News
TC announces breakdown in Gibson talks
Andy Barrett Apr 10 2008, 11:00am
Comments (4)
Deadline for agreement not extended
The TC Group, the sound processing, amplification, computer recording and speaker manufacturer and developer, has announced that its negotiations for a merger with Gibson Guitar have collapsed.
Discussions regarding a potential merger between the two companies have been, the TC statement said, ‘intensive’ for both parties, but their ability to consummate the deal within the targeted timeline proved too much. “A number of issues remained unresolved, and both Gibson and TC agreed that it was best that the merger proceedings not continue,” the statement read.
The TC Group has stated its goal “is to continue to produce and distribute respected high-performance audio products for business partners around the world”, and mentioned that Gibson Guitar “remains loyal to its many customers and will continue to dedicate its future to producing the best musical instruments in the world while engaging and building its family of brands through technology and potential new business partners.”
Comments
“Not surprised”
Posted by: Feline Jim - Apr 10, 1:10pm
Thought this might be on the cards. Many I've spoke to felt this was the best outcome, anyway.
“Re: Not surprised”
Posted by: Guitarman - Apr 10, 3:52pm
I suppose it's not too surprising, but I would have been interested to see what they would have done together. I reckon Henry probably wanted to be number one and his TC counterpart the same
“Re: Not surprised”
Posted by: Wooly.M - Apr 10, 4:18pm
These guys are a bunch of crackers.......straight up whole wheat with no salt.
“Re: Not surprised”
Posted by: Paul Bigsby - Apr 23, 12:26pm
Hmmm. Corporate monsters - doubt the retailer would have benefited from the partnership.