Just in: Advisers in ValueAct-Catalina Marketing
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Catalina Marketing, a maker of point-of-sale coupon printers, tapped Jeff Sloan and Greg Mitsch of Goldman Sachs, as well as Ken Jacobs, Douglas Taylor and David Descoteaux of Lazard, for financial advice in its $1.7 billion sale to ValueAct Capital. Barry Brooks, Michael Chernick, Joseph Opich, Kevin Logue, Michael Zuppone and Mark Poerio of Paul, Hastings, Janofsky & Walker provided legal advice.
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ValueAct hired Bart Winokur, Christopher Karras and Stephen Leitzell of Dechert LLP for legal advice.
UBS and Lehman Brothers provided financial advice to the buyer.
Full coverage coming soon in The Daily Deal and The Deal.com.
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Why does management support this leveraged deal instead of leveraging the public company through a large stock buyback, as recommended by the JP Morgan analyst on the last conf call -- and summarily rejected by management?
clearly board/mgmt is happy to ring the register and shrink the cap structure so they can share the upside among themselves!