Freescale's Privates

[errantember]

It's now official. There's all kinds of "Pending other offers" and "must be approved by the FEC" bullshit involved, but unless something really wiggy happens, Freescale is being purchased in a leveraged buyout by private investors. I've already cleaned up pretty thorougly on my stock options that jumped 20% in the last few days, it will be interesting to see if they offer us anything for our un-vested ones. The bad news is companies aquired in leveraged buyouts take on a huge amount of debt to do so, which means one of the first things the new managed does is cut costs.

Costs like me.

Comments

[serenity-rose7.livejournal.com]

maybe I should be glad that I didn't stay on there....hrmmmmm

Suckage

[burning-tree.livejournal.com]

Is it a definate thing? Sorry I haven't called you back. I'll try you tomorrow if you're not busy.

Re: Suckage

[errantember.livejournal.com]

I'm still employed, just concerned. And in a substantially better financial position than a few days ago.

Anytime from noon 'till evening I should be near the phone.

[unwiredben.livejournal.com]

Do you know what happens to existing Freescale shares? I've still got a bunch from the ESOP when I was there that I've never sold -- I think they usually are required to be tendered for cash in this kind of deal.

I'll look more on the web to see what's happened.

Sharage

[errantember.livejournal.com]

I sold all my vested shared at 37 when the announcement was still pending, but I'm wondering the same thing about my unvested shares. They obviously can't continue to exist in their current state, but since they aren't vested I don't know that we'll get full value. For vested shares I'm fairly certain you'll get the $40 buy-out price.