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  Not looking good for eToys...
 
Trade press is reporting that eToys has said they are going to run out of cash sometime in March or so barring another funding round or a white knight. And with Amazon allying with TRU on the toy front, there's not too much hope of a ecommerce white (...) (24 years ago, 30-Dec-00, to lugnet.market.shopping) ! 
 
  Re: Not looking good for eToys...
 
(...) Actually I suspect that a conventional retailer or white knight could NOT buy eToys. Under Section 203 of the Delaware General Corporation Law they are forbidden to engage in a business combination with an interested stockholder for a period (...) (24 years ago, 30-Dec-00, to lugnet.market.shopping)
 
  Re: Not looking good for eToys...
 
(...) That's a hostile takeover defense and Delaware law is friendly to corporations so I doubt this would apply to a friendly (white knight) takeover... Consult your M&A guy if you're thinking of buying them, don't take MY advice... ++Lar (24 years ago, 31-Dec-00, to lugnet.market.shopping)
 
  Re: Not looking good for eToys...
 
(...) Here is an associated snipper from one of eToys legal filings: "IT MAY BE DIFFICULT FOR A THIRD PARTY TO ACQUIRE US EVEN IF DOING SO WOULD BE BENEFICIAL TO OUR SECURITYHOLDERS. Provisions of our amended and restated certificate of (...) (24 years ago, 31-Dec-00, to lugnet.market.shopping)
 
  Re: Not looking good for eToys...
 
(...) you're quoting from is bluesky boilerplate that is in hundreds of 10Ks and 8Ks... means nothing. Of course a hostile takeover may be beneficial to security holders. Almost any takeover is beneficial to stockholders, especially when we're (...) (24 years ago, 31-Dec-00, to lugnet.market.shopping)

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