Introduction to Wall Street
Professor Knevel
November 4, 2011
while Warner Makes Offer for epic Brother Owner
Time Warner Incorporated has made a unbidden bid of about $1.37 billion to buy Dutch video production company Endemol, harmonise to lot familiar with the matter. The gold put out could spark a bidding war for Endemol, which owns the rights to pragmatism TV shows such as Big Brother and peppy shows equal Deal or No Deal, in time as it tries to restructure $2 billion in debt left wing over from a 2007 buyout controlled by Mediaset SpA of Italy and Goldman Sachs Group Inc. Endemol is closelipped to wrapping up a long period of negotiations with its lenders, including Goldman and princely Bank of Scotland Group PLC.
The restructuring would potential take the form of a debt for equity swap, leaving the lenders with some ownership in the business. ane question facing them is whether they want to cash out via a sale or maintain some equity exposure. A spokesman for Endemol confirmed receipt of the Time Warner offer. He added that Endemol remains focused on the debt negotiations. Our discussion with the lenders continues. Were confident well reach an agreement that lead put us on firm footing.
Lenders holding two-thirds of the companys debt would fall in to approve a sale or a restructuring, according to a person close to the situation. Time Warner will likely face competition. Aside from Mediaset, which may look for a render to help it take control, other big U.S. media companies could transpire as potential bidders, along with private equity firms, say people familiar with the situation. The unsolicited offer from Time Warner is a antiquated move for the media corporation, whose chief executive, Jeff Bewkes, has been cautious about acquirements. While Time Warner has participated in bidding contests in recent years for companies like Metro Goldwyn Mayer Incorporated, it didnt bid aggressively enough to win.
But the Endemol offer reflects an...If you want to get a full essay, order it on our website: Orderessay
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