Feeds

CHS shares fall on fear of Vobis deal collapse

Never failed to complete deal yet, the company says

  • alert
  • submit to reddit

Boost IT visibility and business value

CHS shares tumbled 24 per cent on Wednesday, following fears that its would fail to complete its proposed acquisition of Vobis, the German assembler/retailer. Computer Reseller News US cites "reports in the German press" which reveal that Vobis owner Metro AG, is considering selling off Vobis subsidiary MaxData through an IPO. Claudio Osorio, CHS chairman and CEO, last month reportedly told analysts and investors last month that the company would close the Vobis deal by the end of September. with the deal still not completed, US analysts are questioning CHS's ability to raise the necessary capital. Jeff Matthews, general partner at RAM Partners LP, a US investment firm, described CHS as "one big acquisition machine. If the acquisitions stop, the train goes off the track," he told CRN. A CHS European official declined to commment on the CRN story, while pointing out that the company had "never failed to complete an acquisition yet". CHS shares closed Wednesday (October 7) at $6,compared with a 52-week high last October of $30.75. In August, CHS moved stock exchanges from NASDAQ to the NYSE, in search of a more favourable share rating.® Click for more stories

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.