In American Greetings Deal, Echoes of Larger Buyout for Dell
August 8, 2013 Leave a comment
AUGUST 6, 2013, 6:34 PM
In American Greetings Deal, Echoes of Larger Buyout for Dell
This is a tale of two management-led buyouts. The first is the headline-grabbing $24.4 billion bid by Michael S. Dell and the private equity firm Silver Lake Partners to buy the personal computer maker that Mr. Dell founded. The second is the lesser-known $612 million buyout by the Weiss family of the American Greetings Corporation, the greeting card company they control. Both deals illustrate the rising tide of shareholder power, as well as the devilish issues that emerge when management tries to buy a public company. And even though Dell’s board has changed the voting rules, both companies are being tested by shareholders who view the buyouts as undervaluing their companies. Read more of this post
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