got, but at time of announcement the $500m came out to be about almost 19m shares, pretty much on par or more than blackrock, one of the largest shareholders. then, recently rezi filed a sec form asking to shield whatever info is available about CD&R from freedom of information act. what's there to hide about CD&R's involvement?
what's next???