D&M Holdings Explores Purchase of SonicBlue

TOYKO--Fresh off its acquistion of New York-based high-end audio manufacturer McIntosh Laboratories, D&M Holdings, the parent company of Denon, Ltd. and Marantz Japan, Inc., has entered into discussions with SonicBlue Incorporated to acquire its personal video recorder (PVR) and mp3 business units.

D&M has made a non-binding acquistion proposal of $40 million, less up to $5 million of specific liabilities, which D&M will determine, and that those liabilities will be subject to future adjustments. According to a press release from D&M Holdings, SonicBlue is expecting to sell its existing businesses in bankruptcy hearings governed by the United States judicial system, and it intends seek approval from the bankruptcy court to ratify D&M's acquistion.

Hmm. Somehow this news seems to be a bit behind the times. Another thread I saw today reported that this very deal fell through.

I may be reiterating something that's been said in other threads, but the article I read said that D&M were still interested, but couldn't get it together in time for the direct sale. Now they'll have to deal with an auction instead. This may mean that they wanted it for a lesser price than SonicBlue was offering it for pre-auction, or it may just mean that they didn't have enough time.

IANACPA.

Ah, I must have misunderstood, then.

It would be cool if that happened....I have two McIntosh 400 watt amps in my trunk.

but couldn't get it together in time for the direct sale.

Recently, I was involved in a purchase from a public company. There was a company that had an exclusive right to purchase some assets for a period of time. A brokerage firm then told the company selling that they should let that right expire and put it out for bids. There is apparently a lot of scrutiny of these sales by stockholder groups to ensure maximum value for the assets. The directors are being held personally accountable by the stockholder groups and can be sued if they don't get bids. When I saw the sale fall through, I wondered if that might have been behind it.

The auction is a statutory undertaking which is organised by the bankruptcy court. SB have no say in the matter.

Rob

The auction is a statutory undertaking which is organised by the bankruptcy court.

The company we looked at buying was not in bankruptcy but I should have known that. Obviously, after filing Chapter 11, the court would have jurisdiction. Heck, it even says so in the March 21, 2003 press release. Regardless, Good Luck with the fall out.

Somehow this news seems to be a bit behind the times. Another thread I saw today reported that this very deal fell through

Of course, even that thread was preceeded by this one, which is indeed a link to the same article. There's your vindication, Tony