Canddi Crush bought by Off Shore money

Canddi Crush bought by Off Shore money

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So Activision buys Canddi Crush and pays $5.9 billion for it……

Just so people are aware, Activision has most of it’s non US profits held in Bermuda. The company produces 60% of it’s revenues from outside the US and stores most of this profit in Bermuda. At some point to satisfy share holders it was going to have to spend that money…and there are not many games companies on the planet that you can spend a few billion dollars on. Hence Canddi Crush effectively could call the shots on the sale price

Here is the words from the press release:

Activision said it will use $3.6 billion of offshore cash and borrow the rest from Bank of America Merrill Lynch and Goldman Sachs Bank as incremental lenders.

I will expect more of these things to happen, especially as Apple are sitting on over $200 billion in off shore entities.

 

Doug