Strange time for Nexon's Korean founder to dump his 99% stockholding?
While the market is crashing...? In US, in China, pretty much everywhere?
And he still thinks he's gonna get $10bn...?
Seriously...???
What does he know that nobody else does...?
This story looks like something the ibanks leading the sale have dictated word for word.
It's what they'd like to happen. In reality, not gonna work out that way...
Usually, 'quiet conversations' have already been had with the big buyers... and it doesn't seem that they're interested at this price...
Sales of billion dollar companies mean ibankers overpromising the next buyer what the company can achieve (to get them to bid more than they want to).
Then armies of strategy consultants to figure out how to deliver the impossible (usually by cutting costs).
Not happy times.
So, no, not great for BHG. The BHG team who created Dom need investment and stability.
Always remember these guys have homes, families, mortgages to pay.
Corporate BS monkeys will thrive if they're lucky.
But the smart creatives will already be networking for the next move.
Just in case...
Best case, somebody smart buys BHG as a spin out. It's the only way Dom will see investment now.
Worst case, the guy who owns 99% of Nexon, wants to sell up. So don't expect big investment in anything.
Space age, by oh, 2099... maybe...?