$38 Billion Cash Deal to Splunk by Cisco 💸 💰... also getting my bonus next week woww... best company in the world for sure.. Guys have you ever seen a company like this?
16 replies (most recent on top)
"This is why CEOs of tech companies need to be engineers and not Sales weasels."
Spot on dude. Cisco the most dysfunctional, boring, sycophantic company in tech. Whats's worse, the id--ts who "lead" Cisco, VP and above think they are visionaries without a trace of humility.
A good place to finish your career and hide.
A toxic acquisition of a toxic product by a toxic company. Perfect match. Unless the ELT thought that Splunk has enough existing customer base to raise ROI on Splunk to justify this kind of premium and price, this reeks of a backdoor deal to enrich the deal-makers. - read Gary, CR & Co. SEC should open up an investigation. Why would anyone pay this kind of money for a serially loss making company which has not done any innovation in the last 4 to 5 years? Defies logic and common sense!
As a solution, Splunk is a Clunk. This is why CEOs of tech companies need to be engineers and not Sales weasels. So that they actually understand what it is that they are buying. Splunk is chunk when it comes to being a solution. Clunky as he-l.
Chuck Clunk Splunk Chunk ...Chucky's rhyme during his retirement days.
I agree, another couple of years for Chuck and if the zombified Board still continues with this clown, then perhaps a 5 years max for the Cisco before it gets fire-saled. Hasta La Vista, Bebe, the future is here!
This disaster will finish Chuck. It might take 2 years, but this will be his Stalingrad.
And then Chuck will be known as Chunk (presumably because of the chunk of money as payout)
$28,000,000,000/8,000employees is only $3,500,000/employee. According to another thread G11's are getting almost $27,000,000 in RSUs so this seems cheap!
Chuck is a Mo--n
$6B more than price on Friday, Cisco could have paid $100k to each employee and motivate them. or overall, cisco can pay $500k per employee? Congratulations to splunk share holders
What a waste of cash
Splunk employees gonna be anxious for next 12 mos. hahahahhaa. Uncle Sammy gonna collect. Esp with Biden. Probably take your house.
@1qal+1oIuHmBK and if it involves options it will be taxed as regular income and not long-term capital gains.
“Lot of Splunk employees going to end up with a huge IRS bill if true.”
"Can someone explain this?"
Someone can correct me if I'm wrong, but when the deal closes Splunk as an entity goes away and so does its stock. Cisco could have offered to replace everyone's Splunk shares with Cisco shares. Instead, the deal is for cash which means they are buying all Splunk stock and shareholders will get cash instead. That buyout will be taxed.
Deal is planned to close Q3/2024. In mean time Splunk has enough time to cleanup/trim their Employee base to make the aquisition more attractive for Cisco. With result these people don't get any benefit from their current Splunk stock options :-(
“Lot of Splunk employees going to end up with a huge IRS bill if true.”
Can someone explain this?
Seems insane. And a 31% premium on the Splunk stock. I heard this was a cash deal, not a stock swap. Is that true? Lot of Splunk employees going to end up with a huge IRS bill if true.
$28B. still a lot of cash to power down the drain. Chuckie the mathematician will be remembered for this huge blunder. This will be a topic in all MBA courses.
38 is with interest
38? Add it up again.