Well, things just keep getting more and more interesting at work.
About a month ago, the company I work for issued a press release and a company memo stating that we were being sold (merger) to a company similar to ours (company 1). A company with a similar operating model but a different clientele and operating strategy. Interesting point #1 is that the other company is smaller than us.
Then, two weeks later, our largest direct competitor (company 2) with an identical customer base and identical operating strategy made an offer to buy that was larger. Interesting point #2 is that it is a company that is larger than us. The company I work for turned down the larger offer citing anti-trust law as the reason (I suppose that could be interesting point #3).
Tuesday of this week, company 2 increased their buyout offer for us. Company 2 also indicated possible "hostile take over action" if declined again. That would be interesting point #4.
Thursday this week, my company again declined the buyout offer from company 2 and issued a press release citing exact FTC rules about anti-trust law, divestiture, etc that (they think) would make it a bad deal for shareholders. Making that Interesting point #5.
Yesterday, company 2 issued a press release stating that were still intent on buying us and would explore their options to do so. Options (most likely) include a direct appeal to shareholders and/or a hostile takeover. That would be interesting point #6.
Meanwhile, the senior management and executives keep telling us not to listen to the noise (press) or worry about what will eventually happen. Sorry, I can't help but think about it. If company 2 buys us there is about a 98% chance I will lose my job in about a year. The mere 2% chance of keeping my job would include re-location to another state far from my family, so that is not an option for me. If company 1 buys us there is about a 75% chance I will lose my job in about two years. Of the remaining 25%, I'm guessing it's a 50/50 possibility of having to re-locate to another state. Again, far from my family. Company 2 is a better option for me, but still not a good final outcome in most scenarios.
I was planning on retiring from the company I currently work for, but I don't think that is going to happen now. In my past, I have always worked for the company that was acquiring the other company. I've never been in a situation where my employer was being acquired. Time to dust off the resume, update it, and keep my options open. Fortunately, I work in IT, I'm good at what I do, and there is high demand for what I do. In the worst case scenario, I have a year to secure other employment, so I don't see a problem there.
I just hate going through the whole employment seeking process -- resume's, interviews, waiting, negotiating salary and vacation time. It's just a pain, especially negotiating vacation. Most companies focus on salary when recruiting/hiring. Screw that, I am more than willing to accept less in salary for an extra week or two of vacation.
