4 ms·
Most certainly is private equity. Didn’t read the article? The 4b special dividend that will be issued will go to two PE firms. According to the author’s analy
by addragyn 4y ago
Most certainly is private equity. Didn’t read the article?
The 4b special dividend that will be issued will go to two PE firms. According to the author’s analysis this will strip out the working capital and enrich the PE participants. Likely sending the company and by extension the workers to the debt markets.
I didn’t read the financials but if true this is just shithead financial engineering. :(
- lotsofpulp 4y agoI was wrong to write that the deal is not private equity, it is setup by private equity firms, but it is up to all the other investors to see if they want to go ahead with the deal, hence the need for a shareholder vote. I do not see how the special dividend can legally go to two firms. It would have to go to all shareholders. Cerebrus does own 150M/475M shares = 30% of Albertsons, but for some reason, I do not see Apollo in the list of top shareholders. https://finance.yahoo.com/quote/ACI/holders/ https://finance.yahoo.com/quote/ACI/holders/ But their press release from May 2020 says they bought 17.5% of Albertsons: https://www.apollo.com/media/press-releases/2020/05-20-2020-140452880 https://www.apollo.com/media/press-releases/2020/05-20-2020-...