Craftsman Buying out Snap-on and maybe MAC!!!

[dj00140]

Correction Sears craftsman is buying SO is what the title was not just craftsman if that makes a difference... straight from the wall street journal supposedly

"as of yesterday the sec has oked the buy out of snap on tools by sears and from the artical this morning in the wall street jounral sears has been given the ok and they will now move forward on this and they are also looking at buying out mac tools in a huge deal that will also make craftsman one of the largest tools in the us the buy out price that was reported was in the range of 950 million dollars plus stocks so it should shoot it over a billion dollar buyout the artical is on page 5 of the journal......steve"

copied from
http://community.craftsman.com/disc...-craftsman-has-bought-out-snap-on-tools/posts


Now all you guys can look forward to warrantying your SO at sears, and the inevitable drop in quality,

since I posted this useful info mods can you lift the infraction blocking me from the classifieds lol jk

 

[franzdom]

How is this straight from the WSJ if it is actually straight from the Craftsman website

 

[chadster1]

Never going to happen....

 

[fr0mastaj]

Sure, Steve....

 

[snapmom]

Snap on's market cap, (stock price x outstanding stock) is close to 2,800,000,000, so to buy it out right you would have to bid about 6 billion for the co.

 

[Zrexxer]

Wow, it was on an Internet blog, how could it NOT be true?

 

[Firetacoma]

How is this straight from the WSJ if it is actually straight from the Craftsman website

Not just a craftsman website, a craftsman user forum. The first place I go for reliable news information!

 

[Davefr]

A random post to a Craftsman forum doesn't mean squat.

If there was any validity, It would be here and it isn't:

http://finance.yahoo.com/q?s=SNA

Beside that the market cap of SNA is about $3B. Why would it be bought for $950M? Sear/Kmart is broke and can barely afford to stay alive.

 

[PT Doc]

And written do well also. A fifth grader could have written that.

 

[dj00140]

Page 5 of the wsj, thats what he said, I checked it out... but our wsj isnt here yet, anyon have the paper?

 

[woody 73]

Strange but the craftsman tool store in my area down the street is closing down, even with all the 10% off stickers the tools are still more expensive (they are using all the old prices); you would think they would be opening more stores not closing them down!

Being new to computers and the fancy lingo that I hear I think the new word is called Troll (not a dwarf that lives under a bridge).

 

[padronanniversary]

and notice the stock price did not go up at all like most buyouts

 

[kc-steve]

You can check the latest Snap-on news here . . .

http://finance.yahoo.com/q?s=SNA

There doesn't seem to be anything about a buyout, not to mention that the stock price would likely be making wild changes, which it isn't.

BTW, outstanding stock (capitalization) is 2.85 billion
times (X)
current stock price, $49.02
equals about $140 billion for a buyout, friendly or hostile

Steve

 

[paullie]

And written do well also. A fifth grader could have written that.

if you are gonna be the grammer(spelled wrong on purpose) police, you should proofread your own post

 

[IanG]

You can check the latest Snap-on news here . . .

http://finance.yahoo.com/q?s=SNA

There doesn't seem to be anything about a buyout, not to mention that the stock price would likely be making wild changes, which it isn't.

BTW, outstanding stock (capitalization) is 2.85 billion
times (X)
current stock price, $49.02
equals about $140 billion for a buyout, friendly or hostile

Steve

Market Cap (2.85 Billion)= Stock Price ($48.76) x Outstanding Shares (58.19 Million). That $140 Billion for Snap On seemed a bit high

 

[kc-steve]

Market Cap (2.85 Billion)= Stock Price ($48.76) x Outstanding Shares (58.19 Million). That $140 Billion for Snap On seemed a bit high

Where are you getting your outstanding stock number?
Sheesh, it has been too long since I did any stock analysis.

Steve

 

[powertrip]

Strange but the craftsman tool store in my area down the street is closing down, even with all the 10% off stickers the tools are still more expensive (they are using all the old prices); you would think they would be opening more stores not closing them down!

Being new to computers and the fancy lingo that I hear I think the new word is called Troll (not a dwarf that lives under a bridge).

Which store is that?

 

[ncfh]

$140 billion! lol.

 

[IanG]

Where are you getting your outstanding stock number?

Capitalization equals outstanding stock.

Steve

http://finance.yahoo.com/q/ks?s=SNA+Key+Statistics

Under Share Statistics...

