View unanswered posts | View active topics It is currently Fri Oct 20, 2017 4:24 pm



Reply to topic  [ 1 post ] 
 Fender for sale? 
Author Message
God Of The Sun

Joined: Tue Nov 26, 2002 10:47 pm
Posts: 3069
Post Fender for sale?
Rumors are false:


Fender Musical Instruments, which has made guitars for generations of rock legends, denied media reports on Wednesday that it had hired financial advisors to find a buyer for the company.

The Financial Times, citing people familiar with the situation, said on Wednesday that Goldman Sachs has been hired to sell the legendary guitar company, which could draw bids of up to $500 million.

Reuters later ran a similar story, citing a source close to the situation.

But Fender Chairman and Chief Executive Bill Schultz, who participated in a buyout of the Scottsdale, Arizona-based company by U.S. private equity firm Weston Presidio in 1985, denied those reports in a terse statement released late Wednesday.

"I want to make sure that you hear this straight from me; this article is completely erroneous, and FMIC is not for sale," he said. "From time to time, FMIC conducts a valuation process to determine the current financial state of the company. This is something it has done over the years, and something it will continue to do periodically."

Schultz said the company's current owners remained "intact" and would continue to do so,


Thu Jun 10, 2004 2:21 am
Profile
Display posts from previous:  Sort by  
Reply to topic   [ 1 post ] 

Who is online

Users browsing this forum: No registered users and 2 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group.
Designed by ST Software for PTF.