Friday, May 13, 2022

Blind Item #7

The celebrity CEO is just blowing off steam.  He realizes that he has overpaid for the bird company.  The problem for him, is that his objection is financially immaterial, and he publicly complained about the issue before signing the deal.  The merger agreement allows the bird company to take the celebrity CEO to court, and force him to close the deal.  The only way the celebrity CEO can get out of the deal, would be if the financial books were completely fraudulent at the bird company, which they most certainly are not.  Best case for the celebrity CEO is the bird company knocks a dollar or two per share off the price, to allow everyone to save face.   When the celebrity CEO takes control of the company, he will slash expenses to the bone, and there will be massive layoffs.

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