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School Specialty Inc. Message Board

  • greenshotshut greenshotshut Jan 29, 2013 3:59 AM Flag

    Trial is going to be a fireworks show

    If your name isn't Wells Fargo or Bayside/HIG, you've been badly served by Management.

    It's interesting that there was ~zero discussion re: the circumstances surrounding the May 2012 Financing. Perella Weinberg frames everything about the DIP financing negotiations w/ the various parties purely in the context of October-onward.

    It seems to me that everything boils down to the propriety around the process by which the Company negotiated the May 2012 Financings w/ Bayside. The outrageous terms begin there...

    Sentiment: Strong Buy

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    • fredkeith Jan 29, 2013 9:02 AM Flag

      Are you suggesting a very cheap LBO is in progress? I wonder if the current management will participate in ownership of the newly structured company? BOD a bit exposed as well. I think you're right about fireworks.

      Sentiment: Hold

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