Friday, April 29, 2005

Report: McNealy Mulls Taking Sun Private

Report: McNealy Mulls Taking Sun Private: "Scott McNealy is considering a plan that would take his beloved Sun Microsystems (Quote, Chart) off the market at least for a while, according to a report published Thursday.
A hedge-fund manager with ties to McNealy and venture capital firm Silver Lake Partners told Business Week that Sun's CEO and co-founder is talking to investment managers about a leveraged buy-out (LBO). The financial transaction would mean Sun's management would repurchase all public shares and take the company off of the publicly traded markets.
...
The hedge-fund manager told reporters that Sun could take the time to sell off some of its assets, reinvest in its hardware, software and services business, and go public again.
Silver Lake has experience in LBOs, having done the same for storage and hard drive manufacturer Seagate Technology (Quote, Chart) and financial services software vendor SunGard Data Systems."

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.