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Wednesday, July 12, 2006

Folio: Penton For Sale 

Tony Silber and Matt Kinsman report that Penton is looking at a possible sale of the company, having retained Credit Suisse Securities.

Tony and Matt have a detailed look at how common shareholders will be "compensated" if a sale occurs. It looks predictably grim.

Grab:

A special independent committee of the board was appointed to represent the common shareholders. None of the three committee members, interestingly, own any common shares of stock.

Great reporting from Folio:, as usual.

Here's the Penton press release.

My previous takes on Penton's valuation can be found here:

Valuing Penton

Penton's 2005 Results

And Rafat Ali's reporting, here.

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