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Headline: Deal secured after horse trading Source: Euromoney Date: February 2001 Author: Anony Currie Companies: Seagate Technology, Veritas Software, Silver Lake PartnersDeal: synthetic spin-off and leveraged buy-outSize: $20 billion LBODate: November 1999-March 2000
This deal stands as a classic example of how to execute a complex transaction to the near-benefit of all parties. Two companies, a new buy-out firm (Silver Lake), the three big tech banking rivals, who just also happen each to own a small stake in Silver Lake, and a major tax headache as a result of an earlier stock-for-acquisition deal, all had the potential to turn this deal into the biggest mess of the year. | |||||||||||||||||||||||||||||||||||||||||
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