Cable M&A Buzz Swirls Around Adelphia Auction And Cox Buyout Offer

摘要

Take a well-run public cable company trading at 7.9x 2005 cash flow but growing CF at 16%, and it's only a matter of time before an opportunistic and well-capitalized investor steps in to take advantage of the disconnect. It's happened time and again in management buyouts and LBOs, and the only surprise is that it took this long.