Yet another British company ownership going abroad - along with the profits.
Raspberry Pi distributor Premier Farnell in £792m Swiss buyout deal
Premier Farnell, British Raspberry Pi distribution firm, is set to be purchased by Swiss group Dätwyler Holding for £792m. In a letter to investors released today Premier Farnell said an agreement had been made to allow Dätwyler to take over the company, subject to shareholder and regulatory approval. Leeds-based Premier …
COMMENTS
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Tuesday 14th June 2016 18:02 GMT Commswonk
Yet another British company ownership going abroad - along with the profits.
My heart agrees with you, and yet my head tells me that with shares available for anyone to purchase there is nothing to prevent it happening.
I suppose we could all make ourselves feel a bit better about it by calling it "inward investment"; as good an example of weasel words as can be found anywhere. Much favoured by one Gordon Brown IIRC.
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Wednesday 15th June 2016 09:50 GMT Buzzword
Growth is good
It's generally a good thing. Here's how it works:
1. A canny British entrepreneur sets up a new business with his savings, and grows it into a tidy operation.
2. Foreign investor buys up the business. Cue much wailing and gnashing of teeth.
3. Original founder now has lots of cash, lots of experience, and time on his hands. He (or she) sets up another new business, creating more jobs and growth, and giving more consumers what they want.
Rinse and repeat.
It doesn't matter whether the buyer is foreign or domestic; what matters is that the entrepreneur can cash out of the boring mature business and concentrate on setting up innovative new businesses.
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Wednesday 15th June 2016 21:32 GMT John Brown (no body)
Re: Growth is good
"3. Original founder now has lots of cash, lots of experience, and time on his hands. He (or she) sets up another new business, creating more jobs and growth, and giving more consumers what they want.
Rinse and repeat."
That might be the normal practice in other parts of the world, but in the UK what seems to happen is founder sells out, gets rich, gets a gong from the PM and becomes a government "advisor" or "tsar of something". Note. That's a generalisation, exceptions may occur.
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Tuesday 14th June 2016 22:46 GMT Destroy All Monsters
Muh profits!!!
> along with the profits
Mercantilist thinking!
Consider:
1) Profits will be in GBP
2) To "go abroad" they need to be converted to CHF
3) This conversion increases the value of the CHF but depresses the one of the GBP
4) Owners of GBP (i.e. Island inhabitants) will be able to import more for less GBP
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Wednesday 15th June 2016 10:38 GMT Evil Auditor
Re: Muh profits!!!
@Destroy All Monsters
Your idea is on the right track, i.e. it is not a bad thing when British businesses are sold abroad (cf. Buzzword above), but with dodgy reasoning. When the GBP is being devalued the effect will be that the island inhabitants can import less for the same amount of GBP.
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Tuesday 14th June 2016 18:37 GMT inmypjs
Re: Payment terms
"I hope they ensure they pay for it on time in full."
I have taken to paying with a credit card which gives me some cashback, but, more significant is the 5.5% cashback for simply entering their site via Topcashback when you place an order.
Can't help wondering how many buyers in companies are pocketing substantial amounts from that little wheeze.
I think their management/marketing is batshit crazy.
The Element 14 facebook for engineers drivel, with the likes of Ben Heck appealing to the (gobby on new media) maker crowd who don't actually have any money.
Buying eagle - why? Then becoming soul distributor for one of its main competitors Altium Circuitstudio - crazy.
5% backhanders to websites which redirect customers who already have accounts - crazy.
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