Should The Dolans Try Another Cablevision (CVC) Buyout?
Last fall, Cablevision shareholders rejected the Dolan's family offer to take the company private at $36.26 a share. Now the stock CVC is down nearly 40%, trading around $23.
Will Cablevision investors ever get the chance to cash out again? Possibly. Pali Capital's Rich Greenfield (reg. required) thinks the Dolans could justify a $30 a share buyout offer and take on $5 billion in debt in the transaction. Rich argues that the Dolans could handle the debt, given that the company seems to competing well against Verizon's incursion into its territory, and should have plenty of free cash flow over the next few years; Rich also suggests the company could finally sell off its Rainbow cable networks.
Investors seem to be excited about the idea. CVC shares traded more than 8% higher in Tuesday trading.
See Also: Comcast Shareholders Blame CEO Roberts For Their Bad Investment
Bernstein: Cablevision Not Dead! CVC To $100 By 2011
Will Cablevision investors ever get the chance to cash out again? Possibly. Pali Capital's Rich Greenfield (reg. required) thinks the Dolans could justify a $30 a share buyout offer and take on $5 billion in debt in the transaction. Rich argues that the Dolans could handle the debt, given that the company seems to competing well against Verizon's incursion into its territory, and should have plenty of free cash flow over the next few years; Rich also suggests the company could finally sell off its Rainbow cable networks.
Investors seem to be excited about the idea. CVC shares traded more than 8% higher in Tuesday trading.
See Also: Comcast Shareholders Blame CEO Roberts For Their Bad Investment
Bernstein: Cablevision Not Dead! CVC To $100 By 2011
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