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Canadian Bulldog's Breaking News: Million Dollar Corporation to Acquire York Foundation

By Canadian Bulldog
Jul 25, 2006, 14:58


...

!

Above: DiBiase, fielding questions on CNBC's "Squawk Box" about his latest acquisition.

 

 

By Canadian Bulldog, World Wrestling Insanity News

 

(Seasonal Residences) -- Million Dollar Corp. (NYSE:$$$), the holding company of "Million Dollar Man" Ted DiBiase, plans to acquire The York Foundation in a deal being valued at roughly $2.4 billion.

 

Investors sent Million Dollar Corp. shares down on the New York Stock Exchange today over skepticism by Wall Street analysts over the transaction, which is being seen as a hostile takeover.

 

"You think this is hostile?" DiBiase said during an investor conference call today. "You haven't even SEEN hostile yet! Ahahahahahahahahahahahahaha!"

 

Million Dollar Corp. shares dropped 5 percent immediately after DiBiase's comments were made.

 

The York Foundation, established by entrepreneur Alexandra York in 1990 to boost the careers of her clients, has said repeatedly that the privately-held company has no need to sell to the highest bidder.

 

"With a team of professionals and specialized software that tells my clients how to win matches, we have no pressing need to divest ourselves," York said in an exclusive interview with World Wrestling Insanity News.

 

DiBiase, however, insists that he will eventually acquire the firm.

 

"Everyone's got a price for the Million Dollar Man!" DiBiase explained, as his hulking bodyguard Virgil held the telephone for him. "Some might cost a little. Some might cost a lot. But I'm the Million Dollar Man. And you ALL will be bought. Ahahahahahahahahahahahaha!"

 

That interview sent the stock down another 9 percent.

 

While analysts recognize the obvious synergies and cost-savings that would come from the transaction, they remain concerned that executives at both firms may engage in a power struggle.

 

"You've got some fairly senior people at York, such as Michael Wallstreet, Mr. Hughes, Richard Morton, Terrence Taylor and Thomas Rich," explained John Layfield, an analyst at New York-based JBL Enterprises. "But will they be able to hold their own with the likes of King Kong Bundy, Tatanka, Nikolai Volkoff, Irwin R. Shyster, Bam Bam Bigelow, Evil Undertaker, The 123 Kid, Sycho Sid and Kama The Supreme Fighting Machine?"

 

Any finalized transaction would have to receive the approval of the Securities and Exchange Commission. Regulators may ask the combined company to sell off some of its assets, such as York's portable word-processor, or Million Dollar Corp.'s urn that had been melted down into a chain.

 

However, some industry heavyweights have said they support the deal. WWE Chairman Vince McMahon, who also hosts a television show where he shouts out random stock picks, called the transaction a "can't miss."

 

Which means that it probably will.

 

During a telecast of his "McMad Money" program, McMahon said: "I haven't seen a transaction with this much upside since The Corporation merged with The Ministry of Darkness in '99."

 

-30-

 

Canadian Bulldog is a borderline journalist who writes weekly for World Wrestling Insanity and Online Onslaught and has published his own book of nutty e-mails to wrestlers. See his obscenely expensive Canadian BullBLOG for more details. He welcomes your comments at CanadianBulldog@worldwrestlinginsanity.com


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