- A source tells The Deal Violin Memory (VMEM +8.1%) "had suitors knocking at the door prior to its September IPO -- and still does." Moreover, interest is said to have grown since Violin fired CEO Don Basile and replaced him with the seasoned Kevin DeNuccio.
- Violin has reportedly held talks with Seagate, H-P, IBM, Samsung, and EMC. At least one company provided a term sheet, albeit while hedging it with conditions and due diligence requirements.
- Activist investor Clinton Group stated two weeks ago Violin, which remains 56% below its $9/share IPO price thanks to bad earnings news, has received informal interest from five potential buyers.
Violin Memory jumps on report of ongoing buyout interest
Feb 11 2014, 11:33 ET