Henri Crohas doesn’ t fear a takeover bid
lundi 21/03/2011 par
Henri Crohas doesn’ t fear a takeover bid .
If Henri Crohas didn’t reveal any sensational informations about the next gen during his interview on europe 1 he spoke a lot about the financial situation of archos. In fact at the end of the interview Luc Evrard asked Henri Crohas about a takeover bid possibility. In the past Henri Crohas used to have a majority of part in the capital of his society but recently he saw his part of stock option decrease after the several increase in capital. Today he only owns 15% of his society without any majority shareholder to support him.
The interview between Henri Crohas and Luc Evrard is quite eloquentÂ :
LEÂ : Your capital is opened. Don’t you know that now that your society is sane you’ re falling prey to others.
H.CÂ : I know it...
L.EÂ : Do you worry about itÂ ?
H.CÂ : Absolutely not. You know when societies are in bad health nobody wants it so they are cheap.
When societies are in good health prices grow a lot, they become very costly and it becomes much harder to purchase them. It’ s true today I possess about 15% of Archos.The main shareholder Echostar left us. Actually except me there are no shareholders who own more than 2% of the capital. As a result the capital is massively opened and dispersed. As you can see that’s a very liquid stock and if there is a takeover bid my god why not.
L.EÂ : So you’re prepared to anythingÂ ?
H.CÂ : Absolutely...
L.EÂ : If it can facilitate the life and the growth of the compagny...
H.CÂ : Moreover the hostile takeover bid are very tough for medium-sized enterprises like us.
L.E : With many skilled employees who can leave Archos if the takeover bid is hostile...
H.CÂ : One thing is certain I don’t worry about a takeover bid.
The fact that Henry Crohas changed his attitude when he talks about a (forced or not) possible alliance is revealing.
A few years ago any possibility of alliance was systematically rejected.
But everyone knows that Henri Crohas needs to find cash in order to make sure that the compagny will continue to grow.
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