When Mark Thomas bought Midway for $100,000, it seemed like a good deal -- even if he did get their $70 million in debt in his welcome basket. Soon after, though, we learned that the sale triggered provisions in Midway's bonds, which allowed shareholders to ask for their full $150 million back. A few other [...]
Continue reading...Saturday, December 6, 2008
Mark Thomas may have gotten more than he bargained for when he acquired controlling stake in Midway for the low low price of $100,000 and $70 million in debt. The sale—which Midway itself wasn’t aware of until after Sumner Redstone and Thomas agreed to the deal—could end up triggering several provisions in Midway’s bonds which [...]
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Wednesday, January 7, 2009
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