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Could a large private company be sold without the public knowing?
A company that people in my family work for is part a big rumor going around. This is a multi billion dollar company with thousands of employees. The rumor is that an overseas company bought it out and but they are keeping it quiet (for what reason?). The rumor also goes on to say that half the jobs in our area will disappear (these aren't manufacturing jobs).
Can a large, privately held company be sold with absolutely nobody knowing it? Not even the media?
Okay, I can see that it is possible. But can anyone tell me why they would think it was necessary? If they were keeping it quiet to stop the workers from "freaking out" that doesn't make sense to me. Why not just rip off the band-aid? Plus the rumor includes the name of the company that supposedly bought the local one, and I can find no sign of them spending/financing a purchase of this size.
2 Answers
- ?Lv 510 years agoFavorite Answer
Yes it can. There is no actual need for public access to that information.
- Anonymous10 years ago
Yes it can. Its private property. You dont have to make an announcement when you sell your car. So its the same thing. However if the company is as big as you say then it would be difficult to keep the lid on the transaction.
