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.

[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.