Hey google elliot investment and it's filling with ftc to take over Noble energy. What does all this mean?
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What is this "us" talk, like you are still identifying yourself with Noble. Noble is done, it no longer exists. No sense being loyal to Noble, since they were not loyal to you. Noble is not going to do anything for you going forward. To be politically incorrect, it is literally every man for themselves.
Don't delude yourself, Chevron will do exactly the same as Elliot, break us up and sell us for parts. Chevron may keep the more profitable bits, but the rest will be sold off to the highest bidder. It's the nature of takeovers.
I'll agree though that Chevron is the better option. At least they are an oil company and there's a better chance for continued employment. And yes, if not, the severance will likely be better.
Elliot is pretty notorious in the investing world. My guess is that they may be trying to pry (extort) more money from Chevron, not really take over Noble.
I’m the last person who is going to defend our executive team, but a vulture hedge fund calling out excessive payouts rings hollow. Elliot bought its shares AFTER the merger was announced. I seriously doubt this sort of firm has even the slightest concern over payouts. They’re known for agitating and all they’re trying to do is get investors angry. This is not a group of do-gooders. They’re cold blooded investors.
And even if you don’t like the Chevron merger, life under Elliot’s scheme seems far worse. Their plan is to break us up and sell us for parts. They’ve stated they want to sell E Med assets...which leaves us with virtually no cash flow (Maybe DJ?). And you think they’ll be near as generous with severance when we’re sold to EOG, or whomever else? Not to mention how sh– things will be run until the sales happen. No thanks. I’ll take a job with Chevron or my severance compared to that fate.
Elliott Management Corp. calling out the Noble "Execu-thiefs" over their extravagant (more like obscene) payout packages.
This is what happens when management capitulates and is more focused on their own payout instead of the stockholders. Noble should not have been sold out. It is about as close to white collar theft as you can get without being called a criminal.
Hopefully the CoC is applicable regardless of the purchaser?
DS and board are ready to dump Noble in the nearest ditch! Time to cut and run!
Best part: “Elliott also is said to be unhappy that members of Noble's management stand to make $88M in various forms of compensation from the deal, including $60M for senior managers.”
Say what you want about hedge funds, but at least this one can call out excessive greed for what it is.
https://seekingalpha.com/news/3612525-elliott-wants-to-break-up-chevrons-takeover-of-noble-bloomberg?
What a sh– show
May take the company Private and continue operating or may break
it up and sell into pieces
JFC - we cant even sell out without it being a sh–show.
If the acquisition doesn't go ahead what would be next for Noble? Breakup? Bankruptcy? New executives?
Elliott, known for activist investments where it purchases stakes in public companies and agitates for change, also has a private equity arm that buys struggling firms and fixes them up itself. Last year, it bought Barnes & Noble Inc. after previously acquiring British bookstore chain Waterstones and network-technology company Gigamon Inc.
Hedge fund trying to keep it as a separate entity. Will push for vote to stop acquisition.
This company has the worse luck. Goodbye Chevron. This company is doomed.