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PA for sale?

 
#1 PA for sale?
20/04/2009 12:19

Anon

http://economictimes.indiatimes.com/Infotech/ITeS/Cognizant-in-talks-to-buy-UK-firm-Pa-Consulting/articleshow/4422156.cms

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#2 RE: PA for sale?
20/04/2009 12:49

Ex-Pa to Anon (#1)

So much for PA’s oft vaunted “independence” from outsourcers. The article rightly points out though that PA has struggled to grow either revenue or margin in a booming market, and is ripe for some better quality management to come in and run it.

PA did try to sell itself to SAIC in 2004, and made a muck up of that. I wouldn’t be surprised if they mess this one up too

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#3 RE: PA for sale?
20/04/2009 15:30

anon to Ex-Pa (#2)

On the SAIC front there were a lot of senior partners who stood to make a lot of money from the sale....interesting thing was they voted against it and keeping PA independant. Be interesting to see what happens this time, different market place etc.

BTW I am fairly major critic of PA in a lot of other areas, having previously worked for them, but on this issue I think they probably got it right, in addition many consulting firm M&A's tend not to go too well.

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#4 RE: PA for sale?
20/04/2009 21:31

dump to Anon (#1)

It's a load of balloney folks. PA have already stated the story is complete tosh, not least as the restrictive covenants that govern PA effectively prevent a sale.

The reported valuation is around 50% less than book value.

This like a pump and dump scam to me.

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#5 RE: PA for sale?
22/04/2009 15:11

Baloney boy to dump (#4)

"the restrictive covenants that govern PA effectively prevent a sale"

Utter and complete bowl hocks !

No such covenants prevented any part of PA ever being sold before, and indeed did not prevent the partners trying to sell the whole organisation to SAIC in 2005.

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#6 RE: PA for sale?
22/04/2009 19:01

scoop to Baloney boy (#5)

Baloney Boy - go take a look at the Button Trust covenants and then get back to us to tell us what you've found.

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#7 RE: PA for sale?
22/04/2009 20:09

CDD to scoop (#6)

Wasn't PA founded by Ernest Butten?

Can't see how reading the covenants of the Trust which owns the DVD rights to Button Moon is going to help much here.

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#8 RE: PA for sale?
22/04/2009 23:05

Ernest Button to CDD (#7)

PA can only be sold to another British company.

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