вторник, 8 января 2008 г.

Is CNET about to be taken over?



 


According to New York Times, a consortium of CNET investors, led by large investment funds such as Jana Partners, are seeking to take over CNET’s board of directors. The consortium has a 21% stake in CNET’s ownership, and they’ve sent a letter with their plan to the CNET board approximately two weeks ago, but CNET has been silent so far, supposedly preparing to put up a fight against this initiative.


Although CNET hasn’t commented on the proposal directly, they’ve issued a statement on Saturday, claiming that the company has “made significant strategic, financial, personnel and operational progress.” However, Wall Street analysts don’t seem to agree: their almost uniform prediction is that CNET shares will slump, continuing the trend that has been going on for the last three years, in which the shares have lost 19% of their value.


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