I’ve posted about J.Crew’s takeover by TPG (a private equity firm). J. Crew’s CEO has stayed on, and is now crowing about how happy he is that he took J. Crew private. Not coincidentally, J. Crew’s CEO (who almost certainly has an interest in the new company) announced J. Crew’s expansion into China.
So, right after shareholders voted to sell the company at a certain value, the CEO announces that the company is going to become a lot more valuable. This is why deals need to be challenged.
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