Oct. 9 - Richard Beales and Breakingviews columnists discuss the recent IPO of rave concert promoter SFX Entertainment and a rejected takeover offer by Jos. A. Bank for Men’s Wearhouse.
They're breaking news again to a raven a cheap seat to. Different deals -- slightly wacky first. Broke talks have been looking at best epic since its name and even today when they filed for netherlands' on price does. This is one of the curious that the stock. Right it's say it's roll up basically it's a company and its basically promised about by all these promoters in the EM business is the electronic dance music like. -- -- Super hot it was -- a new Yorker about some guy did today it's like school relaxed all these like DJ's drop in the base. And haven't ever -- go out and take Ecstasy anyway -- it huge business so I don't know in the prospectus that it. Oh it is now it is it's one of the risk factors target people glad our concerts. In fact and I appreciate your -- through new York and the priceless let it play. It's thirteen it's already down to about twelve in his that'll come -- with a 1000000000 million bucks they -- two or sixty million dollars 150 million that was are basically. Earmarked to buy up companies -- names like. Disco -- productions and B port. This is status but the thing that they really think that you kind of look at this and go okay. It's really hot area we don't know -- gonna -- it's very fragmented and it's grown like everything was and the guys doing as losing money. It's Roberts elements guy whose basic bought -- concert promoters sold for like three billion dollars care for exactly how much to live -- that management has again it's possible you know yeah why not. But right now most of them. Right now psyched out about five or 6%. But it let's have a a quick look at the the other deal with cheap suit and took me about. This is typically banks to an event and it's made its way to basically decided to make the unsolicited offer for company got twice as -- is that right. It's just not. And that's the kind of hard to pull off does that mean he's right and -- and cash and yet there's casually talk and sit there they're gonna have to. Get a lot of debt they've got a private equity backers instinct putting up to twenty partners and run the company. Which some backing promised both these retailers are doing really poorly. And if you -- more debt on it it's just not gonna do very well. -- -- and they they can. Sticks out costs for in this thing I mean -- you know the idea that I know I know that they didn't say what the synergies would be. But the idea -- You go to the same cheap suit makers are good saying yet have distributors. Eventually you procurement -- it close you know any place for the electric crisis creating the other and later at a series course generally when you when you put out the first time it can also offer you don't you don't actually suits their needs to thank you -- -- Actually -- it's worth a lot more thought well agreement probably they wanna look at the books and read yet and I both -- like rocketing. But both fares are up which implies that investors think some sort of deals happening. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- We do particularly that -- -- -- the next often settled at but come out of this will leave that to today we'll have more breaking news for you tomorrow.