Finish Line (FINL) May Need To Take Drastic Actions If Forced to Complete Takeover
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The New York Post reported that Finish Line (Nasdaq: FINL) may have to divest assets or sell to a private-equity firm if forced to complete its buyout of Genesco (NYSE: GCO). If Finish Line does complete the takeover Genesco, it could shut stores or even divisions.
On a conference call over the weekend, Finish Line CEO Alan Cohen said over the weekend that he is taking a "wait and see" approach as to whether UBS (UBS) will be forced to finance the $1.5B buyout.
Cohen said, "The merger would be impossible," if UBS prevails in its argument that the combined company would be too weak and burdened with debt to avoid bankruptcy.
On a conference call over the weekend, Finish Line CEO Alan Cohen said over the weekend that he is taking a "wait and see" approach as to whether UBS (UBS) will be forced to finance the $1.5B buyout.
Cohen said, "The merger would be impossible," if UBS prevails in its argument that the combined company would be too weak and burdened with debt to avoid bankruptcy.
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