What's that? The Fender copmpany is for sale?


Dear friends, 8th June 2004, the Financial Times USA reported:

'Thirty-seven years after Jimi Hendrix immortalised the Fender guitar by setting fire to one at the 1967 Monterey Pop Festival, the musical instruments company is up for sale in a deal that could be valued at up to $500m.

Fender is understood to have appointed Goldman Sachs to look at selling the business, which is expected to be put into a competitive auction.

People familiar with the situation said the sale was at an early stage. Interest is expected to come from both trade and financial buyers for the business.'

it'll be a sad day in guitar history if a CBS-type acquisition repeats itself with concerns pertaining to quality control. Fender enthusiasts everywhere are expected to acquire 2004 models because it's 'the final year before Fender was sold to...' model.

the biggest joke is of course PRS' acquisition of Fender to get back at Gibson for the recent lawsuit... :lol:

another day in guitar history...
This is bad news, I'm keeping my fingers crossed. Hope that they'll be bought by someone with enough responsibility to maintain the quality that Fender has been producing for the last 15 years.

I can imagine what will happen if Microsoft buys up Fender. The Cyber-Twin is going to hang and need a restart every 15 mins.
Oh I just saw this on Harmony-Central:

Fender Squashes Rumors About Possible Sale of Company

June 9, 2004

Fender Musical Instruments Corporation (FMIC) announced today that, contrary to recent reports, the musical instrument manufacturer is not for sale.

"As you may be aware, an article has recently appeared in a number of financial publications in which there is reference made to the potential sale of Fender Musical Instruments Corporation," said Bill Schultz, chairman and chief executive officer of FMIC. "I want to make sure that you hear this straight from me; this article is completely erroneous, and FMIC is not for sale.

From time to time, FMIC conducts a valuation process to determine the current financial state of the company. This is something it has done over the years, and something it will continue to do periodically. "

Added Schultz, "Current ownership of Fender Musical Instruments Corporation is intact, and it will continue to remain as such."

I hope it's true.
I think it was another attempt by Fender to clear their 2004 stock. These rumours could have caused a mad frenzy to buy all the fender stocks. These would have pushed up their profits. Than they could said that it was a false alarm. The tatics they use: coporate evil ideas.