[Ipg-smz] Asymmetrical Mergers

[Dan Rosenbaum]

Ah. You didn’t ask about tech. Yeah, most tech mergers use funny money stock valuations, not the (generally non-existent) reserves of the target company.

 

d

 

 

From: Ipg-smz <ipg-smz-bounces at netpress.org> on behalf of "Perlow, Jason via Ipg-smz" <ipg-smz at netpress.org>
Reply-To: <ipg-smz at netpress.org>
Date: Tuesday, October 22, 2019 at 4:16 PM
To: IPG List <ipg-smz at netpress.org>
Cc: Jason Perlow <jperlow at gmail.com>
Subject: Re: [Ipg-smz] Asymmetrical Mergers

 

But an LBO has never occurred like that in tech, has it?

 

On Tue, Oct 22, 2019 at 3:42 PM Dan Rosenbaum via Ipg-smz <ipg-smz at netpress.org> wrote:

It sounds to me like you’re describing a classic leveraged buyout, where a smaller company uses a bigger company’s assets or cash to buy it. The classic case was RJR Nabisco.

 

d

 

From: Ipg-smz <ipg-smz-bounces at netpress.org> on behalf of "Perlow, Jason via Ipg-smz" <ipg-smz at netpress.org>
Reply-To: <ipg-smz at netpress.org>
Date: Tuesday, October 22, 2019 at 3:28 PM
To: IPG List <ipg-smz at netpress.org>
Cc: Jason Perlow <jperlow at gmail.com>
Subject: [Ipg-smz] Asymmetrical Mergers

 

Does anyone know, historically, of a merger between two companies where the valuation was highly asymmetrical? Such as when you might have a company that is worth $1000B, but wants to merge with a company that is worth $100B? They don't have the assets to buy it outright, but it would be a beneficial marriage.

 

I am going by this list and I cannot find any that are comparable.

 

 

https://en.wikipedia.org/wiki/List_of_largest_mergers_and_acquisitions

 

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JASON PERLOW

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JASON PERLOW

Sr. Technology Editor, ZDNet

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