The dread day dawns. Earlier this week I go to work to find the one thing everyone dreads has happened, our chunk of the company has been put up for sale.
The management will take offers for the whole enchilada or whatever bits buyers fancy. They’ll take bids from trade buyers, management buyouts and the private equity people.
After writing for years about companies hiving off business units, and wondering how the people feel, now I know, it feels terrible.
Those around retirement age are on the phone to the pensions people wondering what’s going to happen to them
The mid-life guys are polishing up their CVs, expecting a tougher time under a new owner.
The youngsters, unsullied by the effects of professional dislocation, are largely unworried.
The newswires are full of the fact that private equity funds are queuing up to bid.
Uncertainty, that corrosive spectre, rears its ugly head.
Hi David
Hope things work out, although it's done wonders for the share price.
Rich
David,
I've very much enjoyed reading your articles in EW over the years and more recently the 'Mannerisms' blog. It would be a great shame if there was no independent analysis of electronics news in the UK. Hope that everything works out and this is just a temporary setback.
All the best,
Keith
Thanks Rich, Yes the share price going up is always a bit like having your nose rubbed in it after you've had the punch in the stomach
David
Thanks Keith, that's very kind and much appreciated.
Hopefully things will continue as before under whoever buys us.
Best wishes
David
Hi David,
Been there, seen it, left it. That's how I summarize the buyout of the press group publishing the newspaper I worked for over the last 20+ years ... by a "shark" !
Whoever buys you, I truly hope it won't be the same as it did to us, with a dislocation of the company and a demotivation of the people.
All the best
Elisabeth