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Posted By Barry Ritholtz On February 11, 2004 @ 8:38 am In Finance | Comments Disabled
Comcast announces a $66 Billion dollar hostile bid for Disney.
This raises several interesting issues:
1) A takeover would resolve the Eisner succession issue — Comcast would immediately start grooming a replacement — unless they already have someone in mind;
2) A new round of negotiations might start with Pixar. I believe the loss of Pixar is devastating to Disney, and needs to be “undone;”
3) The minor premium — less than 10% — shows what happens when management stops paying attention to shareholder value;
4) The size of the bid — $66 Billion dollars! — suggests that all but the largest companies are potential takeover candidates. But for GE, Pfizer, Microsoft, Exxon, Cisco, etc., practically anyone can be scooped up (assuming you have no aversion to debt).
Comcast bids $66 bln to buy Disney 
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2004/02/disney-takeover/
URLs in this post:
 Image: http://www.comcast.com
 Image: http://www.disney.com
 these: http://bigpicture.typepad.com/comments/2004/01/pixar_to_disney.html
 Disney: http://bigpicture.typepad.com/comments/2003/12/jobs_to_become_.html
 posts: http://bigpicture.typepad.com/comments/2004/02/building_a_digi.html
 lately: http://bigpicture.typepad.com/comments/2004/02/barrons_picks_u.html
 Comcast bids $66 bln to buy Disney: http://cbs.marketwatch.com/news/story.asp?guid=%7B93CBD934%2DD261%2D4B95%2D9551%2DB1D64DD696C9%7D&siteid=mktw
 Comcast Wants Disney for $54 Billion: http://story.news.yahoo.com/news?tmpl=story&cid=568&e=4&u=/nm/20040211/bs_nm/media_disney_dc
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