Mark Waller of The Times-Picayune got in touch with the New Orleans-based investment company that wants to acquire TheStreet.com and found them settling in for a long fight.
Waller writes, “That might be what Perkin and Bienvenu will seek to do with at least some of the operations of TheStreet through their new partnership, which uses a strategy they call ‘transaction oriented activism,’ meaning they want to improve the financial success of companies not only by voicing their arguments as shareholders but by buying the companies, perhaps taking publicly traded companies private, or accommodating other sales.
“Perkin and Bienvenu said they hadn’t received a response from TheStreet’s board as of Wednesday. A spokeswoman for the TheStreet said the company did not have any comment. Cramer’s television show is a separate entity from TheStreet, which provides business and financial news and information through digital channels.
“Though it might seem unlikely that a New Orleans investment firm will acquire TheStreet, Bienvenu said they plan to be persistent.
“‘We’re not going away, so the company will respond eventually,’ he said.
“‘We believe there’s value here'” Bienvenu said. ‘We believe there’s money to be made.’
“If the company doesn’t respond, they said, they will consider making an unsolicited bid to buy it.”
Read more here.
