For more than a year there has been talk about Spy Optic’s co-founder Mark Simo’s plan (and then denied plan) to merge his privately held No Fear retail business with Orange 21, the publicly traded company that owns Spy Optics. All along we thought it seemed like an odd strategy.
Now, in Jeff Harbaugh’s latest Market Watch column on TransWorld Business he looks into the details of the this situation and comes away with a similar, though much more informed, analysis.
This request to negotiate a deal, which didn’t have a clearly identified strategic rationale and requires financing that apparently isn’t in place had potential to be very distracting at a time when Orange 21 is busy just running its business in a difficult economy. Making the letter public didn’t help, and you have to wonder what Spy Optics’ customers think about it.
Exactly.
[Link: Transworld Business]
