Dell narrowly avoided buying Brit IT giant 2e2 before the integrator went titsup, say sources close to the £350m talks. The negotiations collapsed after 2e2's venture-capital backers Duke Street Capital held out for more. Both sides met across the table a year ago, long before 2e2's UK operations nosedived into administration. A …
Smile of the day ...
"The negotiations collapsed after 2e2's venture-capital backers Duke Street Capital held out for more."
Overweening greed ....
Whats the name of the dude who turned down the beatles ? :P
And all the folks who turned down the "Harry Potter" manuscript?
That's what you get for getting greedy.
Either the shareholders have been exceptionally greedy, or the board have been misrepresenting the financial position of the business.
If it's the later, the directors may have broken the law, and criminal proceedings could now follow. Watch this space...
Dell certainly has a track record for picking winners, doesn't it?
(Yes Virginia, that was sarcasm.)
Contrary to the opi-onions expressed here, greed is not a problem, but...
"[2e2 CEO] Terry Burt did a good job of advising the VCs that 2e2 was in a good shape and growing."
That sounds dangerously close to an extreme lawsuit.
"We can sell you this Death Star. Guaranteed safe at any attack speed!"
They always get stuck with the hot potatoes... :-)
Did they have Jerry Yang as a consultant?
Just wondering :)
Surely had he not been so greedy that would have made him Dell Boy Burt?
glad we missed that one then...
Close shave for Dell......
Considering they knew they had £400 million missing, why the hell did they not sell?
or would them selling mean they would face possible jail time in the future when it came to light? In which case Dell et all could never had offered them enough, the company wasn't actually salable? (at least, not by the people who know where the cash went :P )