Avg Vol (3 month)3: 418,500
Avg Vol (10 day)3: 388,157
Shares Outstanding5: 58.19M
Float: 57.87M

Toyota has a market cap of 112 Billion and I doubt Snap On is larger than Toyota.

 

[kc-steve]

I concede you are right about market cap. Like I said above it has been too long since I did any stock analysis. But you should know that the amount of shares outstanding has nothing to do with the size of a company. And in recent years the stock price doesn't have a lot to do with the value of a company either, otherwise companies like eBay and Amazon with high P/E ratios would be rather cheap based on their assets.

Steve

 

[SpiderGearsMan]

sears is nothing but a large tank of debt

 

[chadster1]

If someone is going to be bought out, its going to be Sears, not Snap-on.

 

[Stuey]

No corroborating reports or press releases? Didn't happen.

 

[SpiderGearsMan]

eddie lampert is done

 

[BrokewrenchLS1]

In other breaking news, the collaborative Elvis/Tupac show set to debut in Atlantis sold out in the first minute tickets went on sale. Their next venue - the "US Moon Landing" movie set - sold out even faster, within 30 seconds of tickets becoming available.

 

[chadster1]

In other breaking news, the collaborative Elvis/Tupac show set to debut in Atlantis sold out in the first minute tickets went on sale. Their next venue - the "US Moon Landing" movie set - sold out even faster, within 30 seconds of tickets becoming available.

Isn't Michael Jackson appearing at the US Moon Landing venue?

 

[route246]

Don't say never. Eddie Lampert is not done. Sears Holdings is profitable and Snap-On is like a flea on an elephant in comparison. It is entirely possible and feasible that this could happen. I'm not saying likely but a guy like Lampert can pull this off if he sees value and Snap-On obviously has huge brand value.

Sears Holdings is not about retailing. It's more like a real state investment trust. People laugh at Sears and K-Mart but it's not about the retailing. It's about the real estate and the location of that real estate. It's hugely valuable. Lampert tends to model himself after Warren Buffett, looking for undervalued assets. If he thinks something about Snap-On is undervalued I'm sure he is looking into this.

Although not so relevant, Snap-On is just up the road in Kenosha from the Chicago suburb of Hoffman Estates where Sears is headquartered.

Never going to happen....

sears is nothing but a large tank of debt

If someone is going to be bought out, its going to be Sears, not Snap-on.

eddie lampert is done

 

[RobertMo1988]

Why does sears sell snap on accessories such as shop vacs, extention cords, knives, floor mats, lights and so on. On sears.com

 

[jeffj78]

Looking through my copy of the WSJ and I didn't see anything regarding a buyout. Nothing on wsj.com, bloomberg, or cnbc...

 

[theoldwizard1]

Why does sears sell snap on accessories such as shop vacs, extention cords, knives, floor mats, lights and so on. On sears.com

Because they make money doing it !

 

[Stuey]

zOMG, it turns out that the person who shared the news was talking about tomorrow's WSJ!

I just got a copy of the Press Release in my inbox.

 

[earlthegoat2]

zOMG, it turns out that the person who shared the news was talking about tomorrow's WSJ!

I just got a copy of the Press Release in my inbox.

You *** clown. I actually clicked that.

Well Played Sir!

 

[BigAl62]

It's not April fools day is it? This has to be a joke.

 

[BigAl62]

You *** clown. I actually clicked that.

Well Played Sir!

Sh*t! I feel totally stupid! I've avoided being Rick Rolled - until now.

 

[Stuey]

You *** clown. I actually clicked that.

Well Played Sir!

hehe. I'm sorry, I couldn't help myself. There's so much misinformation being thrown around and so many people getting serious over this that I felt a little fun was needed.

It's not April fools day is it? This has to be a joke.

I can see why people might take this seriously. What motive did the original poster have to create such a false rumor? Looking quickly at his Craftsman profile, there's nothing to suggest why he would make this all up.

 

[route246]

It's just a rumor but not that far-fetched.

Looking through my copy of the WSJ and I didn't see anything regarding a buyout. Nothing on wsj.com, bloomberg, or cnbc...

 

[Skin]

If Sears wanted a tool company they'd of scouped up the rights to SK because that went for next to nothing.

 

[greybeard]

I don't believe it (yet)

 

[wisconsin_cowman]

Never going to happen....

I agree

 

[slob]

Lack of evidence notwithstanding, the sheer asininity of such a idea is reason enough to dismiss it.